Las Vegas Real Estate Info

Changes in the real estate market are sparking changes overall in trends for buying, selling and much more.

As the spring selling season moves into high gear, the cooling housing market is upending the conventional wisdom that guided buyers and sellers during the housing boom. The changing dynamics have implications for a wide variety of players in the real-estate market. Some brokers are advising sellers to price their homes in the bottom 25 percent of comparable properties. People looking to enter the market for the first time are being told not to overly stretch their finances because rising home prices may no longer bail them out. Employees who are relocating are being advised to steer clear of new subdivisions where competition from brand new construction could make reselling soon difficult. For more on this article, click here

This information brought to you by Las Vegas and Henderson Homes.

In Business Las Vegas reports that the number of resale homes sold in the Las Vegas Valley continues to slide, while the price for those homes hovers around $280,000, a local research firm reported. In its monthly report on the state of Las Vegas residential real estate, Home Builders Research Inc. reported that there were 3,203 resale transactions in February, bringing the 2006 total to 6,460 — a year-to-year decline of almost 11 percent. The median price of a resale home in the valley declined in February to $282,000 — a month-over-month decline of $3,000 — but a $22,000 increase over the same month a year ago. For more on the article click here.

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There’s some popular theories flying over the Internet about investing a couple of hundred dollars and seeing it return 50 fold. How? By investing in real estate. There are brokers and wheel dealers offering to teach you how to do what they did. These gurus promise to show you how to turn 500 dollars into 50,000 dollars. How you can expensive homes with only a few hundred down and turn around and sell them at an even higher markup.

It’s a nice idea — in theory. But most real estate investments work because you have business partners to help you absorb costs. You have business plans that detail the area, the demographics, the turn around time and yes, the sale price that will recoup not only your investments, but also turn some profits. Don’t be pulled in by a real estate scheme. Keep your eyes on the bottom line and if you want to invest in real estate, talk to a real broker and not a wheeler dealer offering to “sell” you their expertise.

This information brought to you by Henderson Homes.

You can buy just about anything on EBay. The popular auction house is pretty diligent in halting fradulant auctions and backing up buyers when sellers fail to produce. But if you want to buy a house or a piece of land, how trustworthy is it to believe some photographs and an auction listing? Can you really get a good deal?

It is possible, but whether buying from a broker, a friend or an auction house, you’re better off showing due diligence before you let money exchange hands. Frankly, if a deal seems too good to be true, chances are it is too good to be true. There’s no sense in letting a hustler take you for a potential good bargain when just a little bit of legwork and a phone call to a land surveyor could save you.

When it comes to real estate investments, who is more informed than the Internet speculator? Sale figures, foreclosures, property taxes and much more are now available with just a few keystrokes at the computer. The fingers do the walking on the Internet far more than the Yellow Pages could ever have dreamed of. Unfortunately, Internet listings can be as outdated as offline listings if the site is not properly maintained. Sales, changes in listings and even relistings don’t always make the prompt transition from realtor to real estate search engine.

When you find something that you like on the Internet, go the extra step and make a few phone calls. A sale could have closed that morning or the house could be under contract. Some realtors will continue to let a house be seen even when it’s under contract because a contract could fall through. It happens all the time. So if you find one you like and it’s under contract, ask them to call you if the contract fails — you may just get the house you wanted after all.

This information brought to you by Henderson Homes.