The deadline for this tax credit is set at June 30, 2010.  Senator Harry Reid proposed a bill last Thursday that would extend the deadline to September 30 if passed.  The reason for this extension would be for the many homes that are currently under contract in a short sale situation.  Short sales, which currently account for more than 30 percent of home sales in Las Vegas, require approval from a lender and go through a process that can take up to six months.  The extension would allow for many of the homes that are currently in the process of short sale to be eligible for the homebuyer tax credit.  The tax credit not only gives a tax incentive to first time homebuyers but also gives a $6,500 credit towards move-up buyers.

For all your Real Estate needs contact Steve Roberts at 702-739-4392 or visit my website at www.hendersonrealestateonline.com!

It is hard to imagine a recovery of the economy without the recovery of the housing market leading the way.  If you are building homes you are going to build schools, roads, retail centers, etc.  Many homebuilders are expecting 2010 to be a rebuilding year, where they can focus on building different types of homes that better meet the demand of the time.

The large problem in a state such as Nevada is that many prior homeowners are underwater.  Many homeowners owe more on the mortgages than the homes are worth.  These people will not be in position to buy a new home for quite a while.  There is also a concern that recovery may still be stifled because a lot of subcontractors have gone out of business due to the recession.  Once there is high demand, it may be difficult for homebuilders to keep up.  There also may be a shortage of materials such as lumber.

As we approach summer in 2010 we hope to see not only the housing market recover, but the economy as a whole.

For all your Real Estate needs contact Steve Roberts at 702-739-4392.

However, if you’re simply looking at the intricate architecture and are thinking how great it would be to own a piece of the city’s history, you might want to take a step back and consider all the work involved in becoming a historic home owner.

Home Quality

The most important consideration for purchasing a historic home in Henderson is the quality of the house. Whether you’re looking at a bungalow or a mansion, you have to remember that time is rarely kind to real estate.

In addition to outdated materials (like plaster instead of drywall or lead pipes) and difficult-to-work-with architectural styles, you have to consider the costs of restoring the house with authenticity in mind. Many materials are no longer available or can be costly if you want to maintain the historic integrity of your home. The same is true of the availability and cost of craftsman qualified to work with your particular home.

Nevada Housing Regulations

Many historic homes are overseen by governing bodies that regulate what you can and can’t do to your own home. If you’re in the market to purchase a historic home, make sure you know who you will have to go through to get the right permits for renovation, or if you’ll need to register and pay a fee to get your home listed as an authentic historic site. You might also want to note what kind of tourist interest you will get from having a historically-listed site.

Financial Investments

Fortunately, not everything about owning a Henderson historic home is hard work! Historic homes, when restored with authenticity, safety, and modern comfort in mind, are an incredible financial investment. Many people are willing to pay top dollar for homes that are in perfect shape or that have a keen attention to detail.

Many local governments also offer tax credits and tax freezes for those who maintain a certain level of quality in their registered historic homes. This means that a historic home can be a great investment, as well as a beautiful piece of architecture.

Finding and Buying Your Historic Home

When refurbished to contain all the modern amenities today’s families need and enjoy, a historic home can become a showpiece – both for your own visitors as well as those interested in the history of Henderson, Summerlin and Las Vegas. As with all real estate purchases, however, this one should be made after much consideration and under the guidance of your trusted agent.

However, an open house can be an unnerving event; after all, you’re opening your home up to complete strangers, and in most cases, you won’t be there to witness the event. By knowing what to expect, you have a better chance of selling your NV home – all while keeping a handle on your peace of mind.

• Remember that an open house is just one part of a larger marketing process. No one wants to sell your home more than your Henderson real estate agent, and the best approach in any sales climate is to reach as many potential homebuyers as possible. That means diversifying the way you market to include those who prefer the low-key atmosphere of an open house.

• Don’t expect immediate results. Few people enter an open house and make a purchase right then and there. The real outcome is most likely going to be a few appointments for a private viewing or future appointment.

• Remove your valuables, money, keys, pets, medications, and any paperwork that has personal information on it (such as bills). Although a good real estate agent will keep an eye on your property to avoid damages, anything that is of value (for either monetary or personal reasons) should be safely tucked away. This can actually help sell the house in the long run, since personal effects tend to turn buyers off.

• Do a walk-through with your real estate agent immediately before and after the open house. This will allow you both to determine damages or thefts with an objective eye.

• Remember that an open house can tell you a lot about your property. Your real estate agent will be able to draw conclusions based on the turnout and the overheard comments. If few people show up, it could indicate that your asking price is too high, or that your curb appeal simply isn’t up to snuff. A large turnout with few leads could mean that the problem lies with the layout or “dressing” of your home.

Selling a home in NV can be difficult in today’s market – but it isn’t impossible. By approaching your marketing strategies with an open mind – and an open house – you can get your home effectively promoted throughout the Henderson, Las Vegas and Summerlin housing market with better results than ever before.

