Foreclosures in North Las Vegas Still Available for Careful Buyers

Despite the winter’s chilling effect on all sorts of sales, February saw single family homes, condominiums and townhomes selling nationwide at a full 7% increase over a year earlier. The opposite is true of foreclosures—no surprise, since the health of the market means fewer serious borrower delinquencies, hence fewer foreclosures.

Even so, North Las Vegas foreclosures are still available, possibly because some of the fiercest competition may be tailing off. Real estate watcher RealtyTrac finds that the institutional investor buying spree appears to be losing steam—which could be very good news for individuals interested in purchasing foreclosures.

Typically, North Las Vegas foreclosures are listed on an as-is basis -- and that means exactly what it says. Whatever is wrong with the property will remain unfixed. Unlike a traditional home sale where you can negotiate with the seller to fix problems or provide credits to counterbalance the expense to have them fixed, when you buy a foreclosed home as-is, that option isn’t available.

When you are up against time pressure to submit an offer, you do have other strategies. One is to hire a qualified home inspector to go over the property, then make your offer contingent on the results of the report. That allows you to know what you are getting into before you commit. If it turns out that the repairs needed are minor, you can choose to go forward with your purchase. If there are too many costly problems, or if there are an overabundance of unknowns, it might be in your best interest to pass. A contingency like this gives you the freedom to weigh your options carefully before you make your decision.

One other issue to keep in mind is the insurability factor. If you believe your offer represents good value even though the property has significant maintenance issues, remember that in most cases you will need to have a home insurance policy in place before you can close. Ask your insurance agent to check the property to determine whether it can be insured. If the first answer is no, you can still check with other companies—but keep in mind that in the world of foreclosures, this can become an insurmountable obstacle.

Buying foreclosures in North Las Vegas needn’t be overly risky when your approach includes careful evaluation of the target property. North Las Vegas foreclosures are still out there, and with care and patience, you should be able to find one that is right for you. Interested in discussing further? Contact me today!

Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search



It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.

Will North Las Vegas Real Estate Values Extend Rises in 2014?

     If there is one question that homeowners and prospective shoppers have in common as we enter the New Year, it’s about the direction of North Las Vegas real estate values in 2014. Small wonder: the financial market meltdown of the last decade had such a profound impact on all forms of real estate that it still has many people looking nervously over their shoulders. How likely is another tumble in the coming 12 months? Will real estate values in North Las Vegas continue to rise? Knowing the answer could make a big difference to anyone planning to buy or sell a home in North Las Vegas this year.

Of course, absolute certainty on that score is not possible for anyone without a time machine in their basement. But, as we look back over last year, we might gain a little bit more confidence by hearing from the experts who got it right in 2013.

Foremost among them was Dr. Lawrence Yun, the chief economist of the National Association of Realtors^®. Last year, he was dead-on. 

Dr. Yun is calling for a continued rise in prices—pretty much in line with the past year’s gains. To compensate for expected mortgage interest rate gains—the likely effect of the Federal Reserve’s easing of policies that fueled 2013’s financial markets—he suspects that lending institutions will ease borrowing strictures. That’s something we can all applaud!

Overall, if North Las Vegas real estate values in 2014 follow the NAR’s national prognostications, we would expect real estate value increases either like the Wall Street Journal’s quoted prediction of 6%, or of Dr. Yun’s 5%. Either would not be surprising, given last year’s North Las Vegas real estate values numbers. What the NAR experts and the Journal also agree upon is a flattening of residential housing sales volume in line with 2013 levels.

How much credence can we give to what the seers predict? Perhaps a little more than usual. “The NAR forecast could be viewed as restrained in light of the housing market’s gains in the past two years,” says the Journal; and “…other 2014 forecasts are fairly close to Mr. Yun’s predictions.”   

So, if you looking to buy in North Las Vegas allow me to assist you with locating your dream home!  Andrea Gonzalez- VIP Realty Group| 702.485.7887| vipdreamhomes.com| website: http://vipdreamhomes.com  

Click Hear for North Las Vegas Foreclosure Deals

Real Estate Roundup, 2013 Edition, Sizzle and All!

It’s time for this North Las Vegas real estate observer to tackle the New Year’s roundup of the Year in Real Estate (along with the traditional disclaimer that, since the actual statistics won’t be tallied until 2014, this has to be a lot more sizzle than steak!) But this is one time in the year when we North Las Vegas residents get to take pause to relax, perhaps put a bottle of bubbly in the fridge for later on, and take a sweeping view of the general direction of things across the land.

If you’ve been reading here throughout the year, you already know that 2013 North Las Vegas real estate activity might easily justify chilling a superior vintage champagne: it’s been a pretty darn good year! A smattering of last week’s press reports confirms it:

• ·         From the East Coast to Oahu (where there was a “1 in 3 chance” that if you sold a house, it was for more than the asking price), reports were of steadily rising prices.

• ·         The Business Insider reported that the Big Apple “managed to shatter several real estate records in 2013.” One of the records was a tidy listing for a modest little 62,000 sq. ft. private coop residence. Sure, $130 million may sound a little steep to us here in North Las Vegas, but that might be because so few of our digs have 82-foot swimming pools or tennis courts…at least not indoors, inside our five-story apartment atop a skyscraper.

• ·         More down to earth might be NAR’s assessment that “Housing prices rose faster than expected” — with a lot of credit given to the fact that “affordability remained high.”

• ·         Another factor: “More first-time buyers” were entering the market due to “rising rents and pent-up demand.”

• ·         Following suit, the Dallas News was touting a local home market that “came roaring back in 2013;” one that had “builders rushing to keep up with demand for new houses.”

• ·         The Realtor® web awarded credit for the strong real estate year to “Low mortgage rates, all-cash buyers, and tight inventories” that sustained the housing market recovery. Our North las Vegas real estate saw much of the same.  

• ·         There was one notably bleak spot: “ACT real estate hit hard by election” the Times reported. “Uncertainty” about election politics had created “subdued performance during the year” and some “negative house price growth.” The best news: this was the Canberra Times – and the country was Australia!

So let’s wish those Down Under a quick turnaround; then, after a relaxing day watching the Rose Parade and a bowl game or two, let’s get ready to charge into an equally dynamic 2014.

Happy New Year, everyone!

Call or Text Your North Las Vegas Realtor: Andrea Gonzalez- VIP Realty Group

(702) 485-7887

WANT AN AMAZING HOME DEAL AROUND LAS VEGAS?

 

 

 

 

 

 

Want to see a list of those incredible North Las Vegas foreclosure deals you hear about? 

Foreclosures and bank-owned
properties are out there.  And many of them represent a lifetime deal to the
savvy home buyer!

But how do you find them?
 Many online property
searches do not highlight foreclosures or bank-owned properties so they can be difficult to find.

But as a licensed real
estate agent, I pay for special access to the Multiple Listing Service (MLS)
that gives me access to an incredible amount of information many do not have
access to.

 If you want my HOT LIST of
foreclosed, bank-owned, and distressed properties often selling at steep
discounts, simply sign up above for my FREE HOT LIST. 

 

Provided by: Andrea Gonzalez/VIP Realty Group/http://www.vipdreamhomes.com