Age Old Dilemma: Buy Another House or Sell Your Current One First?

If you are renting and moving into a new-to-you Las Vegas home the process is usually fairly simple - you just let the lease expire or find another renter to fill your shoes. But what if you have a home to sell first? Do you sell it and move afterward with the need to rent or stay with family or friend? or do you buy another home and then with the risk that your current home doesn't sell quickly and you get stuck with extra monthly mortgage payments? or do you make your contract for the second house based on the sale of the first?

There is no easy answer. You basically have three choices: move twice, risk paying extra mortgage payments, or ask the seller of your new home to accept your contingency.

If you are tight on money and have the option to live with a family member or friend or you can rent for cheap you can live off the bare necessities until the first house closes and you are able to move into the second. If money isn't an issue then it makes sense to move ahead with the purchase of the second home and then take your time with the first. An option that may make your life simple but put stress on the seller of the new home is to make your contract contingent on the sale of your home. Be prepared to have that countered out of the contract because the other sellers may be under a tight time frame themselves. Each situation requires some analysis and an appropriate decision.

Las Vegas Communities

Las Vegas communities are among some of the best planned, most well thought-out residential real estate developments in the United States. From huge master-planned communities like Summerlin to exclusive, high-end enclaves like Queensridge to contemporary C2 Lofts to affordable condo conversions to Strip-view Panorama Towers Las Vegas residents have an amazing selection of great living.

The Las Vegas Valley has grown tremendously over the past decade and projections suggest there are about 10 more years worth of land to develop on. Las Vegas home values are expected to continue to rise as demand pushes prices higher within these great communities.

Las Vegas Business Information

Las Vegas is a thriving economy. From huge casino conglomerate, distributors, construction companies, and entertainment groups to mom-n-pop startups business owners enjoy the booming industry. Unique tax structures provide uncommon advantages to businesses as well as an average of 310 days of sun and productive weather. Tourists and other visitors drawn by the lights of the strip bring millions and millions of dollars monthly into the city.

Las Vegas jobs are abundant as businesses expand or begin. So attractive is the market that some businesses can import whole groups of employees from other cities to fill needed positions.

Las Vegas is the home to many entrepreneurs and expanding businesses alike. Thousands of people will employ each of the dozens of casinos and other huge market venues scheduled to set up shop in the valley. Demand from services needed to cater to these people will sustain business growth for the foreseeable future.

Mountain West Sports Update

The Mountain West college football season is well under way. UNLV, BYU and other favorites have played some exciting games.

BYU and UNLV currently have a very similar season record. On Oct 13 their schedules collide.

This Saturday, UNLV takes on the Wolf Pack in Reno at 1:00. This will be a week after some of the players earned some conference merits, "Coming off its first shutout victory over a conference opponent since 1983, the UNLV football program earned two of the three Mountain West Conference Player of the Week awards, the league announced Monday," as reported on UNLV Sports website.

More updates to come...

Get Full Las Vegas Market Value

It is critical that you set your Las Vegas home's price correctly. Most buyer activity occurs during the first 4 to 8 weeks that a home is on the market. The last thing you want is for your overpriced home to grow stale on the market. You may have to sell it for even less than if you would have priced it correctly in the first place.

Las Vegas agents compete for the right to help you sell your property. Many of them will over promise and under deliver. They will promise you whatever price you want to hear so they can get the listing and then they will convince you later once you are under contract that it is too high when no one has seen the property. Many homes will finally sell for less than what the seller is lead to believe.

Another factor regarding your Las Vegas homes sale is the amount of exposure it gets. Executing an effective marketing plan will put the house in front of as many people as are needed to get it sold quickly and for the highest possible price. The proper plan will help you avoid committing to a lowball offer.

Your Las Vegas agent will be key in helping your determine the right price and the right marketing strategy. He/she will set realistic expectations and work with you to achieve your goals.

