Las Vegas Real Estate Blog

Back in May I wrote about short sales and if they were even worth looking at. 

Take a look here: http://activerain.com/blogsview/524066/Should-Buyers-Look-at

Well, I continue to show them and write offers on them, because it's important to me to do everything I can do to get the best house at the best price for my clients even if it is a "long shot".  (By long shot, I'm referring to getting the bank to approve the short sale.  I usually do not advocate "low-balling", but I'll save that for another post.)  

So, what's been going on since the last stats I ran on 5/25/08? 

Here's a review of Southwest Las Vegas Area priced under $300k 1/1/08 - 5/25/08

1031 Total Closings 

• 430 Bank owned property sales (42%)
• Median sale price per square foot $119.86
• Average sale price per square foot $120.84
• Median list price to sale price = 100%

• 89 Short Sales (9%)
• Median sale price per square foot $129.70
• Average sale price per square foot $128.64
• Median list price to sale price = 99%

• 512 NON short sale or foreclosure sales (49%)
• Median sale price per square foot $131.55
• Average sale price per square foot $135.19
• Median list price to sale price = 98%

 And here's the results for Southwest Las Vegas Area priced under $300k 5/25/08 - 7/29/08

 824 Total Closings 

• 592 Bank owned property sales (72%)
• Median sale price per square foot $116.07
• Average sale price per square foot $116.97
• Median list price to sale price = 101%

• 70 Short Sales (8%)
• Median sale price per square foot $121.02
• Average sale price per square foot $122.99
• Median list price to sale price = 100%

• 162 NON short sale or foreclosure sales (20%)
• Median sale price per square foot $136.64
• Average sale price per square foot $136.74
• Median list price to sale price = 98%

 btw:  today (7/29/08) in the southwest area there are 3009 homes on the market or in contract

• 1161 bank owned homes on the market or in contract (39%)
• 1324 short sale homes on the market or in contract (44%)
• 524 non foreclosure/non short sale on the market or in contract (17%)

 Well are they a good deal...if they close?  Maybe. 

Or they could just not be up to the same standards as the homes with equity, but not quite as destroyed as some of the bank owned homes.  That alone might explain the difference in price per square foot.

But look at the percentage of short sales currently on the market and in contract (44%) compared to the percentage of short sale closings (8%)!  The odds of getting a great deal on a short sale are not looking that good...and the payoff doesn't look that terrific either.  But of course, I continue to leave that decision to the client.

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Portrait Studio

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Portrait sessions are available in our beautiful studio, outside in our studio garden, or on location, such as the beach or at your home. We schedule only one portrait session per day to allow time for the pre-planned set up and approximately three hours of photography. Your session can include any combination of individuals photographed separately and/or in various groupings. Louise takes many images and carefully edits them to show you the best poses and styles.

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The slideshow of images is ready for you to view 2 to 3 weeks after the date of your portrait session. During this appointment, we will finalize your portrait order. Images are available from desk size up to a 40x50 wall portrait. Wall portraits can either be finished in oil style on canvas or watercolor style on watercolor paper.

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The slideshow of images is ready for you to view 1 week after the date of your portrait session. During this appointment, we finalize your portrait order. Images are available from wallet size up to a 20x30 print. We offer portraits on traditional photo paper, watercolor paper or linen.

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Attention owners selling privately:

This post is a free service courtesy of Damon Botticelli and available to owners selling privately (FSBO) in the Las Vegas, N. Las Vegas and Henderson areas.  If you would like to take advantage of this free advertising, visit www.Nevada-ByOwner.com and begin by creating your ad. 

249 Water Bridge Court Henderson, NV 89012 GREEN VALLEY RANCH - CUL-DE-SAC - POOL GREEN VALLEY RANCH FSBO FOR SALE! Nestled in the heart of beautiful GREEN VALLEY RANCH (Henderson, Nevada), this exquisite family home offers the best of both worlds! Ideally located on a quiet CUL-DE-SAC with tons of privacy, it is also conveniently located just a few blocks from the popular The District at Green Valley Ranch and Resort, only 15 minutes to the Airport and the Las Vegas Strip, and immediate access to the I-215 Beltway/Freeway. Enjoy a leisurely stroll or bike ride to several family parks, a recreational center, an outdoor concert arena, and neighborhood shopping centers and grocery store. For SPACIOUS INTERIOR LIVING, this fabulous two-story 2,895 sq. ft. home features 4 large bedrooms (4th bedroom with a suite), 3 baths, formal living/dining room, kitchen with casual dining area, and a super family room. Enjoy a fun filled day outdoors barbecuing and splashing around in the in-ground, SOLAR HEATED POOL. If you and your family are looking for that small town atmosphere in a big city, then you just found your new ¿dream home¿! Check our our HOME WEBSITE for more photos, information and contact #'s: http://www.lvhomeforsale.org This Property Is For Sale 'Privately' By The Property Owner. It's NOT Listed With The Real Estate Professional Or Company That Provided This Web Site. There Are No Guarantees As To The Accuracy Of The Information On This Web Site. To verify any details please contact the property owner. Neighborhood: CLEARWATER CANYON Lot Size: .15 Type: Single Family Residential for Sale Floors: Two or More Stories Parking/Garage: 3 Bedrooms: 4 Baths: 3 Square Feet: 2895 Year Built: 1996   Price: $469,000 Type: Single Family Residential for Sale Floors: Multiple Parking/Garage: 3 Bedrooms: 4 Baths:3 Square Feet: 2895 Year Built: 1996 MLS #: 261806 www.VegasProperty4u.com For more information contact: Damon Botticelli, Realtor 10750 W. Charleston Blvd, Suite 180 Las Vegas, NV 89135 Direct: (702) 523-7713 www.RealtyOneLV.info Copyright © 2008 Damon Botticelli. All rights reserved.

Now that investors are back in the market buying homes to hold and rent, I've been getting quite a few questions about the current state of our rental market here in Las Vegas, North Las Vegas, and Henderson.

The goal of many of the investors are to get the best possible cap rate now, while acquiring the most promising properties for future gains, through long term appreciation.  Therefore, I will do everything I can to provide the information and the tools for those clients to make their own educated decisions and predictions.   

The following rental statistics are all median values on single family detached homes and patio homes leased within the last 12 months.  They are between 1400 to 2800 square feet, built after 1996, without pools and without furniture.  Age restricted communities have not been included in these stats.

** GLVAR Deems Information Reliable, But Not Guaranteed **

Recently, I started an online family tree on a site called Genoom  I'm really enjoying the experience and I wanted to share the site's capabilities with others.

It's a great way to share photos, videos, stories, recipes etc.. with the entire family.  And it's amazing to see just how many people we're related to.  What I really like about the site is the ability to invite other family members who can also contribute and build on the tree.  Everybody in the family can get involved.  You can also have it to send you birthday reminders...very useful! 

You can view an overview here: http://www.genoom.com/flash/en/whatisgenoom.html

or just get started at http://www.genoom.com

One tip for US users: Because it's based in Spain the dates are displayed dd/mm/year by default.  You can change the date display in the user settings.

Welcome to LasVegasNeighborhoodNews.com

Take a look at what Realty One Group has to offer and call or email me for more information.

btw: refer 3 agents to Realty One and the $100/mo is waived for life!

Q: Why is Realty ONE Group, Inc. #1 in Nevada and the #1 fastest growing real estate brokerage in Arizona with over 1,700 Associates?
A: Support. Service. Professionalism. Realty ONE Group strives to establish long-term, high-quality relationships with real estate associates and clients alike.
Realty ONE Group welcomes real estate professionals who meet the following criteria:
	Drawn to real estate with a drive to succeed
	Knowledge of the real estate industry
	Interested in a career vs. a job
	Focused on client service
	Desire to learn and grow

Associate yourself with excellence... Realty ONE Group attracts and retains the finest real estate agents in the industry and is continuously searching for goal driven entrepreneurs who are committed to the very highest level of professionalism.
Succeed... Realty ONE Group provides state-of-the-art technology, an abundant amount of tools and resources, marketing programs, and an extra supportive environment by qualified and knowledgeable Broker/Managers, available for all associates - at any location, at any time!	myROG.com A complete Back-Office solution for our Agents!
Training... ONE on ONE training is available for new and experienced agents who desire to enhance their knowledge of the real estate business and/or to expand their area of expertise. Continuing Education andSpecialized Classes are offered to keep our associates up-to-date with industry standards and guidelines.	Online Calendar  Continuing Ed  Specialty Courses

I should also mention Realty One does offer a 70/30 split plan for agents who want one on one mentoring ---- great for new agents!  This is a terrific company for experienced agents and brand new agents too.