Here we are in 2013 and you are ready to buy a home. Last time you went house hunting there were all those magazines at the grocery store to pick up and browse through. While those magazines may still be there, the houses in them are long gone.
We now live in a world of instant gratification and it could not be more prevalent than in the world of real estate here in the Las Vegas area. Listings come onto the market and within hours have multiple offers. How does anyone get a chance at these homes? The secret way must be on the Internet. Right? Well the Internet does have great access to homes on the market and certainly better than magazines but sites like Zillow and Trulia will showcase homes for weeks if they are short sales and waiting banks to approve the sale to an offer already accepted. How about Realtor.com, while Realtor.com is essentially direct access to the MLS this must be the perfect website? Realtor.com also will show properties contingent upon bank approval that have accepted offers.
The best source for finding properties currently available is your Realtor. Your Realtor can set up a personalized search specifically for you with the criteria you are looking for in a home and set it to automatically notify you as soon as the home comes on the market. In the real estate business there is a phrase, "time is of the essence" meaning having the 1st offer in gives you a leg up on the competition.
When you do find that perfect home, don't get too excited until you have an accepted offer signed by the seller.
Thursday, February 28, 2013
Wednesday, February 27, 2013
$138,000 Brand New Las Vegas Home!
Don't let that title fool you. This is true. Here in the Las Vegas area prices have risen consistently over the past 6 months and within the past 30 days, most accepted offers for resale homes have averaged 12% over list price. This make purchasing a brand new home all that much more enticing. Don't have to wait for your offer to be "Accepted" or be in a fight with 12 offer offers, yes that is happening.
With brand new construction, you get piece of mind in knowing that everything works and even has a warranty. Additionally, in most cases you get to choose what goes into your new home and it is completed when you get the keys.
Here in Las Vegas, purchasing a brand new home has become the easy way to buy. Contact me for information of new home communities throughout Las Vegas, North Las Vegas and Henderson. Also get the latest market conditions by following me on twitter @lvhomesbymike.
Update: As of 4/24/13 Townhomes are available at $137,990. $138,000 for a brand new Las Vegas home is a great deal. Bidding wars are still happening so take advantage of this smoking deal because prices continue to increase.
With brand new construction, you get piece of mind in knowing that everything works and even has a warranty. Additionally, in most cases you get to choose what goes into your new home and it is completed when you get the keys.
Here in Las Vegas, purchasing a brand new home has become the easy way to buy. Contact me for information of new home communities throughout Las Vegas, North Las Vegas and Henderson. Also get the latest market conditions by following me on twitter @lvhomesbymike.
Update: As of 4/24/13 Townhomes are available at $137,990. $138,000 for a brand new Las Vegas home is a great deal. Bidding wars are still happening so take advantage of this smoking deal because prices continue to increase.
Monday, February 25, 2013
Las Vegas is a Seller's Market
The real estate market here in the Las Vegas area has truly become a seller's market. What is a sellers market? A sellers market is a period in which the home seller is in the drivers seat in the selling process. That means the seller does not have to make many concessions to a buyer in order to sell his or her property. What does this mean for the buyer:
1) Multiple Offers - more offers on a single home means you are less likely to get that house.
2) Higher Prices - Over the past 30 Days, homes in Las Vegas have sold for an average of 12% over the listed price.
3) Less from Sellers - In most cases the buyers have to pay their own closing costs and the sellers are less likely to do any repairs you request. The seller's though is you, the buyer, are just lucky to get the home.
The good news is that with prices going up, many home owners are no longer under water and we are seeing fewer short sales and more "traditional" sales. Traditional meaning the seller actually makes money on the sale of the home. One thing is always constant and that is the real estate market is always changing, it never stays the same even day to day.
For more information if you are planning on buying or selling, contact me directly at 702.286.3434 or for the latest local real estate market conditions, follow me on Twitter @lvhomesbymike.
1) Multiple Offers - more offers on a single home means you are less likely to get that house.
2) Higher Prices - Over the past 30 Days, homes in Las Vegas have sold for an average of 12% over the listed price.
3) Less from Sellers - In most cases the buyers have to pay their own closing costs and the sellers are less likely to do any repairs you request. The seller's though is you, the buyer, are just lucky to get the home.
