Special offer

Las Vegas, NV Real Estate News

By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
Summary: The Las Vegas housing market remains flat. The overall number of listings has continued to grow weekly since January 1st. Of homes sold, the days on market decreased from last month.Las Vegas Listings: (view chart) For the fourth straight month the number of net listings has grown. More existing homes are consistently going on the market than are being sold. Story after story has been heard about sellers who bought with an ARM mortgage option needed to sell because they are in a tough situation. Buyers are picking up all sorts of deals across the valley.Las Vegas Market Strength: (view chart)The average days on market (DOM) for April decreased slightly affecting our market strength meter for positive. This factor is based on homes sold. The fact that the DOM was down while more...
Comments 0
The latest residential real estate statistics are in for the first quarter of 2007. It's important to specify here that these are preforeclosure and auction filings. What comes to the actual numbers, Nevada has around 10 filings per 1,000 households, with Colorado next at about 6. The national average right now is 2.4. Clark County, home of Las Vegas, ranks second nationally in preforeclosures with 6,601, quite a jump from 2,720 last year. LA County is the embarrassing list topper on this one.These figures paint a less than rosy picture for us living in Southern Nevada. It's only one side of the coin, though. We have to keep in mind that for every subprime mortgage loan that goes into default, there are 25 loans that remain current. These include subprime paper and other loans that used...
Comments 0
By Jacqulyn Richey, Las Vegas Real Estate
(Prominent Realty Group)
Nevada Trails is a gorgeous community comprised of three wonderful neighborhoods, Palo Verde, Acacia and Mesquite. The community features single family homes of one or two stories. Island kitchens, courtyard entries and sun rooms are just some of the amenities offered. A Nevada Trails home will also save you money, because every home in Nevada Trails is Energy Star certified.  Nevada Trails homes range in size from approximately 1,500 to over 5,000 square feet. To receive listings by email or for more information about Nevada Trails, visit me online at http://www.lvrealty.net. Or contact me directly at 702-493-8033. -cr 
Comments 2
By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales in Nevada Trails, a community in southwest Las Vegas, NV are down nearly 30% so far in 2007. Ten homes closed in the first quarter, compared to 14 in the same period in 2006.Existing resale inventory of 67 homes (plus 10 with accepted offers) strongly favors buyers, giving them lots of choices and room to negotiate. In this highly competitve market, it is vital to price competitively and have the home in its best showing condition. Homes in Nevada Trails are close to the I-215 Beltway, the south end of the Las Vegas Strip, and many recreational options.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date7217 Barton Creek38974/4$750,000$710,500502/20/077236 Adobe Hills28353/3$659,900$630,0008702/28/077883 Carson Creek28353/3$...
Comments 0
By Esko Kiuru
This is the second part on how FICO works. To be able to fully follow the flow of this discussion, it would be to your benefit to first read FICO primer I.There are three credit reporting agencies, Equifax, Experian and TransUnion, that feed data to FICO. How do these companies get their information about you? It's the financial institutions who have given you credit in the past, for instance a mortgage lender or a student loan administrator, who send the accumulated information over regarding the management of your obligation. The report is rather detailed. It itemizes what type of credit was used, your payment history, when the account was first opened and the amount of credit that was extended. It even reveals any new applications for credit. It's a lot of information. But that's wha...
Comments 0
By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
As I am driving around town I often see Las Vegas real estate offices in the most peculiar places. I have always wondered how clients would view them. Many times these offices are not the most appealing and I know that I would be uncomfortable bringing a client there. Does anyone else have an opinion on this as a client or a Las Vegas real estate agent. Fortunately we own some great Las Vegas real estate in a very desireable area. For us it works out great because we get tons of walk-ins and it looks nice. I also understand that back east things are a lot different. I guess many of them have to refurbish an old house and make it work for them.
Comments 0
By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
One of the great things about buying a home in Las Vegas and living here are the great recreations. That is if you like hiking, climbing, off-roading, and just being outside.  As a Las Vegas Realtor part of my job is to help prospective buyers understand this and find the value in it but even more so I get to try all of these things out and tell stories about them later. The best way to sale someone on something is to try it out yourself. It's a great sales tool but the truth of the matter is that these great recreational activities sale themselves.
