Las Vegas Homes and Communities

Summerlin Las Vegas Townhome Community

2009-06-28T14:03:00.001-07:00

las vegas townhome - buena vista, originally uploaded by CynAbel.

Buena Vista is a nice townhome community located in Summerlin (just off Buffalo and Lake Mead). Two story homes, one car attached garages, clubhouse, public pool, fitness room, and green spaces.

Want to see more pictures? Click here.

Las Vegas Crime Maps

2009-06-24T11:38:00.000-07:00

Las Vegas crime maps are available online. It is very easy to plug in an address and see how a neighborhood stacks up.

Here are the links:

City of North Las Vegas Crime Map:

http://www.cityofnorthlasvegas.com/departments/Police/CrimeSearchMapDisclaimer.shtm

Las Vegas Metro Crime Map:

http://www.lvmpd.com/crimeviewcommunity/

City of Henderson Crime Map:

http://www.cityofhenderson.com/police/crime_search.php

Recent Real Estate News

2009-06-12T09:46:00.000-07:00

A few stories:

Overlooked Signs the U.S. Housing Market is Turning - talks about the Las Vegas market.

Federal Homeowner Program May be Making a Dent in Foreclosures - Obama's Making Home Affordable Initiative is showing promise.

How to do you own Home Inspection

2009-06-04T10:10:00.000-07:00

I always say to hire a professional home inspector. But, it never hurts to have some information on what to look for in a home prior to making an offer.

Click here to view the video.

Foreclosure Help - Mediation

2009-06-03T10:03:00.000-07:00

A new state law goes into effect in July which allows homeowners facing foreclosure to demand a mediation with their lender. Lenders would be required to produce promissory notes for the loans.

This gives homeowner's a chance to re-negotiate terms with their lenders. This is especially helpful in cases where the lender has not been very cooperative.

The cost will be about $200.

More information here.

Aw Shucks! Client Testimonial

2009-06-02T08:32:00.000-07:00

I need to update my testimonial page. I am fortunate to have some fantastic clients. Here is one testimonial that came in last week.

Dear Cindy,
I just wanted to again thank you for the incredible professional and personal help you provided to my wife and I in our recent search for a home in the Las Vegas area. Being from out of state, made us wonder who we could trust to really listen to our needs and help us make an educated choice - all from 1200 miles away. When I began searching on the internet, I ran across several "well-advertised" realtors and tried to work with them to find a home. Unfortunately, none of them really tried to understand what we were looking for.

When we finally ran across your website, we were impressed. After I emailed you with our basic desires, you set up the best automated search that found the type houses we wanted, in the areas we were interested in. It was even more impressive when we found your email notices gave us "inside" details about each listing that was not found on the standard public realty websites - or from other realtors that we had tried.

I was amazed that you applied no pressure to look at "your" listings like the previous agents had done. We were now starting to learn about the area and listings, all by email and internet. After a few days of looking with your leads on the internet, my call to you by phone further confirmed my belief that we had found a great realtor. Your guidance in directing us away from some areas that looked good on the internet and toward other areas that were family friendly was wonderful.

After another week of searching with your daily email alerts, you recommended that we fly out there to walk thru some of the listings and neighborhoods to further narrow down our choices. I was expecting to get a couple of hours of your time, but was I surprised when you said you would spend whatever time it took to find our new home. We visited about 12 listings as I recall, before we found the 1 that we were looking for.

Again, your advice guided us well in placing a great offer, but the listing realtor was not as helpful since they omitted mentioning that they already had a matching offer in hand - so we lost that one.

Finally, it happened early one morning! I opened my email alerts from you and there it was - truly the home of our dreams. I went to the public realty website and it was NOT there. Could it be a mistake? I hurriedly emailed you, since it was early, and you called back quickly. Since I could not fly out on short notice, you agreed to make a walk through and send pics. Was I surprised when we got not 5 or 10 pics but 50 posted on your Flickr website so we did not have to download or overload our email.

Your site visit confirmed that your website listing was correct so we placed the offer again remotely by email - on a house that we had not ever walked through. In reflection, that did not worry us since on my previous visit there, after the 4th house we looked at, you started predicting what I would like or not like - from my comments on the previous houses. In other words, you didn't just show us houses, you listened and understood what we were wanting.

