Las Vegas Properties Blog

Las Vegas’ best “gamble” is for real estate investors looking at the Las Vegas market!  At no time in the last 20 years have investors controlled our real estate market as they do today.  More than 45% of all real estate sales this year have been cash investor transactions.  Cash is King in this market!  Investors can negotiate great deals, some more than 30% under the already discounted prices.  In the past yeaar, I have had 300+ REO listings, and investors have purchased more than 200 of those.  Asset Managers and Banks choose cash deals over any others; those transactions close faster and easier, which is the goal.  With the stock market declining every week, banks paying less than 1%, investors need to consider other options for their money.  So, if you are looking at Las Vegas as the “gambling mecca” of the country, think about real estate as your “casino.”

Finding the right Broker to represent you is key to success!  Brokers who specialize in REO properties have the experience and knowledge to find the most suitable properties — wither that be single family, condominium, land or commercial property.   Not all REO properties are good investments.  The price might be right, but the price is only part of the equation.  Your Broker will provide you with an in depth analysis of the market values for that area,  general comparable statistics that will affect future value, and a market analysis of rents and future profitability of your real estate investment.  Your Broker will know how to structure and present your offer so that you are considered by the Bank or Asset Manager, who probably has multiple offers on every property.   Presenting offers on REO properties is quite different from negotiating on traditional properties.   Your REO Broker will be instrumental in seeing this tranaction through the escrow/closing process, ensuring that the Seller and Escrow Officer fulfill their responsibilities in the escrow process.  To search for REO properties in Las Vegas, call Terri White, Las Vegas Properties, at 702-379-6627 or email terrilvp@cox.net.

Las Vegas has been known during the past 2 years as the “Foreclosure Capital” of the country! And, that is accurate. I have not written very much recently about our Las Vegas real estate market, but, rather, I have devoted the past 15 months to marketing and selling REO/Bank Owned properties. This market has exploded, and my office has sold more than 150 foreclosed properties just in the past 6 months! We are now transitioning into Short Sales, which are an entirely different niche. I would love to hear from other real estate brokers and real estate agents as to how this Short Sale and REO market has affected your transactions and business model.
Have you experienced more bank cooperation in negotiating Short Sales? Has your REO pipeline slowed down, or dried up, over the past several months?
How are you managing your agents and how are you generating sales and revenue? I would really welcome comments from Brokers, Agents and from the buyers and sellers who are trying to navigate this real estate market! Please contact me at terrilvp@cox.net!  Also, visit my website at www.lasvegasproperties.com.  I value referral business, and also appreciate all comments and insight!

LAKE MEADE NATIONAL RECREATION

Las Vegas is more than gaming and entertainment!  One of the most popular and beautiful natural resources in the Las Vegas area is Lake Meade National Recreation Area.  Home to Hoover Dam, Lake Meade offers some of the most beautiful scenery in the west.

Black Canyon

Black Canyon is an 11 mile stretch of the Colorado River, and his one of the most stunning parts of Lake Meade.  Visitors can rent kayaks or canoes at Willow Beach Marina, while they enjoy the wildlife, beautiful scenery and historic sites.  It’s sometimes hard to believe that you can be just 20 minutes from the Las Vegas Strip, in this quiet, tranquil lake.

Nature Lovers Delight!

From the boat launch area, you might see all types of ducks, birds, blue herons, which are elegant burds with a wingspan of 5 to 6 feet.  This area is also home to bighorn sheep, who love the rocky and steep canyon walls, and herds of these creatures can be seen from the lake.  Read the rest of this entry

Summerlin Beauty $120K Under Value!

null

Beautiful Short Sale in Summerlin!  This home features a beautiful Pool, Spa, and custom features thoughout.  It is situated on a large corner lot in the popular community of Summerlin….close to schools, shopping, houses of worship, Red Rock Canyon and all of Summerlin’s community activities.

SHORT SALE!

The Seller is offering this beautiful 4 bedroom home for less than what he paid!  This is a “Short Sale” transaction.  If you are interested in learning how a Short Sale works, and how you can purchase beautiful home in Las Vegas for much less than market value, call us today at 1-888-876-8383 or 702-379-6627.  Or, email Las Vegas Properties at terrilvp@cox.net.

Palms Place Luxury Condo For Sale!        

