Las Vegas Real Estate Info

The Las Vegas Business Press reports that Proposition 13 has become almost legendary for its people power rebellion against escalating property taxes. So it’s no wonder that the property tax restraint initiative that aims at limiting taxes to small increments from last year’s values is calling itself Nevada’s Proposition 13. The initiative would amend the state constitution and abandon the current system of taxing all property equally with a scheme that would freeze all real estate at its 2003-2004 values and allow only incremental increases until the land is sold or developed. If you’re a current home owner with a modicum of faith in Las Vegas’ future, you can’t help but vote for this because values will rise but you won’t get hit with any more than inflation or 1 percent (whichever is the greater) rise on your tax bill.

Proposition 13 could definitely make things better for current home owners and future home buyers adding more boom to the real estate boom in the Las Vegas Valley. This information brought to you by Las Vegas Homes and Real Estate.

Communities in the Las Vegas area are struggling with the impact fees needed to continue municipal and city development. Developers are assessed fees to help with road work and sewage changes that their developments will cost the city. But those fees do not cover new firestations, new parks or even municipal services like area maintenance.

With the rapid growth in the Las Vegas area, city councils are contemplating hiring consultants in order to facilitate choosing the best way to handle the impact fees the new developments are generating for the cities. When checking out a new area, it’s worth investigating the measure of property taxes and local taxes as well as fees in order to see how the city is handling the impact fees for your new home.

This information brought to you by North Las Vegas Homes.

Make your job easier by creating a list in priority order of the features you’d like to have in your home and why. You want to use this list as your search guide. It will be important to remember that depending on how much funding you have, you will need to make some compromises. Be sure to include the ideal locations of where you want to be and tell your realtor about it. Location influences a lot of how a move will go. It will help you and the realtor narrow down potential homes in that location to match the priority list. So start your priority list today in order to find your home!

A recent court decision is expected to give the state’s right-to-repair law more significance. Senate Bill 241, enacted in August 2003, requires that homeowners give builders a chance to repair defects before filing a lawsuit. The law was intended to reduce the number of defect cases and shotgun claims overloading courtroom dockets. The state high court ruling makes it far more difficult and costly for homeowners to pursue class-action suits since the owners of each residence must now prove the specific defects of their house.

And while it could result in more claims being filed, the claim amounts will be much smaller. Legal experts, however, feel that construction-defect attorneys will now be unwilling to take on cases that require more work for smaller payouts.

For more information read the article in Las Vegas Business Press.

This information brought to you by Las Vegas Homes and Real Estate.

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