View the listing of this Home in Las Vegas on 2112 Dolphin Beach North Las Vegas NV 89081.

Single story home home in gated community with 3 bedrooms, 2 baths and a den. Home has 1783 sq ft and is currently priced at 104,900.

The home features a very open living. The ceilings are 9 feet and have plenty of recessed lighting. The main living areas are all tile which makes clean up a snap and a great bonus if this is a rental. The kitchen features upgraded cabinets and granite counters. Nice warm colors will make move in very easy with nothing to do.

The masterbedroom is very spacious and has a great masterbath. The masterbath has duel sinks, a roman tub perfect for a relaxing getaway and a separate shower. The secondary bedrooms are both spacious and the separate den is perfect for the home office.

Please call Las Vegas Realtor Jeff Mix to view this home in Las Vegas located on 2112 Dolphin Beach North Las Vegas NV 89081.

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View the MLS listing for the property located at 5220 Evergreen Meadows Las Vegas NV.

Single story pool home in Las Vegas! 3 bedrooms and 2 fulls baths currently priced at 114,900. The home has a very open floor plan and cathedral ceilings. The kitchen has an island and over looks the family room.
The masterbedroom also has cathedral ceilings and a ceiling fan. There is a rear slider that leads to the backyard that’s perfect for late night swimming! The master bath has duel sinks, shower and a separate roman tub.

Well the best part of the home is the great backyard. The perfect getaway from the desert heat. Great landscaping, solar heated and cool decking. This home in Las Vegas also features a covered patio and is great place for entertaining.

View the MLS listing for the home in Las Vegas located at 5220 Evergreen Meadows Las Vegas NV.Please call Las Vegas Realtor Jeff Mix to view this home today at 702-510-9625.

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View the MLS Listing of this Home in Las Vegas on 1701 Mayan Ct Henderson NV 89014.

Super cute single story home in Green Valley with 2 bedrooms, den and 2 full baths. The property is priced to sell at 114,900.

This home feels very spacious with a very open floor plan.The high ceilings give the home home a much larger feel. The living room has a fireplace and opens to the kitchen. The kitchen has a small breakfast bar and is very clean. The eat in kitchen overlooks the backyard.

The masterbedroom is very nice in size and has sliders out to the backyard. High ceilings and plenty of closet space. The masterbath has duel sinks and large tub. The second bedroom is at the opposite side of the home and has great paint scheme.

We’ve saved the best for last! The backyard is awesome! This large culdesac is fully landscaped with no rear neighbors. Their rose bushes, kumquait tree, date palm, grass and flagstone.Mountain views and plenty of room to roam especially for Henderson!

View the MLS Listing of this Home in Las Vegas on 1701 Mayan Ct Henderson NV 89014.

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Well we are hitting the busy time of the year. Sales always spike in March. This means most buyers have started looking. If the first week of the month is any indication, it is going to be busy. We wrote offers for 7 different buyers and 12 different properties.

The investors are picking up multiple properties. Due to the high return a buyer can get on a property, it makes perfect sense. If you have the credit in place to purchase, a 20%+ return is waiting for you.

In addition to investor buyers, there are also the vacation home buyers. I received a call from a buyer in Washington looking for a golf front home in Henderson. Had a modest list of items. 300k, 2500 sq ft on the golf course. Not to much to ask for.

Will I started the search of active homes on the mls and much to my surprise and chagrin, 2 homes. Yes two. Uno Dos.

Das Ist. Zwei. So the buyer can pick a or b. I shot a screen shot of the search with the buyers criteria to show I am not making this stuff up! Watch the MLS search below and see for yourself.

If you are looking for a Home in Las Vegas, please give us a call and we will shoot for a larger selection for you. Our team also offers property managment and can give you a turn key solution if you are interested in picking up investment homes in Las Vegas. We also have a ROI Calculator on our side bar to quickly estimate your return on the investments.

The Fairness in Foreclosure Act has been proposed by Rep. Edolphus “Ed” Towns (NY-10). This bill is meant to limit the amount of time a bank can pursue a deficiency judgment and totally protect low income homeowners by prohibiting the bank from pursuing the deficiency at all.  

Mr. Towns states, “A deficiency judgment after foreclosure seems to be one of the greatest injustices that occur to homeowners after they have gone through the arduous foreclosure process.  Not only are they behind by thousands of dollars on their mortgage payments and facing public auction of their houses, the ordeal may continue indefinitely.”

A deficiency judgment after a foreclosure in Las Vegas is like throwing salt in the wound. If it’s not hard enough to lose your home, homeowners also need to be aware  that lenders can pursue them for a deficiency judgment after the fact. Know one wants to live with the uncertainity.