Lender Guarantees

It seems that in every profession there are always going to be those who individuals that are going to tell you what you want to hear but have no intentions of delivering. There is a real easy way to nip this in the bud. Lets say that you have negotiated your way to the lowest interest rate, mortgage payment, and closing cost, which of these Las Vegas lenders that you have been interviewing will be willing to back up what they say with a guarantee. Ask them to put what they say down on paper with a signature. What are they willing to do if when your sitting down to sign your closing documents and your cost are higher than what you were expecting? Are they going to pay anything up and above what they promised? Get these things in writing. Note: be lenient with your lender if you mortgage payment comes out $5 or $10 dollars more or your closing cost are $50 to $100 more.

When an Ugly Home Affects a Great Neighborhood

There is a neighborhood near our home where the neighbors all cringe when they walk by. It is a lime green color among homes that are all cream, tan and brown. Its yard is a mess and the cars don't match the demographic of the street. It just drives people nuts. So, what can be done when a home is out of sorts with the area and there is no HOA to govern or force the issue?

A reader of the RJ in Las Vegas asked the question and the RJ responded with an interesting answer...read...

Moving from California to Las Vegas

Congradulations! The chances are great that you are coming to Las Vegas with a handful of cash for a great downpayment on your Las Vegas home. We work with many people from California. We can help you with your situation. The Califonia real estate market stimulates the Las Vegas market a great deal. Home prices have grown in California at a much greater pace so when people sell they are able to move north up the I-15 and in some cases pay cash for a home. The best thing to do is get started with a great lender (we can refer some great lenders) and then have your Las Vegas relocation real estate agents help you find your house. Let us know how we can help.

Build Your Real Estate Team

Your Las Vegas real estate team should consist of several different professionals depending on your needs. It is critical that you have a qualified team who is experienced and astute at negotiations. You will want someone on your side to help guide and council you throughout the process. Start with a quality Las Vegas real estate agent. Make sure he/she is a Realtor. A good agent will have connections with the right people to build your team.

Get Educated about Your Home Purchase

You can learn a great deal from a mentor. Find someone who has done what you are trying to do no matter how simple or complex. Pay someone to educate you before you jump in. Find a good agent, stay loyal to him/her, and get the answers you need.

There are many books out there in real estate. Find several that fit what you want to do. Learn the terms. Learn the processes. Learn the negotiations. Learn the market of the area you are buying or selling in.

Keep in mind one thing: unless you become a real estate professional you will still need to take advice from one. Las Vegas real estate professionals ask each other questions all the time. Many people become educated enough to make themselves dangerous. They know when to throw a red flag but don't know how to solve the problem and they can kill a deal. Get educated enough to know what is going on and to help but be sure to seek out the professional help that is needed.

Here are some books you may be interested in: Books and Education

Maintenance and Care for Your Las Vegas Home

As an owner of a Las Vegas home, the best way to keep its value is to maintain it properly. Caring for your house is much easier if you follow a routine schedule and keep the little things in order. If a house is left too long without common maintenance then it deteriorates and a day comes when a lot of things need repaired at a great expense. Keep your place clean and trimmed. When it needs painted, paint it. When it needs new air filters, replace them. When your house needs a service, have it taken care of immediately so it doesn't turn into a large problem. Caring properly for your house will help it retain its value and you will enjoy it more.

Las Vegas Schools

It is estimated that 10 New Schools per year are being added to the Las Vegas Valley to accommodate growth. New teachers are added and communities planned around these new facilities. Families with younger children can find great elementary or middle schools. High schools generally rank well with others throughout the nation based on test results. Some, like Green Valley High School consistently rank near the top of the nation.

Many parents desire a great education for their students. They seek diligently for adequate schools. In some cases parents give up extra comforts in housing and will pay a little more to live in an area with a reputable school.

Las Vegas School Directories

• Las Vegas Elementary Schools
• Las Vegas Middle Schools
• Las Vegas High Schools
• Las Vegas Private Schools
• Las Vegas Special Schools
• Las Vegas PTAs

Las Vegas Home Buying Tips

One would think that with as many Las Vegas homes as are purchased every year they would make buying a home a simple process. However, for many it is the biggest investment they will ever make and there is responsibility that comes with the privilege of ownership. Financial, legal, and real estate experts have years of experience in these fields because they are trying to make things work for everyone including lending companies, sellers, brokers, etc. When it comes down to it a home is a business venture regardless if you are on the buying or selling end or whether you are somewhere in the middle. When buying a home there are many things to keep in mind.

