Las Vegas Real Estate News

Rhodes Cos. Creditors Sue Former Owner
Walgreens Sells For $1,736 Per Square Foot
Faqs About Las Vegas Real Estate Agent Commission
Las Vegas Real Estate-Beneficial Concept One Should Know ...
buy real estate in las vegas – Picking the best Las Vegas investment ...
Ca$h or Credit: Las Vegas NV Area REO Financing Profiles
LAS VEGAS REAL ESTATE BET WARREN BUFFETT WISHES HE CAN MAKE! BUT YOU CAN
LAS VEGAS REAL ESTATE BET WARREN BUFFETT WISHES HE ...
Realtors see first bump in income in a decade
Your Buying Solution to the Shortage of Homes For Sale in Las Vegas Might be New Construction
Now is a Great Time to Buy a Home In Las Vegas
Nevada's Gov't Conspiracy To Raise Prop Values: A Golden Opportunity!
Are there any mortgage companies financing TownHomes or Condos?
Nevada Short Sale Options | Do I Need a Lawyer?
Las Vegas NV Area Communities At A Glance Market Report
can an HOA come after the original homeowner during a foreclosure?
PlanetRE adds rental tools to Socialite CRM
New Freddie Mac CEO takes pay cut
6 cool apps for real estate agents
8 luxury rentals for the very well-heeled

Posted: 14 May 2012 01:08 PM PDT

The creditors that took over the bankrupt Rhodes Cos. Inc. have sued former owner Jim Rhodes for improperly pulling $132 million out of the company before its collapse. According to a 64-page complaint filed in U.S Bankruptcy Court Friday evening, Jim

Walgreens Sells For $1,736 Per Square Foot

Posted: 14 May 2012 01:27 PM PDT

LAS VEGAS-A foreign fund pays $27.8 million for the store, making it the most valuable single-tenant net-leased drugstore ever to trade in the US.

Faqs About Las Vegas Real Estate Agent Commission

Posted: 15 May 2012 02:47 AM PDT

Commission is one of the main issues when doing real estate transactions, and this is the reason why there are agents who are only after selling the property without even giving top-notch tips and advices to buyers. Now the question is when will the agent get their commission for selling a property and when they won't be eligible for it? These are the questions that we will be answering in this article, which will be beneficial for those who are wondering whether their agent or realtor is only after making a sale.

When are agents not eligible for commissions?

Commissions are a form of incentive for professionals who offered their services to close a deal or a transaction. This means that an agent should not be compensated if they didn't provide the service that you need, or they weren't able to make the transaction easier for you. Keep in mind that real estate agents are working for you, and they will get commissions in exchange for their service. If they are only trying to sell a property to you using words that you want to hear.

As a real estate agent, you are working to make the deal easier for the buyer. You are not in a transaction to convince the buyer that a particular property is great for them and should be purchased immediately. Clients are already willing to buy a property and they are only looking for someone who can work with them, convincing them to buy the property is not considered as an offered service.

When are agents eligible for commissions?

Anytime a buyer is convinced that the agent played his part to close a deal, the real estate agent is eligible for a commission. If everything was done perfectly and the deal was closed, the agent will then receive the commission from the broker. Keep in mind that trying to close a deal is not as easy as what you think. There are a lot of things that should be done to be successful with it, and the commission is only a form of compensation for a job well done.

Now that you know these things, I think you'll feel more secure when getting the service of a real estate agent. They must help you with all the transactions, because this is the reason why you will be spending money for the service of an agent.

There are a lot of other things that you need to know about a Las Vegas Real Estate Agent, so it would be better if you are going to learn more about it before you start looking for one. You can visit my website now, as I can help you find out how a Real Estate Agent in Las Vegas will be beneficial for you and your investments.

Las Vegas Real Estate-Beneficial Concept One Should Know ...

Posted: 08 May 2012 06:25 PM PDT

Yet another thing to bear in mind while making an investment in real estate in Las Vegas is acquiring a loan from a bank.

buy real estate in las vegas – Picking the best Las Vegas investment ...

Posted: 11 May 2012 04:19 AM PDT

Home · Las Vegas Real Estate · Las Vegas Real Estate Articles · Las Vegas Real Estate Media · Las Vegas Real Estate Videos · Las Vegas Real Estate Press · Las Vegas Real Estate News · Las Vegas Real Estate Q&A ...

Ca$h or Credit: Las Vegas NV Area REO Financing Profiles

Posted: 14 May 2012 05:06 PM PDT

Cash is the obvious dominator with overall Las Vegas Area REO Purchases. Cash not only dominates but CRUSHES financed purchases under $75000. The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing.

Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.)

Condo financing is currently a challenge in the Las Vegas Area. Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community. To determine if a condo is eligible for financing, a condo certification may be ordered from the HOA (this does cost money) and have it run by an underwriter.

Whether you are all cash or a financed buyer, you can search Las Vegas Area (Henderson & North Las Vegas too) homes right here for free and no obligation!

View other REO Stats for the Las Vegas Valley!

Last Month's Las Vegas Area REO Financing Profile Report

Learn More About Buying Las Vegas REO

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what's that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

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At Home with Diversity Short Sale Foreclosure Resource

LAS VEGAS REAL ESTATE BET WARREN BUFFETT WISHES HE CAN MAKE! BUT YOU CAN

Posted: 14 May 2012 04:35 PM PDT

On the heels of his annual shareholder letter – in which Buffett admitted to being "dead wrong" about the timing of a housing recovery – the billionairetold CNBC that distressed single-family homes were one of the best investment opportunities out there. Unfortunately for Buffett, the cost and logistics of making such an investment in large enough size to move the needle for Berkshire Hathaway is prohibitive.

The challenges of scaling a bet on distressed single-family homes is a theme that has been echoed by other high-profile investors, from Buffett's fellowForbes 400 member Sam Zell to hedge fund manager Bill Ackman, both of whom have voiced similar perspectives over the past year.

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LAS VEGAS REAL ESTATE BET WARREN BUFFETT WISHES HE ...

Posted: 14 May 2012 04:35 PM PDT

On the heels of his annual shareholder letter – in which Buffett admitted to being "dead wrong" about the timing of a housing recovery – the billionairetold CNBC that distressed single-family homes were one of the best ...

Realtors see first bump in income in a decade

Posted: 14 May 2012 11:18 AM PDT

NAR survey finds dual agency on the rise

Your Buying Solution to the Shortage of Homes For Sale in Las Vegas Might be New Construction

Posted: 14 May 2012 04:18 PM PDT

There is shortage of homes for sale in Las Vegas currently. This is frustrating buyers because most of the ones that are available are being snapped up with multiple offers within days of being listed. Plenty of buyers are looking and just giving up instead of continually being beat out by higher bidding buyers. It is really hard to find a property that you really like only to lose it to someone else.

There is a solution to this predicament. There are builders that are still building brand new homes in Las Vegas. Most builders have inventory that is ready for move in or nearing completion. I get updates weekly from all Las Vegas builders of their inventories. In addition to that I get updates on what incentives they are offering to buyers. This is a benefit to you because you aren't driving all over Las Vegas hunting builders that are offering homes in your price range. I already know how many homes they have, what the specs of the homes are, and what the prices are. This is a much smarter way to shop when gas is nearing $4.00/gallon. There aren't multiple bids on new construction because builders will build another one for you. Most builders have special financing incentives too.

I can help you forego the headaches of looking through existing homes and find a new one just for you.

Amy Kohlin
EXIT Las Vegas Realty Center
www.vegasrealestateshop.com
kohlinamy@yahoo.com
702.267.7933 cell

Now is a Great Time to Buy a Home In Las Vegas

Posted: 14 May 2012 03:40 PM PDT

Buy a home in Las Vegas, Nevada!

One of the most happening cities in the whole of the United States, Las Vegas is the home of the hip and the hop. People who want to stay in the loop and enjoy their life to the fullest live here, and with beautiful places such as the Grand Plaza Hotel and the world's largest casinos, this is like a heaven on earth.

Those who think that buying a house in Las Vegas, NV will require a huge budget are sorely mistaken, because help them in getting the best deals that are available! Even if you are looking for a house on rent or an affordable piece of land, our real estate agents will help you in getting the best possible deals in this city!

Why should you buy a house in Las Vegas, NV?

Did you know that in 2009, more than 37.3 million visited this city? The amount of activities and enjoyment that you can choose possibly endless, so rather than becoming a visitor, why not own a home? Property prices are different from place to place, and we will help you in getting the best deal according to your requirements.

There are 20 bus services, as well as around 350 limousine companies that are currently operational within the city. The Citizens Area Transit also provides 31 routes throughout Las Vegas. The city has some of the regions best museums that house a range of historic items and artifacts, making it extremely easy for children to learn about area history.

Attractions such as the Grand Canyon, the Bonnie Springs, Mt. Charleston, Death Valley, Red Rock Canyon and the Valley of the Fire State Park also add extra incentive. There are over 184 primary schools as well as the University of Nevada in this city. Recreational activities are extremely abundant throughout the city.

