http://www.trulia.com/voices/profile/Real_Estate_Pro-Las_Vegas_NV-220828/The latest answers submitted by Mark Karten to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Foreclosure/how_can_i_find_out_when_the_house_im_renting_is_go-85625Answer by Mark Karten: Hi Brianne, It's very stressful to be uncertain about the home that you're living in. I think the following link is the easiest way to check if the home you rent is in default (no matter what state you live in): http://www.rentalforeclosure.com/ I wish you the best of luck and hope your home is not on the list. Sincerely, Mark Karten Realty Executives of Nevada The Karten Group 702-301-4878Tue, 3 Feb 2009 19:34:06 PSThttp://www.trulia.com/voices/Property_QandA/Why_is_the_price_so_low_for_such_a_large_home_-84582Answer by Mark Karten: Hi RZ, Actually, when you click on the link you'll see there is no street number, just a street name. This is not actually listed for sale as a foreclosure yet. Sometimes Trulia picks up public records and what you're seeing is the amount owed on the property versus what the selling price is. On this street, there are no homes of this size for sale currently. I know that's frustrating, but if you're looking for current information that's reliable for homes in Las Vegas, I suggest visiting my website where you can see the foreclosures with one click of your mouse. I wish you the best of luck with your search and if you're not already working with a Realtor, we would love the opportunity to help you. Sincerely, Mark Karten Realty Executives of Nevada The Karten Group 800-756-4640Thu, 29 Jan 2009 22:14:04 PSThttp://www.trulia.com/voices/Property_QandA/Is_this_house_still_on_the_market_-83739Answer by Mark Karten: Hi Brent, Yes, this home is still available for sale as of this morning. I don't know if you're looking to buy a home here for cash or you're obtaining a mortgage, but I do have a lender that is still giving loans in the US to Canadian residents. If you're not already working with a Realtor, I'd be happy to help you. I wish you the best of luck in your home search. Sincerely, Mark Karten Realty Executives of Nevada The Karten Group 702-301-4878Tue, 27 Jan 2009 09:05:37 PSThttp://www.trulia.com/voices/Property_QandA/removed-83186Answer by Mark Karten: Hi Bruce, The HOA in Peccole Ranch is $74/month. The annual taxes on this home are $2,186. If you're not already working with a Realtor, feel free to visit my website below and we can help you pinpoint exactly what you're looking for. Best of luck, Mark Karten Realty Executives of Nevada The Karten Group 800-756-4640Sun, 25 Jan 2009 12:34:55 PSThttp://www.trulia.com/voices/Property_QandA/what_is_the_parcel_number_for_this_property_-83068Answer by Mark Karten: Hi Lisa, The easy way to find the parcel number for any property is to use the following link: http://www.accessclarkcounty.com/depts/assessor/pages/Disclaim.aspx You'll have the option to search by parcel number, owner name or address. So the answer is: 176-20-411-006 Sincerely, Mark Karten Realty Executives of Nevada The Karten Group 702-301-4878Sat, 24 Jan 2009 22:49:37 PSThttp://www.trulia.com/voices/Property_QandA/Is_too_early_to_start_the_buying_process_What_s_-82379Answer by Mark Karten: Hi Adrienne, Congratulations on your upcoming move to Las Vegas. I don't think you could have picked a better time to come here. To answer your question impartially, you should choose a Realtor now who is web-savvy and can provide you with all the information you need, be your eyes for you before you get here, create virtual tours and property overviews of any property you're interested in, so you can make the best decision before submitting an offer. Once you have an accepted offer, that's when you'll want to come out to see the home in person, to see if you want to move forward with that home. Yet, that's just the home. You also want to consider your areas, too. What's important to you and your family, what do you want to be close to? How do the HOA fees and taxes affect your monthly payment will also determine where you want to live. I encourage you to speak with a few Realtors by phone to get an idea of their experience with relocation buyers and what their existing clients have to say about them as well. I wish you the best of luck and hope to meet you once you arrive in Las Vegas! Sincerely, Mark Karten The Karten Group Realty Executives of Nevada 702-301-4878 800-756-4640Thu, 22 Jan 2009 09:14:25 PSThttp://www.trulia.com/voices/Home_Buying/Question_from_an_out_of_town_RE_investor-82256Answer by Mark Karten: Hi Jim, Here's the easy checklist that I use with my investors. 1 - Determine if you're paying cash or getting a mortgage 2 - If cash, you can buy a condo or house. If mortgage, stick to a single family home (I can explain in detail offline.) 3 - Determine your criteria (positive cash flow, area, rentability, etc.) and send you appropriate listings. 4 - Submit offers until one is accepted. 5 - Once you have an accepted offer, now you make the trip up and see the property first hand (choose an agent who will be your "eyes" for you.) I do a virtual tour for any property my investors want beforehand, so they know what they're getting, and a full overview of the probable expenses (repairs,etc.) 6 - For closing, you can sign all documents from home with a mobile notary. If you're paying cash, it can be done via email and overnight mail. I hope that's helpful and I wish you the best of luck - now is the PERFECT time to purchase in Las Vegas. Sincerely, Mark Karten The Karten Group Realty Executives of Nevada 702-301-4878Wed, 21 Jan 2009 20:22:40 PSThttp://www.trulia.com/voices/General_Area/Rhodes_Ranch_Las_Vegas_NV_a_few_misc_neighbor-82182Answer by Mark Karten: Hi Chasman, Good questions and I've got some good answers. I have the benefit of being a resident of Rhodes Ranch Golf Club for the last 9 years, and a Realtor, too. 1. If you click the link below, you'll see where the borders are for Rhodes Ranch Golf Club: http://homes.point2.com/Neighborhood/US/Nevada/Clark-County/Las-Vegas/Rhodes-Ranch-Real-Estate-Agent.aspx That's living IN Rhodes Ranch. When you get off the 215 at Durango (in the Southwest) and go south, you are now AT Rhodes Ranch. The Rhodes Ranch master plan consists of condominiums, apartments and single family homes. Only Rhodes Ranch Golf Club is in a 24 hour guard gated community and only those residents have access to the R Club (the 35,000 sq. ft. Fitness Center, Water Park, etc.). The 24 hour guard gate is at Durango and Robindale (just south of Warm Springs). We have a back gate, too, which is 24 hours and you can access that from Fort Apache. 2. The website for the HOA is: www.rhodesranchhoa.net The HOA fees have never increased from $100, until this year. They are now $120/month and if you live in one of the gated communities (The Collection or The Links and the Lakes) you'll pay an additional $10/month. 3. The homes on Dog Leg and that area are all in Travina and were built in 2004, which was the beginning of the real estate boom here. They originally sold in the $450-$475,000 price range, depending on size, amenities, etc. 4. Cons about Rhodes Ranch? Personally, I don't think so. I know the whole valley pretty well and I still wouldn't choose anywhere else to live. If you're not working with a Realtor, give me a call or email me through my website below and I'll be happy to give you a tour of Rhodes, answer all your questions and help you find the home of your dreams. Best of luck, Mark Karten The Karten Group Realty Executives 702-301-4878Wed, 21 Jan 2009 18:36:52 PSThttp://www.trulia.com/voices/Home_Buying/removed-80356Answer by Mark Karten: Hi Cindi, Setting up a specific property search can be frustrating and confusing. The search on my website can be set up to your specifications easily. My web address is below. Click on "Search all homes" or "MLS Search" to begin. Then in the search box, there's a prompt for "Show advanced search criteria." You will see you can put in your .50 acres as a minimum plus any other criteria you desire. I hope that's helpful. I am also happy to create a specific search for you with all the criteria you desire (there are currently 24 homes that meet your criteria stated above). Feel free to contact me anytime. Sincerely, Mark Karten The Karten Group Realty Executives of Nevada 702-301-4878Thu, 15 Jan 2009 06:26:02 PSThttp://www.trulia.com/voices/Home_Buying/Details_and_photos_requested_-80317Answer by Mark Karten: Hi Barb, Unfortunately, the link doesn't give the specific address, but I can tell you about the floorplan and the community this home is located in. The homes are $1,000,000 plus homes located in the Red Rock Country Club, which is located in Summerlin. The information you were reading was a "Notice of Default" which means the homeowner is at least 45 days behind on that particular mortgage ($81,000), it's not the price of the house. If you'd like to get an idea of this home, click below for a home on the same street with the same floor plan. http://las.mlxchange.com/Pub/EmailView.asp?r=187264732&s=LAS&t=LAS Please note the above home is not the troubled home you requested info about. Once you click on the link, double click on the picture to open a photo gallery or click the virtual tour link to see the house. If you'd like to set up a search with the criteria you're looking for, please feel free to visit my website, listed below, and I'd be happy to help you. Best of luck, Mark Karten The Karten Group Realty Executives of Nevada 702-301-4878Wed, 14 Jan 2009 20:31:58 PSThttp://www.trulia.com/voices/Property_QandA/What_builder_bulit_this_house_-79660Answer by Mark Karten: Hi Lisa, Sorry that the first answer was inappropriate. You are correct, it is an American West home. I hope that's helpful. Sincerely, Mark KartenMon, 12 Jan 2009 18:50:58 PSThttp://www.trulia.com/voices/Home_Buying/Is_it_okay_to_sign_a_WAIVER_of_NRS_Chapter_Rights-77098Answer by Mark Karten: Hi Soc, You ask a very good question, and I'm sorry your real estate agent didn't explain the purpose of the waiver. When you buy a house as a fair market sale (rather than a bank foreclosure), the seller must fill out an SRPD (Seller's Real Property Disclosure) form. This is a 4 page form with two pages of questions that the seller answers, which details the condition of different elements in the home (A/C, appliances, water heater, pool, etc.) If there was a problem with anything while they owned the home, it must be disclosed by law. The seller must also tell whether they have ever lived in the home. If they never lived in the home and only had tenants there, they might not have had as much knowledge as living there. In a foreclosure, since the bank has never lived in the home, they can't disclose what's happened in the home. Under Nevada law, your right to receive an SRPD is in NRS (Nevada Revised Statutes) Chapter 113. If the seller can't/isn't going to provide an SRPD, you must sign the waiver agreeing to purchase "AS IS" and you have no further recourse with the seller regarding unidentified defects. The answer to your question is, if you want to purchase a foreclosure, you will have to sign this form (in front of a notary public.) To give you peace of mind, you MUST have your potential new home inspected by a professional. Depending on the size of the home, the average inspection runs around $300 and it will be the best money you'll spend during your due diligence period. I have heard home buyers being told there's no reason to have an inspection done because it's as-is, or the previous buyers had an inspection done and the house is okay. I repeat, you MUST have a home inspection done, no matter what anyone tells you. The inspection report is your opportunity to say, "This home's not for me," or "I can take care of this list of items." And there's always a list of items, no matter how new, how well kept - a good inspection will always disclose items that need attention - even if they're just wear and tear, normal maintenance. As far as asking the seller/bank to do repairs based on your inspection report, it doesn't hurt to ask. I've had banks reduce the contract price because of mold, broken A/C and numerous other issues. It's not a dollar for dollar reduction, but it was certainly worth the time to ask. If they're minor or cosmetic issues, the seller will not make the repairs. If you're applying for an FHA loan, the home must meet certain criteria for habitability. If the appraiser doesn't approve the home, the reasons why (the repair list) would be up to the seller to fix, so the loan can get approved. Your Realtor should know the FHA criteria so that when you look at potential homes, you'll know which don't qualify and can cross those off your list. I wish you the best of luck in your new home purchase! Sincerely, Mark Karten The Karten Group at Realty Executives 702-301-4878Sun, 4 Jan 2009 07:14:41 PSThttp://www.trulia.com/voices/Property_QandA/hi_i_just_want_to_know_if_the_property_is_alread-77062Answer by Mark Karten: Hi Sean, No, your property has not received a notice of default (NOD) yet. You will actually receive a letter from the bank telling you when it is. From the date on the NOD, you'll have 4 months and 20 days minimum to either pay the past due amount or sell the home. The agent who has your house listed should also be able to give you this information. Best of luck with your short sale. Hopefully you've been getting a lot of interest based on the advertising and marketing of your home. Sincerely, Mark Karten The Karten Group 702-301-4878Sat, 3 Jan 2009 22:26:24 PSThttp://www.trulia.com/voices/Property_QandA/I_am_a_UK_resident_looking_to_buy_a_foreclousure_p-76324Answer by Mark Karten: Hi Sandra, Great question. The answer is a little more complicated than just area. I suggest that you focus on single-family homes and if you're looking to purchase this for a rental, then I suggest the following criteria for all my investors: Minimum 3 bedrooms, 2 baths, preferably 2 car garage, although 1 is acceptable. Focus on areas that have reasonable commute times to the Strip, are close to shopping and schools and most importantly, were built in the last three years. Once you determine your price point, I would then focus on taxes, HOA dues and any SID/LIDs, which all eat away at your profitability. Although it sounds like a lot, once you incorporate all the above, the available homes will be in more desireable areas and help you achieve your goal. Another suggestion, cash is king, so if you're looking to finance, expect it to be more difficult to get the winning offer on a home. You'll also want to choose a Realtor who is willing to be your eyes for you, especially if you'll be doing the entire transaction from the UK. I create virtual tours for all my out of state/country buyers, so that they can see exactly what they're thinking of buying, along with the data necessary to make an educated decision. My website is below or you can call me at 702-301-4878. I wish you the best of luck in your future real estate endeavors. Sincerely, Mark Karten The Karten Group Realty Executives of NevadaWed, 31 Dec 2008 10:10:22 PSThttp://www.trulia.com/voices/Property_QandA/I_want_to_buy_and_close_on_this_property_within_w-74984Answer by Mark Karten: I appreciate your eagerness to purchase this property immediately. Unfortunately, the house has just received its notice of default (NOD). If the owners do not get their payments within 4 months and 20 days from the NOD, then the property will be sold at a Trustee's sale (on the courthouse steps.) If no one purchases it that day, it will then be bought back by the bank, and it will become a listing as a foreclosure. The $64,000 balance you're seeing is most likely a 2nd mortgage and not the first. The house, which is located in Rhodes Ranch, will most likely sell in the $300,000+ range. If you're not currently working with a Realtor, we can help you locate the type of home you're seeking to purchase. Please visit our website or you can email or call me at your convenience. I wish you the best of luck in your search, it's a great time to buy now. Sincerely, Mark Karten The Karten Group Realty Executives 702-301-4878Wed, 24 Dec 2008 23:05:38 PSThttp://www.trulia.com/voices/Home_Selling/Anyone_know_a_good_do_it_all_general_handyman_-58364Answer by Mark Karten: I highly recommend Las Vegas Handyman, and suggest you request Terence Calvin. He is terrific and I use him on all my client's homes. Their prices are very reasonable and they're licensed, bonded and insured. Give them a call at 702-248-0550. Good luck, Mark Karten Realty Executives of Nevada 800-756-4640Sun, 21 Sep 2008 21:36:38 PDThttp://www.trulia.com/voices/Foreclosure/Can_you_tell_if_a_Las_Vegas_rental_is_forclosed_-57601Answer by Mark Karten: Hi Michael, KVBC.com did a great segment on this and here's the procedure: 1. Get the address of the rental property. If it's not in the rental ad, call and get it. Or better yet, set up an appointment to look at the house. That way you'll be sure the address you're given is accurate. 2. Go to the Clark County Assessor website below: http://www.co.clark.nv.us/ASSESSOR/Disclaim.htm 3. In the top left corner, click on address search and then enter the address. Keep in mind you enter the house number, the street name, the type of street (court, circle, road, etc) on separate lines. If you don't know what city or town the rental is in.. just leave that unspecified. Even though the rental home is in Las Vegas, it could show up under another town, such as Spring Valley, etc. Anyway, enter the address information and hit submit.. 4. You should see a listing with the exact address. It's probably the first one on the list. Click on the parcel number. 5. Under general information you should see the homeowner's name and address, and also the parcel number again. Write that parcel number down .. you'll need it. 6. Go to the the Clark County Recorder website: http://www.co.clark.nv.us/recorder/recindex.htm 7. The second listing on the upper far left side of the site is "search records" .. click on that. 8. In the middle of the page you'll see several options to search on. Simple, Advanced, Instrument ID and Marriage. 9. Click on "Advanced Search". 10. The only thing you want to concern yourself with on this page is "legal descriptions". There are four lines under legal descriptions .. you want to use the first line which shows parcel number. In the blank space NEXT to parcel number, you want to enter the parcel number you wrote down. Do not enter the dashes between the number .. just the numbers. Then click on the button below that says "Detail Data". This should take you to the "Web Services Detailed Data Results." You'll notice each entry has an instrument number and a document type. If default paperwork has been filed with the recorder's office, it should be listed here. The most recent actions are listed first. If it's not listed now .. you may want to check back on a weekly or monthly basis. If you see something that might be a default, or you want more information, write down the instrument number and take it with you to the county recorder's office. They are there to help you and that instrument number will prevent you from going through all these steps again. Some detailed documents are ONLY available at the county recorder's office. Employees there will help you find what you're looking for. Where is the County Recorder's office? It's inside the big stone-looking building at 500 S Grand Central Parkway known as the Clark County Government Center. It's across from the Premium Outlet Mall and near the World Market Center. The recorder's office is on the second floor. The phone number is 455-4336. Good luck! Sincerely, Mark Karten Realty Executives of Nevada 1-800-756-4640Tue, 16 Sep 2008 13:53:12 PDThttp://www.trulia.com/voices/Home_Selling/Can_anyone_please_recommend_a_good_residential_Rea-57436Answer by Mark Karten: I suggest: Aileen Schlissel with the Law Offices of George D. Greenberg 702-796-5221 Please tell her I recommended you. Sincerely, Mark Karten Realty Executives of Nevada 800-756-4640 Mark@YouCanAffordVegas.comMon, 15 Sep 2008 10:33:30 PDThttp://www.trulia.com/voices/Home_Buying/removed-53168Answer by Mark Karten: I can imagine how frustrated you are. There's no reason to use an agent that doesn't listen to you. You're doing the right thing by continuing your search. In a few minutes, you'll be inundated with answers from Realtors willing to help. I'd like to offer my services as well. Please feel free to call me at 800-756-4640 or visit my website at YouCanAffordVegas.com and read the testimonials I've received. My clients speak better about my service than I ever could. Best of luck to you, Mark Karten The Karten Group @ Realty Executives 800-756-4640Sun, 17 Aug 2008 10:34:18 PDThttp://www.trulia.com/voices/Home_Buying/How_long_should_we_have_to_wait_for_a_response_to_-50162Answer by Mark Karten: JC, I can understand your frustration. It all depends on the seller. I've been in this position many times with my buyers, and ultimately the listing agent will change the MLS status before contacting any agents (other than the accepted offerer.) Take this as a sign of how the seller will be performing throughout the transaction. A little war story - I have one offer that was submitted on January 29th, accepted on February 12th and as I write this today, August 1st, we are still waiting to close. We are at the seller's mercy. The best advice is to keep looking for another home, so that you don't miss another opportunity. I wish you the best of luck and a response in the very near future. Sincerely, Mark Karten REALTOR, ABR, e-PRO, SRS, SRES Realty Executives of NevadaFri, 1 Aug 2008 10:54:02 PDThttp://www.trulia.com/voices/Home_Selling/Our_home_is_for_sale_and_getting_no_attention_Wha-50064Answer by Mark Karten: Hi, Sorry to hear that your home is still unsold. The generic answer for a home being unsold is it's priced too high. I took the liberty of looking at your listing, and I believe the specific response is that your home is very overpriced. Since your home is built in 1975 and does not look to have been updated, this will narrow your potential buyers. The other challenge is your location. Although youv'e got a horse property and a huge lot, your home really needs a bigger price cut and some tremendous marketing to attract buyers for its unique value. You need to consider your competition to be priced accurately. Homes in your area don't sell quickly, but the last home that sold went for $144 sq. ft. The home is in your neighborhood, is larger than yours, with a pool and spa and built in 2003. Copy and paste this link to see the home's listing: http://las.mlxchange.com/Pub/EmailView.asp?r=1809272049&s=LAS&t=LAS That home sold in September, 2007 and was only on the market for 40 days. As you know, prices have dropped tremendously since that time. Using the same $144 sq. ft., your home should be priced at $425,088 at the most - and it will sell. I know that's not good news for you, but depending on your situation and whether you're intending to update your home to justify the $699k price, my suggestion is another drastic price reduction. Sorry to be the bearer of bad news, but this is the exact information your agent should be giving you as well. In addition, a big marketing campaign to get the word out will increase traffic and get your home sold, so you can move on. I wish you the best of luck with whatever decision you make. Sincerely, Mark Karten Realtor, ABR, e-PRO, SRS, SRES 800-756-4640 Realty Executives of NevadaThu, 31 Jul 2008 19:00:12 PDThttp://www.trulia.com/voices/Home_Buying/Want_to_buy_a_starter_home_bedrooms_and_baths_-49682Answer by Mark Karten: Hi Jim, Good questions. As of this morning, you can get a 3/2 in Summerlin (bank-owned) for about $185,000 and higher. Rents vary, but figure between $1,200 and $1,500/month depending upon how quickly you want it rented out and the size and amenities the home has. I don't have stats on what rental vacancies are, but single family home vacancies are at 40% right now. Today, there are eight 3/2 rentals in Summerlin ranging from $1,150 to $1,395 and they've been on the market for an average of a month and a half. In Green Valley, prices start at $160,000, and there are 3 rentals ranging from $1,295 to $1,595/month. Something else to consider is what it will cost to make these homes livable, and what your competition is. In Summerlin, in addition to HOA, taxes and property insurance, you also have a SID fee, which runs about $400/year for approximately 10 years. Add that to your property management fees so that you can accurately gauge what your cash flow will be. My answers are based on today's MLS listings, but I'd like to help you with your specific criteria. Please feel free to visit my website when you're ready to move forward. I wish you the best of luck!Wed, 30 Jul 2008 05:57:54 PDThttp://www.trulia.com/voices/Home_Buying/Would_like_to_buy_a_condo_-49050Answer by Mark Karten: Hi Kat, The decision to buy versus rent is a good financial move. The first step is to get prequalified to know exactly how much you can afford, including not only your mortgage but the HOA dues, taxes and insurance. Unfortunately, the Housing Rescue bill which goes into effect on October 1st, 2008 takes away the ability for the seller to contribute to your downpayment or closing costs (usually a total of 6%.) Even more bad news is that the minimum downpayment on an FHA loan will rise to 3.5%. So if buying something in Las Vegas (or anywhere for that matter) is a high priority, I suggest you start shopping immediately so you can close before the deadline. I work with a few terrific lenders who have some programs to get you approved, and a unique website that will show you all the current foreclosures available, by price. I wish you the best of luck in your search!Sun, 27 Jul 2008 00:17:41 PDThttp://www.trulia.com/voices/Home_Buying/Relocating_to_Las_Vegas-48965Answer by Mark Karten: Hi Darren, Welcome back! I think the best advice is to take a look around for a few days at the areas you're interested in, before starting your home search in earnest. Everything has changed dramatically in the last 6 years, and I recommend checking Metro's website on local crime statistics as well. The Northwest will offer you the best home values, the further away from the Strip, the better the prices and the homes are larger and newer. You'll get a lot of recommendations to visit each Realtor's website, and mine offers all the foreclosures by price range, to help you get a better idea of value. Please feel free to contact me, and we'd love to work with you and your family. Best of luck!Sat, 26 Jul 2008 10:05:01 PDThttp://www.trulia.com/voices/Foreclosure/removed-47495Answer by Mark Karten: By using a Realtor, they can enter the exact address of the property you desire, and the minute it gets listed, you'll be notified. Most banks require that a listing stay on the market at least 5 days before offers can be submitted. Although I can appreciate the urgency of wanting to be first, the bank wants the competition to drive up the price. If you're not currently working with a Realtor here in Las Vegas, I'd be happy to offer my services to you. Best of luck!Fri, 18 Jul 2008 14:24:34 PDT