Las Vegas Real Estate Blog

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In recent months the Las Vegas MLS Search system was enhanced for Realtors in the valley. Real estate agents are able to generate more accurate searches and pull better reports for clients.

The home search is challenging for many buyers. It has become difficult for some to sift through the thousands of homes to find the right one to purchase. A good real estate agent will help narrow down the options that don't fit and put clients in front of great homes.

If you're looking for a home of any sort in Las Vegas check out this free look at the multiple listing service. Once you have an idea of what you are looking at please contact an agent because they have access to more enhanced tools to help you find the right home.

Just 4 days after fire charred the upper floors of the Monte Carlo on the Las Vegas Strip workers enter to begin repairs. On Friday, thousands were evacuated as flames shot out of the top floor windows. The smoke could be seen from many parts of the valley. Yesterday visitors were allowed to return to collect belongings. They had been displaced to other MGM properties and comped their stay so they would feel it was OK to return. The casino will open as soon as possible. Both fire damage and water damage affect the reopen but efforts will be focused on the reconstruction so operations can be restored.

There are hundreds of reasons to live in Las Vegas or invest here. Las Vegas still thrives during a time of national economic issues. World renown shows, clubs, casinos, hotels draw millions of locals and tourists annually. Real estate recently appreciated at historic rates and future expectations are strong. New casino projects are popping up all over, high rise condos/hotels are scheduled by the dozens along with well planned communities, jobs are abundant, new home developments continue to build out as demand for property remains steady and tourists flood The Strip.

Las Vegas is in its Manhattanization Phase. Great city growth, both outward and upward, is anticipated over the next decade. Job growth has been strong and with massive entertainment and retail projects currently under way it is expected that many more jobs will become available.

Local housing is surrounded by great schools, parks, easy access freeways, shopping, and jobs. People can choose from many different types of communities to fit their taste.

The Las Vegas Review Journal, a major news paper in Southern Nevada, is asking for voters as it begins the year with its "Best of Las Vegas" poll. Las Vegas residents and visitors are able to place votes for favorite restaurants, hotels, shopping, etc. They will then post the results on the site cataloging the business scene preferences.

If you live in Las Vegas or plan to move to the valley or have visited recently make your vote count. Visit http://www.lvrj.com/promotions/bestoflv.html and take a minute to select your favorites.

The good news: real estate rates may get cheaper and have already been priced cheaper in recent months.

The bad news: savings interest rates will likely take a hit.

MSNBC wrote an article about the effects of these changes on Americans. There will be little change for those with an existing mortgage unless the variable rate is in effect on the loan.

"If you need to borrow money, it might get cheaper. Rates on 30-year, fixed-rate mortgages already have fallen to about 5.4 percent from 6.3 percent six months ago. These rates take their cue from 10-year U.S. Treasury bonds..."

The government, nervous about recession, has cut the key rate by 3/4 of a point from 4.25 to 3.5. Stock markets around the world have been hit hard by recent news about the world's largest market.

"Analysts said the fact that the Fed did not wait until its meeting next week to cut rates underscored the seriousness of the situation."

New home builders in Las Vegas are finding changing trends in the preferences of home buyers. Some searching for Las Vegas properties seek green while others seek organization. Many inquiring about Las Vegas homes want no wasted space and tidy garages. As technology advances real estate developments are looking at smart homes and higher end options. Residents want higher ceilings and "flex space", which is rooms with multiple uses. Granite, stainless steel, and hardwood or tile floors remain popular. The key is to find an agent who can help you locate these home features quickly and then negotiate them into the package.

Reportedly, national homebuilding has slowed considerably from previous years on account of several economic factors. Not all areas are affected so drastically. Las Vegas, for example, has slowed but considerable business developments in the valley over the next couple of years allows home builders to maintain a modest pace of building.

Some areas of the country have been affected more greatly than others. It is important to contact a real estate agent in your prospective area to see how recent trends have affected the local market.

Successful real estate agents are often recognized for the type of car they drive. Many choose a Lexus or BMW or Mercedez or that huge SUV to haul all of those clients. Here's food for thought. We test drove a new Toyota Tundra Crew Max, which was selected as the 2008 Motortrend Truck of the Year, and would consider it as the perfect Realtor vehicle.

It is as roomy as any comfort class car. It has all the gadgets (bluetooth, JBL stereo, Leather, navigation, etc.) and a bed for those pesky open house signs and other bulky carry-alongs. If I lived anywhere rural, even in Las Vegas, I'd have a truck for sure for realty work and the Tundra seems classy and durable.