Las Vegas Real Estate Info

CNNMoney.com is reporting that home sales are slowing, condo prices are slipping and sellers can’t get their asking prices.

And even real estate bulls are now waving the caution flag.

If you’re expecting a short-term gain, “you should be looking elsewhere,” says Christopher Mayer, a Columbia University economics professor who not long ago argued that land shortages and rising populations would translate into ever-rising prices in “superstar” cities like New York and San Francisco.

Clearly, it’s time for a re-think, whether you’re mulling over buying, selling, refinancing or remodeling a home or investment property. Or if you’re just wondering, Is our house still worth what we think it is? To read the rest of this article, click here.

A press release found at Yahoo suggests that the Las Vegas media outlets may be overlooking the needs of Las Vegas homeowners. Some excerpts from the release can be found below.

“We have institutional criminal activity on a mass scale and the media have done nothing to help educate and protect the public,” said Consumer Advocate Harj Gill. Gill is also a Mortgage Reduction Expert, Bestselling author, as well Founder & President of American Mortgage Educators.

Attendees at the latest Mortgage Bankers Association fraud conference in Chicago agreed that it is going to take the FBI, state efforts, state attorneys general, neighborhood activists — and individuals — to help prevail against widespread fraud and malpractices.

In Las Vegas, NV where foreclosures rates increased by 99% from January to February, Gill presented a community service seminar to teach homeowners how to avoid losing their homes. In addition to covering all his expenses, Gill donated copies of his book and financial software program to help attendees create a personal foreclosure protection plan.

According to Gill, all requests to the LV media for assistance in promoting the free educational seminar were ignored.

“The tragedy is that thousands of Las Vegans missed out on crucial information to help them save their homes,” he said.

Have you ever considering buying someone’s house out of debt in order to flip it around to sell for better profit? According to the Las Vegas Business Press – you might want to think again. As the foreclosure rate creeps up in the Las Vegas Valley, the options for homeowners in financial trouble may be dwindling. A rise in interest-only and adjustable-rate mortgages have left even the distressed-property buyers saying “no thanks” to many homes a few steps away from auction.

Despite a recent increase in signs around town promising such things as “CASH FOR YOUR HOUSE in 48 HOURS,” “WE BUY HOUSES FAST CASH ANY CONDITION” and “AVOID FORECLOSURE,” the market for mortgage defaults isn’t that good right now, lamented some in the foreclosure-buying industry.

Builder Online is reporting that April’s housing statistics for Las Vegas can be told as a “good news-bad news” story. The bad news is that new and existing home sales in April were subpar. The good news is that inventory appears to be at or very near its peak. The bad news is that condo conversion closings are at their lowest point in 18 months. The good news is that both new and existing home prices are at or near record levels.

This information brought to you by Homes in Las Vegas & Henderson.

Trying to find a realtor to sell your home or buy a home with? Here’s the best way to find the right realtor for you:

Look through your local paper and see which company seems to do the best (or most) advertising. While you may not need the largest realtor out there, you are looking for how descriptive they are. You want to know if they give you a good mental picture of what they offer. Do their ads catch your attention? When you’ve gotten a list of realtors you want to talk to – you want to take a look at how many listings they have.

The more listings does not mean better. You are looking for one who works harder and has a good reputation.

When it comes to the interview, (yes, you interview your realtor) you want to know the following:

*How long has the agent been in business?
*Does the agent have references?
*Has the agent been sued or involved in a legal dispute with a client?
*How well does the agent know the area where you are selling or looking?
*What’s their commission?
*What are they prepared to do for you?
*What is their personality like?
*Do you like them

Ultimately, their personality is going to be their greatest selling point for you. If you do not like the realtor or their attitude, then don’t work with them – it’s a miserable combination to be involved in when it comes to dealing with the biggest sale or purchase in your life.