A few days later you called to inform us that the seller, a national bank had accepted our offer, but needed more paperwork to finalize the offer. You immediately worked with them to get that handled and left us with little to do - except sign the documents. It was amazing that after these days of emails, the public website still had little info on the house. Your website had the info a full 7 days before it was on the public website!!!! THAT GOT THE HOUSE FOR US!

But what now? We were from out of state and had no local (or national) lendor that would handle the loan (due the national lending crisis, where even Donald Trump was on TV saying he couldn't get a loan.) You recommended a local broker and somehow they got the loan approved, insured and closed - even in those trying times. When one of the other firms needed a push to move forward, again you were there to get the deal done so we could move in.

After closing, we were still new to town and living out of state. We needed people to clean and do some fixups on the house. Again, you had great recommendations. These people did an incredible job and we will use them again.

This may sound like a fairytale to others or an infomercial - but it is not. This is the true story of how a pair of Southerners bought a house in Las Vegas, that they had never walked into, and LOVE IT! Thanks Cindy for ALL your work.

Sincerely'
R.G. & Mary Edwards

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You can see why I love my clients!!!

Las Vegas Homes

2009-06-01T23:39:00.001-07:00

Some interesting news stories:

Where recent out-of-state-homebuyers are based - 40% of the homes sold this year have been to out of state buyers. Thisstory has an interesting chart showing where tax bills will be sent. Surprise! California leads the pack.

How many homes do banks really own? - We keep expecting a wave of foreclosures to hit the market. Where are they?

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SW Las Vegas Finally Getting a Library!

2009-06-01T20:01:00.000-07:00

On June 12, the Las Vegas- Clark County Library District is breaking ground on a new library at the corner of Windmill and Rainbow. Here are some details from the web site:

27,096 SF library with additional shell space of 11,342 SF for future growth
86,617 SF service center housing District administrative offices, support functions and centralized materials processing center
9,390 SF, 300-seat auditorium
Seeking LEED (Leadership in Energy and Environmental Design) Gold Certification
Regional building materials and water efficient irrigation systems
Efficient use of daylight to minimize the need for overhead or other lights
State-of-the-art book and media management system

The library is scheduled to open March 2011. It will feature an art gallery, meeting space, computer labs, computer area, and a bookstore.

More information available here.

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FHA Buyers and the $8,000 Tax Credit

2009-05-31T08:25:00.001-07:00

There is some confusion whether this $8000 can be used towards the 3.5% down payment requirement for an FHA loan. Well, it appears this cannot be used towards your 3.5% down payment. However, you can get a tax credit advance to be used as an additional down payment, to buy down your interest rate, and towards closing costs.

Talk to your lender to get the details. You can also read the details here.

Tenants in Foreclosed Homes Must Be Given 90 Day Notice

2009-05-30T09:08:00.000-07:00

Read below from the Greater Las Vegas Association of Realtors:

REO Agents and Investor Buyers Take Note!
New Federal Law Gives Tenants an Extra 90 Days
By Deanne M. Rymarowicz, Esq.
GLVAR Legal Counsel

Earlier this month Congress passed (and the president has already signed into law) a remarkable bill known as the “Helping Families Save Their Homes Act of 2009.” The bill was styled by lawmakers as “an Act to prevent mortgage foreclosures and enhance mortgage credit availability.”

The bill received some media attention, mostly for giving a safe harbor to loan servicers who use loan modifications and other loss mitigation tools to help homeowners avoid foreclosure.

One aspect, though, has largely escaped notice, and it has a far-reaching impact on state law and owners’ rights. That aspect is protection for tenants living in a home foreclosed upon by the lender. A bona fide tenant, whether subject to a lease or not, must receive at the very least 90 days’ notice before vacating the property.

Yes, you read that correctly: a new owner – whether an investor, a buyer who intends to be an owner-occupant, or the bank – who purchases a foreclosed home now takes the home subject to the tenants’ possessory rights and must provide a tenant with 90 days notice before requiring the tenant to leave.

The new notice provisions apply to “any foreclosure on a federally-related mortgage or on any dwelling or residential real property.” In other words, pretty much every home foreclosed on after May 20, 2009 (the effective date of the new law).

