Know Where You Buy Your New Home

Knowing where you buy your new home is not as easy as it sounds.  You know you want a particular area but do you really know the neighborhood?  It is up to the buyer to perform what is called "Due Diligence".  Due Diligence is learning about where you are buying.  Was the home the scene of a horrific or high profile crime? You need to know what is going on in the area too.  Anytime you purchase a home in Las Vegas, at some point in the process you will need to sign what is called a "Gaming Map".  The Gaming Map shows all areas zoned for gaming, because there are casinos here in Las Vegas.  I know you did not know that.  Where are the nearest train tracks and airport flight patterns?  This is all stuff you are responsible for knowing when you purchase a home.  Also be sure and scope out neighborhood businesses, are they family friendly or adult oriented? If you are interested in schools it is up to you to get that information as well. 

My website will help with your Due Diligence, this link has information on School & Crime Information in the Las Vegas, Henderson and North Las Vegas areas.

Update on the Las Vegas Real Estate Market

The past few months here in the Las Vegas valley have been crazy to say the least in terms of real estate.  Currently there are 3,396 single family homes on the market in the Las Vegas valley.  That is the lowest it has been in a while.  Home sellers are continuing to receive multiple offers in a short amount of time.  Home Builders have caught on and have continued to raise prices, so people purchasing new homes are paying a premium.  The exception to this is in niche segments of the market such as 55+ communities, prices have been fairly stable and high end homes over $600,000 prices are going up but by smaller percentages.  Buyers need to be prepared for a battle to get their offer excepted.  Offers must be clean and free of any seller concessions and probably over list price in order to get an offer accepted.  As spring begins, more people tend to list there homes on the market but also more sellers are looking.  The real estate analysts predict only a 5% increase in home values for this year.  In order for that to remain the supply needs to double what it currently is. 

For further info on a particular neighborhood, visit my website and click on Market Insider at the top and enter the zip code you are interested in.
    www.lvhomesbymike.com