• Use a Las Vegas Real Estate Agent
  Most Las Vegas home buyers don't realize the huge amount of work that goes into closing and purchasing a home. Orchestrating inspections, appraisals, contracts, negotiations, etc. is best left to a professional. Interestingly enough, many very successful real estate investors use real estate agents or are real estate agents themselves. If they use them even though they may have a vast amount of knowledge about real estate transactions you probably should too. Good agents come highly recommended. Ask around. Get their contact info and then call them. Do they answer their phone in a reasonable amount of time? Interview them. Make sure they know their stuff. Pay them. A good agent is worth his weight in gold. If you hire a discount agent you will likely get a discount service. Give them a reason to make you their top priority. They will support you through a strenuous time and save you time, stress, and money down the line.
  
• Get Prequalified with a Reputable Las Vegas Lender
  Believe it or not, two of the main reasons Las Vegas home buyers are not able to complete a purchase is because they are not qualified for what they are looking for or the loan officer is not able to get the job done. Just like with anyone else you will want to interview loan reps. Ask around. Trusted friends and family will let you know who can make it happen. See what they guarantee and find out how they are tied to your real estate agent. Many times in-house lenders are a plus if the agent has a strong position. Your agent can go to bat for you and have their broker tighten up on the lending broker and they will get the job done. Get prequalified with the lender to make sure you know what your price range is so you don't waste a lot of time for a lot of people by looking at the wrong price range.
  
• Determine What You Need, Want, and Can Get
  Gotta wine taste and a beer budget? We all have a little dreamer inside. We also may not agree with other buying parties (i.e. spouse, parent, etc.) on what is needed. Once you have prequalified make it a priority to determine what requirements a home/area MUST have. Also determine what you WANT in the home/area. What tradeoffs can you make? Is that fourth bedroom a requirement or just nice to have? Does the house have to be one story because of mobility concerns or will it just save you a few steps? Are the schools in the area really that much different than other areas or do you have stats to prove you ought to attend in that area? The more planning you do on paper and with your agent and loan officer before getting into a car to see houses/areas the better off you will be. Know what you need and can get and will trade and then go get the house.

Henderson, NV

Henderson Nevada, to the South East of Las Vegas proper, is the fastest growing community in the Greater Las Vegas valley. Henderson is currently the second largest city in the State of Nevada. Henderson real estate has grown and developed at a phenomenal pace. Luxury homes and outstanding master-planned communities constitute much of Henderson.

Henderson Nevada Real Estate is well known for its fabulous views of surrounding mountains by day and the sparkle of the Las Vegas Strip at night. The City of Henderson also provides geographical convenience. The McCarran Airport and the "Vegas Strip" are no more than 20 minutes away for owners of Henderson Nevada real estate.

Lake Mead and the beautiful Lake Mead Recreation Area are also relatively close (a quick 15 minute trip) to those owning Henderson Real Estate putting you near Nevada water recreation. Anywhere in the City of Henderson Nevada puts you lakeside for boating, fishing, or a day at the beach!

Henderson Nevada Real Estate also provides some of the best golf courses in the valley. If you enjoy getting out for year-round play on renown public courses with reasonable rates for locals, then you ought to consider a Henderson home. If you seek the status and luxury that derives from a fairway estate on a stunning private course, then Henderson real estate will provide a broad range of master-planned luxury communities to choose from.

Las Vegas Hard Rock to Open Second Location

Another Hard Rock Cafe is set to open in the summer of 2009 near the MGM Grand casino hotel. It will be a 41,000 square foot facility with the restaurant, gift shop, and a 370-seat concert venue.

The key location on the Strip is intended to boost the traffic and sales. The original location will continue to draw a crowd but the Strip location will make the cafe a flagship.

There are 123 cafes and 8 casino-hotels in the Hard Rock name around the world.

Las Vegas Homes

New comers to Las Vegas find wonderful homes that fit their needs. As they move to Las Vegas they also find a place that fits their lifestyle. They research great communities and make a home out of great living opportunities. These communities offer amenities and features that provide comfort and accessibility. They live close to work, play, church, family, friends, and/or schools. It doesn't take long before people become accustomed to the climate, culture, and city. They find joy in calling Las Vegas their home.

