Archive for the ‘Henderson, Nevada Real Estate’ Category

Marine Corps Ironman Comes to Henderson

Friday, September 9th, 2011

Ironmen and Ironwomen have begun to arrive at McCarran International Airport. This weekend the city of Henderson, Nevada will be hosting the 5th annual Marine Corps Ironman World Championship 70.3. (Yes, 70.3 total miles). The race is relocating this year from it’s previously home in Clearwater, Florida having been there since it’s commencement in 2006.

The world’s finest and strongest triathletes will be competing for top honors as well as a split of $100,000. Beginning at 6:30 am on Sunday September 11th, competitors will swim Lake Las Vegas, run the Henderson streets and bike through Lake Mead’s National Recreational Area.

After 70.3 miles of water and road, athletes will cross the finish line at the Henderson Pavilion. Spectating is free and residents and visitors alike are encouraged to come out and cheer on these dedicated Marine Corps men and women!

As with any race that comes to town, delays are expected. Check the Henderson Live Website for event schedules and times as well as detours and road closures.



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Las Vegas Real Estate Market Review

Wednesday, July 20th, 2011

We are getting straight to the point today, taking a snapshot of what has been happening in the Las Vegas real estate market since January 2011. We will be specifically addressing single-family residences.

Take a look at the graph below displaying data from January to May of 2011.



According to Clark County data from January to May there have been 15,749 single-family residences sold. Note that this is only SFR obviously the numbers are higher when you add all of the other property types. The up-down-up-down dips from month to month are just another indicator the market while not stagnant is still sporadic and the slightest economic change can altar sales numbers.

What Zip Code(s) to Watch:

Of all the zip codes in Clark County, 89031 consistently ranks the highest with the most monthly sales. This area in North Las Vegas is largely made up of the expansive master plan of Aliante. Aliante is currently selling at less per square foot than any other master plan in the Las Vegas Valley. This is most likely the reason 89031 is averaging the sale of 145 single-family units a month. Two other areas with sales in the hundreds every month are 89148 – Rhodes Ranch area, 89052 – Anthem/Henderson area.



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The Great Las Vegas Real Estate Struggle

Wednesday, July 6th, 2011

Let’s just state the obvious: Real estate in Las Vegas is a little messy. We read forum after forum where homeowners are posing this question, “I can’t refinance my home, I can’t sell my home and my mortgage will be too high for me to pay this year what should I do?” Therein lies the great Las Vegas Real Estate Struggle.

We know that a large percentage of homeowners are upside down in their homes. Many of them greedily took out large equity lines that made the situation worse. Let’s not forget there were those who did in fact make wise purchases who too are in a dilemma. As housing prices continue to fall and are now lower than nearly any other city, the home values are not there and there is no room to refinance. The lending guidelines have become strict again and even if they weren’t THERE’S STILL NO VALUE! Many homes are worth less than half of what they were purchased for.

In most of these forums, the comments read “suck it up” “get a job” “you signed the papers” “short sale it” “rent it.” A short sale? Don’t think that just because one sells short that they are out of the clear. The remaining balance doesn’t just disappear. Many cannot pay on the remainder. Rent you say? That may be a valid option IF you can find a renter because everyone is doing this and the rent rates are highly competitive. Ugh. It’s a mess.

Even in the midst of a big mess, mortgage companies do want to work with the homeowners whether with forbearance agreements or setting up a payment plan that will work until something better can be arranged. A recent article by Yahoo! talked about banks cutting the principal balance on mortgages that were high risk such as the deadly Pay Option Arm. Who knows? Maybe yours will be cut or maybe they’ll just work with you through the mess. Regardless, the struggle is real and the struggle exists for the wise and the foolish, the rich and the poor. No one seems to be exempt from this one.



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NV Assembly Bill 373: New Law for NV Residents

Monday, June 6th, 2011

On May 29, 2011 the governor of Nevada passed the Nevada Assembly Bill 373 (NV AB 373). This bill, “Prohibits the destruction of real property that is subject to foreclosure with the intent to defraud.” In other words, it is now a misdemeanor to intentionally damage a foreclosed home. Whether you own the home or are renting the home, anyone who strips a foreclosed home or purposefully damages it is looking at up to four years in prison or up to $5,000 in fines.

The photos below were taken from one of our bank owned properties. Nearly anything that could be sold for cash was stripped from the inside of this bank owned home and what wasn’t taken was intentionally damaged, leaving the bank with nothing but a big mess.

Damaged Back Room

Stripped Closet

Stripped Bathroom

Violators (especially disgruntled homeowners) are damaging their property in order to stick it to the bank and it does. The banks in turn have to sell the damaged property at an even lower price causing an even steeper decline on the value of surrounding homes. Banks by in large do not spend extra money fixing up a property to sell. You can see what kind of predicament this bitter trend of stripping is having on the market. At least now there will be penalties.

Many Las Vegas real estate residents believe that it will be very difficult to prove who actually did the damage if they are not caught in the act. There have been numerous reports of vandals simply breaking into vacant homes (foreclosed or not) and stripping the home to bare bones. Again, it may be hard to prove.

Regardless, the bill is now in effect. We’ll just have to wait and see how it all pans out. I think awareness is heightened enough that we will see people getting caught red-handed.



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Reserving a Shelter in Henderson, NV Parks

Wednesday, May 25th, 2011

Memorial Day is just around the corner and if you or your friends don’t have a backyard big enough to host a big party, chances are you’re looking for a place to go. Maybe you don’t have the time to clean beforehand and you’d rather use someone else’s charcoal grill. Why not try having your celebration under a nice shaded shelter in Henderson, Nevada parks?

The steps for reserving a shelter are quite simple.

  1. You must be a Henderson, Nevada resident or company.
  2. You may reserve the shelter up to 180 days in advance.
  3. Download, print and fill out the park reservation application.
  4. Drop off the application during business hours to the City of Henderson Parks & Recreation Department.
  5. Bring a credit card with you for the security deposit. For parties less than 150 people, the total after the refundable deposit around $25. Leave it in good shape and they are good to you.

The process is pretty easy and there are little to no hassles. There are two important things to remember.

  • SHELTERS CANNOT BE RESERVED ON FEDERAL HOLIDAYS. THEY ARE FIRST COME, FIRST SERVE.
  • THE SPLASH PADS AT THE SIX DIFFERENT HENDERSON LOCATIONS CANNOT BE RESERVED. THEY TOO ARE FIRST COME, FIRST SERVE.

Other than those 2 rules, partying in the parks is really easy. The beautifully maintained parks of Henderson, NV are truly one of the greatest free perks of living here!



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