Property Facts in Las Vegas, NV:

The average listing price for houses in this city is $273,110, which is very affordable. Prices can also go as low as $100,000 in value towards the eastern side near the Hazelcrest District. The Median Sales Price in the city is around $109,000. Each year, over 12,000 houses are sold.

The most popular neighborhoods in Las Vegas include Summerlin, Rainbow Boulevard and Homestead Road. You can also build your dream home by buying land, the prices of which generally start from $87 per square feet on an average.

We can help you in getting the best deal in Las Vegas, NV, so why not buy a home today in Sin City? Speak with one of our Las Vegas experts today!

Nevada's Gov't Conspiracy To Raise Prop Values: A Golden Opportunity!

Posted: 14 May 2012 03:08 PM PDT

Nevada's new and nationally popular foreclosure law (AB284) has shut down virtually all non-judicial foreclosures in the state, creating a severe inventory shortage and skyrocketing property values. The inventory shortage is so bad Realtors are dropping out of the business because their buyers cannot win the bidding for the few properties on the market in the sweet zone for investors (see my previous two blogs for details). The law at the core of our spiking prices was sold to us as a consumer protection response to bank misbehavior and robo-signing. That might be somewhat true, but as with all politics, there was an ulterior motive! A CONSiPRACY!!!

The big deal with AB 284 is a provision that makes the bank swaer they have the ORIGINAL (wet) documents from the loan. Of course they don't have them, because since the mid 1990's the loan package was scanned by the originators and forwarded onto the banks. Once in the system, the mortgage broker's shredded the originals in favor of their electronic copies. Realtor buzz is that our state legislators were stupid when they put in that provision, but I think differently. I think it was done very much on purpose. Very much with an ulterior motive. Very much for the benefit of the entire state, but with secrecy and deception needed to actually pass it and make it work.

I can imagine the closed door conversations of our state legislators and their researchers, "What can we do to bring property values up, get people out from underwater, increase property tax revenues and improve the Nevada economic situation without making another bubble that will eventually blow up and hurt us?" The answer was this law that would simply force the banks to change gears to a system that would make it impossible to flood the market and spread out the absorption of the tens of thousands of defaulted loans over several years, but initially stop them altogether. In the meantime, they will be incentivised to make fair deals with homeowners by giving many homeowners really good leverage to use against their creditors.

FOR ONCE, GOVERNMENT ACTUALLY DID SOMETHING THAT WORKED THEY WAY THEY WANTED IT TO!
What I believe they had in mind is now exactly what is happening! AB284 is bringing up property values quickly, and with no drop in sight. Once the banks are able to make the transition to judicial foreclosures, they will be working thru the inventory slowly which will level off the appreciation to normal levels, just when it reaches 2002-3 levels (or at about the cost of building a house). At that point, the construction industry will get back on its feet and our recovery will be complete. I know conventional wisdom is that government policies generally lack wisdom, but this just makes too much sense! This was a brilliant move by Nevada government!

THE OPPORTUNITY CREATED
Everyone else blogging here is complaining about the price spike and investors are hesitant to go all in for fear of a bust, but when you put all the pieces together, you can see the timeline for opportunity very clearly. First of all, any property value lower than the cost to build will be a good investment. This increase will not slow down until they hit that figure. Right now, we're about $20-30/SF away from it. Even though we've seen almost triple digit inflation in the past 6 months, we're still undervalued and still selling at prices where there is healthy cash flow. Yes, it was better to have bought 4 months ago, but...shoulda, woulda, coulda! It's not over yet. Yeah, the days of 20% cash flow and 80% appreciation are gone, but 9% cash flow and 40% appreciation is still pretty good and I believe that right now (and for the next 90 days), we can still get that.

THERE IS NO BARGAIN HUNTING, JUST A RACE TO THE TOP!
I live my life by a perverted axiom I learned from my father (I don't even know the real version), "A pig gets fat, and a hog gets slaughtered." Don't call me, telling me you want to buy Las Vegas real estate at 30-40% below market value, you're wasting my time and yours. There are no discounts in Las Vegas, and won't be for some time now. At least not in the price range where investors should be going. DON'T EVEN ASK!!! Your value comes with the combination of market appreciation and positive cash flow. There is no bargain hunting in Las Vegas, it's a race to the top! Overbidding and aggressive terms are the only way you're gonna get into this market and make money. If you want to "wait for the good deal", you will wait yourself out of the market and I will find you crying in your oatmeal next year.

I KNOW IT'S A CLICHE....
I know it's a cliche, but if you've read the past two blogs and this one as well, you understand the market and why I say, "BUY NOW OR GO HOME!"

