Desert Homes Realty specializes in representing Buyers and one of the main questions that we are hearing is “ Do you think that the market has hit bottom yet”? We don’t claim to know the answer but we feel it is very close. What we will tell you is if you are looking for a short term investment, the Real Estate Market may not be for you. We tell our clients that they should look at 3 to 5 years for a recovery. The vast majority of home buyers are purchasing their home to live in and not just as an investment. It makes more sense to most people than renting. A client of ours that just closed escrow last week said that even if their home goes down in value over the next year, it will come back. “ We feel that Las Vegas will continue to be a desirable place to live and we love the area of town that we chose”. The Baby Boomers are starting to retire and the Sun Belt is one of the more desirable areas for retirees. This segment of the population will make a major impact on the economy as has been predicted for many years. Las Vegas has always been very resilient and even in times of a weak economy, Vegas seems to do well. It was on the local news this morning that Las Vegas is Sold Out for News Years Eve. Even in slow economic times, the town does well and continues to grow. Just look at all the construction that continues to go on here, even in these tough times. I’m sure you have heard the analogy that some people look at a glass of water as being half full and others look at the same glass as being half empty. We are not in the business of predicting the future but we look at Las Vegas as “half full”.

Desert Homes Realty helps many new home buyers find the home that meets their needs and in a price they can afford in the most time efficient way possible. If you need help, we look forward to the challenge. Send us an email and include a check list of the most important things that you want or need. Here are some examples of our client’s most important things that they look for.

1. Price Range. Price is not the only concern that buyers have when they purchase a home but it is number one on the list. We need to know the most you are willing to spend and if you are going to get a loan or pay cash. If you are getting a loan, you will need to secure a pre-approval letter from your lender of choice. In most cases, this really is your first step in the home buying process. There really is no need for you to shop for homes or tour homes that are not in your price range. Your lender will also narrow down a price range that will give you payments that you will be comfortable with.
2. Area of Town. The Las Vegas Valley is very spread out. Buyers have many choices in this Buyers Market and can really narrow their search to an area that fits their lifestyle. If you like to be near the Strip or the Airport, but still want to live in a suburban environment, then Henderson may be your choice. If you like mountain views and cooler summers, then Summerlin should be considered. It really is a matter of personal preference and there are many great places to call home in Las Vegas.
3. Size( square footage), number of bedrooms, baths, etc.
4. Lot Size. Larger lots are getting harder to find but are still available in many areas.
5. Schools. Very important for buyers with children. Let us know and we will get your questions answered.
6. Bank Owned Homes. These are where most of buys are in this market today. If you would only like to look at Bank Owned, let us know.

You could not have picked a better time to shop for Las Vegas Homes than now. The prices are at historic lows, the interest rates are very low. Timing is everything. 2009 is your year. Good Hunting and have fun.

We have noticed an increase in activity on our Website in the past several weeks. Our clients are asking for information on the steps necessary to become a homeowner. We tell all our clients that the first step should be to get pre-approved by a lender of their choice.
You are going to need a pre-approval letter to submit with any offer that you make. Almost all sellers will require one before they will even look at your offer. The lender will also tell you what the payments will be and how much down payment will be required. This information will point you in the right direction and keep you in the price range that you are comfortable with. If you have children, schools are also a major concern. We will help you research the schools that you feel will benefit your child the most. Home Owner Associations are another topic that you should be familiar with. Find out what the monthly dues will be and what is included. Many people feel that HOA’s can be difficult to deal with at times but necessary to maintain a standard of care and maintenance to the community. Almost all of the new communities in the Las Vegas Valley have some sort of Home Owners Association. Another important item that we recommend is a Home Warranty. We ask the seller to pay for this and it gives the buyer some protection and piece of mind. They are usually good for a year and will cover most of the mechanical items like the air-conditioning, plumbing, dishwasher, etc. You can renew your Home Warranty every year if you like. Another very important item is a home inspection. When your offer is accepted, you have a due-diligence period. You have a right to have a licensed home inspector check the property and make sure that there is no damage to the home that you were not aware of. If the inspector finds damage, you have a right to cancel the contract and receive all your earnest money deposit refunded to you. Email us with any questions about becoming a Homeowner. We will be happy to help.