To be eligible for the 90-day notice, the tenant must be “bona fide.” According to the new law, a lease or tenancy shall be considered “bona fide” only if --

“(1) the mortgagor or the child, spouse, or parent of the mortgagor under the contract is not the tenant;

(2) the lease or tenancy was the result of an arms-length transaction; and

(3) the lease or tenancy requires the receipt of rent that is not substantially less than fair market rent for the property or the unit’s rent is reduced or subsidized due to a Federal, State, or local subsidy.”

Some tenants may live out the remainder of the lease term if the lease was entered into before the date of the notice of foreclosure. (Because the new owner is required to honor the lease, it appears that the new owner would likewise be entitled to rental payments.) However, if the tenant has such a lease but the new owner intends to occupy the home as a “primary residence” then the owner has the right to terminate the lease as of the sale date, but the tenant still gets 90 days’ notice. If the lease is terminable at will, or the tenant has no lease, the new owner may terminate the tenancy but still has to provide the 90 days’ notice.

For purchasers at the trustee’s sale, the questions become more significant: how to determine if the property is occupied by a tenant or the mortgage holder; what is the status of the lease; what kind of financing and insurance are available if the new owner intends to occupy the home, but legally cannot do so for 90 days?

REO listing agents who are assigned tenant-occupied homes by an asset manager must exercise caution to avoid practicing property management if they do not possess a property management permit. All listing agents should inquire how their clients intend to address the requirements of the new law.

This federal mandate expires on December 31, 2012.

The ramifications to this bill are extensive and completely overwrite the provisions of NRS 118A and NRS 40. Simply put, Nevada’s “three-day notice” for bona fide tenants living in a foreclosed home no longer applies. More notice, and a greater awareness of federal mandates, is required.

Loan Modification Now Available for Second Mortgages

2009-05-05T10:38:00.000-07:00

The Making Home Affordable Program has now expanded to include second mortgages. Under this Second Lein Program, modification of the first mortgage will reduce the payment on the second lien.

More information is available here, and here (pdf document).

Second and Investment Home Guidelines

2009-04-03T09:08:00.000-07:00

Here is some recent information emailed to me by a local lender re. loan guidelines for second and investment homes.

Cumulative Required Reserves
1. Subject property is a second home: two months reserves
for each residential property owned, excluding the primary residence or those
owned free and clear.

2. Subject property is an investment property: Six
months reserves on subject property investment property plus two months reserves
for each other residential property owned, excluding the primary residence or
those owned free and clear.

Detailed Clarification
1. The reserves are calculated using the full PITI for
each property - P&I, taxes, insurance, HOA dues (excluding any utility
charges), mortgage insurance, ground rents, special assessments, subordinate
financing, etc.

2. DU has not yet been updated to calculate the
required reserves for the subject property, and will not be able to calculate
the number of other financed properties owned. Therefore, underwriters
must manually apply the reserve requirements to second home or investment
property transactions.

3. Example: Borrower is financing an investment
property with a proposed $900 qualifying payment, and also owns another
investment property with a $700 PITI payment, and a primary residence with a
$1,600 PITI. The required reserves are 6X $900 plus 2X $700, for a total
of $6,800 (do not include the primary residence in the reserve
calculation).

Thank you to Steve Mevorah, Icon Mortgage for this information.

Las Vegas New Homes: Builder Deals and Discounts

2009-03-23T19:01:00.000-07:00

New Builder Pricing! Base Prices starting from $160K

SW Las Vegas Community (Blue Diamond near Rainbow) - Gate community with a community pool and tot lot - Square footages start at 1366 and go up to 1776 - Up to 5 Bedrooms - Low maintenance community

Interested? Contact Us

Don't forget - if you are looking for Las Vegas homes for sale - visit our Web site.

Las Vegas New Homes: Builder Deals and Discounts

2009-03-23T11:13:00.000-07:00

Looking for Las Vegas new homes deals? Southern Nevada Realty has them.

Remember, the builder pays our fees and commissions. This allows you to be represented in the transaction without having to incur extra closing costs. We will be there to help you every step of the way.