Comments 0
By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
I am from Oklahoma originally so when I came out to Las Vegas 5 years ago it was quite the change from what I am used to. Oklahoma homes are mostly brick and siding while Las Vegas homes are stucco and that's it (mostly)! Another thing that really suprised me was the price. I remeber looking at a home that was 3000sqft (plantation like home) with 40 beautiful rolling acres and it only cost $100,000. You can imagine the shock when I moved to Las Vegas and saw the price of Las Vegas homes! I wonder sometimes what it is that keeps me in the Las Vegas market then I remember it's "Oklahoma" end of debate!
Comments 1
By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
I was told when I got into Las Vegas Real Estate that business is good whether it was a buyers market or a sellers market. I was told that the only time that a Las Vegas Realtor would struggle was when buyers weren't buying, the transition between a seller's market and a buyer's market. For most this is it. The question I keep getting asked is "Is the market improving?" I understand that this is a relative question but I tend to say that it is. More Las Vegas homes sold last month than have in several months. I hope it continues to do so!
Comments 1
By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
I received a referral from Ny the other day and the gentleman was looking for a Las Vegas home and about 5ac. min of Las Vegas Land. In my search on the Las Vegas MLS there was only 7 properties returned all of which were 2.9m or more. I had no idea that there was that little available for sale with 5ac. or more in Las Vegas. It just goes to show why the value of Las Vegas Land is so expensive.
Comments 0
By Esko Kiuru
FICO score has become an essential part of our financial profile and therefore it's important to understand what it is and how it works. When we apply for a mortgage loan, it's one of the major factors to be considered at decision time. FICO's influence reaches further than that, though. It's involved in credit evaluations for car loans, personal loans, credit cards and so on. Whenever lenders need to know our credit risk level, they turn to FICO for guidance.A credit score really is a picture of our payment history at a given point in time and it estimates what credit risk we represent. FICO gets its information from credit reporting agencies and then puts the data together and gives it a final number. Or the score. Which in turn affects what sort of terms, like the interest rate and t...
Comments 0
By Aaron Whitten
(Universal Realty)
Sluggish growth in the U.S. economy kept mortgage rates in a holding pattern this week, reports Freddie Mac, as investors viewed the trend as a sign that inflationary pressures will ease. According to the company's weekly survey of borrowing costs, average interest on 30-year fixed loans held steady at 6.16 percent after dipping during the previous two weeks. The rate is just shy of the early March level of 6.14 percent, which is the lowest so far in 2007. Rates on 15-year fixed mortgages also stood pat for the week, averaging 5.87 percent. Source: Tacoma News Tribune (Wash.) (05/04/07)
Comments 0
I'm not exactly a boxing expert, but the media in Las Vegas has been talking for weeks about this fight and I finally took notice. These aren't heavyweights stepping up into the ring. They're just regular size guys. Yet, many observers predict that this skirmish is going to be the highest-grossing event in the sport's history. We'll find out soon enough if that's the case. Boxing in town is making a comeback. The monster heavyweight bouts of the past featuring Ali and his compatriots created regular stirs here and filled the casinos for days. And then you get a guy who bites his opponent's ear off in the ring and understandably the public gets deactivated. But slowly its regaining some of the past glory. To get tickets to this one is tough. It's labeled the biggest fight in a long while...
Comments 2
By Olivia Mc Clellan
(Agent Connect Realty)
C2 Lofts is getting close to moving in buyers into this very cool development located on the West side of Summerlin.There are a few units left if you are interested. C2 Lofts has a new project on the horizon located just east of Desert Shores so more units are coming from Christopher Homes.These guys have built a very cool property by Vegas standards. These units have large windows and go very light on the pink stucco...Buzz me if you are interested.Olivia McClellan702-372-2671Liberty Realty
Comments 1
By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Listed below are the current inventory and April, 2007 statistics for home sales in the Las Vegas, Nevada real estate market:Total Homes Available:  15,709 (as of May 3)Single-Family:  11,295  (14.0 month supply*) Condo:  3,305  (23.9 month supply) Townhouse:  1,109  (13.0 month supply)Total April, 2007 Sales:  Single-Family:  808  (Price range: $55,000 - $3,350,000) Condo:  138  (Price range: $64,000 - $3,600,000) Townhouse:  85  (Price range: $80,000 - $502,500)Median Selling Price:Single-Family:  $301,500 Condo:  $174,450 Townhouse:  $225,000Average Days on Market:Single-Family:  74 Condo:  84 Townhouse:  70GLVAR deems information reliable but not guaranteed. Information is for MLS areas 201-505.* - Supply = Homes Available/April SalesIf you have any questions or need more informatio...
