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Las Vegas, NV Real Estate News

By Aaron Whitten
(Universal Realty)
We have added a new page to the website!  See current market conditions in your area.  Including market aprreciation and month to month comparisons visit http://www.primevegasrealestate.com/Market_Report/page_1849693.html
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales activity in Concordia at Deer Springs, a neighborhood in northwest Las Vegas, NV is up so far in 2007. Four homes closed in the first quarter, compared to two in the same period in 2006.Existing resale inventory of 12 homes (plus 1 with an accepted offer) means buyers have options and room to negotiatie. In order to get homes sold, it is important that they are priced correctly and in top showing condition. Homes in Concordia at Deer Springs have convenient access to the I-215 Beltway and are close to Red Rock and Mount Charleston for plenty of outdoor recreation fun.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date8949 Footstep18063/3$299,900$295,0009303/16/076825 Sweet Pecan19944/3$299,900$290,22513803/05/078936 Attic G...
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By Aaron Whitten
(Universal Realty)
A recent survey by the District of Columbia government identified the metro areas that take the smallest tax bite. The survey looked at the tax burden for families in the largest city in each of the 50 states and Washington, D.C.The D.C. government in its survey accounted for local income, sales, real estate, and car/personal property taxes for couples at various income levels. The survey's rankings provided below from Kiplinger's Personal Finance Magazine are based on a dual-income couple, with one school-age child and a combined gross income of $75,000 in 2005.Here are the 10 metro areas that under those circumstances claim the lowest percentage of taxes.Anchorage, Alaska: 4.1 percent Cheyenne, Wyo.: 4.3 percent Jacksonville, Fla.: 4.6 percent Las Vegas, Nev.: 5.4 percent Honolulu, Ha...
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By Billy Runyan, - Professional Property Expert at Windermere
(Windermere Prestige Properties)
It's amazing how much there is to know about the Real Estate market.  We cannot be "up to date" all the time.  We try to get our CE classes in and go to as many seminars as we can.  But really, what's the point of hanging a bunch of letters after your name when it really comes down to paying the fees, sitting through the course and smiling?  Feel free to comment here!The root of the matter is what we know about buying and selling homes.  I think its a "fine mess we've gotten ourselves into again".  We're all using a system to price homes that trails instead of leads the market.  If there's too many homes for sale then its obvious... at least to me.  The "fair price" is that which a willing buyer will pay a willing seller.  Something I think I learned a long time ago.  If there are no bu...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales in Concordia at Lone Mountain West, a neighborhood in northwest Las Vegas, NV are even so far in 2007. Four homes closed in the first quarter, compared to 4 in the same period in 2006.Existing resale inventory of 12 homes (plus 2 with accepted offers) means there is about a nine-month supply. In this competitive market, it is important that homes are priced correctly and in top showing condition to get them sold. Homes in Concordia at Lone Mountain West have convenient access to the I-215 Beltway and are close to the recreational opportunities of Red Rock and Mount Charleston.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date4247 Jordanville27153/3$474,900$470,0001902/28/0710527 Brownsville22074/3$449,900$425,0007901/31/07...
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
Does anyone know what the current top Real Estate Market in the Nation is? Obviously it is not Las Vegas Real Estate anymore. I here good things about Orlando FL. Of these top markets are any of the seeing the appreciation that Las Vegas homes did a few years back? I am just curious to see how we are still stacking up to other cities.
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
Is any one doing virtual tours to sell thier las Vegas homes? If so how is it working? What is the cost? How are you marketing it? I have been hesitant to use it in any of my marketing for any of our Las Vegas Properties. I have tried looking at a few virtual tours and all I get is frustration because the amount of time it takes for it to load up. Are there any rebutals to my nay saying. I hope so...
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
I don't know if any one else read or saw the newest stats about the Las Vegas Home sales but they are down some 40% year over. New home sales have gone down that much as well, actually more. I think we are seeing the new lending standards taking hold. They are predicting that the Las Vegas Real Estate Market in going to be flat throught the summer. Other news (good and bad) median home prices are still flat year over.
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
The amount of referrals we have been receiving this year are way down and I am assuming that it has to do with the down Las Vegas house Market. It seems that when I am calling my clients to touch base they take it upon themselves to educate me about how bad the market is and of course I tell them of all the great things happenig and reassure them that its not as bad as they think. I am wondering if they are selling against us and that is why we are not getting the referrals we have gotten in the past. We had a client come in from town a few months ago and was hot to trot, we found a home late one night and they were going to come in to make an offer the next day but while at the casino they got to talking to a group of people and they all told them how crappy the Las Vegas real estate m...
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
Here is a little hint and tip to the Las Vegas Realtors out there, take it for what it is worth. We have a newsletter that goes out to about 10,000 people a month in Summerlin Las Vegas and we have been doing that for about for over 15yrs now. Recently we just added a Referral directory to our newsletter. We asked all of our top and favorite clients who they would refer for a myriad of services and then we compiled the list in excel. Each month we post the list of services we have names and numbers for and pleople call in one right after another asking for a referral to tons of different service providers. We give them the information and tell them that we are going to follow up to see how the service was and then we call the service provider and let them know that we just referred them...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales activity in Breamoor Heights, a neighborhood in the Summerlin master plan in Las Vegas, NV is up so far in 2007. Five homes closed in the first quarter, compared to just two in the same period in 2006.Existing resale inventory of 3 homes (plus 1 with an accepted offer) slightly favors sellers. Still, it is important that homes are priced correctly and in top showing condition to get them sold. Homes in Breamoor Heights have lot sizes from 8,961 square feet up to 1/4 acre and more.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date10816 Cedar Forest26684/3$699,000$689,00012503/30/0710813 Sleepy River26684/3$600,000$600,0008603/30/0710812 Elm Ridge24143/3$579,000$577,00017702/05/07 1112 Cypress Ridge24143/3$599,990$560,000630...