Homeowners decorate and modify their house to fit their preferences and lifestyle. Some fill their home with plants. Some add movie theaters, some buy extravagant furniture and appliances and some enjoy a simple lifestyle and are very minimalistic in their decor. A Las Vegas house becomes a Las Vegas home when the people living there are comfortable in the lifestyle that fits them.

A Las Vegas Home to Fit Your Needs

This adventure begins by finding a home in a preferred area near desired amenities. A lot of the work can be done ahead of time if a home buyer will take time to find out what they want and need before ever seeing houses. They should ask themselves some questions:

• How large should the house be?
• How many bedrooms do I require? prefer?
• How many bathrooms do I require? prefer?
• What other rooms do I need? prefer?
• What is my budget?
• Do I want a pool? pool nearby?
• Do I prefer other exercise or entertainment nearby?
• Do I need to be near a school?
• Do I need to be near work?
• Do I care if I have to deal with traffic?
• Do I care if there is an HOA?
• etc.

Buyers should determine what they need and what they want and it will save them a great deal of time later on. Next, they need to build a relationship with a great agent. An agent will know how to find houses that fit the criteria so buyers don't have to roam around town visiting dozens of houses to find one that works.

Cheaper Gas Prices Affect Current Wholesale Prices

In Las Vegas, as well as around the country in many parts we have seen some relief at the pump. Consumers can watch the trends over time. In Las Vegas, the peaks and valleys occilate very regularly. It will be easy to predict the next upward trend. Watch in the news the time is short coming.

The great thing about the recent drop in prices is the prices for wholesale goods decreased too. The decrease was around 1.4%.

SkyWire Virtual Agent Helps Agents Capture Buyers

It's a buyer's market, at least in Las Vegas, and agents need every way possible to capture buyer leads. A great option to check out is SkyWire's product, Virtual Agent. It is a simple to use IVR and SMS text messaging system that helps capture prospects at yard signs. It involves a sign rider with a simple text code. A prospect can call the number and request pictures and a discription sent to their cellphone. It's pretty handy, check it out.

C2 Lofts Officially Open in Summerlin

This weekend the C2 lofts are set to open introducing loft living to the amazing community of Summerlin in Las Vegas. Real estate in these areas has been a hot item for years and the addition of loft style living adds to the great variety of homes. C2 overlooks the valley as it sits at the base of Red Rock Canyon.

C2 Lofts has several other projects planned for the future. There are properties available in these minimalist style lofts. Contact a Las Vegas real estate agent to attend the opening or to view the great lofts.

US Foreclosures Take a Jump

August was a month of high foreclosure across the US. The number jumped 36% from July and double that of last year. The MSNBC report suggested that 1 in every 510 households filed. For those who are qualified and in a strong financial position, there are great opportunities.

I know in Las Vegas, many investors who buy and sell against the grain have begun their process either taking on the post-foreclosure process, or making themselves available to people before the process begins. Where there's equity there can be great profit and the chance to bail out someone in a tough situation.

Most Expensive US Zip Codes

Some of the areas in the US are still appreciating in value. Some can ask amazing prices for the homes. Yahoo, actually a Forbes report, reported on several zip codes that are considered the highest priced homes.

It is interesting that some, even though they appreciated, had fewer sales due to the market. Many of the areas are oceanfront. Many overlook beautiful mountains and many are located near popular locations.

Las Vegas Valhalla Estates Offers Luxury homes

Valhalla Estates, built by Richmond American, offers highend luxury living. Homes sit on large lots of 10,000 square feet or so and range from 2,800 to 4,000 square feet in size. They start in the high $500,000 on up. The Las Vegas community is private and gated.

Some of the plans feature private courtyards and balconies. Some of the sites offer RV and boat parking. Many lots are ideal for pools. Plans offer 5 bedrooms, large 3-car garages and many other features.

The community is located in the southeast portion of town only a few minutes drive from the airport and the strip. It has easy access to the I-15 and the I-95.

It is certainly worth looking at with your real estate agent.

