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las vegas: Has Las Vegas Real Estate Hit Bottom? - 09/19/07 05:12 PM
I was just reading Richard Lee's latest article that says less than 30 units separate total sales figures for the last four months. This usually signifies the bottom of the market, however he also noted that until we see the upward swing, foreclosures are going to be the reality.
To go along with that, today's news of the fed lowering interest rates by 1/2 % is good news for all in Las Vegas wondering what is going to happen next.
As Richard says, September data is what we are truly waiting for to read the future. Of course, they won't be available until October.
On … (0 comments)
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las vegas: $150,000 Condo - Reduced $25,000!!! - 09/13/07 03:51 PM
REDUCED $25,000!!!!
Recently updated with new faucets and granite counter tops in the kitchen and bathroom. Soaking/ garden tub. All new ceramic tile with diagonal layed tile in the kitchen. Stainless fridge, stove, dishwasher & microhood. Custom paint in living room. Ceiling fans in master and living room. Formal dining area. Seperate laundry room off of kitchen with storage.
1 Bed, 1 bath, 775 sq ft with balcony and storage. Custom paint in living room.
3 miles to the strip, 6.7 miles to Mc Carran Intl Airport.
This is a pre-foreclosure. Sellers loss is your gain. Willing to do down payment assistance.
… (9 comments)
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las vegas: City Center Power Bill. - 08/30/07 06:36 PM
I got this info from one of my title reps. I am still trying to validate the numbers. Although they seem quite high, this very well could be correct....
Daily power bill - $300k
1/3 of buyers are local. 1/3 from California.
They estimate 20 to 30% of their buyers will live there full time.
Avg price is $1,600 per sqft.
$1.4 billion in sales so far
Construction cost is about $4 million dollars a day and will increase to $7million per day! (WOW)Currently 4000 men working on the job site. This will be increased to 7000 in March
They have a seven person team that does … (0 comments)
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las vegas: Properties listed 20-40% under market value. - 08/21/07 07:25 PM
I've discovered a search method to find properties in Las Vegas that are listed under market value (Comps) and even quite a few that are under a recent, 3 month or less, appraisal or under comparable sales in the last 3 months. I am using the 3 month guidline as I am seeing that more and more lenders are tightening up their appraisal guidlines to only allow comps from within the last 3 months.
Some examples:
Priced at 849,000 - Appraised at 1.1M. That is about 23% under. I even talked to the appraiser and he will still put it at an easy 1.1M today, … (0 comments)
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las vegas: Why it's Time to buy in Las Vegas. - 08/21/07 05:46 PM
The GLVAR (Greater Las Vegas Association of Realtors) came up with some great points on why now is a great time to buy in Las Vegas.
Mortgage interest rates remain at historically low levels, effectively lowering the cost of buying a home. It is not clear when interest rates will begin to rise. However, economists and other experts generally agree that rates are unlikely to fall significantly in the near future.
Southern Nevada's economy remains stronger than most metropolitan areas, with steady job and population growth. According to Las Vegas Perspective, Clark County added more than 96,000 new residents in 2006. This bodes … (1 comments)
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las vegas: Update on Sunday Hudson and Marshall Auction - 08/06/07 11:48 AM
If you weren't at the Las Vegas Auction on Sunday, August 5th, you missed out on an excellent real estate experience.
I got to the event and noticed that tons of cars were pulling in and that valet was full even @ 11:30 on a Sunday. As I walked in to the event I was talking with the lady next to me as I saw property printouts in her hand. We got to the registration tables and and waited about 2-3 minutes to sign in and get our "paddles". After that we sat and talked, looking over comps I had brought. She … (0 comments)
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las vegas: Foreclosure Auction - 08/02/07 10:25 AM
Man have I been busy. Last Saturday and Sunday I sat at an open house for a home that was getting ready to go to auction this Sunday (August 5th).
There are going to be about 90 homes up for auction this Sunday, all of which are bank owned. The auction company is Hudson and Marshall.
I've never looked at auctions before because I have been under the predjudice that they are not a good deal, agents don't get paid, the process leans in favor of only the seller, etc. Sort of like going to court house steps.
The thing I have found out … (0 comments)
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las vegas: Interesting comment on Southern Nevada Economy - 07/12/07 10:10 AM
Every month I get the UNLV CBER (University of Las Vegas Center for Economic Research) Indices report which contains information on trends, historical data and forecasting on Southern Nevadas economy as well as comaprisons with Las Vegas, Clark County, Nevada and national economic growth.
There was a comment in one of the reports that said:
The CBER Clark County Business-Activity Index has slowed from a strong pace to a more moderate rate of late. In April, the rate was up 0.42 percent from March and only 1.62 percent from the same month a year ago. We attribute continued growth to strong construction along the Strip and … (0 comments)
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las vegas: Foreclosure Open House Number 2 - 07/06/07 05:33 PM
I finally recorded another video podcast from one of the foreclosure, bank owned open houses that I do. This one, unlike the last one, is in need of some repair. SERIOUS REPAIR. I think the previous occupants owned stock in a tobacco company as it smells like they smoked about 7 packs an hour.
This house is located in Henderson off of Sunset and Eiger. It is a townhome with 1200 sq ft, 2 bedrooms upstairs each with their own bath, loft, 1/2 bath downstairs and a decent sized kitchen considering the sq ft. while still leaving a good sized living room … (0 comments)
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las vegas: Echelon at Centennial Hills - 06/29/07 07:17 PM
I got invited to the first broker event at Echelon at Centennial Hills which is a mid rise in Norwest Las Vegas.