Click here to open the PDF of HR3566 Deficiency Bill. The 9 page proposal covers 2 different sections. It allows lenders just one year to pursue a deficiency or less if local laws allow. Nevada allows the lender on the first loan just 6 months to pursue a homeowner after foreclosure. The second part of the bill proposes that lenders can’t pursue low income families for the deficiency. Currently in Clark County a family of four making under 52,549 dollars annually is considered a low income household. With the high unemployment rates and the underemployed, this would be a large segment of our market.

If this bill in conjunction with the new AB284 here in Nevada, it could continue to make a mess of the current housing market recovery. The new AB284 is looking like it will drag the foreclosure process out 2 to 3 years. If a low income family has no worries with regards to a deficiency, it would make perfect sense to stay in the home for the next 3 years and not make a payment or have a worry of a deficiency judgment. The bright side to this scenerio is possibly the homeowner would have sometime to save up some money to have a solid future from this point on. The flipside, if the housing market isn’t recovered, there won’t be a lot of jobs available etc.

It is not that I want the bank to pursue struggling families, we just need the housing market to recover sooner than later. Just to be clear, I am no fan of the banks, especially when you hear the stories. VP’s bundling bad loans, selling them for a Billion dollars, then shorting the market on these pools of bad loans knowing it was bad debt and making 15 Billion after the loans fail.

Everyone has had a hand in the process. No one had a crystal ball, nor could the average person have ever imagined a home could drop in value by 60 or 70%. Homes have always been regarded as a solid investment historically for the most part. If you bought a home today it would be a solid investment. There were 4 years of overpriced sales and I think we need to unload these homes and move on. Let’s grab the bandaid and give it a quick rip! Let me know what your thoughts are.

View the MLS listing of this home in Las Vegas on 275 Calvino Las Vegas NV.

Move in ready home with 4 bedrooms and 2.5 baths. This home with more than 2000 sq ft is currently priced at 129900.

This home is occupied by the original owner and the pride of ownership shines through. The home has a formal living and dining room along with a spacious family room. The kitchen overlooks the eat in dining area and has plenty of cabinet space. All four bedrooms are located on the second floor. The master bedroom is very spacious and has a garden tub, dual sinks and duel closets.

The community offers very low association fees and is conveniently close to the freeway access and the new “M Casino”. The yearly taxes are currently 1443 per year and association fees are 15 per month.

View the MLS listing of this home in Las Vegas on 275 Calvino Las Vegas NV. Call Las Vegas Realtor Jeff Mix to view today at 702-510-9625.

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View the MLS listing of this home in Las Vegas on 1728 Summer Blush Las Vegas NV.

Great 2 story home with 1342 sq ft of living space and 3 bedrooms and 2.5 baths. The home is currently priced at 94,900.

This Silverado Ranch home is a cute layout with tile entry and large great room with 9ft ceilings. The kitchen is well layed out with granite countertops. The backyard has stamped concrete patio and is completely fenced.The upstairs has 3 beds, a masterbedroom with small balcony and upstairs laundry.

The property has a great location in Lamplight gGardens which is close to all of the shopping that eastern has to offer. The hoa fees are only 88 per month and there is a community pool and playground. The taxes are approximately 1433 per year.

View the MLS listing of this home in Las Vegas on 1728 Summer Blush Las Vegas NV. Contact Las Vegas Realtor Jeff Mix to view thios home today at 702.510.9625.

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I thought I’d write a blog post on lease options on Las Vegas Homes and why I feel they are a bad idea. In today’s economy there are buyers who want a home but for one reason or another can’t qualify for a property. This can be due to a recent short sale/foreclosure or just flat out bad credit.

The biggest issue with a lease option is an unrealistic seller. A typical seller who is looking to sell a home on their own is trying to save themselves money on paying a professional to sell their home. The reason in most cases is because they are so tight on their margins, they can’t afford to pay the commissions.

If a seller has some equity, the commission payed to an agent is not that much. One a 100,000 sale we are looking at 3,000. This fee covers handling the entire transaction. From listing the home, shooting pictures and video, marketing the property, showing the home, negotiating the contract, taking care of all the items required to close. Escrow, title, hoa resale docs, signing and working with the buyers agent every step of the way.

The biggest issue with a seller looking to do a lease option, they think their home in Las Vegas is worth more than any other property in Las Vegas. Let’s take an example to a recent scenario I just encountered.

A home was recently purchased in the last year at 107 per ft. The home is available to be as a lease option at 118 per ft. This doesn’t sound to unreasonable. The problem is, the home purchased at 107 per ft, was the most expensive home sold in a one mile radius in the last 6 months. The next two comparable sales were 81 per ft and 90 per ft. Now 118 per ft is nearly 25% higher than 90 per ft and 32% higher than the 81 per ft. The active homes with similar to this scenario are priced between 80 to 104 per ft.

