Las Vegas Real Estate News and Tips

People live in all different types of homes. Some people prefer to live close to their neighbors, in small, efficient condos. Other people prefer townhouse life, where they can have an upstairs and downstairs on a shared property with others. Knowing the difference between each type of residence can help home buyers decide which type of home is right for them. If you're a property buyer, here's what you need to know.

Differences by Type

Before home buyers can decide what kind of homes are right for them, they must first understand the various options. Below are the different homes by type.

Single-Family Homes

Single-family homes are standalone structures, often with a yard and a garage or car port. Single-family homes sometimes have

When the time comes to select a home to buy, especially for those on a home buying budget, many buyers look for what is available in their area, rather than looking for a home made from a specific type of material. However, in markets where many homes are available, buyers may have their choice of stick or masonry homes. Before a decision can be made, homeowners must consider the pros and cons of each type of house.

Stick Home, Pros and Cons

"Stick" is the word that people use to describe homes made of wood. Stick homes are common in all areas of the country, as wood is a relatively inexpensive and easy-to-use material. There are many pros and cons of stick homes.

Pros:

• Budget-friendly. Stick homes are often preferred by people who have

Las Vegas Housing Market Update - August 2019

We currently have 7677 Single Family Homes for sale in the Greater Las Vegas MLS.  Condos, high rise and town homes add 2483 options for today’s buyers.  Total inventory of homes for sale in our MLS is 10,160 today.  That’s a tiny drop from the 10,296 we had last month and the 10,432 the month before.  It’s a huge increase compared to the 5822 listings we had in August 2018. 

We sold 3046 single family homes in August, slightly below the 3064 we sold in July.  It’s up from 2991 homes sold in August 2018.  Another 819 condos and town homes were sold in August.  Total homes sold was 3865, up from 3821 in July.  It’s almost the same number as the 3887 homes that sold in August 2018.  Although if you only

Las Vegas High Rise News - August 2019

Las Vegas High Rise buyers have 496 luxury condos for sale this month.  That’s a steady increase from 432 last month and 416 from the month before.  That’s a huge increase from 311 the same month last year. 

Good news is the number of condos sold in our top buildings bounced back a bit last month.  We sold 54 condos in August.  Up from 38 in July and 37 in June.  It’s still a drop from the 78 condos sold in August 2018.

Top sellers in August - First place for the month was a tie between Waldorf Astoria and Panorama Towers.  Each of those properties sold 6 condos in August.  Considering that Waldorf prices ranged from $985K to $5.75M, I would give them first place.  Closing prices at Panorama Towers ranged

A fireplace can be a major benefit for any home, especially for those homes that might be for sale. However, a fireplace can also be a potential hazard that can end up causing headaches or even a rapid-spreading disaster. To keep the fireplace functioning the way it was intended, homeowners will need to commit to regular maintenance and safety guidelines.

Limit the Smoke

A fireplace may have been the home's primary source of heat at one time, but homeowners should not be treating it as their furnace anymore. Experts recommend no more than five hours of continuous burning. Homeowners can also limit the amount of smoke by cracking the window. Even in cold weather, the majority of the air from the window should travel up the chimney rather than

When looking for a new home to buy, one of the things that may come up during the search is deferred maintenance. When a home has deferred maintenance, it can have a big impact on the homeowner. But just what is deferred maintenance? This guide will explain what deferred maintenance is, and what it means for buyers and sellers alike when dealing with a home that has it.

What Is Deferred Maintenance?

Deferred maintenance on a home is exactly what it sounds like: when a homeowner continually postpones necessary repairs, resulting in the home to fall into disrepair. This is often done in order to save money, stay under budget, or simply because they can’t afford to have their home repaired. Examples of deferred maintenance include things like: 

Gutter care is an important part of home maintenance - they are not something that you should defer cleaning. If you're a new homeowner, here's what you'll need to know about taking care of your home's gutters.

Why It's Important to Clean Gutters

Gutters are designed to carry water away from the home. Without a proper drainage system, water can saturate the ground around the home, or may seep into the home's roof and walls. If water saturates the ground surrounding a home's foundation, the earth around the home may heave during freeze/thaw cycles, causing costly foundation damage.

If water leaks into the walls or attic of a home, this could lead to mold, wood rot, pest infestation and other problems. Cleaning the gutters can ensure that water

When the time comes to sell your home, it's important to price the home right. If the home is badly priced, either too expensive or too inexpensive, you may lose money and take a long time to sell. Understanding the dangers of incorrect pricing, and working with a real estate professional to price your home correctly, can help you have a successful home-selling experience.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Dangers of Over Pricing

Buyers tend to look for homes within a certain price range. They avoid going too far above or below their price range, because budget is important to them. When buyers look at homes in a price range, they compare

First time homebuyers may not know much when it comes to closing on a home. Time can easily get away from buyers busy with arranging a move and getting everything in order. Knowing more about the closing process can help mitigate challenges and allow a buyer to get everything in place for this last part of the home buying process.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Home Closing: The Final Hurdle

A buyer is now getting close to the end of the home buying process at this point. In the majority of cases, buyers are financing their purchase, necessitating the involvement of a lender. Home closings are generally faster and with few, if any,

When getting ready to look for a brand new home to buy, most buyers already have an idea of what sort of features they want, and it could be anything from hardwood floors to a big yard with a patio. Before buyers go to home showings, they should put together a home wish list to organize everything they want and have an answer for all the questions their agent will ask when trying to find them the prefect home. Here are some things to consider when making a wish list.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Wants and Needs: How to Differentiate Between Them

Many people are familiar with the term “wants versus needs” and how it’s used to organize