Palms Place is the success story of the Las Vegas luxury condominium market.  If you would like to become part of the “lifestyes of the rich and famous” in Las Vegas, you can purchase this beautiful 1,200 square foot Palms Place condo that is listed at $775,000.  Many residents are celebrities, while some are local and international buyers who were looking for a Las Vegas vacation home or Las Vegas investment property.

Maloof Brothers Succeed at Palms Place!

Several Las Vegas luxury condo projects have been postponed or have cancelled, but the Maloof brothers seem to have what the luxury condo market requires — a celebrity audience, upscale amenities, name recognition and the financial ability to have built this beautiful property and opened on time.  The 47-story luxury high rise features 599 suites, and is attached to the famous Palms Casino by an enclosed, elevated “SkyTube” that moves residents to and from their condos on moving walkways. Read the rest of this entry

FHA LOANS POPULAR

For the past several years, Las Vegas homebuyers have purchased most homes with conventional loan programs.  That has changed recently, and the FHA mortgages are the most popular loan programs being written by Las Vegas mortgage brokers and bankers.  The federal government has placed great emphasis on the FHA loans and hopes that these loans will help bring new life to the current real estate market.

Las Vegas is a great target for FHA borrowers.  Since home prices have decreased during the past 2 years, as FHA limits have increased, many homebuyers find these loan programs to be their ideal solution. 

The way that FHA loans works is:  FHA insures loans that are originated by approved lenders.  FHA does not purchase loans.  If a FHA insured loan become delinquent, FHA pays off the mortgage to the lender, takes ownership of the home and then sells it as a HUD home.

TYPES OF FHA LOANS

Fha loans are available for purchasing or single family, duplex, triplex or fourplex properties that are owner occupied homes.  The increase in FHA limits have made these loans more popular.  For example, the new limit for single family FHA loans in Clark County, Nevada is $400,512; the limit for a fourplex in Clark County is now $769,250. 

Other changes in FHA loans involve the concessions that are allowed by the Seller of a property.  Sellers can still contribute up to 6% of the loan amount, but down payment assistance from Sellers has been eliminated.  So, a Buyer must have a down payment of at least 3.5% for a FHA loan, effective January, 2009.  There are other underwriting qualifying standards, as with other loan programs.  It is important to deal with an approved and experienced FHA lender. Details about FHA loans can be found at www.hud.gov.  Las Vegas has many FHA approved lenders; if you would like a list of them, contact Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.  Read the rest of this entry

North Las Vegas Welcomes Aliante Station

North Las Vegas is one of the fastest growing cities in the country.  The popular master planned community, Aliante, is home to the brand new Aliante Station Casino and Resort.  Residents of North Las Vegas are really excited about this new addition to the community.  This “destination resort” is a $662 million development that will offer 202 rooms, 14,000 square feet of convention space, beautiful casino, sports book, a 16-screen movie theatre and 650-seat multipurpose showroom.

Station Casinos Premier Properties

The owners of Aliante Station opened Red Rock Resort two years ago, and Aliante Station was designed to give patrons the same upscale feeling in a more family-oriented setting.  The property will have a TGI Friday’s, Dunkin Donuts, Johnny Rockets and a unique lounge that is a combination of a nightclub and video poker bar.  Among the guest rooms are 9 larger suites offering living rooms with marble countertops and 65-inch flat-screen TVs.  The Access Showroom will offer tabletop searing and deep-booth seating, reminiscent of the “old” Las Vegas showrooms. Read the rest of this entry

TPC PGA Tour Summerlin

null

 Last weekend Summerlin and Las Vegas hosted the Justin Timberlake Shriners Hospital for Children Open, formerly knows as the Las Vegas Invitational.  We are all proud of the community’s contribution to this great organization. 

Summerlin’s first golf course, TPC Summerlin, is the first PGA TOUR Tournament Players Club stadium golf course in Nevada.  Opened in 1991, this 18-hole, private championship course was designed by golf course architect Bobby Weed, with play consultant Fuzzy Zoeller.   Tiger Woods had his first professional win at the Las Vegas Invitational in 1996.

 SUMMERLIN GOLF COURSES

The popular master planned community of Summerlin is home to nine golf courses, including Nevada’s only two PGa Tour Tournament Players Club (TPC) courses.  Six of Summerlin’s villages are designed around golf courses, including The Hills South, The Canyons, The Ridges, Sun City, Red Rock Country and Siena.  The golf courses were part of the design of Summerlin to add recreational interest and picturesque settings for its residents.  I have sold many homes to buyers in Summerlin who love golf, or who enjoy the unobstructed views of surrounding mountain ranges and the Las Vegas “strip.” 