The location offers views of the Las Vegas Strip and surrounding mountains, 15 different floorplans, private terraces, computer alcoves, granite counters, subterranean parking, garden patios, walkways and pools, guard gated entry, a 2 story clubhouse, fitness center and many other ammenities.
The interior appointments include structured wiring system for telephone, cable TV & intra/internet, 50 gallon water heater, alarm pre-wire, soft water loop, decorator coordinated light fixtures, bull nose corners, satin nickle door hardware, raised panel doors, utility area, elevator and trash … (0 comments)
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las vegas: Down Payment Assitance in trouble. - 06/18/07 11:18 AM
I bought my first house before I became an active real estate agent. Back then, homes were affordable, the average ones hovering just above the triple digits.
I'd saved the 3% required by FHA for down-payment but didn't like the idea of being newly married, starting a new family, and using most of my savings to get a house thus eliminating a major portion of my savings at the same time.
A REALTOR here in Las Vegas (now my broker) turned me on to the Nehemiahprogram and helped me get my first house without using my savings for down-payment.
Now, my favorite programs are … (3 comments)
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las vegas: Las Vegas Foreclosure List - 06/04/07 05:51 PM
If you are looking to buy a foreclosure home in Las Vegas, I have set up a search that will email you the latest foreclosures when they hit the market.
The search also let's you log into a personal website for you so you can make changes at anytime such as number of bedrooms, location, size, price, baths, lot size, garage, etc.
To get set up on this daily list of new foreclosure properties in Las Vegas, visit the link below.
http://johncalvert.net/reo/default.asp
… (0 comments)
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las vegas: Las Vegas Real Estate Stats... Do the math. - 05/30/07 06:15 PM
I'm going to show you some numbers that will give an idea of what is really happening with the Las Vegas housing market and not a bunch of speculative PR junk. At the end, however, I will do a sales pitch. ;)
25,018 Homes, Condos and Townhomes for sale in the Las Vegas valley (Las Vegas, Henderson, North Las Vegas, etc. not including Boulder City or Pahrump) GLVAR MLS right now.
2,117 solds in the las 30 days.
That gives an absorption rate of 11.82.
What that means is a property listed today should sell in about 11 to 12 months... in a mathematical world where no new listings are taken. Some other factors to consider are area, … (0 comments)
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las vegas: Eight Common Ways to Hold Title in Nevada - 05/29/07 03:39 PM
HOW YOU TAKE TITLE - ADVANTAGES AND LIMITATIONS:
Title to real property in Nevada may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownershp of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference eight of the more common examples of Sole Ownership and Co-Ownership.
SOLE OWNERSHIP
A man or woman who is not married. Example: John Doe, a single man.
An Unmarried Man/Woman: A man or woman, who having been manied, is legally … (1 comments)
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las vegas: This weekend.... SUMMER STARTS!!!! - 05/25/07 06:06 PM
Memorial Day marks the traditional beginning of summer and the start of the most popular season in real estate. If you're in the market for a new home, get a jump start by getting pre-approved for a loan by a trusted mortgage broker.
Buying a home can be an overwhelming process. A pre-approved loan agreement outlines what you can afford to buy, so when the time comes to start shopping you and your real estate agents have a set price range to follow in finding your perfect home.
There are also other reasons to get pre-approved for a loan. When you find that … (0 comments)
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las vegas: SELLING VOUR OWN HOME... - 05/24/07 11:56 PM
...and other feats of the daring!
I've been working with a lof of FSBO's since I opened my newest site, LVFSBOINFO.COM.
This is a paper that a major escrow / title company in Las Vegas gives out if you are selling your home without a state licensed real estate professional:
BETTER LOOK BEFORE YOUR LEAP!
Most people realize that selling their own home can be costly, time consuming, and even risky. Unless you are just naturally lucky, you will need the help of a real estate professional for many reasons. Let's consider some of these reasons:
WHAT'S THE "RIGHT" PRICE?
There are many, many factors that dictate the … (0 comments)
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las vegas: Pay it forward. - 05/21/07 03:44 PM
I ordered my coffee from the drive thru at Star-bucks. As I pulled forward the lady handed me my coffee and said that the it had been paid for.
The person in front of me had paid for mine. The lady said that they have been doing this all day and I was under no obligation to pay for the person behind me.
So what was I to do? TAKE OFF!!! I JUST GOT MY COFFEE FREE!!!!
No, I paid for the people behind me. It was what I wanted to do, and guess what? IT FELT GOOD! I thought it was a pretty cool … (7 comments)
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las vegas: Video Report From A Henderson Area Bank Foreclosure Open House - 05/18/07 03:56 PM
I sat an open house that is a bank foreclosure in henderson and decided to get out the webcam and shoot a quick video about the house and the area. Also I talk a little about the foreclosure market in Southern Nevada.
If you want more information on this house or any other foreclosures in the Las Vegas area, I would be happy to assit you.
If you are not in the Las Vegas area and want to buy or sell, let me know and I can connect you with a professional in your area.
… (1 comments)
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las vegas: Las Vegas Single family Sales Statistics for April 1st - 30th 2007 - 05/14/07 12:21 PM
Click here for a full report on Las Vegas Real Estate Sales Statistics
To find out what your home is worth click here.
To get properties emailed to you the second they are listed click here.
… (0 comments)
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John Calvert
Boulder City,
NV
More about me…
Desert Sun Realty
Address: 1220 Arizona St, Boulder City, NV, 89005
Office Phone: (702) 293-0001
Cell Phone: (702) 324-7133
Email Me
Las Vegas Real Estate reports, appreciation and events that affect the housing market.
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