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: 16 0 41 347

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

About the upcoming big condo auction in the Summerlin area of Las Vegas 2008-02-09 22:18:29    A big condo auction is coming up this Sunday in the Summerlin area of Las Vegas and I have advised a couple of very dear clients of mine Maria and Francis to take a shot at it. The condos are located on Vegas Drive which border Summerlin and the cool thing about this is that no SIDS or LIDS are involved. About 80 condos are going to be auctioned for the starting bid of $79,000 for one bedroom condos going up to $119,000 for three bedroom condos. The last three times that I visited the sales office there has been a lot of activity on these condominiums and I expect a crowd at the auction. The vast majority of people were not accompanied by a Realtor, which I happen to think is careless if not dumb.. Given that we are here to serve, a few words of caution about this auction, if you are dumb enough to attempt this by yourself and a lot of people are:  Read the purchase contract that the sellers have provided on their site, auctiontoday.com. In addition to the purchase contract, you ...

Mortgage rates are lowest since 2004 as Fed cuts rates by 1.25% in eight days 2008-01-30 22:05:52 According to Freddie Mac’s survey last week, the average rate for a 30-year fixed mortgage was 5.48%. This is one of the lowest rates since 2004. Furthermore the Fed has cut rates by 1.25 percentage points in eight days, and has lowered the target for the federal funds rate to 3%. It is possible that the mortgage rates will come down more. The federal funds rate is the interest rate that the Fed or other banks charge for overnight lending to another bank. Fixed-interest mortgage rates are set by markets and are based on long-term money rates and not short term rates and a 1.25% cut in the Fed rate does not necessarily lower fixed mortgage rates by 1.25%. However, lowering Fed rates can certainly have some effect on the mortgage rates. When the Fed rate drops, it lowers 30-year Treasury Bonds yield and the LIBOR rate. These are two of several benchmarks that are used to set mortgage rates. Also, when the funds rate is low, banks can charge lower interest on their loans and still m ...

Why Las Vegas real estate’s future in three to five years is so bright, you need to wear shades 2008-01-24 21:34:34 America loves hyping snapshots, and all the news and pundit’s discussions of it are focused on such events of the moment. The problem is that a snapshot is a picture of a moment and misses the big picture and long term trends. Same hype resulted in the irrational exuberance of 2003-2005 in Las Vegas real estate and momentary doom and gloom about the same. In the huge run up in prices in 2003-2005 I kept asking the same question, why the prices are going up at such breakneck speed. The answer was three fold: 1: US is the wealthiest country in the world, where mountains of cash are ready to be invested, except that in this country they have really four places to go, stock market, bonds, real estate, and funding new businesses.  The stock market and new businesses field the investors, thus the money is poured in to real estate and bonds. 2: Las Vegas real estate at the beginning of 2003 was undervalued, so some of the correction in the prices was justified. 3: Greed. Sellers were comp ...

Las Vegas median home price statistics, to believe or not to believe, conclusion 2008-01-23 20:47:30 As I stated in the last blog post, it is not helpful to make a decision on buying a Las Vegas or Henderson home based on the median and average prices, or the newspaper articles which base their “expert prediction” on these numbers.  As I stated before, expert predictions are based on sold prices and show the market reality of a few weeks to a few months ago. As for the future, I can easily predict what these experts will say in a few weeks, the market has gone down further by another 3% to 5% based on today’s asking prices by sellers and working in a discount due to fact that it is a buyer’s market.   Please take look at the market snapshot for Glengarry . As you can see the asking prices for model 2462 at this time is about $295,000 and the sold prices will be lower by $10,000-$20,000.A purchase worth noting is 2830 Kinknockie Wy. This home was purchased for $241,000 in Dec-2007. Even at the current selling prices which are about $280,000 for the model 2446 ...

Las Vegas median home price statistics, to believe or not to believe, that is the question 2008-01-07 21:27:50 The median and average Greater Las Vegas residential pricing and expert predictions which are built up on these numbers are akin to someone saying that the median or average price of food items in a Super WalMart are $3.45. What does that number tell you? Does it tell you what the price of a gallon of milk or a pound of prime rib is? Or that if the average prices go down to $3.35 that a gallon of milk and a pound of prime rib will go down by ten cents?  Absolutely not, and the same applies to the Las Vegas median price; all it tells is that the median or average of the aggregate properties which are sold at a period of time is X dollars. In order to explain this better I will use Glengarry, a neighborhood at the southern tip of Anthem Highlands in Henderson, Nevada. This neighborhood had sold most of the homes in 2005-early 2006, and some have been resold. In order to compare apples to apples, I have chosen Model 2462 in Glengarry which are sold in 2006-2007 and have placed the MLS m ...

