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Posts Tagged ‘Buying a House in Las Vegas’

Reasons to Buy Multi-Family Units in Las Vegas, NV

Thursday, June 17th, 2010

Have you always wanted to put your family in a mansion without the steep price tag? Maybe you enjoy having space, but just can’t afford to purchase a 15,000 square foot home. Las Vegas offers some of the best multi-family living situations in the country. If you have considered purchasing a unit in a multi-family home, now is the time to change that idea into a reality. Las Vegas offers some of the most reasonably priced multi-family units within the entire country.

Many families are concerned about moving to Las Vegas, and rightfully so. Las Vegas has a reputation for being a party city, also called the “sin city.” While this is a major selling point of Las Vegas, do not feel like your family’s values have to be diminished because of this commercial feature. Other families need to move to Las Vegas for job opportunities, and multi-family units can offer you a great environment to support one another in your family values.

Many families seek to buddy up with a family they already know or meet through social networking sites to do a multi-family home. It creates an affordable situation for everyone, in addition to a positive community atmosphere. If this sounds like your type of living situation, then you should contact a Las Vegas realtor today to discuss this possibility.

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Good Deals to Be Had for Condos in Las Vegas, NV

Tuesday, May 25th, 2010

Even with the recent economy struggles, there seems to be plenty of opportunity when it comes to purchasing condos in Las Vegas, NV. With numerous options to choose from, both close to the infamous strip and further away in suburbs such as Henderson, there is no shortage of great deals around. In fact offers being made are often being accepted even when the offer is under the asking price.

Another great prospect is to consider choosing a fixer upper in order to save even more money. Often times a little paint and new carpet is all it takes to spruce a place up but the selling price reflects a huge loss for the seller. In the end it all comes down to being in the right place at the right time, and right now seems to be the time to be in Las Vegas, Nevada.

Condos with exclusives club houses and pools are available, gated communities safe for the whole family are on the rise and even condos overlooking the exciting lights, sounds and action of the Las Vegas strip can be had at a reasonable price- one some people might even find too good to be true. Whether you live here already or not, come on down and take a look at what is available and how you can steal a condo in Las Vegas, NV yourself. You won’t be sorry you took the time to do it, because with prices like this they’re bound not to stick around.

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Investment Properties in Las Vegas, NV

Monday, May 3rd, 2010

There are many places in the United States where property investment is not a good idea right now. The economy is just now beginning to recover and foreclosures are still high. That being said, Las Vegas is not one of those places. There have been several reasons why investment properties in Las Vegas have remained a good buy. The two most popular reasons are…

Tourism

Las Vegas prides itself in being able to continually bring in a large number of tourists to not only visit, but to gamble. This in turn has caused Las Vegas properties to increase in value, even as the economy continues to struggle. With the opening of the China Market, Las Vegas has even started to increase its numbers of Chinese tourists.

Air Base

Las Vegas is home to one of the largest air bases in the entire country. This air base also has a large amount of Federal Government workers employees. Since the air is Las Vegas is dry and humid, it is the perfect place to keep the air base. The total number of Federal Government employees is large enough that even with workers leaving, more are always coming. This helps keep rental prices stable and down.

These are just a couple of factors to think about when you are deciding whether or not you want to invest in property in Las Vegas. Prices are at an all-time low and now is the time to take the property investment plunge. This is a decision that could set you up well financially in the future.

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Multi-Family Units in Las Vegas, NV

Thursday, April 15th, 2010

The term multi-family encompasses apartments, duplexes, townhouses and condo’s. With March 2010 showing the median sales price in the Las Vegas area of $130,000.00 or $91.00 per square foot now is the time to buy. Many buildings or units are priced under the median price per square foot. Growth in the multi-family units is expected to continue through 2013 as Las Vegas has no new projects slated for completion. Add in the fact over 16,000 apartments were converted to condo’s. Multi-family units have been shown to be a good investment in Las Vegas as there are more people to rent than buy. This will yield more rental for the investor. Many multi-family units choices are now available in and around Las Vegas both on and off the strip.

Multi-family units are available with two and three bedrooms per unit or whole buildings with 8 bedrooms to 134 units which can be leased, time shared or rented. Units are available with 750 square feet to a spacious 5,000 plus square feet.