Google Rewards Private Trip to Moon

I admit this post is not real estate related but it's ok to diverge from a theme occasionally.

I was impressed by Google's focus on contributing to technology. They have put up $30 million for the first private team to put an autonomous vehicle on the moon. Sounds like you get bonus points for other cool assignments.

MSNBC covered the release. It is an interesting read.

NASA has plans to make a trip to the moon soon too. It is interesting to see what the private sector can do when compared to NASA.

"Billionaire Row" - Real Estate for the Extremely Rich

Forbes reported on some of the most expensive blocks in the US. They put together some research on homes that have sold in larger cities and found that the higher end homes tended to concentrate around major city features. Some of the cities included: New York, Miami, Chicago, San Francisco, Washington D.C, and Seattle. Some homes averaged $65 million.

As usual in real estate, location was a major determining factor. Many wanted a view; many wanted proximity to hot entertainment or other city features.

They also have pictures of the homes and areas. Check them out.

Real Estate on the Las Vegas Strip

The Las Vegas Strip is one of the most entertaining places in the world. Its popular venues attract millions per year. Builders recognize the demand for homes near this area of town and have built some amazing properties right on the strip. Huge high rise condominiums have been erected for residents who love a great view, close proximity to what the strip has to offer, and a community environment.

Towers and condos have changed the Las Vegas skyline. Thousands of units are available with a variety of styles, prices, and layouts. Some of the most expensive properties have recently been sold downtown. Investors understand that this is the "Manhattanization" stage of the valley. As land becomes more scarce, builders offer a high level of style and community amenities while building upwards.

The condos are often contemporary and very modern in style. They are managed by organizations set up to handle the great lifestyle. Many are managed like hotels so the return for an investor is considerable.

Owning a condo is different than owning a single family home. A real estate agent can help you get involved so you can decide on whether or not one of these great properties is appropriate for you.

Las Vegas Affordable Homes

Many people believe that housing within the Las Vegas real estate market is out of reach for many buyers. Lending restrictions, recent value increases, etc. have certainly made it more difficult for some. However, there are great options for many. Foreclosures and fixer-uppers work for some. For many, condos, town homes, and well designed single family properties are very suitable.

The key to buying and owning affordable housing is to find a team who can locate the properties. Understanding your needs is important. Understanding your lifestyle and situation makes a big difference. There are many options and all you need to do is get started with the right professionals.

Getting Qualified

Regardless of the price of the home, most people will be acquiring a loan to own their home. There are several steps everyone must take. Find a lender (your agent can help) who understands you goals and needs and will help you with your loan. Save as much money as possible. Keep your credit in order. Keep your bank statements and documents. If you take care of business you will be able to afford something that suits your needs.

The Process

Buyers of all sorts must go through a similar process. The steps are typically the same, the emotion is the same, and the outcome can be the same. Generally, the more money you are able to put down and the better your credit is the better off your situation will be and the easier it will be to secure your home. Let your agent help you get going.

Las Vegas Investors

Investors in the Las Vegas market have made millions upon millions of dollars over the past few years. In an up market there is considerable gain. In a down market there are many opportunities. Investors who make their move against the grain and have patience for the right deal can find amazing money makers. The concept of buy low, sell high applies to any market. In Las Vegas, the margins are large.

There are many types of investments. Some invest in commercial pieces, some in residential, and some in multi-unit. The decision depends on the current market. Understanding the timing is very important. Novices are often affected adversely by greed and fear. They buy when the market rises and sell as the market falls. Astute investors jump in the game before the market rises and sell just before or at the peak.

Make Your Money on the Purchase

It is rare to sell a house for more than what the market will pay. However, in real estate, there are many opportunities to purchase a home below market value. When calculating your potential gains bank on a good purchase and then the appreciation increases over time. Often, an astute investor can make his money on a flip. However, if the time is right, a great deal of money can be made as a market corrects upwards.

The Right Real Estate Team Is Priceless

When investing it is key to use the right professionals to guide and aid you in your pursuits. You'll want real estate agents, title companies, and other services who can see your transactions through to close and help market your properties once the time comes to sell them.
Tracking the market direction should not be guess work. There are agents who do know the market well enough to predict its future trends. There are indicators to follow to understand the timing. Get in touch with a Realtor to understand your position in the market.