As a buyer, why pay 20% more more for a home, for the instant gratification of moving in now. The other issue is you are limiting the available properties to yourself. If there are 50 homes available for sale, there may be 3 of them that will do a lease option. Wouldn’t you rather be able to choose a home out of a pool of 50 properties compared to a handful of choices. Wouldn’t you rather pay fair market value for a home than over pay for a property with an unrealistic seller?

This is why you need to have a Las Vegas Realtor protecting you’re best interest when purchasing a home. If you walk into a lease option without the knowledge of the true market value you could be making the wrong decision.

What if the market drops more in the coming 1 to 2 years, when you are ready to purchase. if you just put down 10,000 on a lease option, that money could be right out the window if the home does not appraise when it is time for you to exercise your option to buy.

Let’s do an example. Say you did a lease option on an overpriced property. Last year they offered it for sale at 130,000 because they paid 120,000. You put down 10,000 on the home. So the option purchase price is 120,000. If this price was too high to begin with, here is the problem. You paid 130,000, you put down 10,000 in a year ‘s time the home values drop just 3% the home has lost 3600 in value and is now worth 116,400.

Now you have paid 130,000 for a home that is worth 116,400. That is not so bad to stomach but if you are getting a loan, you have to get it appraised. If the appraisal comes in at 115,000 here is the issue. If the seller bought the property with an FHA loan for 120,000, their balance is still going to be close 116,000. At the time when you close they owe their lender 116,000 but you appraisal is 115,000. The seller’s closing costs will be about 1,500. As the buyer, you typically have close to 3% in closing costs.

On most deals traditional deals in this price range, we get the seller to pay your closing costs. These will be about 4500. Since the seller is so tight on their margins, they can’t afford to pay your closing costs. You will need to pay your own closing costs to close on the property.

Let’s breakdown the real money out of pocket that you just put into the lease option home:

10,000 Lease option down payment

4,500 in your closing costs

1,000 to cover the amount to seller and the appraisal

4,025 for an fha 3.5% downpayment

19,525 Total cash for the property

Now if you would wait a just a year to purchase with a traditional FHA loan the same valued house at 115,000. Just the fact alone that you are free to chose from all homes on the market is the first plus!

Now the home you are buying is 115,000 and that is the true current market value. You will need your 3.5% down payment, but this time we get your closing costs paid for by the seller. Now let’s compare

4,025 for your downpayment.

That’s all the cash you need out of pocket! So what is better, a home that you put 19,525 real cash into or wait a year and put 4,025 into the same valued property. That is saving you from overspending 15,500 in real cash money.

As a buyer, you need to know what the true market value of the home is before you ever enter into a lease option. This isn’t the year 2004 where the market is growing each year so need to worry. We are in a different market than ever before, so beware! I understand that waiting a year or so to get your credit back in line is tough, but are you willing to spend an extra 16,000 to do it?

Call and talk with a Las Vegas Realtor before getting involved on a lease option for a free CMA of the property. Please call Jeff Mix at 702-510-9625.

View the mls listing of this home in Las Vegas located on 6054 Sierra Medina Las Vegas NV.

This 1903 square feet single story home was built in 2008 in the planned community of Cactus Hill Manor. This one story has 3 bedrooms and 2 full baths plus a casita on a 5117’ lot size.  Each bedroom includes prewired for ceiling fans.

Kitchen has pantry and tile throughout high traffic areas. This home features an open floor plan, with media niche, raised panel doors, cathedral ceilings, maple finished cabinets, surround sound and window blinds throughout the home.  A must see as house will sell fast. 

Please call Las Vegas Realtor Jeff Mix to view this HUD home in Las Vegas. Our blog also has additional video tours of HUD homes in Las Vegas. View the mls listing of this home in Las Vegas located on 6054 Sierra Medina Las Vegas NV.

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View the mls listing of this home in Las Vegas located at 10380 Borah Park Las Vegas NV.

This gated 2118 square feet single story home was built in 2008 in the planned community of Mountains Edge. This one story has 3 bedrooms and 2 full baths and 1 bath with stand shower on a 5663’ lot size.  Each LARGE bedroom includes ceiling fans and mirrored closets. Kitchen has granite countertops, which include a breakfast bar, walk-in pantry and tile throughout.

This home features an open floor plan with den, living room, with a gas fireplace, media niche and crown molding in the living room and bedroom.  Some amenities are that home is in single story neighborhood, home has large baseboards and garage has racks installed. A must see as house will sell fast.

View the mls listing of this home in Las Vegas located at 10380 Borah Park Las Vegas NV.

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