FREE Down Payment!

Who doesn't want to purchase a home with no down payment?  Well it can happen here in Las Vegas. No it isn't a special program for revitalization areas or part of the city nobody wants to live in. 

This grant program will provide the home buyer with 4% of the purchase price to be used towards a down payment or closing costs.  This is a "rural" neighborhood grant, but many populated areas qualify including parts of Summerlin, Anthem, Inspirada, Mountains Edge, Silverado Ranch and Southern Highlands plus some older existing areas in Winchester. 

This program does not have income qualifications, anyone that qualifies for a VA or FHA mortgage can get this program if you are purchasing in the allowed zip code.  Yes, this is even good for brand new homes from the builder. So again, who doesn't want a free down payment? Contact Mike Kruse with VIP Realty Group for more information on your FREE Down Payment.

Buy or Sell Las Vegas Real Estate and Support A Great Cause

Here is a great opportunity to buy a new home or sell your existing home and support a great cause all at the same time.  Now through December 31, 2014 for every contract written and closed by February 13, 2015, I will donate $200 to Habitat for Humanity.  Habitat for Humanity is a national organization that helps hard working people with little income own a home.  In order to receive a home from Habitat for Humanity, the family must put in sweat equity into building the home along with other volunteers. 

I have a goal of donating $5,000.00 by February 13, 2015 and am excited to help such a great organization.  The money I donate will be to the local Las Vegas chapter of Habitat for Humanity so the money will stay local and help people within the Las Vegas community.  If you are looking to buy or sell Las Vegas real estate and support a great cause, start at my website www.lvhomesbymike.com.  Please share with your friends and family tthat also may be interested in buying or selling, I will not stop at $5,000 if there is still time left.

Las Vegas Real Estate Snap Shot

 

The Las Vegas real estate market continues to show a return to "normalcy".  What is "normalcy"  based on the current population, a normal market will have about 8,000 homes on the market at any given time which is roughly a 3-4 month supply.  Prices have stabilized and with the heat of the summer, modest price reductions are plentiful.  Here are just a few of the most recent numbers:

7,625 Single family homes available as of 6/30/14
1,359 Condos available as of 6/30/14
597 Townhouses available as of 6/30/14

14% of sales are Short Sales

Where are the best deals?  Depends on what is important to you.  In the Las Vegas valley, North Las Vegas will get you the best price per square foot and this even includes newer neighborhoods, north of Ann Road.  Henderson as a city remains the most expensive but the master planned community of Summerlin remains the highest priced neighborhood.  It is all in supply and demand.  Summerlin has the least amount of homes currently available and they are typically selling within 30 days on the market.  If you are willing to purchase an older home built prior to 1990, these homes are the best deals many times as there is a notion in Las Vegas if it wasn't built in the last 5 years, it is old.

What about brand new homes?  Home builders have been charging a premium which is left over from last years tough buyers market in resale.  The home builders were able to provide a home without having bidding wars as a result the builders too advantage of the situation and raised prices.  Most builders now are offering great incentives such as including upgrades, special financing and landscaping packages.  One builder is even negotiating on the base price on homes already built in certain communities.  If you want to wait for your new home to be built and get it exactly like you want, there are still great incentives too.

To search for your new home search here for all homes currently available in Las Vegas, Henderson and North Las Vegas.

Thinking of Selling?

As a homeowner, this is the question you always have to ask yourself.  Is now the time to sell?  There is always a reason to sell now and there are always reasons to wait.  This is a decision you need to make and nobody can make for you.  From a financial perspective, now is a great time to sell unless you purchased your home in 2006 or 2007.  Here in the Las Vegas valley, prices held steady in the last couple months of 2013 and January 2014 but that is all in the past.  February and march have seen modest increases in home prices and the local real estate market is in a bit of a frenzy.  Multiple offers on homes on the market less than a couple days is being seen.  Homes priced too high are sitting a longer but are still getting views and depending on the seller's motivation they will lower the price and sell quick or simply wait and see if the market catches up to their price.  Thinking of selling your home is your choice.  If you are thinking of selling and live in the Las Vegas valley, click the Thinking of selling link and I will provide you a Home Value Report at no cost.  Mike Kruse is a Realtor in the Las Vegas and Henderson, NV areas with over 10 years experience.

Las Vegas is Back and Booming!

It is no secret that new construction is back in full swing here in the Las Vegas area.  This past week the Linq project with the High Roller observation wheel opened.  New shopping areas are being completed.  The Summerlin mall that was frozen in early construction phase is now being completed and will open as "Downtown Summerlin" this fall with anchor stores Macy's, Dillard's and Nordstrom Rack. Another shopping center is going in just down the street at Hualapai and Sahara Ave.  Other commercial projects include SLS Resort at the site of the former Sahara Hotel and Wyndham Timeshare behind the Rio Hotel which was also stalled for many years.   With Wet & Wild opening last year and Cowabunga Bay water park opening in Henderson this year, it will be the first time that there are two operating water parks in the Las Vegas valley.  With all this new construction comes jobs which is what the are is in real need of.

The building is not limited to commercial.  New residential construction is sprouting up all over.  The largest project is Cadence a new master planned community in Henderson.  Summerlin continues to expand in the Mesa village off Hualapai and Russell Road and in the Northwest area Skye Canyon master planned community is expected to break ground later this year.

Multiple Offer are back in Las Vegas Real Estate

Multiple offers have made a return in Las Vegas real estate.  Over the past 3 weeks I have had 4 clients making offers on property and all four have experienced multiple offers.  While it seems to be limited to homes that are in exceptional condition, priced appropriately and homes in desirable locations.  In 3 of the 4 situations my clients did get their offer accepted however there were no concessions on the sellers behalf and my clients were willing to pay over list price in a couple of the situations. 

If you are thinking of selling, now is a great time.  With multiple offers happening, prices are sure to begin to rise again.  I can provide you the real value of your home at no cost to you.

Desert Shores on Neighborhoods to Watch List

It's not the crime protecting "Neighborhood Watch" list, it is better than that.  Each year the National Association of Realtors puts out a list of 10 neighborhoods in the United States that have potential to see large increases in home values due to market demand, new business coming in or redevelopment within the area.  For 2014 one neighborhood in Las Vegas made the list, Desert Shores.  Desert Shores was #5 on the list with a median home price of $179,525 in 2013, it is also the only community in Nevada that made the list.  I can assure you the median price on single family homes is significantly more but National Association of Realtors also accounts for condominiums which there are 2 complexes in Desert Shores. 


What makes Desert Shores so great?  The 3 lakes and the swim club of course.  The Desert Shores community sprouted up out of the desert floor in northwest Las Vegas in the early 1990's.  With the recession many of the homes, like all of Las Vegas, went into foreclosure.  With the homes in Desert Shores averaging just over 2,000 square feet, most of the homes in the community were purchased by people that actually wanted to live in the homes compared to Las Vegas as a whole where investors swarmed in.  While people picked up the Desert Shores homes at a reasonable price, they put additional money into upgrading the interiors with new floors, cabinets, countertops and a new coat of paint.  Many of the homes in Desert Shores appear new and upgraded giving a great appeal to buyers, especially with the landscaping that has matured over the past 20 years.  Desert Shores took shape before Summerlin but with the close proximity to all the shopping and dining options Summerlin features, it is a great location.


Desert Shores is a beautiful community to live and play in, you truly feel away from the desert when lined up along the shore near Regatta Drive.  But be careful, there are ducks and geese around too.


Click here to search homes in Desert Shores neighborhood.