Las Vegas and Henderson Homes and Real Estate

Homebuyers are finding it increasingly difficult to purchase foreclosured properties in Las Vegas a recent article in the Wall Street Journal reports.

"Last summer you could make good margins," said Mr. Premsrirut. At so-called trustee sales of homes in foreclosure cases, he could win with bids at around 70% of the estimated market value. Now, he says, with more bidders, homes are likely to go for 85% to 90% of resale value. After accounting for real-estate commissions, repairs and other costs, that leaves little margin for error.  (Source Wall Street Journal)

This is no suprise to many local real estate agents who have been frustrated with helping clients to buy either a primary or investment home over the past year or more.  The lack of foreclosure inventory that has come to market, along with the surging number investors both nationally and internationally, has made Las Vegas a very difficult market to compete.

Many also wonder if the so called "shadow inventory" of foreclosures will ever materialize, considering that these properties should have already been brought to market given the current shortage. 

The relative short supply of foreclosures and bidding frenzy have created a very positive side effect for homebuyers in this market.  It is now perhaps a better deal to purchase aggressively priced non-foreclosure homes.  These properties in contract to the bank owned homes typically are kept in better shape and require less maintenance prior to move in.  Even if you get a foreclosed home for 10% below market value, most often that difference is swallowed up by the cost of cleaning and fixing the home from the abuse of departing tenants.

The key thing to remember when buying real estate today:  Foreclosures and Short-Sales Are Not the Best Deals in Las Vegas today!

Posted By:

Joseph Radosta
The Natale Team
Prudential Americana

www.noplacelikehome.las.mlxchange.com
Cell: 702.845.9862

Beautiful Henderson Home in Paradise Hills Neighborhood of Las Vegas.

Built in 2004, this home boasts over 3,600 square feet.  Every room needed in a new home, including:  Family Room, Dining Room, Breakfast, Room/Bar/Area, Living Room, and Laundry Room.  Also includes: Below Ground Pool, Attached Parking, 3 Space Garage, Gas Heating, Fireplace, Family Room Fireplace, Tile Floors, Stucco Exterior, Washing Machine, Vacuum System, Range/Stove/Oven, Dryer, Garbage Disposal, Dishwashe provided.

This lovely home is not a short-sale or foreclosure but is priced to sell!

Address: 410 PATTI ANN WOODS DR
City: HENDERSON
ZIP: 89002
County: CLARK
Beds: 4
Baths: 2-Full : 1-3Qtr : 1-Half
Sq.Ft.: 3698

Posted by:

Londa Faber
The Natale Team
Prudential Americana

www.londafaber.com
email:  londafaber@aol.com
phone:  702.335.7799

Hot Henderson Property Priced to Sell!

Address:  2174 McCartney Ct, Henderson NV
City:  Henderson
Zip:  89074
State:  Nevada

Prime location in Green Valley Ranch. This property is not an foreclosure or short sale, but is priced to sell! Beautiful 3 bedroom home in Green Valley. New carpet, tile flooring, tile counters, new paint, new fixtures. French doors open to backyard, low maintenance landscaping, located in a culdesac.

Type:  Single Family Home
Sq.Ft.:  1,282

Posted By:

Michelle Natale
The Natale Team
Prudential Americana

www.natalesellsvegas.com

New blood flows into developing the Las Vegas Strip.  Carl Icahn, the billionaire finacier who once bought and flipped the Stratosphere for a huge profit is investing in Las Vegas again.  He has purchased the assets at Fontainebleau for an unbelievably low $156.5 million, while the property is projected to have upwards of $2 billion dolllars into it.

The primary reason that this property was being offered for so low, was that some project Fountainebleau still needs another $1 billion or so to be completed.  This is the kind of capital that most banks won't finance in today's economy, but for a capital man like Carl Icahn, that sum is much more achievable through hard money lending.

Per Steve Monfort of Nasdaq.com:

"An investor seeking out some of the most depressed real estate in the nation would do well to turn to Las Vegas. According to Clear Capital, home prices in Las Vegas have dropped 63.7 percent since their peak. In 2009 - when many other large markets were beginning to show signs of life - property prices dropped 27.4 percent."

Source:

By Steve Monfort
Nasdaq.com

More from Nasdaq.com...

If you are interested in Las Vegas Strip real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Foreclosures and Short Sales are Not Necessarily the Best Deals in Las Vegas!

This beautiful modern home in southern Las Vegas is priced to sell at near $100 / sqft! 

Address: 6480 W OQUENDO RD
City: LAS VEGAS
ZIP: 89118
County: CLARK

Beds: 4
Baths: 4-Full, 1-Half
Sq.Ft.: 4,577
Lot Size: 1/2 acrs.

This home features a pool, tile roof, 3 car attached garage, central AC, Range / Stove / Oven, microwave, patios, laundry room with washing machine, and formal dining room.

The home was built in 2000, and is centrally located in Las Vegas to offer convenient access to The Strip, Summerlin, and Green Valley.

Deals like this won't last forever.

For more information about this and other Las Vegas, Summerlin, Green Valley, and Henderson real estate for sale, contact:

The Natale Team
Prudential Americana Group
871 Coronado Center Drive #100
Henderson, NV 89052
Office # (702)491-4937
Fax # (702)315-7866