Las Vegas Real Estate News and Tips

New homes  for sale in Las Vegas are making the foreclosures and short sales look like  so-so deals in comparison to what you can get in new construction.  While 2011 was a record low year for new construction homes in Las Vegas, but with declining inventory of foreclosures in the MLS, and with homebuyers who are growing weary of the bidding wars and hurry up and wait mentality required for short sales, we predict this will be the year of the New Home Construction at least stabilizing if not showing signs of a rebound. 

New Homebuilders are beginning to pull permits and move forward with new communities.  We expect that the number of new construction homes that are sold this year will surprass last year's dismal numbers partially because the new home

1,295 Views, 0 Comments

 

China Town Las Vegas is relatively new in comparison to the famed China Town in San Francisco, but it is growing and for us foodies, that's a good thing.  For the past several months, we've been hearing about a place on Jones at the edge of China Town in Las Vegas that is serving up some great, authentic Chinese food.  We finally had a chance to stop in for a late lunch and China Mama lived up to all the hype.

We started with the "Steamed Pork Buns", also referred to as "Soup Dumplings" because they're stuffed with ground pork and a little soup stock.  I'm a fairly skilled cook and have made my own Sui Mai, Fried Won Tons and other dim sum items before.  I cannot imagine how they manage to get the soup stock inside these delicate little won

975 Views, 0 Comments

Investment properties in Las Vegas have been a driving force behind the high volume of homes that have sold over the past few years. The private investors who have purchased Las Vegas Residential Properties have stimulated the local economy as they've improved the homes they purchased.

The typical investor in today's market pays cash or at a minimum puts a sizable down payment into the purchase.  Lenders typically require investment properties to have a 20-30% down payment.  Slightly over half the home purchases in Las Vegas have been cash transactions over the past year.  This is a far cry from the investors who used 100% financing to put together a portfolio of properties at the peak of the market.

After purchasing the foreclosed or short sale

891 Views, 0 Comments

"Where can I find homes for sale in Las Vegas" may sound like an odd question for a real estate agent who has been helping buyers and sellers with their real estate pursuits in Las Vegas since 2003.  Unfortunately, we are going through a constantly changing housing market here in Las Vegas.

At the peak of the market in 2004, the number of homes listed for sale declined to only 2400 at one point.  That was barely a month's supply.  At that point, builders began building a home on every piece of land they had available and buying more land.  By 2008, it was obvious that the market had turned, the number of homes for sale in Las Vegas was at least a year's worth of inventory and we didn't have the influx of six to seven thousand new residents relocating

1,095 Views, 0 Comments

Las Vegas parks range from the smaller little grassy areas positioned throughout master-planned communities to larger State and Federal parks where one can go hiking, camping and exploring our desert.  One of the most colorful is also the oldest and largest State Park in Nevada.

The Valley of Fire State Park is only an hour from Las Vegas, located just East of the 15 Freeway on the way to the Lake Mead National Forest at Overton, NV.  Even for those who aren't into outdoor activities like hiking and camping, this park is worth the drive just for the scenery.

The park gets its name from the red sandstone formations and shifting sand dunes that developed during the age of dinosaurs 150 million years ago.  Although, the red sandstones are the

1,065 Views, 0 Comments

If you've been following Home Values in Las Vegas Real Estate Market,you may have heard that one of the obstacles we face in helping our sellers get a decent price for their homes is the appraisal.  In today's Las Vegas Review Journal, there was an article regarding how " home values have declined for two years in a row" in Las Vegas.

We don't disagree with this article's statement that property values here have declined in 2010 and in 2011.  However, we do disagree with the appraiser they interviewed who feels that what a buyer is willing to pay for a property does not reflect market value.  As long ago as October 2009, I had written a blog post concerning how appraisals were killing our market.  Now, almost three years later, the situation has not

900 Views, 0 Comments

Buying your new home is a combination of an emotional and logical process.  Even the most seasoned buyers will frequently forget a few basics if they find a property that gives them that warm, tingly feeling that makes them want to jump right into owning it.  Buying a home in Las Vegas is exciting and buyers may sometimes fall so in love with their new home that they may overlook a few things.  Under any circumstances, there are a few options that homebuyers should be careful of.  My top three are:

1)  Always get a home inspection.  I recommend home inspections to anyone buying a home in Las Vegas and elsewhere.  I recommend a home inspection even with new construction.  Even the best maintained home could have something hidden that the current owners

756 Views, 0 Comments

Home buyers can find great prices at record low interest rates, but they may find their choices are becoming somewhat limited in Las Vegas and Henderson.  There are currently 8202 single family homes for sale without offers on them in the Las Vegas MLS.  Add another 1450 condos, town homes for sale and 424 condos in the high rise category.  That gives us a total of 10,076 choices for buyers.

Considering that we sold 3965 homes per month over the last year, the current inventory is only two and a half months of homes if no new listings were to come on the market.  However, with fewer bargains to choose from, we saw a drop in the number of homes sold in January.  As of today, the MLS is showing that 3456 properties closed escrow in the first month of

904 Views, 0 Comments

Lennar  is now offering some excellent homes at a great value in Summerlin's Andalusia community.  This is a great location, just West of the 215 Beltway at Charleston & Desert Foothills.  Home sizes range from 3200 sf to 3900 sf, with prices starting at $380,000 with EVERYTHING included!  

By EVERYTHING, we mean Stainless GE Profile Kitchen appliances, granite slab kitchen countertops with full backsplash behind cooktop.  Include an undermounted stainless Amerisink with Moen faucet.  Cabinets are 42" raised panel maple with spice finish and crown molding.  Family rooms are pre-wired for home theatre.  Each room is pre-wired for ceiling fans and two ceiling fans are included in the purchase of the home.  Flooring in the entry and wet areas is 18" x 18"

957 Views, 0 Comments

If you are relocating to Las Vegas one of your first questions is probably concerning the weather.  When clients ask me about the weather, I know they're waiting to hear about how hot it gets.  I'm probably not the best person to ask about the weather because lots of sunshine and warm weather is the reason I moved here from Northern California.  Best answer I have for this question is the photo I took of folks enjoying our nice 103-104 degree weather last June.  As you can see in the picture on the left, the Summer heat does not keep us from enjoying our parks and walking paths.

Even though I wanted those sunny, hot summers, I did prepare myself by moving here in December so I had a chance to acclimate.  For anyone who is moving here from a colder

883 Views, 0 Comments