The good news is that with prices going up, many home owners are no longer under water and we are seeing fewer short sales and more "traditional" sales. Traditional meaning the seller actually makes money on the sale of the home. One thing is always constant and that is the real estate market is always changing, it never stays the same even day to day.
For more information if you are planning on buying or selling, contact me directly at 702.286.3434 or for the latest local real estate market conditions, follow me on Twitter @lvhomesbymike.
Wednesday, February 13, 2013
2006 All Over Again!
The current real estate market in the Las Vegas valley is like 2006 all over again. The investors are flooding the market and there are simply not enough homes for everyone that wants to purchase one. This has driven prices up 25%+ over the past six months.
There is good news though if you are looking to buy there is new construction popping up all over the Las Vegas valley. There are new townhomes as low as $120,000 and new houses as low as $135,000. Typically the homebuilders will only sell to people that intend to occupy the home.
For the latest information on the Las Vegas real estate market follow me here or on Twitter at lvhomesbymike. Contact me at mike@lasvegashomesbymike.com and mention you saw this blog and I will pay for a home warranty when you use my services to buy or sell a home in the Las Vegas or Henderson, NV area.
There is good news though if you are looking to buy there is new construction popping up all over the Las Vegas valley. There are new townhomes as low as $120,000 and new houses as low as $135,000. Typically the homebuilders will only sell to people that intend to occupy the home.
For the latest information on the Las Vegas real estate market follow me here or on Twitter at lvhomesbymike. Contact me at mike@lasvegashomesbymike.com and mention you saw this blog and I will pay for a home warranty when you use my services to buy or sell a home in the Las Vegas or Henderson, NV area.
Wednesday, September 19, 2012
Vertical Living in Las Vegas... Life is a Vacation!
People are intrigued by high rise living in Las Vegas and I get questions all the time about specific buildings and what they offer and simply what they are about. Some buildings are strictly rentals and some offer purchase or lease options. Interested in either buying or renting, feel free to contact me and I will assist you in navigating to your new home. Here is a quick rundown of the high rise buildings in Las Vegas and what they offer:
Turnberry Towers - Located on Paradise Road across from LVH this upscale property provides easy access to the strip corridor.
Turnberry Place - Located on Karen Ave and Paradise Road this property is basically a second phase of the original Turnberry Towers and offers lower cost due to market conditions when the property was built.
Soho Lofts - Located Downtown in the Arts District this is building is nicely appointed including a small grocery store and lounge within the building. Concrete floors and no walls provide true loft living.
Newport Lofts - Also in the Arts District downtown this building is a sister property to Soho and very similar in style but most units are not as highly upgraded and perceived as more affordable.
One Queensridge Place - Arguably the most elegant of the high rises in Las Vegas. Located just outside Summerlin this is vertical living in the suburbs.
Palms Place - Live like your on vacation without the strip traffic. Located on the Palms Resort property this property features everything of a 5 star resort property, restaurants, lounge and pool.
Panorama - This property is all about convience. Easy access to the strip if you desire but located on Dean Martin Drive with easy access to either Tropicana or Flamingo roads. This property features a large gym and dog park on premises.
The Martin - This building is technically the 3rd phase of Panorama but is marketed as its own property. Easy walking distance to to Cosmopolitan and City Center via Harmon bridge.
Manhattan - Located on South Las Vegas Blvd. this mid rise property features luxury condos with easy access to the strip as well as south part of the Las Vegas Valley.
Boca Raton - Also a mid rise similar to Manhattan but a more resort feel.
Loft 5 - Contemporary living at its finest. Located just off South Las Vegas Blvd. these 1 and 2 story units offer amazing kitchens and master baths.
One Las Vegas - Variety in luxury is what it is all about here. Many floor plans with different interior features, this building features concierge services and discounts to local merchants.
The Ogden - Convenience of downtown living right is the center of the action - Located at Las Vegas Blvd and Ogden (near Fremont St.) The Fremont east and casino districts are any easy walk away.
Juhl - Mid rise luxury living in the Downtown Business District.
