Many people are not aware of the difference between a “ Buyer’s Agent” and a “Seller’s Agent”. The traditional Seller’s Agent represents sellers and specializes in listing properties. The Seller’s Agent signs a contract or listing agreement and has the responsibility to get the seller the most money possible for the property. If you, as a buyer, call the phone number on a listing sign and ask to see the property, there are a few things you should be aware of. First of all, if you meet the listing agent by yourself at the property, you should know that this agent represents the seller, not you. It is legal for the agent to work with you directly but they must disclose to you that they have a conflict of interest and it must be in writing. A lot of people are not aware of the relationship between the Seller’s Agent and the property owner. Most of the experienced professional Seller’s Agents will recommend that buyers find representation in the form of a Buyers Agent. Most buyer’s agents do not charge a fee to their clients and get their compensation from the seller. There is a trend towards buyer’s agents starting to charge for their time if they are setting up tours for clients that are just getting a feel for the area and have no intention of buying anything. Most people understand that no one could afford to work for free. If you are ready to start your journey for that perfect home that you have dreamed about, you owe it to yourself to find a good buyer’s agent. Probably the most important thing you should look for is someone who communicates well with you. You really do need help in your search and especially when you find the home you want and need to write an offer. Unless you are experienced in writing Real Estate contracts, you would be at a big disadvantage. Can you imagine finding the right home after several months of looking, only to loose it because your offer is unrealistic. Do yourself a favor; find a Buyer’s Agent as soon as possible.

If you have been shopping in the housing market lately you probably have seen or heard of “Short Sales”. What is a short sale? A short sale is a property that has not been foreclosed but is for sale at less than what the owner owes the lender. The owner has contacted the lender and has agreed to put the home on the market at current market value. Since home prices are at record lows, many people owe more than what their home is worth. We have seen many short sale listings that are selling for less than half of what the seller paid for the home. Once an offer is accepted, it is submitted to the lender for approval. This process can be lengthy and can take up to 3 months. The reason for the long process is because the lender is agreeing to lose money and the decision needs to be approved by management. We have been successful at getting many of these short sales approved but you must be patient. Here are a few things to consider when looking at short sales.

• If you need a home in the next 30 to 45 days, a short sale may not be a good choice.
• You will need a pre-approval letter to submit with your offer.
• You may get into bidding wars so get a good Realtor that knows the short sale process
• Many of the short sales actually sell for much more than the asking price.
If your offer is not accepted, move on and find a better bargain.
• Keep Your Las Vegas home search fun and don’t get discouraged.

Our Las Vegas home search 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 previous client’s most important things they look for in the Las Vegas real estate market.

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 and interest rates are at historic lows. Timing is everything. Make 2012 your

When people ask about the Las Vegas Real Estate Market, they always ask if we have hit bottom yet. My response over the past few months has been to check it out for yourself. Our company specializes in representing buyers and we really have noticed a dramatic increase in activity in this market. A lot of our clients are telling us that the handwriting is on the wall. They feel that the market has no where to go but up and as soon as all the bank owned foreclosures get sold, supply and demand will increase prices. The historically low interest rates will also have to go up soon and now, more than ever is the time to step up. If you have read a few of my blogs, you have heard me talk about this before. What we hear most from our buyers is this statement. “ I don’t want to look back a year from now and say , “I wish we would have bought when things were really cheep a year ago”. I’m sure that some buyers in this market will get better deals than others. I’m sure some will get lower interest rates and lower payments but I’m sure most of us will agree that now is a great time to buy. Your timing could not be better. I will include some things that I think are important in your search.

• Bank Owned listings are different than traditional listings in a normal market.
• Find out why banks list their properties at almost to good to be true prices.
• The price or “asking price” is not your main focus. Look at the total picture such as location, amenities, etc
• Yes, their loss is your gain and isn’t it about time.
• Negotiation is a two way street. Both parties need to agree before the offer is accepted.
• Stay in a price range that does not make you “house poor”.

If you have been watching the news, you know that the Real Estate Market in the Las Vegas Valley is heating up. Many of the buyers are taking advantage of the historic low prices. Interest rates are at their lowest since the 1950’s. All of the experts are predicting that prices will start to increase shortly.
The window of opportunity is getting smaller but it is still visible. We have been talking about this for several months and if you are ready to find that dream home, the timing is perfect. My advice would be to buy a bank owned foreclosure and do your homework. If you are paying cash, you will have more flexibility and can purchase some of the exceptional bargains that are not available to someone who needs to qualify for a loan. The longer these homes sit on the market, the lower the banks drop the price. If you are looking for one of these super deals, we can help. Here are a few tips that may help your search.

• Consider the location to be your primary concern, not square footage.
• Multiple offers are common place in this current market. Don’t get discouraged.

• Have a licensed home inspector check the property within your due-diligence.

• If the structure of the home is damaged, make sure you get a pro to give you an estimate.
• Not all bank owned homes are good deals. Get professional help if you are in doubt.
• If the home is in an association, make sure there is no litigation. Read the HOA documents.
• There is a reason why some homes sit on the market for long periods and don’t sell. Be cautious and find out why it hasn’t sold.

• Find a Real Estate agent that specializes in representing buyers only.
• Understand that to get your offer accepted, the offer should be a good deal for both the buyer and the seller.
• Use our website to do your Las Vegas Home Search.