Close Out Pricing!! $119,000 (price includes builder incentives)

Two Story - 1342 Square Feet - Cul de Sac Lot - 3 Bedrooms - Low E Windows - GE Appliances - Located at 95 and Tropicana.

Contact us for more details.

Las Vegas New Homes: Builder Deals and Discounts

2009-03-19T09:09:00.000-07:00

Looking for Las Vegas new homes deals? Southern Nevada Realty has them. Here are a few items builders have notified us of over the past week.

Remember, the builder pays our fees and commissions. This allows you to be represented in the transaction without having to incur extra closing costs. We will be there to help you every step of the way.

SOUTHEAST:
Lamplight Gardens at Silverado Ranch
Lilac Plan - 1,286 square feet
Priced as low as $175,990

Mockingbird
Calistoga Plan - 1,907 square feet
Priced as low as $209,990

Fiesta Park near the Fiesta Casino
Recently Reduced
Acapulco Plan - 3,181 square feet
Priced as low as $325,990

Clermont in Anthem Highlands
Builder Close Out - Only 5 homes remain!
Tropez Plan - 1,898 square feet
Priced as low as $266,990

NORTHWEST:
Remington Place
Walnut Creek Plan - 1,987 square feet
Priced as low as $214,990

Antelope
Roan Plan - 1,302 square feet
Priced as low as $172,990

Hampton Glen inside of Providence
Easton Plan - 1,795 square feet
Priced as low as $210,990

NORTH LAS VEGAS:
Sage Creek
Santa Monica Plan - 1,760 square feet
Priced as low as $175,990

Diamond Point
Santa Clara Plan - 2,714 square feet
Priced as low as $247,990

Walnut Grove
Aspen Plan - 2,217 square feet
Priced as low $200,990

NORTH CENTRAL:
Lexington Park
San Carlos Plan - 1,531 square feet
Priced as low as $175,990

New Homeowner Affordability and Stability Plan

2009-02-18T10:46:00.000-08:00

The Obama plan resources and news:

Financial Stability.gov

Washington Post

What people are saying

Top 10 Dreamy Neighborhoods

2009-01-23T11:26:00.000-08:00

FrontDoor.com named the Top 10 Dreamy Neighborhoods in the country. Check out the list to see if you neighborhood made the grade.

Meanwhile, here are some of my quick picks for dreamy Vegas neighborhoods:

* Summerlin
* The District
* Southern Highlands
* Any Las Vegas retirement community

There are many more, but I've got to run now.

Sun City Summerlin

2009-01-21T20:47:00.000-08:00

Thought you would enjoy viewing this slideshow of some of the recreation facilities located at the Las Vegas retirement community of Sun City Summerlin.

Residents enjoy four recreation centers, three golf courses, swimming pools, fitness centers, and tons of activities including aerobics, raquetball, tennis, shuffleboard, ping pong, horseshoes, and much more.

Remember for more information contact us.

Housing Markets will Roar Back in 2009

2009-01-07T11:47:00.000-08:00

Interesting story re. 2009 and the real estate market. One highlight:

“With 4.5% fixed mortgage rates, housing prices lower than they were 'pre-housing bubble', commodity prices lower, tax credits available for homebuyers, and the government eager to stimulate our economy, for the first time in years I can see prices rising again in 2009” adds McGee. “This is a great time to buy properties for investors -- to buy properties at wholesale prices below today’s already low prices -- rent them out for positive cash flow and then sell them for big profits in late 2009 once price appreciation kicks in."

read it all by clicking here.

Let it Snow, Let it Snow, Let it Snow

2008-12-16T10:58:00.000-08:00

I took this yesterday after a signing appointment. It was taken at The Lakes.

Today, we have sunny mostly clear skies. But, the snow is covering the mountains that surround our valley. Beautiful!

Las Vegas New Homes: Builder Deals and Discounts

2008-12-08T14:39:00.001-08:00

Looking for Las Vegas new homes deals? Southern Nevada Realty has them. Here are a few items builders have notified us of over the past week.

Remember, the builder pays our fees and commissions. This allows you to be represented in the transaction without having to incur extra closing costs. We will be there to help you every step of the way.