Comments 3
By Cindy Abel
(Southern Nevada Realty, LLC)
One of the first things people ask about an area is:   Where is the grocery store? The lucky residents of Southern Highlands only have a few minutes drive (at most) to get to their local Smith's grocery store.  This wasn't always the case, it took about two years for the grocery store to open.  Before that, Southern Highlands residents had to drive about 10 miles to the nearest store.  Doesn't sound very far but when you have the late night munchies it can be a drive. View Southern Highlands Homes for Sale - Updated Daily Now, not only is the grocery store in place there are also several other nice establishments like: Walgreens, Ace Hardware, Cleaners, Subway, China A Go Go,  several banks, and (of course) a Starbucks.  What Is Your Southern Highlands Las Vegas Home Worth? - Click her...
Comments 0
By raman kandola
(kandola mortgage services)
 According to the Associated Press, in March, Nevada, one of the hottest centers of the real-estate boom, ranked highest in the U.S. in the number of foreclosures. The state's foreclosure rate increased 220% from a year earlier to one out of every 183 households, while the national rate increased 47% to one out of every 775 households, the AP says. Last year, the foreclosure process was begun on one out of every 30 homes in Clark County (Las Vegas). Meanwhile, the number of foreclosure filings in Florida increased 54% in March 2006. "With forecasts of a nationwide 1% home price decline this year, there's no way to flip for profit now," said Jay Brinkmann, vice president of research and economics with the Mortgage Bankers Association.
Comments 0
Just two years ago Nevada elevated itself to the national forefront of green housing legislation. It enacted a much-admired law that offered businesses 30 to 50 percent tax reduction for up to 10 years for constructing environmentally sound buildings. Now the law has been suspended. And we are asking, why? The answer is very common. The state faces fiscal problems. According to the Nevada Commission on Economic Development, a host of businesses have applied for the tax breaks. Some of the heavy hitters among them are the MGM Mirage CityCenter project and the Echelon Place development, both on the Strip. CityCenter, by the way, is the largest enterprise so far to file for the U.S. Green Building Council's LEED certification. Everyone understandably is very disappointed. Real estate proje...
Comments 3
That insurance sector, the so called PMI, almost disappeared during the real estate boom days a few years ago. It wasn't really needed much then. If the borrower lacked down payment, piggyback home loans came to the rescue and life went on. Piggyback typically consists of two loans. For example, 80-15-5 setup means that there's an 80% first, 15% second and 5% down. The benefits with it were the standard tax deduction come April and financing the second, despite it posting a higher interest rate, was normally less costly than taking an PMI. Today, however, there's a different tune playing in the stereo. The mortgage industry is battling a growing default wave and as a result is making home loan qualification much tougher. The piggyback has been in the receiving end of that change and has...
Comments 2
The new initiative is called Leadership in Energy and Environmental Design for Neighborhoods, or LEED-ND. It's actually the first time the Council is working on a program with outside participants, who in this case are the Congress for the New Urbanism and the National Resources Defense. There is something else new. For the first time the LEED certification system steps away from individual buildings and concentrates instead on sustainable land use and transportation.While the original LEED has a primary emphasis on energy efficiency and green building materials, the ND deals with sustainable site selection. And what really led to the birth of the new approach was that many buildings were in the past certified for Gold or Platinum, but they could be in locations that were environmentall...
Comments 6
Explore Las Vegas, NV
Las Vegas, NV Real Estate Professionals