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It sure seems that way when you look at different real estate markets across the land. Some areas are up, some flat and some are heading south. Little bit of everything.Cities that are doing well, meaning price appreciation is above national average, include Portland, Seattle, Charlotte, N.C., Boise, Idaho, Salt Lake City and New York City. Usually these urban areas have one or two industries that boost their economies. Charlotte is strong in banking, Seattle has aerospace, New York is what it is. The uptrend in the western towns like Seattle, Portland and Boise is partly caused by Californians fleeing the high housing costs and residents of Las Vegas and Phoenix leaving stagnant markets behind. New York is outright hot. In the first quarter of 2007 condo prices jumped 23%.Vegas is a pr...
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
This past week we went to a sales presentation for the most impresive Las Vegas High Rises I have seen yet, Pinacle. If you haven't seen it you should. They have sales meetings every wed. They provided great information about thier product as well as usfule information about Las Vegas real estate in whole. They seem very real estate agent frinedly and willing to help you market to you own clients. The most impressive thing to me was thier pricing ($400's up) One of thier penthouse sweets with great views was only 1.8m. Pretty impressive for a Luxury Las Vegas Home.
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
In a recent blog I mentioned that one of the many qualities of buying a Las Vegas home is its location. The proximity to the west is very desireable for many people and business'. Las Vegas is home to 100's of shipping yards and wherehouses. If you were to look at an airal view of all Las Vegas Properties you would see that much of it is commercial wherehouse. Maybe you have noticed all of the trucks on the road. For Las Vegas residence and business' you have quick access to Cali. Utah, AZ, CO, NM, & Mexico. We are located near Interstate 40 which runs east to west of the nation. With lakes, mountains, snow, and City just minutes away no wonder why Las Vegas Real Estate has been booming.
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
A modern aproach to providing Las Vegas real estate services is to create a team. Many Real Estate Agents in Las Vegas are part of one of these teams. Most times a team is put together to help service the amount of clients a single agent may have. Other reasons for a Las Vegas Real Estate Team is to have more people working together to find new clients and business. Usually it is helpful to be on a real estate team when and agent is newer to the profession. For clients it is usually a nice experience because they get more personal attention then they may when there is an agent with a considerable amount of business already. Most important, for any client is to find someone or a team that is dedicated to ethics and your needs.
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By Hildreth Barnhill, Las Vegas Real Estate Team -
(Specialists Real Estate)
The Las Vegas MLS search is the number one way to locate Las Vegas Homes for sale. It is nearly impossible to honestly filter out the best options for someone with out the Las Vegas multiple listing service. It still amazes me that people run around trying to find the best house for them with out first finding a qualified Las Vegas Realtor who can give them access to the thousands and thousands of homes on the market. Don't waste your time! Get a Realtor! It won't cost you any money for thier services!
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By Robert Ratliff, RE/MAX Realtor Las Vegas
(Ratliff Realty Group RE/MAX Las Vegas)
A guage of future economic activity showed the U.S. economy will slow in coming months, reversing recent gains and suggesting that higher gasoline prices and a sluggish construction industry are beginning to take there toll. The data points to a slower economic conditions this summer. With the industrial core of the economy already slow, and housing mired in a slump, there are signs that these weaknesses may be beginning to soften both the consumer spending and hiring this summer.http://www.las-vegas-homes.biz
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As the foreclosure numbers keep climbing for subprime mortgage holders, the lending industry is facing a major dilemma. Congress and others are almost daily making demands that it should work with delinquent borrowers and help them restructure their home loans. It surely would like to do that. It's usually in no one's best interest to repossess a home. But there are limits to what can be done.And the reason to the limits is the securitization of mortgages. More specifically in the subprime sector where the private label mortgage-backed securities have grown rapidly in recent years. Private labels have been good for the market, increasing the amount of credit available to borrowers and providing extra liquidity. Total mortgage debt controlled by them grew from 9% to 18% between 2003 and ...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales activity in Elkhorn Springs, a community in northwest Las Vegas, NV is down dramatically so far in 2007. Just ten homes closed in the first quarter, compared to 26 in the same period in 2006.Existing resale inventory of 52 homes (plus 5 with accepted offers) means there is over a one-year supply. With so much competition, it is crucial to price competitively and have the home in its best showing condition. Homes in Elkhorn Springs have easy access to the I-215 Beltway, as well as cycling, hiking, skiing and other recreational activities at Red Rock and Mount Charleston.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date7401 Cedargulf40955/3$729,900$719,000902/06/077824 Silver Mallard20224/3$349,900$339,900801/24/077312 Expe...
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By Robert Ratliff, RE/MAX Realtor Las Vegas
(Ratliff Realty Group RE/MAX Las Vegas)
The purchase of the New Frontier Casino was $33 million an acre. This transcaction further points to the surging land values in and around the Las Vegas Strip. The continued surge in Las Vegas Strip prices will trickle down to the rest of Las Vegas. With over 20 Billion on the books in construction projects in the next 5 years....watch out Las Vegas.....http://www.las-vegas-homes.biz
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