Back to blogging. Is this a good time to buy Las Vegas real estate? 2008-01-03 15:48:27 Welcome to my new version of  Las Vegas Real Estate Agent’s blog, this is the blog arm of Las Vegas homes, condos, land,  industrial and commercial real estate;  which along with our web-site and forum compromise a fully interactive Las Vegas real estate educational system. Having a home of their own is everyone’s dream and due to the foreclosure fiasco many decent, hard working people have seen their dream go up in smoke and become unreachable in the near future. Killing dreams is evil and I decided to combat it through the only way possible, enlightenment and education. In the beginning of 2007 I had two choices: 1: Representing customers in their real estate transaction with the full knowledge that the prices are going down rapidly and that we would make money at my clients cost. 2: Advise our clients that they should not buy at the present time and spend my time developing a world class, fully interactive online real estate system that educates real estate buyers and seller ... Blogging

Lessons to Complete a Successful Real Estate Transaction and Avoid Foreclosure 2007-10-18 17:54:51 Day after day I look at the FORECLOSURE REPORT OF SOUTHERN NEVADA (CLARK COUNTRY) and see one home buyer after the other lose their nest egg along with their one shot at home ownership. Boy, if there are losers these are the people.  I am not being disrespectful, what I mean is, these people have already lost their down payment and all their mortgage payments, their credit has gone up in smoke and it will take many years, if ever, for them to realize their dream of home ownership. Why is this happening? There has not been any catastrophic economical down turn like the great depression, at least Las Vegas economy is humming along just fine, there has been no great layoffs, corporations aren’t filing bankruptcy left and right. Then why have we ended up here? Well, I will tell you; the reason is that most people look at buying their home as a singular act and not a process. They think that, looking for and locating a house or condo which they believed they could barely afford (evidentl ...

My visit to SKY Las Vegas which is a Las Vegas High-rise condo project 2007-09-20 21:57:21 As promised I will add Las Vegas high-rise condo pages to my web-site. Today I visited Sky Las Vegas. Sky Las Vegas is the first residential high-rise condo on the Las Vegas Strip. The models are on the 31st floor.  From the balcony I could see construction activities for Echelon project which is Harrah’s answer to MGM’s CityCenter. At this time they are moving dirt around and preparing the land. Fountainebleau is quite a bit further along and 4-5 floors have already been constructed. I keep being impressed by the sales staff of these high-rise condo projects and this one was no exception. I want to give real information about these condo projects to my customers like HOA (home owner association) fees which run about 42 cents per square foot for Sky Las Vegas. Each resident gets one parking spot and there is unlimited Valet parking. I have not seen the above information in other sites which I visited. I am using a grading system for these high rise projects. You can read about my ...

My problems with hackers and spammers. 2007-09-17 21:53:38 I have not blogged in the last few days and the reason is that my web-site and blog are under constant attack by hackers and spammers from a range of web-sites, including adult-sites, online pill-pushers and Florida vehicle and vehicle related web-sites. Funny, one of the biggest spammers is a web-site which offers legal advice to the victims of vehicle accidents. If people only knew what kind of scum they get their legal advice from. Notice I have not used other synonyms for vehicle since that is how they find their victims, by Googling the other synonyms. In order to fight this I have to take many steps which I can’t discuss here since a great deal of attacks are prompted by my web log. I hope you excuse some delays which could not be avoided while I go through growing pains. Enough said. ...

