Las Vegas, Nevada Real Estate Agent’s Real Estate Web Log about Las Vegas, Nevada real estate, including homes, condos, high-rise condos land and industrial commercial real estate. I discuss Las Vegas residential and commercial real estate news, market statistics reports and investment properties. Personal blog and Las Vegas living are included Statistics Unique Visitors: Total Unique Visitors: Outgoing: Total Outgoing: 1 0 0 507

Articles from Las Vegas, Nevada Real Estate Agent’s Real Estate

Why? 2007-09-02 21:23:17 Soldier from LV dies of self-inflicted gunshot, He took antidepressants before returning to IraqLas Vegas Sun Sept. 1, 2007This is all I could do for you brother. RIP ...

Analysis of a Las Vegas home owner (whose home is facing foreclosure) interview with KVBC TV 2007-09-01 21:19:31 Following is an excerpt from a distressed Las Vegas Home owner’s interview with KVBC TV. “”It’s really very hard, very emotional.” Christine Young of Henderson is in a bind like so many in our valley. She refinanced her four bedroom, nearly 2,000 square foot home more than a year ago. And at the time was convinced she was getting into a fixed mortgage.” “It wasn’t fixed. A year later, our arm came up and now we can’t make our arm payment and it’s $700 more than what we were paying and it’s due September 1st.” “Christine blames predatory lenders for signing her up on a mortgage she tried so hard to avoid in the first place. “I thought this guy was the nicest and most honest guy.”” “To avoid foreclosing, Pam put her house on the market several months ago. She’s hoping to sell before they lose the house or lose out even more. “We started at $389,000 and now at $299,000. So we lost $90,000 on what we w ...

All Las Vegas real estate agents are not equal, pitfalls of being represented by a Realtor® with no commercial experience or education in commercial real estate transactions 2007-08-31 19:59:32 I am going to break an important business rule and promote a competitor of mine. Why? Credit has to be given when it’s earned and Colin has earned my respect.A good way to gain added value in a real estate transaction in Las Vegas is to buy a property and then up-zone it. For example; buying a residential property and then changing the zoning to office commercial.  Millions have been made by savvy investors who bought industrial properties or Las Vegas land and changed the zoning to commercial tourist or MUD1.I have a property on Desert Inn and Oneida Way, for those who are unfamiliar with Las Vegas it is located about seven minutes to the east of  Wynn Las Vegas on Las Vegas Boulevard. The zoning for this property was residential and master plan was office. Although this is called conforming zone change, one has to satisfy numerous Clark County requirements in order to change the zoning and obtain a certificate of occupancy.  I am a few weeks away from finishing this project and ...

Las Vegas home and condo market condition past, present and future. What happened to Las Vegas residential real estate 2003-2005 2007-08-30 19:59:32 Las Vegas real estate began to heat up towards the summer of 2002 and really heated up by Feb-2003. During the summer of 2003 new home sales staff would not even let the customers in the sales office. Every time a new home builder announced the opening of a new home sub-division there would be lines formed up to 5 days before grand opening and those who made it to the sales office had to win a lottery for privilege of buying from the builder. Most Las Vegas sales offices had huge waiting lists, and buyers were told they had to wait for more than a year before their turn comes up. The situation got so bad that Pulte raised the price for one their projects in Summerlin by about $200K from high $400,000 to high $600K over a weekend and only 8 buyers dropped out. One has to note that neither fundamentals of economy nor real estate would support such price increases. Las Vegas real estate in 2001-2002 was downright undervalued, and whoever bought at that time will not lose money in any mark ...

Pitfalls of not being represented by a Realtor when buying a new Las Vegas home 2007-08-28 19:41:52 I am always baffled when I see new home buyers in one of the Las Vegas new home sale offices without an agent by their side. Talk about foolishness, why would someone take such a big risk with one of the biggest transactions of their life when there are no rewards? Las Vegas new home buyers have nothing to gain by doing the transaction on their own, as Nevada home builders are prohibited by law from sharing the savings from not paying the Realtor’s commission with the buyers.  It would be understandable if the new home buyers had good understanding of Las Vegas New home market conditions or could obtain the latest incentives offered by new home builders these days.  Other issues include an understanding of LIDS and SIDS, future construction in the area which could impact future value of their residence and the saving obtained when buying an inventory house instead of building one from scratch. Such new home buyers fail to understand that as nice as the new home sales persons are, ...

War with Iran is bad for Las Vegas real estate 2007-08-27 19:38:58 The estimations for the cost of Iraq war vary widely. One estimate shows “A running total of the amount of money spent by the US Government to finance the war, based on estimates from the Congressional Budget Office” to be about 456 billion dollars so far. The same website estimates the cost of war by state and city, the cost to Nevada is about four billion and eighty three million dollars and climbing by $1000 every 30 seconds, Las Vegas’ share is about 976 billion dollars. These numbers show the present costs and don’t take into account future costs of perusing the war, withdrawal costs or the massive future costs of caring for the veterans who are injured physically or mentally.  A 1.2 trillion dollars (that is 1.2 million, million dollars) in Iraq war cost is not out of the realm of imagination. Such money could fund universal health insurance, help pay for upgrading the antiquated infrastructure in many cities like New Orleans or Minneapolis etc… Starting another war w ...

Las Vegas land prices are sliding, save the Las Vegas Boulevard (Strip) 2007-08-26 19:36:08 I am in the middle of a fresh look at all of the available vacant land for sale which are listed in property Line. Property Line is the commercial real estate agents version of MLS. I am primarily looking at all the land between 1- 15 acres. There are 610 parcels listed and I am up to 250, however a few things are worth noting. There are many price cuts and one can see phrases such as “$250,000 below appraisal” which brings up the question about the appraisal date, appraisals are not valid for period of longer than six months and that’s in markets that are going sideways and not as dynamic as Las Vegas. According to data published by Applied Analysis the total acreage sold in Greater Las Vegas Valley is down by 60%, and average price has gone down to $718,000, this is a 9.5 percent decline from the last quarter and 11.3 decline from the same quarter last year. Although comparing average prices is meaningless due to varying zoning and location of the parcels sold in two consecutiv ...