July 2015

Found 5 blog entries for July 2015.

Sellers Real Property Disclosure Bloopers

Some home buyers are getting more than they bargained for.  Have you heard about the New Jersey home with a stalker?  New homeowners received threatening letters shortly after moving in.  The writer calls himself the  "watcher".  He claims the home has been "watched" by his family for decades.  First by his grandfather in the 20s, his Dad in the 60s and now it's his turn.  He wants "young blood".  

How To Sell Your HomeThe situation has resulted in a lawsuit. The new owners claim the sellers knew a creep was lurking around.  And the sellers claim they had no knowledge of the stalker.

Easy to understand how reading  the "Stalker's" letters would scare the new owners.  The authorities and/or courts may decide if the sellers

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The Las Vegas Luxury Home Market Heats Up

We sold 78 Las Vegas Luxury Homes during the second quarter this year.  The Las Vegas luxury high rise buildings recorded 23 luxury units sold.  That's a total of 101 homes priced at $1 Million plus.  A nice increase over the 76 luxury homes sold in the first quarter of the year.  24 of the homes sold for more than $2 Million.  Eleven of the homes topped $3 Million.  

Luxury Home Trends

Las Vegas Luxury HomesFifty nine of the high end homes that sold were bought with cash.  Low interest rates may tempt some high end buyers.  The majority are still paying cash.  This could be due to the paperwork necessary to get a mortgage approved.  The mortgage process is more difficult for self-employed and those with complicated tax

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Homes For Sale

Home buyers in Las Vegas and Henderson have 7273 single family homes available today.  Condos, townhomes and high rise condos add another 2422 choices.  A total of 9695 homes for sale without accepted offers.  Not much of a change from last month when we had 9637 homes for sale.  Still below February's high of just over 9800 homes for sale.

Homes Sold in June 2015

Las Vegas Real Estate NewsWe sold 2933 single family homes in June.  Condos, townhomes and high rise properties totaled 627 closed escrows.  Overall, there were 3560 homes sold in June.  This includes Las Vegas, Henderson and North Las Vegas.  It doesn't include Boulder City, Blue Diamond and any outlying areas.

The June closings were higher than the last two months.  In May we had 3256 and in

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Las Vegas High Rise Condos For Sale

No shortage of inventory in this segment of the Las Vegas Real Estate market.  There are 531 luxury high rise condos available for sale.  That's a slight decline from the 534 listed when we did our update last month.  This is the one area of the Las Vegas Real Estate market where we have any sort of surplus of inventory.  

Las Vegas High RiseShort sales are involved in seven of the condos listed for sale.  Only four of the properties listed today are foreclosures.  Lowest price for a high rise condo is a foreclosed studio unit at Signature-MGM.  Unit 416 in Tower 2 is listed at $124K.  On top of the low floor, this unit is unfurnished.  Condos at this property are typically sold furnished.

High Rise Bargains that are priced less

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They're Not Buying Our Home? Why?

Telling a seller that the buyers changed their mind is something Realtors hate.  Luckily, it doesn't happen often.  When it does it's usually within the first couple of weeks of the contract but not always.  

Las Vegas Homes For SaleIt's important for sellers to understand that cancellations can and do happen.  It's easy for buyers to have a change of heart.  They may find another home they like better.   Maybe they wake up with a bad case of buyer's remorse after signing the contract.  Or maybe they decide they can't afford it.

In recent years, buyers were bad to cancel their contracts on short sales.  They would make an offer.  Then months would drag by while everyone waited for bank approval.  Buyers grew impatient.  Sometimes they

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