Many banks such as Bank of America are starting to get short-sales done in as little as 30 days.  Many are also offering “Cash for cooperation” deals, giving people up to $5,000 to leave their foreclosed home in good condition.  It is becoming easier and easier to buy a short sale home.

For a look at the current inventory of short sales in the Las Vegas Valley visit our website.

For all your Real Estate needs contact Steve Roberts at 702-739-4392 or visit the website at www.hendersonrealestateonline.com!

The truth is, there’s no reason why your Henderson home has to be the size of a small country in order to appeal to homebuyers. Small spaces, while more of a challenge to decorate and stage, have quite a bit of potential for appealing to those looking for charm, coziness, and class. If you’re doing the staging for your home yourself, here are few important tips in making your small home look like it’s worth every penny.

1. Get rid of the stuff. In any home staging effort, you want to get rid of personalized items and all the miscellaneous knickknacks that find their way into your home – including paintings and even overly unique drapes. This is never more important than when you’re trying to make a small house look bigger in NV.

2. Go for neutral colors. Dark colors make rooms look smaller in size. By using light, airy colors, you’ll give the appearance of more light – and therefore, more space.

3. Offer storage options. Most people need to really “see” themselves in a Henderson home before they buy it. If you find creative ways to set up storage (such as in hidden cupboards, in strategic locations behind the couch, or even in a great set of shelves), you’ll give the impression that the house is not only beautiful, but livable.

4. Go for high-end details. Many of today’s homebuyers are willing to overlook a smaller space as long as it still retains a high value. Things like crown molding, built-ins, great appliances, and hardwood floors can go a long way in adding to the charm factor.

5. Use bright, strategic lighting. As with choosing lighter colors for wall paint, the idea of using light to give the impression of space is a good one. This is especially true if you can use track or recessed lighting to streamline the space even more.

Remember, there is no such thing as a typical homebuyer. By neutralizing your space and offering the little luxuries that allow people to envision themselves in your home, you’re allowing them to look beyond square footage to see how your Henderson house for sale will help them create a lifetime of memories.

To view all homes currently listed in the Las Vegas Valley visit our website.

For all your Real Estate needs contact Steve Roberts at 702-739-4392.

Buyers are more serious during the holidays. Anyone shopping for a home during the holidays probably has to buy before a certain deadline. Therefore some buyers may be looking to relocate before the new year. Investors may also want to close before the end of the year for tax reasons. If you live near a university, students and staff may be looking for homes between academic sessions, and if you live near a military base, servicemen and women may be moving to the area. Work with me, Stephen Roberts, your agent to target these motivated buyers. Buyers have more time to house-hunt. Buyers who are looking at this time during the holidays are serious about making a purchase. Some buyers purposely wait until their families are together for holiday vacations to start looking for a home. Homes show better in the winter. Decked out in lights and garland, homes often look their best during the holiday months. Take advantage of the Holidays and spruce up your homes to make them more festive. Deck the halls, but don’t go overboard, just enough to make your prospects feel at home and your home still looking spacious.

Home sellers can’t always take a holiday from keeping their house on the market. Instead, they should consider ways to turn the holidays to their advantage. By holding a holiday-themed open house – maybe instead of the traditional Sunday afternoon open house; your home could be open in the evening to take advantage of a festive holiday light display. Keep in mind to not block or cover up important selling features such as fireplace mantels, stairs, stained-glass windows. Tone down the size of tree. In place of a 10-foot tree, try decorating a table-top, four-foot version. Set a plate of cookies on the counter, next to festive paper napkins for guests. Giving house hunters a place to escape from the cold is another excellent way to get them inside your home.

The holidays are stressful enough without having to think about staging and open houses, so if you’re not truly motivated to sell, it’s probably best to wait a few months. But if you absolutely have to sell, don’t be discouraged. A good agent like myself can take the burden off of your shoulders, giving you more time to enjoy the season.

With these tips in mind, it is possible to enjoy the holidays and still successfully feature a home for sale on the real estate market. Now is still a good time as ever in the Henderson, Las Vegas, Summerlin Nevada areas.  To search our local MLS listings visit our website.

A steady decrease in home inventory will help home values turn positive in the coming year.  Affordability will decline from record highs next year but will still remain at incredibly affordable levels for qualified home buyers.  It’s projected that home prices will rise between 3 and 5% in 2010, finally stabilizing the housing market.  It also seems as though the unemployment rate is peaking at about 9.5%, so we are hoping that 2010 will bring a more stable economy not only for the housing market, but for the nation as a whole.

See our website for a quick look at the benefits of Buying vs. Renting.

For all your Real Estate needs contact Steve Roberts at 702-739-4392.

Click here to view Frequently Asked Questions regarding the new homebuyer tax credit extension.

Click here to view the most recent changes to the tax credit and for a comparison of the 2009 and the newest extension.

If you have any questions regarding the homebuyer tax credit extension or any other real estate related questions please call SER Realty, LLC at 739-4392.