If you're an investor who's new to the investing world, or has been sitting on the sidelines, give me a call, shoot me an email, send me a letter, but make contact with me and let me help you put together the investment plan that works best for you in our unique market.

Jay Rosen, Broker
Since 1917 Realty & Property Management
www.Since1917.com
Rosen1917@yahoo.com

Are there any mortgage companies financing TownHomes or Condos?

Posted: 14 May 2012 11:24 AM PDT

Nevada Short Sale Options | Do I Need a Lawyer?

Posted: 14 May 2012 11:43 AM PDT

Why would you pay a Nevada Attorney thousands of dollars to handle your short sale when short sales are free? There has never been a better time to do a short sale. Many banks are now waiving their right to pursue deficiency, and some banks are even offering "cash back" to homeowners as an incentive to short sell, however, there are plenty of lawyers out there who are lining up to take your hard earned money. Why pay an attorney for a service that should not cost you a dime.

Before you hand over your hard earned dollars to a Nevada Short Sale Attorney, consider the following; will the attorney guarantee their services and pay you a full refund if they fail to perform? If you meet with an attorney who won't agree to refund your money should they fail to get your short sale approved, GET UP AND LEAVE!

While there are many respectable and ethical attorneys out there, you must educate yourself and not place your unconditional faith in someone who stands to make a handsome profit should you get sued.

There are NO attorneys who specialize in short sales; however, there are plenty of attorneys who specialize in taking your money. Homeowners considering short sales are welcome to speak with a lawyer to discuss their options, however, YOU MUST BE CAREFUL. If you use an attorney to negotiate a short sale and they fail to perform, you may wind up being sued by your bank. In the event the bank decides to come after you, then you will need to hire an attorney for a potentially expensive lawsuit.

What is the attorney's motivation to get your short sale done if they can make additional income protecting you from a potential deficiency judgement lawsuit? Is this not a conflict of interest? If you were sick with cancer, would you hire a doctor who also owned a funeral home? Of course not!

Additionally, if you speak with a Bankruptcy Attorney, they are undisputed experts at helping you go Bankrupt; however, they also make their living by convincing you to File Bankruptcy. Bankruptcy is always an option, however, NOT always necessary.

Nevada Short Sale Lawyers can be quite expensive. Who has money to hire an expensive attorney, when you are losing your home and preparing to move, etc.? Most people who are considering a short sale are experiencing a certain degree of Financial Hardship. In these tough economic times, many attorneys are experiencing a decrease in clients, and are looking for ways to generate additional income. Attorneys, who have never offered short sales as one of their services, are now jumping on the bandwagon and offering to do short sales for their clients. Times have gotten so tough for lawyers that even accident attorneys are now advertising Bankruptcy and Short Sale Services. Using an attorney to facilitate a short sale is a concern for several reasons: First of all, do you really think that the attorney you hire is going to make your short sale their top priority? Are they going to do the work themselves, or will they hand it off to their office assistants and paralegals to do the work? Most attorneys will not even make the time to meet with you personally. Are you prepared to spend $2000 - $5000 to hire a paralegal assistant to protect your family?

While The Myers Team with The Caliber Realty Group are NOT attorneys, they are nationally recognized as one of the most influential figures in real estate today. Additionally, they are the most experienced short sale Realtors in the city. Since 2007, The Myers Team has sold more short sale listings than any Realtor or Broker in Nevada. According to Myers Team owner Bill Myers, "Our service is 100% guaranteed, meaning if the bank rejects the short sale for any reason, you do not pay us a dime. Our loyalty is to our clients. Why pay for an expensive Attorney when you can be backed by the experience, knowledge and negotiating power of the Myers Team with no out of pocket expense?"

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Additionally, please visit http://www.vegasshortsaleinfo.com

Nevada Short Sale Realtors | The Myers Team #1

Las Vegas NV Area Communities At A Glance Market Report

Posted: 14 May 2012 11:26 AM PDT

Las Vegas Area "Communities At a Glance" Real Estate Market Report for March 2012

What is Absorption Rate?

Absorption rate is basically a report of inventory amounts & trends. It is important for placing offers, pricing new listings and in general understanding where the market is heading. It shows trends in a "monthly format" which gauges how many months it will take for the market to currently "absorb" all of the invententory. You can read more in depth about absorption rate and how it impacts listing a home or buying a home right here.

To View Community Descriptions or See Current Homes for Sale in the above Las Vegas Communities, simply click on the photos below for the specific communities. Listings & Homes for sale are IDX feeds and updated daily (no stale listings,) sorted by the newest listings first: