Las Vegas Real Estate News and Tips

Balancing Home Budget Spring is usually the time of the year when people think of cleaning their homes and removing the clutter and cobwebs left over from the winter. For people who are considering making the leap to homeownership during the year, spring offers a good time to take a good look at their finances in anticipation of signing a contract for their dream home.

Here are some ideas designed to solidify the financial footing of potential homebuyers this spring. 

1. Apply a Strategy to Your Tax Refund

Millions of Americans look forward to a windfall that happens each year. Otherwise known as a tax refund, for the majority of people who receive one, the extra funds are treated as fun money and spent on things like vacations, nice meals out and

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Buying a house is a big event for most people, and it can be both joyful and stressful at the same time. Depending on the house that is chosen, there could also be hidden risks to look out for. Before buying, it's a good idea to look for clues that the house has been 'flipped.' This is done when people who buy and sell houses (generally investors) purchase a home that needs a lot of work, make upgrades, and then resell the home for a profit. Depending on how the work was done, though, some of these homes may not be up to the standards a buyer would hope for.

Flipped Homes Can Be Great Choices

Not all flipped homes are risky. Many people who flip homes understand that they can get a bad reputation and harm their business if they fail to do

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Home buying can be stressful and confusing to people who are new to the process. There are fees, there are legal terms, there are inspections; for prospective homeowners, and especially for first-time prospective homeowners, it's easy to get overwhelmed by just how much information is out there. Asking the right questions can help first-time home buyers get through the experience with less trouble and stress. 

What are the common expenses associated with home buying?

The most common expenses associated with home buying include:

  • Earnest money. Earnest money is often around 1-2% of the sale price of the home, although the exact amount can vary. Earnest money is placed into an escrow account and held as a deposit on the home throughout
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Las Vegas Housing Market Update - February 2017

Las Vegas Real Estate NewsBuyers have 5581 Single Family Homes to choose from in Las Vegas MLS today.  Those who are looking to buy a condo, town home or high rise condo have 1318 listings to consider.  Total listings without offers in the MLS is 6899.  This is a continued decline from last month's 7077.  In March 2016, buyers had 9496 homes for sale.  We've dropped 27% since this time last year.  Buyers who are looking in the lower price ranges should be prepared to act quick if they find a home they want.  Low inventory means the most desirable homes in the affordable prices ranges go quick.

We sold 2260 Single Family homes in February.  Condos, town homes and high rise condos added an extra 567 closings for the month.  Total

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Las Vegas High Rise News - February 2017

The decline in inventory in our high rise buildings has ended.  Today we have 424 condos for sale in our top buildings.  Up from 395 last month.  

Sales volume also increased slightly last month.  We sold 44 condos in the top buildings in February.  Up from 38 in January.  Most popular building was Palms Place with 8 condos sold.  MGM Signature used to be one of our busiest Condotels but they only sold 2 condos last month.  Of course, the number of condos listed at MGM is down to only 18.

Turnberry Place and Veer Towers tied for third place with 6 condos sold in each of those communities.  Both of those communities have a variety of inventory.  Turnberry Place has 66 condos listed for sale.  Veer Towers

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Financing Home After Default There are certain instances in which buying a home may become more complicated, and buying a home after you have had a foreclosure on your credit report is one of them.

Although a lot of lenders see a foreclosures as a significantly negative credit event, there are ways to minimize the effect it has on credit, as well as your ability to buy a home in the future.

1. Common Waiting Periods

It depends on the lending institution, but most lenders set some limits on the length of time that buyers must wait after a foreclosure in order to apply for mortgage financing. The standard waiting period for most conventional loans is seven years, calculated from the time that the foreclosure was completed. That date may fall months or even a year after

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Modern Home Layout For hundreds of years, the typical house was a series of rooms with four walls and a door, and each room could be closed off from the others.

In the days of fireplaces and coal stoves, this made perfect sense: Shutting rooms that weren't in use made it easier to heat the area where people were actually spending time, saving money on fuel and keeping out drafts.

After World War II, however, popular design trends changed. Thousands of new homes sprang up in subdivisions across the country, and they took advantage of stronger structural beams and better central heating systems. These improvements allowed for more open floor plans, which made small houses feel more spacious by eliminating walls between the kitchen and dining area. Once people

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Home Yard in Springtime In most areas of the country, spring and summer are the hottest times to sell (or buy) a home. If you want to make a real splash, you need to get started right away.

These six tips help you to get ahead of the pack and be ready when the home buyers come calling.

1. Plan Upgrades Early

If you want to make some upgrades to your home, you may need the help of a contractor to do the heavy lifting and professional repairs. However, if you wait until March or April to schedule a two-week project, you may find that all the best contractors are booked solid until July. You will be competing with general home remodeling projects as well as people who are getting ready to sell, and it is typically first-come, first-serve.

Anything that requires

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Asking About Issues in Home When you buy a home you trust the sellers to be open and honest about what they are offering for sale. In fact, there are certain things the law generally requires them to disclose. Those things can vary from state to state, so working with a real estate agent to ensure the purchase of a safe, quality home is important.

But there are still some things you will want to ask about potential homes. Investigating those areas of concern can help determine whether the home is really a good buy, or if there are issues you won't want to deal with.

1) How Much are the Bills?

The bills for water, gas, electricity, and other necessities may be much higher or lower than would be expected for the size of the home. While not all utility companies will

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Selling Older Home Successfully Much has been written about the millennial home buyer and their effect on the real estate market. Born in the period from 1982 through the year 2000, millennial numbers are estimated to exceed 83 million strong, making them a larger demographic than even the baby boomers whose numbers total just over 75 million people.

Because of size, the millennial segment of the population has tremendous buying power and influence. Homeowners who want to sell their homes know that attracting the attention of the millennial buyer can be beneficial in getting their home sold. Those who own an older home, however, may be worried about their home’s ability to attract this market segment and what they can do to maximize their chances for a successful sale. In

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