Las Vegas Real Estate News and Tips

Flipping a Home Flops Without These 4 ThingsFlipping a Seven Hills home seems like an easy way to earn quick income. But it is often more complicated and time-consuming than people anticipate. Some budding entrepreneurs find themselves with a property that is not as valuable as they hoped, or end up with expenses far beyond their budget. Successful home flipping requires attention to detail and experience with many aspects of home renovation. With this information, prospective flippers will be better able to determine if flipping could be the right choice for them.

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

1. Investors Need a Low Purchase Price

Most homes in a given neighborhood have a

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Las Vegas Housing Market Update - September 2019

Las Vegas and Henderson home buyers have 7400 single family homes to choose from in the MLS today. There are 2423 condos and town homes. Total homes for sale is 9823. That’s a drop fro 10,160 last month. In fact, it’s the fourth month in a row the inventory has dropped slightly. It’s a 19% increase over the 8223 homes we had for sale in September 2018.   We sold 2659 single family homes in the greater Las Vegas and Henderson area last month. Condos and town homes added another 719. Total homes sold was 3378 for the month. Down slightly from the 3865 we sold in August. Up from the 3661 we sold in September 2018.   The median home price made a nice jump last month. It…
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5 Things to Know About Indoor Air QualityAir quality is something that many Inspirada homeowners worry about as they choose a location to buy a property. Inside the home, however, air quality can often be worse than it is outside. Allergens, dirt, and contaminants can easily build up inside rooms, contributing to allergies and other problems. Fortunately, there are a few ways that homeowners can get a sense for their home's air quality and make it better. With this information, people will know the common sources of lower air quality and what they can do about it.

1. Causes of Poor Indoor Air Quality

Contaminants can invade the home from almost anywhere. Some come from the outside but most are already in the house. In many cases, the toxins leave signs that people can pick up with their

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Las Vegas High Rise News - September 2019

Looking for a Las Vegas High Rise Condo?  We have 492 of them listed for sale in our top buildings today.  About the same as when we did our update last month.  A big jump over the 320 we had this time a year ago. 

We only sold 49 condos in September, down from 54 in August and 54 in September 2018.

Top Sellers in September - First place was Turnberry Towers with 8 condos closing.  Allure was second with 5 closings.   

Third place was a tie between Turnberry Place, SKY and ONE Las Vegas with each community selling 4 condos.

Highest Prices in September - we only sold two condos priced at $1 Million or more in September.  However, the two that sold were incredible.  Penthouse 1802 at ONE

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Common Real Estate Terms to Know Before Home ShoppingShopping for a new abode is exciting, but potential Green Valley buyers need to know what they are delving into by knowing a few basic terms before even looking. This ensures that what is being looked at is understood, as are the processes that one will undergo to seal the deal after finding the home they've always wanted. Here are some key terms home shoppers need to familiarize themselves with.

Common Terminology When Shopping and Negotiating for Homes

While this is just the tip of the iceberg, here are some terms to understand when looking at homes and trying to negotiate offers.

Listing Abbreviations—As you search through home listings, there are some basic terms and abbreviations you'll want to know.

  • SQ FT: Square footage of the
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5 Things to Know About Late Mortgage PaymentsMaking a late payment could happen to almost anyone. However, late mortgage payments can have serious consequences to a person's credit score and finances. Homeowners have a few options to handle a late payment, depending on the cause. People should know what constitutes a late payment, and how it may affect their credit or their ability to repay the loan. With the answers to these questions, homeowners will be able to identify problems related to late mortgage payments, as well as how they can address them.

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

1. What Is a Mortgage Grace Period?

Most mortgages include a grace period in which borrowers can make

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Everything You Need to Know About Choosing a Home TypePeople 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

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Difference Between Wood and Brick HomesWhen 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
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How to Keep Your Fireplace as Efficient as PossibleA 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

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Deferred Maintenance: What Is it?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: 

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