How are my Las Vegas real estate web-site, Las Vegas homes, condos land and commercial real estate and its companion blog performing in Google search results pages? Rocketing to the top!! 2007-09-12 21:49:58 How are my Las Vegas real estate web-site, Las Vegas homes, condos land and commercial real estate and its companion blog performing in Google search results pages? Rocketing to the top!! This the concluding article in the series. Why and how this blog and its companion web-site Las Vegas homes, condos and commercial real estate came to be. This is a lesson in life, business, planning and execution It takes time for a web-site to come up in the search engine results and my web-site is less than 2.5 month old and at least six months ahead of my best case scenario. A search engine results page is the listing of web-pages returned by a search engine in response to a keyword query such as sell Las Vegas home. In response to the search, Google returns the web-pages which include all the words in that search (sell, Las, Vegas, home) and shows the number of web-pages that contain all these keywords on the right side of the search results bar on the top of the page. Following is a small sam ... Google

How I designed my Las Vegas real estate web-site, and why it should go to the top within 18 month 2007-09-11 21:46:52 This is the fourth article of Why and how this blog and its companion web-site Las Vegas homes, condos and commercial real estate came to be. This is a lesson in life, business, planning and execution 3: People had to be able to find my web site relatively easily. The most important factor in designing a web-site with the top of search engine results in mind is the structure of the web site. The structure includes two distinct parts, layout and semantic tags. I desperately wanted a three column layout, so the visitor to my web site can see more links in the side bars. About three years ago three column layouts were all the rage in the web master community with many articles and demos about the subject on the internet. But doing a three column layout offers no advantage in search engine optimization. In order to gain maximum advantage over competition web sites mine had to have a special kind of layout called source ordered three column layout. It means that by using a CSS2* trick the s ...

How I plan to take my Las Vegas real estate web-site to the top, analysis of a real world business plan (problem) and how to attack it 2007-09-10 21:39:52 This is the third article of Why and how this blog and its companion web-site Las Vegas homes, condos and commercial real estate came to be. This is a lesson in life, business, planning and execution In my last blog post I discussed the criteria which my new Las Vegas web site had to satisfy, I’ll repeat it here for your convenience. 1: I had to have full control over the web site so I could change or modify it at will. 2: It had to contain a great deal of information covering all phases of buying or selling a residential property. Commercial real estate is not meant for civilians. 3: People had to be able to find it relatively easily. 4: It had to be aesthetically pleasing; the rule of thumb is that web page readers decide to stay with a web site in under six seconds. 5: The web site had to be easy to navigate and all the information in the web site should be reachable within three clicks if possible. This is all good. Obviously a dingy little web site is not the answer. The problem ...

How I began my real estate career in Las Vegas, Nevada. Criteria to design my real estate web site. 2007-09-10 21:37:32 ... Design

Why and how this blog and its companion web-site Las Vegas homes, condos and commercial real estate came to be. This is a lesson in life, business, planning and execution 2007-09-07 21:28:57 Background My dear wife Karen, whose opinion I value greatly, told me that she didn’t like the last few posts and that these posts were not reflective of my personality and style. I agree and will change things accordingly. First a few words about me so you can get a picture of my environment as it is essential to this discussion. A bad accident can be a point of discontinuity in a person’s life and an auto accident turned mine upside down in October 1996 and due to the same accident I don’t remember much about my life prior to the accident other than being a habitual underperformer. I had studied electrical engineering and ended up with a low C average and was drifting through life aimlessly. One day I came across a quote from Michael Jordan. It said “AT SOME POINT YOU HAVE TO STOP ASPIRING TO BE THE MAN YOU WANT TO BE AND START BEING THE MAN YOU ASPIRE TO BE”. I went back to school the next semester and started taking courses again. There I met two people who had a profound ...

Upcoming legislation about removal of the mortgage interest deduction for homeowners with houses of more than 3,000 square feet of interior space-STOP THIS BILL 2007-09-04 21:25:00 Rep. John Dingell (D-MI) is planning to introduce legislation that would eliminate mortgage interest deductions for homeowners whose home is larger than 3000 sq. ft. The reason behind this is that in order to discourage people from adding carbon emissions to the atmosphere, U.S. Government should penalize homeowners whose energy use is excessive due to the size of their residence.  Yeah right, that’s all our real estate market needs, if this mindless piece of legislation passes, its effect on an already deeply troubled real estate and mortgage industry would be devastating. Mr. Dingles’ timing could not be worst. Furthermore, his argument is fundamentally flawed and for any type of building, including residences the question should be energy efficiency and not the size of a residence. A 4000 sq.ft. home could use less energy than a 2500 sq.ft. home if the larger home uses energy-efficient light bulbs, high grade insulation, energy saving appliances and air conditioning and infrar ...