Las Vegas Real Estate Blog

If you are renting and moving into a new-to-you Las Vegas home the process is usually fairly simple - you just let the lease expire or find another renter to fill your shoes. But what if you have a home to sell first? Do you sell it and move afterward with the need to rent or stay with family or friend? or do you buy another home and then with the risk that your current home doesn't sell quickly and you get stuck with extra monthly mortgage payments? or do you make your contract for the second house based on the sale of the first?

There is no easy answer. You basically have three choices: move twice, risk paying extra mortgage payments, or ask the seller of your new home to accept your contingency.

If you are tight on money and have the option to live with a family member or friend or you can rent for cheap you can live off the bare necessities until the first house closes and you are able to move into the second. If money isn't an issue then it makes sense to move ahead with the purchase of the second home and then take your time with the first. An option that may make your life simple but put stress on the seller of the new home is to make your contract contingent on the sale of your home. Be prepared to have that countered out of the contract because the other sellers may be under a tight time frame themselves. Each situation requires some analysis and an appropriate decision.

Las Vegas communities are among some of the best planned, most well thought-out residential real estate developments in the United States. From huge master-planned communities like Summerlin to exclusive, high-end enclaves like Queensridge to contemporary C2 Lofts to affordable condo conversions to Strip-view Panorama Towers Las Vegas residents have an amazing selection of great living.

The Las Vegas Valley has grown tremendously over the past decade and projections suggest there are about 10 more years worth of land to develop on. Las Vegas home values are expected to continue to rise as demand pushes prices higher within these great communities.

Las Vegas is a thriving economy. From huge casino conglomerate, distributors, construction companies, and entertainment groups to mom-n-pop startups business owners enjoy the booming industry. Unique tax structures provide uncommon advantages to businesses as well as an average of 310 days of sun and productive weather. Tourists and other visitors drawn by the lights of the strip bring millions and millions of dollars monthly into the city.

Las Vegas jobs are abundant as businesses expand or begin. So attractive is the market that some businesses can import whole groups of employees from other cities to fill needed positions.

Las Vegas is the home to many entrepreneurs and expanding businesses alike. Thousands of people will employ each of the dozens of casinos and other huge market venues scheduled to set up shop in the valley. Demand from services needed to cater to these people will sustain business growth for the foreseeable future.

The Mountain West college football season is well under way. UNLV, BYU and other favorites have played some exciting games.

BYU and UNLV currently have a very similar season record. On Oct 13 their schedules collide.

This Saturday, UNLV takes on the Wolf Pack in Reno at 1:00. This will be a week after some of the players earned some conference merits, "Coming off its first shutout victory over a conference opponent since 1983, the UNLV football program earned two of the three Mountain West Conference Player of the Week awards, the league announced Monday," as reported on UNLV Sports website.

More updates to come...

It is critical that you set your Las Vegas home's price correctly. Most buyer activity occurs during the first 4 to 8 weeks that a home is on the market. The last thing you want is for your overpriced home to grow stale on the market. You may have to sell it for even less than if you would have priced it correctly in the first place.

Las Vegas agents compete for the right to help you sell your property. Many of them will over promise and under deliver. They will promise you whatever price you want to hear so they can get the listing and then they will convince you later once you are under contract that it is too high when no one has seen the property. Many homes will finally sell for less than what the seller is lead to believe.

Another factor regarding your Las Vegas homes sale is the amount of exposure it gets. Executing an effective marketing plan will put the house in front of as many people as are needed to get it sold quickly and for the highest possible price. The proper plan will help you avoid committing to a lowball offer.

Your Las Vegas agent will be key in helping your determine the right price and the right marketing strategy. He/she will set realistic expectations and work with you to achieve your goals.

It seems that in every profession there are always going to be those who individuals that are going to tell you what you want to hear but have no intentions of delivering. There is a real easy way to nip this in the bud. Lets say that you have negotiated your way to the lowest interest rate, mortgage payment, and closing cost, which of these Las Vegas lenders that you have been interviewing will be willing to back up what they say with a guarantee. Ask them to put what they say down on paper with a signature. What are they willing to do if when your sitting down to sign your closing documents and your cost are higher than what you were expecting? Are they going to pay anything up and above what they promised? Get these things in writing. Note: be lenient with your lender if you mortgage payment comes out $5 or $10 dollars more or your closing cost are $50 to $100 more.

There is a neighborhood near our home where the neighbors all cringe when they walk by. It is a lime green color among homes that are all cream, tan and brown. Its yard is a mess and the cars don't match the demographic of the street. It just drives people nuts. So, what can be done when a home is out of sorts with the area and there is no HOA to govern or force the issue?

A reader of the RJ in Las Vegas asked the question and the RJ responded with an interesting answer...read...

Congradulations! The chances are great that you are coming to Las Vegas with a handful of cash for a great downpayment on your Las Vegas home. We work with many people from California. We can help you with your situation. The Califonia real estate market stimulates the Las Vegas market a great deal. Home prices have grown in California at a much greater pace so when people sell they are able to move north up the I-15 and in some cases pay cash for a home. The best thing to do is get started with a great lender (we can refer some great lenders) and then have your Las Vegas relocation real estate agents help you find your house. Let us know how we can help.

Build Your Real Estate Team

Your Las Vegas real estate team should consist of several different professionals depending on your needs. It is critical that you have a qualified team who is experienced and astute at negotiations. You will want someone on your side to help guide and council you throughout the process. Start with a quality Las Vegas real estate agent. Make sure he/she is a Realtor. A good agent will have connections with the right people to build your team.

You can learn a great deal from a mentor. Find someone who has done what you are trying to do no matter how simple or complex. Pay someone to educate you before you jump in. Find a good agent, stay loyal to him/her, and get the answers you need.

There are many books out there in real estate. Find several that fit what you want to do. Learn the terms. Learn the processes. Learn the negotiations. Learn the market of the area you are buying or selling in.

Keep in mind one thing: unless you become a real estate professional you will still need to take advice from one. Las Vegas real estate professionals ask each other questions all the time. Many people become educated enough to make themselves dangerous. They know when to throw a red flag but don't know how to solve the problem and they can kill a deal. Get educated enough to know what is going on and to help but be sure to seek out the professional help that is needed.

Here are some books you may be interested in: Books and Education

As an owner of a Las Vegas home, the best way to keep its value is to maintain it properly. Caring for your house is much easier if you follow a routine schedule and keep the little things in order. If a house is left too long without common maintenance then it deteriorates and a day comes when a lot of things need repaired at a great expense. Keep your place clean and trimmed. When it needs painted, paint it. When it needs new air filters, replace them. When your house needs a service, have it taken care of immediately so it doesn't turn into a large problem. Caring properly for your house will help it retain its value and you will enjoy it more.