The second and only other Nevada TPC stadium golf course is TPC Las Vegas, formerly TPC Canyons, also located in Summerlin.  This daily-fee course opened in 1996 and was designed by Bobby Weed, with consultant Raymond Floyd.

Summerlin’s other popular golf courses are Bear’s Best, located in The Ridges, high above the Las Vegas valley, designed by Jack Nicklaus.   Red Rock Country Club, a private country club in Summerlin, was designed by Arnold Palmer.  Both courses are surrounded by beautiful semi-custom and custom homes priced from the high $600,000’s to several millions. 

Sun City Summerlin offers its residents a choice of 3 public golf courses, while Siena features one very popular public golf course Sun City Summerlin and Siena are age-qualified communities in Summerlin.

Whether you are an avid golfer, or a looking for a home with beautiful views and open spaces, Summerlin is one of the top choices in Las Vegas.  Las Vegas Homes and Condos can provide you with current inventory, pricing and details of amenities offered at every golf course and country club community.  Please call us today at 1-888-876-8383 or email terrilvp@cox.net.

Las Vegas Loves Summerlin!

For those of us who have been involved in the real estate industry in Las Vegas, we have appreciated the continuous success of the master planned community of Summerlin.  Summerlin was the concept of the Howard Hughes Corp, with development that began 20 years ago.  Summerlin’s master planned community model is one of the most successful in the country, for many good reasons.   Summerlin has won the award of “best selling master planned community in the country” for several years, and for good reason.

Summerlin’s Success

Summerlin has always emphasized recreational activities and outdoor facilities, having taken resident surveys to find out what is most important to its residents.  Of the 22,500 acres, Summerlin has 18 paks, several ball fields, tennis courts, swimming pools, community centers, miles of biking and hiking trails and other outdoor facilities.  These facilities fall under the oversight of the Summerlin Council, which serves as an umbrella over the 3 dependent associations that comprise the Summerlin villages.  There are also 3 independent associations that include Sun City Summerlin, Red Rock Country Club and Siena.  Sun City Summerlin and Siena are age-qualified communities, with golf courses and recreational activities for active adults. 

Summerlin Community Events

Annual art fairs, holiday celebrations, golf tournaments, cultural events and sporting events all contribute to the Summerlin lifestyle.  Summerlin is expected to be home to approximately 200,000 residents when the community is fully developed.  Home prices range from the $200,000’s to several millions.  There are new homes, resale homes, townhomes, condominiums and custom homesites within Summerlin.  If you would like more information about the fastest growing master planned community in the country, call Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.

 Las Vegas will be home to the new Jack Nicklaus Academy of Golf.  DragonRidge Country at MacDonald Highlands is the site for this exciting new golf academy.  Scheduled to open in spring 2009, the Nicklaus Academy is the leading golf instruction academy in the world.  This is really exciting news for the both residents and visitors!

MacDonald Highlands has recently opened its newest custom homesite community for sales.  This beautiful community overlooks the McCullough mountain range, high above the valley in Henderson, Nevada.  Just minutes from McCarran International Airport,  the community is close to the nightlife and excitement of Las Vegas.  These beautiful homesites provide a secluded lifestyle surrounding the DragonRidge Country Club, with beautiful views of the Las Vegas strip.  The club offers a spectacular golf course, two dining rooms, cocktail lounge, grand ballroom and luxurious spa and fitness center.  Residents will also enjoy ten acres of parks that include tennis, volleyball and basketball counrts, as well as beautiful hiking trails.   Homesites start in the $700,000’s. 

Las Vegas and Henderson Golf Course Homes

Las Vegas is home to some of the most beautiful golf courses in the southwest.  Whether you are looking for a Country Club home, golf course home or home near a public golf course, there are several choices in Las Vegas, Henderson and North Las Vegas.  Among the golf course communities are Summerlin, Southern Highlands, Anthem, Aliante, Lake Las Vegas, to name just a few.

 If you would like to learn of availability, current pricing and the details of amenities and community features, call us at Las Vegas Properties - 1-888-876-8383 or email terrilvp@cox.net.