As we approach 2009, there are many unanswered questions about investing in the Las Vegas Real Estate Market. Opinions vary but no one has a crystal ball that we know of.
I’m sure we all realize that the economy is down dramatically and it will take time to see this market rebound and prices begin recover. The vast majority of the buyers that are purchasing homes now are taking a conservative approach and are telling us that they think it will be at least 3 to 5 years before things get back to normal. The buyers have many choices right now and are able to purchase homes in communities that were not in their price range 6 months ago. It is very important that you do your homework to get the best value for your money. Location, Location, Location has always been a key factor in determining value and in the Vegas Valley it is critical. If you do not know this city, it would be of great value to hire a Realtor that has been in business for many years in this area. You should find someone that you feel comfortable speaking with and that will be focused on your needs and not their own listings. Desert Homes Realty specializes in representing Buyers and we like to show our clients all the listings available in the area and price range that our clients pick. This eliminates the doubt that there may be something else that the client didn’t see that could be a better value. This also gives our clients a better feel for the market. You, as the buyer, can see what homes are really selling for and not what you heard on the news. The News Media today seems to be more concerned about expressing their opinion than researching the facts. Bank owned homes continue to be the majority of the home sales in Las Vegas at this time. These homes are priced very competitively. Check with your Realtor and find out if they are familiar with the different strategy of the Bank Owned properties. The goal for Desert Homes Realty is to get your offer accepted, not to make unrealistic offers that go no where but the trash can. We will do your homework and try to make the process as painless as possible.

The prices for homes in the Las Vegas valley have hit an all time low. If the market has not bottomed out, it’s very close. I think we all need to realize that the housing market is not the stock market. People are not buying homes as just an investment but as a place to raise their families and enjoy a lifestyle that they have worked hard to achieve. We also have a lot of people that are moving here to retire and live in the sunshine. I guess we shouldn’t tell them about the Snow we got in the last few days but it was a nice gift for Christmas. I have lived in Las Vegas since 1964 and we have had snow before but this was a nice surprise. The Ski Resorts are very optimistic and are looking forward to a good year. As 2008 comes to a close, I think we need to look back and learn something from all this. As Las Vegas continues to grow and prosper, there will be ups and downs in the housing market. Supply and Demand, Interest Rates, the Economy and other factors will play a major roll in the cost for housing here. We are still considered one of the fastest growing cities in the United States. Many people that are in the know here are predicting a housing shortage at the end of 2010. As the bank owned foreclosures get sold and the economy rebounds, we will see a return to a stable real estate market. Las Vegas has too many good things going for it and is still considered to be a great value. We are all very fortunate to be living in this land of opportunity. We look forward to 2009 being a great year.

It is a Buyers Market Extreme in the Las Vegas Real Estate Market! We are noticing an increase in activity on our website: lasvegashomesmlssearch.com. Many of the clients are telling us that they want to take advantage of the low prices before the New Year. The majority of the great bargains continue to be Bank Owned Foreclosures and Short Sales. Most of your experienced Realtors in Las Vegas will tell you that there really are no set rules for negotiating in this market. You really need to take each home on an individual basis. There are different circumstances regarding amount owed on the property or the loss that the Bank is willing to accept. You as the Buyer, also really need to do your homework because you are buying these properties in “As Is” condition. The first thing we recommend our Buyers to do is get a home inspection by a licensed home inspection company and find out what kind damage (if any), that the home may have. If the home has structural damage, you should get an estimate from a licensed contractor and find out if the costs outweigh the price. Water damage seems to be a big concern for many buyers and the possibility of mold.
Bleach water will kill most molds and mildew and the dry wall can be replaced fairly easy at low cost. If you are concerned that the home has toxic mold, have a licensed inspector do a mold test before you make any decision on the purchase of the home. In most cases, the water damage is a fairly easy fix. Many of the older homes in Las Vegas had the A/C units on the roof and water damage is very common below the units. Inspect these areas closely. The building codes have since changed and builders are no longer allowed to put the units on the roof. Happy Home Hunting!