Brand New Homes: Mid 100's - Ready to close!
Community near Tropicana and 95.
3 Bedroom - 1327 Sq. Ft. - 1 car garage -$148,965 and no closing costs!
3 Bedroom - 1342 Sq. Ft. - 1 car garage - $157,715 and no closing costs!
3 Bedroom - 1342 Sq. Ft. - 1 car garage - $155,240 and no closing costs!

SW Homes - Under 200K
Located near Mountain's Edge on Blue Diamond
3 Bedroom - 2 Story - 2 Car Garage - 1403 Sq. Ft. - $173,190
3 Bedroom - 2 Story - 2 Car Garage - 1514 Sq. Ft. - $174,990

North Las Vegas Homes - New Lower Pricing
$0 dollar down programs available.
3 Bedroom - 2 Car Garage - 1749 Sq. Ft. - From $189,990
4 Bedrooms homes with 3 Car Garages available from $239,990

Near Sunset and 215 - Starting Prices Under 200K
Three models available with pricing starting at $189,990. Three to four bedrooms and some plans have lofts! 1534 Sq. Ft. up to $1841 Sq. Ft. All Two story homes.

Contact us to see any of these homes.

Anthem Center in Sun City Anthem - Henderson Nevada Retirement

2008-11-28T07:55:00.000-08:00

If you are looking for a Henderson retirement community with fantastic recreation amenities you don't have to look further than Sun City Anthem. This 55 plus community features Anthem Center (77,000 sq. ft.) and Independence Center (36,000 sq. ft.). A third recreation center is on its way.

These facilities offer the residents of Sun City Anthem: indoor and outdoor pool and spa; bocce ball; tennis courts; fitness center; aerobics room; computer room; indoor walking track; wellness center; ceramics; sewing; card rooms; billiards; woodworking shop; and much, much more.

Interested in a tour? Contact us.

Las Vegas Rental near Centennial Hills Hospital

2008-11-26T18:29:00.001-08:00

Are you looking for a great rental? I have a gorgeous rental available in the NW part of town. This is a single story home with four bedrooms, a formal living and dining room, family room, informal dining area, and a nice big kitchen with a breakfast island and bar.

This is an upgraded home with granite counters, travertine flooring, hardwood flooring, and upgraded carpet. This home has low E windows and wood blinds.

The rental is only $1795 per month. The home is located in the NW part of town not far from Centennial Hills Hospital.

Las Vegas Housing Stats - October 2008

2008-11-20T08:21:00.000-08:00

The October stats are out! Here they are for your enjoyment.

Single Family Residential:
The number of available homes for sale in October 2008 was 22,929 (again, not much of a change).

The number of new resale home listings in October was 5,551 a increase of approximately 3% over September 2008. This is approximately 6% more than the same time last year.

The number of sold home listings (2,718) decreased by 2 percent over September 2008. It was a 179% increase over the same time last year. Approximately 47% of these homes had been on the market for 30 days or less. The median price of the sold homes during October 2008 was $190,000. This is approximately 30% less than the same time last year.

Condos/Townhomes:
The number of available condos/townhomes for sale in October 2008 was 5,531.

The number of new condo listings in October 2008 was 1,235 an increase of approximately 10% over September 2008 and a increase of approximately 7% over October 2007.

The number of condo/townhomes sold in October 2008 was 414. About 38% of these condos or townhomes sold in 30 days or less. The median sold price of the condos or townhomes during October 2008 was $109,575. This is approximately 36% less than the same time last year.

Source: Greater Las Vegas Association of REALTORS.

Window to Negotiate with Sellers is Closing

2008-11-18T09:29:00.000-08:00

Dan Green, mortgage guru, says:

There are a few reasons for home supply dip:

1. Home buyers are keenly aware of the negotiation leverage they have over sellers and they know how to use it
2. Banks are getting good at selling foreclosed homes

These two elements combined to help homes sell like hotcakes during what is typically a "slow" month in real estate, boding well for the housing market going forward. The figures are consistent with the other housing data from last month that showed more homes under contract and more homes selling.

You can read it all by clicking here.

I know what he means about "slow" month. My month so far has been busy, busy, busy. Buyers are flocking to town in what is usually my time to catch up and work on my Web site.