Remembering 9/11

On the morning of the 11th I remember driving to work with the radio off. Sometimes its just better to drive in silence. I arrived at the office to find everyone gathered around one PC with the volume up and a full screen view of the horror as it unfolded. The tone had been set for the rest of the day and the rest of the year for that matter. Emotions ran high and everyone turned to family and friends for support. We watched the news without end and speculated on the events and government response. We felt for those who had lost.

Today the country reminises those days and those events. We hope our circumstances have improved and our security tightened. We hope we can avoid future calamities. We hope we can be a better people and a stonger America.

New Las Vegas Subdivision Offers Homes with Elevator

Las Vegas community Silverado Springs, a subdivision in Silverado Ranch, is selling 3-story homes complete with mud room, storage room, game room and elevator. This 3,727 sqft home is has an elegant design and several featured rooms and technology options. Its builder claims it has great value.

"At $127 per square foot, The Ryan is modestly priced for all of its included upgrades and unique features. It's like a $1 million custom home without that kind of price tag," Grundy said. "With high ceilings, arches everywhere and a big backyard, it's hardly a surprise that people are anxious to purchase."

The Ryan model is available for under $500,000 and is located in a great part of the Valley. Schedule your Realtor to show you through.

Las Vegas Hosts MTV VMA Awards

The MTV VMAs were held in Las Vegas at the Palms Casino. As can be expected, there was all sorts of drama and reports on various artists. Britney reportedly struggled. Kanye got mad he didn't win Rihanna owned the night. Timberlake showed up strong. Paris hit the scene. A bunch of new faces got airtime as other superstars lined the crowd and performed onstage.

Las Vegas is the place for entertainment.

Las Vegas Real Estate Statistics (2007 August Month End)

Summary: Numbers hold steady. Prices hold steady, sales hold steady, and market strength hold steady. Buyers dip toe into market, testing and waiting to make a move.

Las Vegas Listings: (view chart)
Listing numbers grew slowly in August adding to the pressure to home sellers. Home buyers have been waiting for their prime opportunity to jump into a home.

Las Vegas Market Strength: (view chart)
The number of homes sold were down but on the three month average the market hasn't yet shown weakness compared to the national market.

Las Vegas Resale Homes Sold: (view chart)
The number of homes sold was similar to July. Home buyers have had some difficulty closing with new strict lending requirements.

Las Vegas Median Prices: (view chart)
Median prices are relatively unchanged. They're holding steady at between $275k - 285k.

Las Vegas Real Estate Market Watch Conclusion: (view chart)
The market is really flat. Many buyers are on the fense. This means that there will be a considerable influx in purchases once they all begin to make their move.

Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/

Home Buyers Required to Take Mortgage Classes Before Buying

Now, here's a pretty good idea. According to the Las Vegas Review Journal, some lenders have required buyers to take a mortgage class in the past. However, they were very lenient when it came time to report the outcome. Some never took the class but claimed they had and that was good enough.

Well, it looks like that is about to change. Some groups are pushing for home buyers to take a class and even be tested to show some type of competency before taking on a loan. Lenders feel that they may be left standing with empty hands less often if their customers are educated and privy to options and regulations. It's probably not a bad idea.

HUD Foreclosure Seminar in Las Vegas

This is very late notice but I bumped into a seminar posted by the LVRJ. U.S. Department of Housing and Urban Development (HUD) will be holding a seminar tomorrow at the Golden Nugget from 10:00a to 4:00p.

Many home owners in Las Vegas have fallen to the mortage mess we've seen. Many of the foreclosed properties belong to investors or people not anticipating a drop in the market and drop in interest rates. The housing market occilates just like any other market. The good news is that it will rise again and those in the right position will make out best.

Private Transfer Taxes for New Home Buyers

An article in Realtor Magazine highlighted a new form of tax emerging from new home sales. Environmental groups, affordable housing associations, and private companies are pushing builders to include fees, for as long as 20 years, to help support their needs. Builders are able to win support from these groups who would otherwise stand in their way and oppose building and material use. In the end, buyers will pay for the fees. Some see it as a form of extortion. It is an unregulated form of taxing and could be risky for many.