The economy of the United States depends on the Real Estate Market rebounding and Las Vegas should be one of the first to come back. Las Vegas is still at the top as the fastest growing city and major construction projects continue to flourish. Yes, the city has seen a major slowdown in home sales mainly because of Mortgage Market and the inability of buyers to secure a loan. Las Vegas is also at the top in bank foreclosures and there are some tremendous bargains for smart buyers.
We have noticed an increase in activity on our website in the last several weeks and many buyers are telling us that they wish to purchase before the end of the year. Many of the buyers are saying that the interest rates are probably going to go down in the next six months. When this happens, the Real Estate Market should pick up and home prices will start to rebound. We had a client just a few days ago that said she wanted to shop for a home now and have more choices. She said that she heard December was the slowest month in Real Estate so she felt that the sellers would be more receptive to her offers. She was right and purchased a great home in the Aliante area for pennies on the dollar. People in the know in Las Vegas are predicting a housing shortage at the beginning of 2010. Many new Hotels are in the works and business owners are continuing to relocate to Nevada for tax savings among other benefits. As the Baby boomers continue to retire to the Sun Belt, Las Vegas will remain one of the favorites.

This is a great time to begin your search for that dream home that you have always wanted. The timing is perfect with the home prices at record lows. The internet has opened up a whole new world where you can search from the comfort of your home and access listings from all over the world. Can you imagine how difficult it must have been 20 years ago to find out what properties were on the market? If properties weren’t advertised in the Newspaper, buyers would have to drive around areas they were interested in and write down phone numbers of the Real Estate Companies that listed them. The buyers that were more serious would find a Real Estate Agent that they felt comfortable with, and start the long journey of the search. People still managed to find the home that they wanted but it was a time consuming process. About 85% of the Home Buyers today start the process by searching on the internet. We have a website called lasvegashomesmlssearch.com that does free searches for people that just want to get an idea of what is on the market in the Las Vegas area. We are glad to help you get an idea of what is out there and we hope that when you are ready to get serious, you will call us and we can narrow your search. We are considered experts in the Las Vegas Real Estate market and take pride in getting our buyers the best possible value for the money. Sign up on our site today and we will save you time and make this a fun experience.

If you are interested in taking advantage of one of the many true bargains in the Las Vegas real estate market, the time is now. December has always been one of the slowest months in Real Estate for the Las Vegas area and when you combine this with the current economy, it’s the perfect time to buy. We specialize in representing Buyers and pride ourselves on getting our clients offers accepted. The vast majority of our sales at this time are Bank Owned Foreclosures. We take each home on an individual basis and negotiate the lowest possible sales price. This does not mean that every home in Las Vegas is going to sell for a set price per square foot. Location or Area is key, as in any city, and homes in the more upscale communities are more expensive. Most of our clients tell us that the price is not there only concern. If they have children, schools are a major consideration. The convenience of living close to work is also at the top of the list. Many of Our clients tell us that they are looking for a home that blends with their lifestyle and is more than just an investment. If you would like a free list of all the current Las Vegas Foreclosures that meet your criteria, email us at deserthomes1@cox.net.
We will do your homework and make this a profitable experience.

Las Vegas Home Buyers are excited about the great values that are available in today’s market. Bank Owned Foreclosures seem to be the best value and 1st time home buyers as well as investors are taking advantage of these “ Fire Sale” bargains. You will need the help of an experienced Realtor that really knows the in’s and out’s of this type of purchase. Ask your agent if they have been active in this market and how many Bank Owned homes they have sold in the past year. Ask your agent the pros and cons of buying a home in “As Is” condition. Make sure that you get the best value for your money and don’t feel rushed. You will know when you see the right home, it just feels
Different and you know it’s the one.