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. 2010 is your year. Good Hunting and have fun.

You finally found that perfect home. You have spent months searching the internet and your Realtor has shown you so many homes that you can’t remember one from another.
You knew the minute you walked in the front door that this is the one. The floor plan is perfect and the kitchen is exactly what you want. Stainless steel appliances, maple cabinets and your favorite color of granite counter tops. You want to make an offer so your Realtor calls the seller’s agent to find out if this home is still available. Oh No, there are 4 other offers but the seller has not accepted anything yet. What should you do? The asking price is really low, even for a bank foreclosure. None of the other homes that you looked at in this price range even come close. Maybe that’s why there are 4 offers. Here is a list of things that I have learned over the years that have gotten many offers accepted.
• Don’t get greedy! This is the number one deal killer. The offer should be a win for the seller as well as the buyer.
• Bank foreclosed homes are usually listed at close to the bank’s bottom line. Don’t offer a low ball price. If you do not think the home is worth the asking price then move on and look for something else.
• Don’t ask the seller to make repairs if the home is being sold “As Is”. You will have a due-diligence period if your offer is accepted to check for costs to repair.
• Put your best foot forward. If your credit is great and you are putting down 50% your offer may carry more weight than one with a higher offering price.
• Agree to use the seller’s Title Company. This may not seem important but it is.
• Present a full approval letter with your offer. Use a local lender if possible.
• Do not ask for a long escrow period. The sooner you can close the better.

I hope these tips will help. The object of all this is to get the home, not find out what the seller is not willing to take. Your offer needs to be realistic. The banks are already taking a big loss on these foreclosures. Time is running out. This is your window of opportunity.

Las Vegas leads the nation in bank owned foreclosures and for good reason. For many years, Las Vegas has been the fastest growing city in the nation. Investors have been buying homes here for years and when the economy went into the cellar, many walked away from homes that are now worth about half of what they were purchased for. Las Vegas Homes are considered to be one of the best values in the country and with the interest rates at record lows, the timing is perfect. This is a list of very common mistakes that buyers make when trying to purchase a home here. You probably have heard the expression “nothing worthwhile comes easy”. The Las Vegas real estate market is a good example.

• Unrealistic view of the availability of bank owned homes
Many of the clients we work with are under the impression that there are 1,000’s of properties that they will be able to choose from. When you narrow your search down to a price range and plug in all the amenities that you want, along with the area of town that you like, the choices are less than expected.

• The homes in Las Vegas are not selling so I’ll make low offers
The nicer homes in Las Vegas are selling and the really nice ones are getting multiple offers. About 50% of the offers are cash offers. Bank owned foreclosures continue to drive the market and are about 75% of the current sales.

• Don’t understand how to negotiate with the banks to get an offer accepted
You really do need help and should do your homework so you really know the value of the home. Just because a home is listed at a certain price, does not mean that is the value. Many of the foreclosures sell for more than the asking price and are well worth it.

• Get discouraged and give up when they make several offers and don’t get anything
Be patient and good things come to those that wait. Most of our clients do make several offers before they get the one they want. If it’s not meant to be, it’s not meant to be.

• Only look at the numbers and not the total picture
You have heard this many times, it’s all about location. Las Vegas is no exception. The city is very spread out and prices vary a lot. Spend some time researching the area you like. Go to the local shopping centers and restaurants and get a realistic feel.
Have fun, Las Vegas has a lot to offer.

About 75% of the Buyers that we are representing are homeowners and not investors. They are looking at their home purchase as a long term commitment and not a quick turn investment. This is a great time to be in the market for a home. Bank Owned Foreclosures will continue to lead the market in sales for some time to come. Keep an open mind and realize that many of these homes will need repairs. Many are missing appliances and fixtures. Here is a list of things for you to consider when shopping for one of these bargains.

• Make a detailed list of all items that need to be replaced or repaired.
• Go to Lowe’s or Home Depot and find out how much it will cost.
• Have your Realtor include a one year home warranty and have the seller pay for it.
• You will have a due-diligence period to inspect the home. Use it wisely and get a home inspection.
• Many of the Bank Owned Homes that are in good condition are getting multiple offers. Be realistic and reasonable if you want your offer to be accepted.
• Most of the Banks sell these homes “As Is”. Your offer could get rejected if you ask them to make repairs.
• Ask for a short close of escrow period. The bank will like you.
• Get Pre-Approved for a loan, not Pre-Qualified.
• Read all the home owners documents over during the due-diligence period.
• Stay in your comfort zone. (price range).
• Remember, when you make an offer on a property, it should be a win-win for all parties or as my dad used to say, “ take some and leave some”.

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. June has always been one of the busiest 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.

You finally found the home that you really like. It is in the right school district for the kids and within 5 minutes from work. The back yard is perfect for your two dogs and room to ad that pool that you have always dreamed about. After three days of negotiating, your offer is accepted and escrow will be opened tomorrow. How can you, as the buyer, be certain that this home is structurally sound and in good mechanical condition? Most Real Estate Contracts in Nevada have a due diligence period. 10 days due diligence is very common. This means that the seller is agreeing to let the buyer check the property out and if there are problems, the buyer can cancel the contract and get all earnest money returned. What are some of the most important things to look for in an inspection?

• Condition of the foundation. Any major cracks or shifting
• Roof structural condition. Any signs of water damage or mold.
• The air- conditioner and heating units. Do they cool or heat to the right temp?
• Condition of the plumbing. Any signs of resent repairs or water damage.
• If you have a pool, get a licensed pool inspector to check for leaks and repairs.
• All mechanical items, dishwasher, washer-dryer, microwave, stove, etc.

Make sure that the home inspector gives you a detailed report in writing that explains any problems or items that need to be repaired. Most inspectors will provide pictures of items that you can email the seller. It is very common for the buyer to ask the seller to make repairs needed before the close of escrow. If the repairs are minor, the seller should be happy to agree. These inspections are not free and it is the responsibility of the buyer to complete them in a timely manner. A normal inspection will run about 350.00 but well worth the piece of mind that your investment is in good shape.