Buyers should make sure they are represented by a real estate agent so appropriate information can be communicated.

Where to Buy a Vacation Home

Even with recent news regarding market downturns there are areas of the US that have still seen some great value increases. Many of these spots are vacation homes. Yahoo released a report suggesting some great areas for vacationing. They break up the list by area. Some of the locations are unexpected...like Moran Wyoming. Hadn't heard of it.

Depending on lifesytle many love Las Vegas as a vacation town of residence. There is a ton to do and over time the appreciation in the valley is considerable...

Home Closes Delayed by Mortgage Mess

Reports of transactions falling out are frequent. Home buyers are struggling to get qualified and remain qualified. Home seekers who would have been able to acheive their purchase easily a few years ago are being held up by much tighter restrictions and policy. Often, they are most of the way through the process and some small technicality holds them up.

The key is to persevere. The home buying process is an emotional event anyway. Now, with more proof of financial viability buyers go through the emotional period and find more speed bumps. However, the right agent, lender, and attitude are helping to get things done. Closings are still happening. As you prepare to purchase a home, keep a business mind and be creative to get the job done.

Hollywood Stars Frequent Vegas

Some of Hollywoods finest frequent the Las Vegas scene for a number of reasons. It seems one of the top reasons is the amazing PR they get by stopping through. As Brit-Brit tries to reestablish her image she frequents the clubs. Professional athletes stop through, often renting out a whole club for a private setting.

Recently, Pure and LAX are among some of the popular places to set up shop. There has been talk of a second Hollywood eventually setting up in Vegas. It is close to the original and enough buzz flows from the city to keep any star in the lime-light. As the city continues to grow it will be interesting to see what develops.

Tips for Reaching New Real Estate Clients Online

The use of online communications has enhanced and sped up the way business is done. Networking and staying in contact is easier than ever. However, according to Yahoo, there are a set of tips to enhance these communications and finetune the connection process.

Keep in mind the following:

• It's NOT all about you
• Cut to the chase
• Offer to reciprocate
• Don't press your advantage
• Close the Circle

Begin with people you know. Get involved in their network and branch out. Be tactful in approaching strangers and over time the network will grow and produce fruit. Specifically for real estate networking, as well as other networking, it is wise to investigate about the person as much as possible so that the relationship can be built on common ground.

US Wins FIBA Gold in Las Vegas Basketball Tournament

Here's a little sports news out of Las Vegas. The FIBA tourney is over and we have our gold medalists! The US cleaned house at the tourney. Those stars who had only won bronze in the past have now added the gold to their collection. They seemed to take things much more seriously this go around. They averaged almost 117 points per game and had some poster-maker plays against their opponents. The highlight reels were quite entertaining.

Default Numbers Rise on High End Homes

A minute ago I posted a blog about this massive house in Conn. Meanwhile, other highend home owners show signs of struggle with the same issues middle-income America is facing. Defaults on the McMansion have increased considerably. In Las Vegas, we have seen a split in the market as far as what homes are moving. Anything less than $250,000 (assuming it is priced competitively) is moving within a short period of time, days in some cases. Also, homes above $1.5 million are still selling at a decent rate. Homes between that range have seen a considerable increase in the average days on market. It seems however, according to an MSNBC report that many who bought large homes overextended and are losing ground to their mortgage.

Massive Mansion in Conn. Stands at 50,900 Sqft

My ongoing quest for over-the-top properties continues regardless if it is in Las Vegas or not. The news reported this home in Conn. at a whopping 50,9oo sqft! Supposedly, only 17,000 feet are above ground and visible. However, some 33,500 feet are in a basement level. The thing is 4,000 feet smaller than the white house. What?!?!

It is 20 times larger than the average home in the US (about 2,500 sqft). What would you possibly do with that much space. Well, it does have a full movie theater (103 seats, consessions, ticket booth, etc.) It only has 5 bedrooms and some 13 bathrooms. Will the occupants actually ever see the whole house accept for during the tour when they move in? It's some house.