Mandarin Oriental (City Center) - The most exclusive address on the Las Vegas Strip - fine interiors all in the middle of the action.
Veer Towers (City Center) - Located in the heart of the action, the contemporary style and resort amenities make this a popular destination for a vacation home as well as everyday living.
Allure - Located just off Las Vegas Blvd near the Stratosphere provides easy access to the Las Vegas fun and the rest of the city.
Sky - On Las Vegas Blvd, this building is the perfect vacation home. All the Vegas action is an easy walk away and the resort style rooftop pool is the perfect place to relax.
Regency Las Vegas - Take it old school at the original high rise condo in Las Vegas situated on the Las Vegas County Club.
Turnberry Towers - Located on Paradise Road across from LVH this upscale property provides easy access to the strip corridor.
Turnberry Place - Located on Karen Ave and Paradise Road this property is basically a second phase of the original Turnberry Towers and offers lower cost due to market conditions when the property was built.
Soho Lofts - Located Downtown in the Arts District this is building is nicely appointed including a small grocery store and lounge within the building. Concrete floors and no walls provide true loft living.
Newport Lofts - Also in the Arts District downtown this building is a sister property to Soho and very similar in style but most units are not as highly upgraded and perceived as more affordable.
One Queensridge Place - Arguably the most elegant of the high rises in Las Vegas. Located just outside Summerlin this is vertical living in the suburbs.
Palms Place - Live like your on vacation without the strip traffic. Located on the Palms Resort property this property features everything of a 5 star resort property, restaurants, lounge and pool.
Panorama - This property is all about convience. Easy access to the strip if you desire but located on Dean Martin Drive with easy access to either Tropicana or Flamingo roads. This property features a large gym and dog park on premises.
The Martin - This building is technically the 3rd phase of Panorama but is marketed as its own property. Easy walking distance to to Cosmopolitan and City Center via Harmon bridge.
Manhattan - Located on South Las Vegas Blvd. this mid rise property features luxury condos with easy access to the strip as well as south part of the Las Vegas Valley.
Boca Raton - Also a mid rise similar to Manhattan but a more resort feel.
Loft 5 - Contemporary living at its finest. Located just off South Las Vegas Blvd. these 1 and 2 story units offer amazing kitchens and master baths.
One Las Vegas - Variety in luxury is what it is all about here. Many floor plans with different interior features, this building features concierge services and discounts to local merchants.
The Ogden - Convenience of downtown living right is the center of the action - Located at Las Vegas Blvd and Ogden (near Fremont St.) The Fremont east and casino districts are any easy walk away.
Juhl - Mid rise luxury living in the Downtown Business District.
Mandarin Oriental (City Center) - The most exclusive address on the Las Vegas Strip - fine interiors all in the middle of the action.
Veer Towers (City Center) - Located in the heart of the action, the contemporary style and resort amenities make this a popular destination for a vacation home as well as everyday living.
Allure - Located just off Las Vegas Blvd near the Stratosphere provides easy access to the Las Vegas fun and the rest of the city.
Sky - On Las Vegas Blvd, this building is the perfect vacation home. All the Vegas action is an easy walk away and the resort style rooftop pool is the perfect place to relax.
Regency Las Vegas - Take it old school at the original high rise condo in Las Vegas situated on the Las Vegas County Club.
Saturday, August 25, 2012
My Home Is Worth What???
It is no surprise that typically people put a higher value on their home than most people are willing to pay. After all it is home to them. Unfortunately with the down market over the past few years, this happens now more than ever. Recently I had a client contact me and stated he is looking to move out of the area within the next couple years and instead of waiting until then to sell, he would like to sell now and then rent, so when he is ready to move he won't need to wait for the home to sell.
