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Home Buying in 89121 : Real Estate Advice

  • All31
  • Local Info3
  • Home Buying14
  • Home Selling1
  • Market Conditions1

Activity 8
Sat Feb 28, 2015
Crisann Conroy answered:
My husband and I currently fix up condo's for resale.
I have done renovations, flips, built and one condo. conversion.
I would be happy to help you find a property to renovate.

There are several condo's on the market for under $50,000. If you are owner
occupied, I have a lender who could help you obtain a 4% grant for the down payment
if you qualify.
... more
0 votes 3 answers Share Flag
Sun Feb 15, 2015
Alvin King answered:
I would suggest that you meet with a Mortgage specialist, someone that can take a look at your particular situation and suggest a path to success. If you do not have a Mortgage specialist, I will be happy to refer you! Good Luck! ... more
0 votes 13 answers Share Flag
Tue Oct 23, 2012
Robert Adams answered:
Raj,
Did you purchase the investments as you had planned? Just curious as to whether you are still looking or if you are all set and making some money!!!

Hope all is well!


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
... more
0 votes 19 answers Share Flag
Mon Jan 16, 2012
Kurt Grosse answered:
Lynn, We have a great house listed as a short sale in Overton, NV. It's on an acre with a 4 bedroom modular home near Lake Mead. The current list price is $150,000. E-Mail me at TerriandKurt@cox.net and I'll send you a copy of the listing with pictures. Personally I love the property and think it's a great value. We can also send you listings in other areas in and near Las Vegas. Modular homes are not as common in Las Vegas as they are in surrounding areas. You can also call me at 702-656-1818. Thanks, Kurt ... more
0 votes 7 answers Share Flag
Mon Oct 10, 2011
Renee Burrows answered:
the only way you will know if you can get approved is if you go through the process with a NV licensed lender. Underwriting for mortgages is very tough and blanket approvals from scenarios are a thing of the past. Best of luck! ... more
0 votes 16 answers Share Flag
Sat Apr 3, 2010
Valerie Edwards answered:
The local market in Las Vegas is definately a "Seller's" market. Of course prices are much lower than what they previously but we are very SHORT on listings right now. Hence we are receiving anywhere between 3-18 offers per listing. On a few of my bank owned lsitings i have received up to 25 offers...most of which were well above list price. Obviously the comps need to be made so you know where your offer should be and NOT what the list price is necessarily. Many keep saying that we will be receiving a bunch of new listings soon but hey have been saying that for over a year now. Fact is a "balance market" for las vegas is a 6 months supply of inventory. Currently we are below a 3 month supply. Hence, there is not enough homes for the buyer. Of course the lower cost of the home the higher the number of offers they typically receive. If you are looking around $100K to $250K be prepared for a lot of competition and do not wast your time putting low ball offers in. You will burn yourself out and miss out on the home you want.

Most important...be prepared to make the offer when you see something you want.
1. Prequal (PQL) with multiple lenders all at once (less of a hit than individual requests over 2 to 3 month period. Specifically, get a BofA & Wells PQL as well as your credit union and anyone else you are interested in. Most bank owned properties(REO's) are owned by Wells or BofA and many of the listings agents require a PQL from the bank that holds the note! If you don't have the appropriate PQL "prior" to submitting the offer, the listing agent will often not submit your offer to the seller.
2. The only exception to the PQL is if you are paying Cash. In that case you will need proof of funds (POF) that is current (less than 30 days) from your bank..
3. EMD-Ernest Money Deposit is required to submit an offer. Again without the copy of the EMD, listing agents will not typically submit your offer to the seller. Your agent will ask you to right a check to a Title/Escrow company for a specific amount which is stated on the MLS form. A copy is then made and submitted to the listing agent along with the Offer and the PQL. The check is NOT ever deposited until you are in receipt of a fully executed contract. That is...the seller and you have signed all required documents and agreed to all the terms. It is always best to have your agent redact (remove/black out) t the account number from the "copy" of the check that is submitted to the listing agents office.

It is important to select an agent that is experienced in dealing with contracts surrounding REO (real estate owned by banks) and Short Sales (SS) . There are a lot of variables that you don't want your agent to figure out after the fact especially now! Knowing that there is a shortage of listings, seller's are not granting extenstions to contracts without charging per diem to the buyer...hence mistakes/delays will cost the buyer approximately $50 to $100 per day past date of scheduled closing in the contract.

Valerie Edwards, REALTOR
RRG, SRES, SRS, RSPS, SFR, ATHOM
Premier Real Estate
(702) 371-5533
INFO@AgentValerie.com
www.AgentValerie.com
... more
0 votes 5 answers Share Flag
Wed Oct 21, 2009
Deborah Nance answered:
Hi Jim, I looked on FHA's list of approved Condos in Las Vegas and Sunrise Villas is not listed. Here's the link. Deb
0 votes 1 answer Share Flag
Thu Aug 20, 2009
Arvin Anderson answered:
A property goes through four stages when sold. First it is in ER status which means it's availabe for sale. Once a contract is accepted by both parties it goes into C-ontingent status. This is when the home inspection, CC&R's review, and other items of the buyers due diligence is performed. Once that it is completed it goes to P-ending status which is pretty much waiting on funding from the buyer. Once the the money has switched hands and the document are signed and recorded it goes to S-old status. I hope this helps. If you have more questions please feel free to contact me.

Arvin Anderson
Keller Williams The Marketplace
702-580-7161
ownyourlasvegashome@hotmail.com
... more
0 votes 2 answers Share Flag
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