Sometimes, when first time home buyers start their search, they are concerned that they may miss something. No one wants to find out that they paid too much for their home or that they did not shop around enough. Buying a home is probably the single most important and expensive purchase that most people will make in their lives. We know this to be true and take pride in finding the right home for the client. Not everyone has the same wants and needs. A good agent is a good listener and lets the client pick the criteria that fits their lifestyle. If the area of town is the main focus then that is where you should stay. We encourage our clients to look at all the homes in their price range and area of town. It is similar to the saying “leave no stone unturned”. This strategy helps the buyer feel comfortable that they have seen all of the other homes in the area. When you do find the home that you really like, you know it’s the one for sure. Here are some considerations when you find the right home and want to make an offer.

• Does the area of town you like dictate a higher price?

• Have you done any homework online to see how this area of town has held up in these tough times?
• Are the schools in the area considered good to excellent?

• If this area is considered a planned community, does it have any special tax assessments?

• Is the home highly upgraded and if so, how much value does this ad?
• Does this home meet the requirements for the type of loan you are qualified for?
• Are you going to ask for time to check the condition of the home?
• If this home is under priced in the market, are you willing to pay more than

The Las Vegas Real Estate Market continues to show signs of recovery in this Challenging economy. Many of our buyers feel that this market is an opportunity of a life time. I have talked about this several times but I do feel it should be repeated. The banks are starting to respond in a timelier manner. This is a good sign that signals the start of more to come. The bank owned foreclosures continue to lead the market at over 74% of total sales. Most of our buyers are not used to dealing with the banks as the seller.
Many of these foreclosures are listed at fire sale prices that almost seem to good to be true. These listings do generate a lot of attention and if the property is nice, they usually sell for substantially more than the asking price. We should not be shocked that the banks main objective is to sell the property for the most amount possible. Sometimes they just arrive at the sale price in a different manner. We do have to realize that the banks are taking a great loss on these properties so we as buyers need to look at more than just the asking price. Of course you want a smoking deal but you may need to step back and take a look at the total picture. You will notice when you start touring the bank owned homes that there is a lot of interest and a lot of offers being made. Here are some points to consider when you are trying to get an offer accepted.

• The asking price has nothing to do with the true value of the home.
• Just because the home is priced low, does not mean it’s a great deal.
• Your agent should be experienced in bank owned properties and know how to find out their bottom line.
• Location is everything.

• If there are multiple offers, you may need to restructure your offer.
• Remember, it’s your money and you make the final decision.

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.

When you do your Las Vegas home search, you need to know the difference.
A short sale means that the home has not gone into foreclosure but the bank that holds the note on the property is willing to take less than what is owed. The owner of the property has a limited amount of time to sell the home or short sale it before the bank would actually foreclose and take the property back. The main advantage to the seller or owner is that a foreclosure would not be on their credit report. The seller is not allowed to make any money on the short sale transaction. In order to compete against the bank owned homes, short sales are selling for similar low prices and can be great bargains. Have your realtor do a comparative market analyses to give you a good feel for what the property is worth. If the bank will agree to the short sale offer and your offer is below the comps, you just got a bargain. Short sales usually take much longer to get approved so if you need a home in the next 30 to 45 days, bank owned foreclosures may be your best bet. A bank owned foreclosure means that the home is now owned by a bank and you will be making your offer directly to them. The banks normally will respond to your offer in 3 to 5 days and of course, the best offer wins. My best advice to buyers is to not get greedy. Your offer needs to be appealing to the bank or they will reject it and wait for a better one. Here are some other tips that may help.

• Look at the total picture and not just the asking price. If the asking price seems very low, it may sell for more.
• Do not ask the banks to make any repairs. “As is” is the way they sell these.
• Use the banks title co. to do the transaction. Cooperation is the key.
• If the bank is not willing to include a home warranty, buy one yourself.
• Do a home inspection to verify the condition of the property.
• Make sure you have a due- diligence period in the contract.
• You may need to make several offers to get one accepted. Be patient.

We get a lot of clients that search online and find our website. The main key words they type in seem to be Las Vegas home search, Las Vegas mls and Las Vegas free home search. One of the questions that seems to come up often is: “ Do you have access to the secret list of foreclosures that another company said that they have”? “They told us that if we would work with them, they would send us a copy of all the foreclosures that are not even available to the general public”. Well, I think it’s time to shed some light on this issue and I’m going to share with you the real secret. Are you ready? There is no secret list!
That’s right, no secret list. Why would a bank want to keep their foreclosures a secret? Wouldn’t the goal be to sell them as soon as possible and let as many professional agents know about them as fast as they can? Of course and that’s what they do. All bank owned foreclosures are listed with the board of realtors on the multiple listing service or MLS. If your agent has a current real estate license and is a Realtor, they have access to all the foreclosures on the market. Be careful if someone tells you different. Here are three tips to help you find the better buys.

1. Search the areas of town that were most affected when the market dropped. The areas of town that had the most foreclosures have the lowest asking prices.
2. Not all foreclosures are good buys. If the home has been stripped or damaged, be careful and check the comparable sales.
3. Area is everything and more important than the asking price. If you don’t know the area the home is in, get help.