Amenities included with some multi-family buildings are pools, parks, carports, patio’s/balconies and vaulted ceilings. Many are close to bus stops, highways, shopping, casino’s, and major hotels.

Many buildings are foreclosure sales while others offer owner financing. Financing through FHA is available as long as certain criteria is met. The owner must reside in one of the units as a primary residence. Private financing, if available, is an excellent option. Or low interest rate financing is available through a bank with at least twenty percent down.

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Short Sales in Las Vegas

Monday, March 29th, 2010

It wasn’t that long ago there wasn’t anything short about short sales. Today’s market is REO ( bank owned ) and short sale driven and thankfully, this process is getting faster and better with time. The short sale involves a bank agreeing to allow the home to be sold for less than the money owed. Short sales have always been around just not to the extent of today’s market. With more and more banks streamlining the process and the ability of seller’s to price homes aggressively, there are definately buys to be had with a short sale. Are short sales guaranteed to close? No. Are short sales fast and easy? It’s definately getting better and the percentage of homes closing is higher. Short sales might not be for the faint of heart that need a guarantee but if you’re willing to do your homework and make offers, you might end up with a very sweet deal on a house the seller probably paid hundreds of thousands more for, just a few years ago. Other than the lender approval, everything else including inspections, contingencies, etc. is treated like a standard sale and not avoiding short sales because of a few unknowns will certainly open up a large segment of the market to you. Many homeowners have come to the conclusion that the market is not going to go up as fast as their adjustable mortgage payment is, leaving them stuck in a house they owe more on and needing to move forward with their life. For some homeowners, selling their home in a short sale and being able to move forward can be the best alternative out there.

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Condos in Las Vegas, NV

Monday, December 21st, 2009

The condominium market in Las Vegas has experienced some of the same pressures that have been felt around the country. Yet, despite these different challenges a variety of condos in Las Vegas are attractively priced and can offer you that unique sense of glamour with style that can only be found in the desert playground. This means that there are a number of unique advantages to purchasing a condo in Las Vegas, however like all forms of real estate you would need to consider a number of different factors when looking at various condominiums throughout the city.

There are two main types of condos in Las Vegas these would include the conventional condo and the condo hotel. The conventional condo is when you are purchasing the condo and own the property out right. While the condo hotel is similar to a time share where there is one central owner who rental their condo out when they are not using it. In the case of a condo hotel the owner can rent the condo out by the night or they can rent out for stated lengths of time. Another important factor to remember is that the most condominiums throughout the city will sell for $250,000.00 to $350,000.00. This means that you can purchase the condo and hold it over the long term, which could help build your overall net worth.

Clearly there are several different factors that you want to keep in mind when look for condos in Las Vegas above are just a few of many. By understanding these factors will help you to become more acquainted as to how the overall real estate market in Las Vegas in organized.

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Multi-Family Units in Las Vegas, NV Could Mean Immediate Revenue

Friday, December 11th, 2009

Las Vegas, Nevada is a city with many beautiful features. Las Vegas is a hot spot for fun and adventure. Multi-family units in Las Vegas, NV are considered a great choice for investments. Advantages are: Most homes already have tenants. Income starts right away. It is possible to fill open units quickly. If the owners want to live in the building, they have the option. There is less likely to be a chance for foreclosure in secured units. Residents are looking for alternatives to purchasing their own home.

When choosing the best homes, check the neighborhood. Does it look presentable? Would you want to raise a family there? If both answers are “yes,” this may be a good location. Benefits outweigh the risks of purchasing multi-family units in Las Vegas, NV. Keeping unit counts at four or below keeps them in residential status. Some owners treat the purchase as an investment and live in another home. The profits cover the mortgage and take care of the owners comfort needs. When living in a multi-family unit, there is always a chance of being on call to residents.

Good maintenance resources can actually eliminate the stress. Many multi-family units in Las Vegas, NV owners do not mind if their tenants contact a designated maintenance company. This takes the worry off the owner. A reputable maintenance company will not take advantage. They will be able to assess over the phone and make a service call as needed. Service contracts can be taken out which have a set rate per visit. This way there is not the chance of being taken advantage of. Check out the multi-family units and enjoy potential independence.

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Market Recap

  • Avg. Sales Price: 145,000.00

  • Avg. Days on Market: 32

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