The problem is my client, Joe, paid in the mid 200's for his home he put a large down payment and put a considerable amount of money into replacing, repairing and upgrading the property. I asked Joe, What do you think your home is worth? Joe stated " I am sure I can get $190,000." Knowing the neighborhood, I was cringing when I heard this. I told Joe, I would do some research and get back to him in the morning. As soon as I got back to my office, I began a comparative market analysis on Joe's home. It was not what Joe was looking for. Joe is a great guy and wanted to get him his price but with all the short sales and foreclosures in his neighborhood, the highest recent sale was $129,900 and there is currently a home listed $144,000 and considering Joe's pool and improvements, the best and absolute highest he could list for is $160,000 and he needs to be prepared to lower the price if it does not move. I was concerned I was going to offend Joe when I broke the news. I called Joe the next morning and asked if he was available to meet for coffee and crunch some numbers. Joe agreed. As soon as Joe arrived at the coffee shop, he looked at me and said "I already know". I was relieved. Joe told me he did some online research himself and was able to see the numbers.
The good news is that Joe was not offended with what I was able to find. Joe has decided to stay in the home for now and hopes the numbers turn more in his favor over the next year or so. The bottom line is the price of a home is dictated by the market not what a real estate agent says they can sell it for. Any real estate agent can say they can get any price for a home just to get you to list with them. I run my business on honesty and integrity and not afraid to be truthful.
The problem is my client, Joe, paid in the mid 200's for his home he put a large down payment and put a considerable amount of money into replacing, repairing and upgrading the property. I asked Joe, What do you think your home is worth? Joe stated " I am sure I can get $190,000." Knowing the neighborhood, I was cringing when I heard this. I told Joe, I would do some research and get back to him in the morning. As soon as I got back to my office, I began a comparative market analysis on Joe's home. It was not what Joe was looking for. Joe is a great guy and wanted to get him his price but with all the short sales and foreclosures in his neighborhood, the highest recent sale was $129,900 and there is currently a home listed $144,000 and considering Joe's pool and improvements, the best and absolute highest he could list for is $160,000 and he needs to be prepared to lower the price if it does not move. I was concerned I was going to offend Joe when I broke the news. I called Joe the next morning and asked if he was available to meet for coffee and crunch some numbers. Joe agreed. As soon as Joe arrived at the coffee shop, he looked at me and said "I already know". I was relieved. Joe told me he did some online research himself and was able to see the numbers.
The good news is that Joe was not offended with what I was able to find. Joe has decided to stay in the home for now and hopes the numbers turn more in his favor over the next year or so. The bottom line is the price of a home is dictated by the market not what a real estate agent says they can sell it for. Any real estate agent can say they can get any price for a home just to get you to list with them. I run my business on honesty and integrity and not afraid to be truthful.
Saturday, August 4, 2012
Real Estate and Technology
As technology advances it is imperative that I keep up with the advances and place it within my real estate business to market homes and stay cutting edge to provide the best service to my clients.
The best marketing tool in my opinion since the Internet is the QR (Quick Reference) code. You know those square codes that can be scanned with your smart phone. I have now introduced the QR code in most of my marketing materials including my business cards, house signs along with all other hard copy marketing materials. The QR code on the house signs are the best allowing people driving by to scan the code on the sign for information on that property.
Social networks are also a great way to get additional exposure for my listed homes for sale. Twitter is currently my favorite as I have amassed a large following of people other real estate agents in the Las Vegas area as well as all over the country so posting information on a specific home for sale is literally broadcast all over the country. Additionally, of course I use Facebook to gain additional publicity for homes I have listed for sale.
Technology doesn't stop on the customer side either. I use the latest technology to help me be more productive and save time. My latest gadget attaches to my smart phone and allows me to open lock boxes from my phone so I don't have to carry a separate key box when showing homes.
The best marketing tool in my opinion since the Internet is the QR (Quick Reference) code. You know those square codes that can be scanned with your smart phone. I have now introduced the QR code in most of my marketing materials including my business cards, house signs along with all other hard copy marketing materials. The QR code on the house signs are the best allowing people driving by to scan the code on the sign for information on that property.
Social networks are also a great way to get additional exposure for my listed homes for sale. Twitter is currently my favorite as I have amassed a large following of people other real estate agents in the Las Vegas area as well as all over the country so posting information on a specific home for sale is literally broadcast all over the country. Additionally, of course I use Facebook to gain additional publicity for homes I have listed for sale.
Technology doesn't stop on the customer side either. I use the latest technology to help me be more productive and save time. My latest gadget attaches to my smart phone and allows me to open lock boxes from my phone so I don't have to carry a separate key box when showing homes.
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