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In addition to outdated materials (like plaster instead of drywall or lead pipes) and difficult-to-work-with architectural styles, you have to consider the costs of restoring the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.

No part of Las Vegas or Henderson was left unaffected by the dramatic drop in home prices last year.  There were some parts of the valley that were hurt less than others but none went unaffected.  Some areas only saw about a ten percent depreciation in median home prices while others saw up to sixty percent depreciation on median prices.  Overall the median price for an existing home fell thirty-eight  percent in 2009, down to $128,108.

New home sales in the Las Vegas Valley hit a 24 year low in 2009 sustaining a forty-eight percent decrease over the previous year.  In both the new home and existing home areas, many experts agree that here in the Las Vegas and Henderson Valley, we are extremely undervalued.  Many investors are taking advantage of the low priced housing market, driving existing home sales up fifty-seven percent in 2009.  About three quarters of the sales were attributed to foreclosures with the median home price being about $116,000 and nearly forty percent were cash transactions.

Another reason the Las Vegas and Henderson Valley may be undervalued is because cash flow on rental homes is strongly positive.  Back in the 1980’s investors were happy to break even on a rental home after deducting interest and taxes.  At this point in time most investors are taking advantage of the positive cash flow of rental houses and hanging on to their investment until the market picks up.

Larry Murphy, President of SalesTraq predicts that 2010 will be much like 2006 where home prices ended the year just about where they started.  It appears as though housing prices are bottoming out here in Las Vegas, but it still may be a while until we see a full recovery of the housing market.  It looks as though the worst is behind us.  Murphy is predicting that the banks will close on about the same amount of houses as 2009 but there will be a much different result.  Rather than foreclosing on the houses, many of the homes will turn into short sales, or deals where homes are sold for less than the mortgage balance.  Much of this is due to a new law in Nevada which require mediation before a bank can foreclose on a home.

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

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.

There are some techniques and adjustments used by higher-level appraisers that can bring the appraisal closer to what the true market value of the home is.  Many times people are looking for the cheapest and quickest appraisers to do the work, usually least experienced and least educated, creating a lower appraisal on the home.  Prices have stabilized at around $120,000 – $125,000 in the past six months.  Because of the high volume and high sales of foreclosed homes in the past year, the value of appraisals has dramatically dropped.  This has created a problem for many buyers and sellers who have agreed on the sale price but cannot come up with the additional money not covered in the financing.  We are hoping to see a change in the trend of appraisals soon, making it easier for people to buy and sell homes here in the Henderson and Las Vegas area.

For a list of things to consider when purchasing a foreclosure visit our website.

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

Even though the prices on many homes have dropped by 40 to 45 percent since the real-estate boom in 2006 we still may see ourselves in a seller’s market for certain single-family homes.  Although Nevada may lead the country in foreclosure ratings, many of those foreclosed homes have not yet hit the market, due to the government neighborhood stabilization programs that are renting out houses for up to five years.  This results in many sellers of those single-family homes that are on the market to get more than the list price.

Despite the large amount of unemployment and the downed economy, this is still a seller’s market.  It may be one of the biggest paradoxes in the history of the Nevada housing market.

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

It is clear that there has never been a better time to buy for military personnel.  Interest rates are historically low, home prices have dropped dramatically, and being backed by VA, there is no better time.

Many first time home buyers are using their VA bonuses as well as the first-time homebuyer credit of $8,000 that the government has made available until December 1.

So if you are military personnel in the Henderson or Las Vegas area there may never be a better time than now to take advantage of your VA loan.

For all your real estate needs contact Steve Roberts at 702-739-4392.

Now is a great opportunity to buy for all of the first time homebuyers here in the Henderson and Las Vegas area.  The Nevada Housing Division offers low mortgage interest rates for Nevada’s qualified, first-time buyers, so this is a great time to start.  The Nevada Housing Division recommends that as a new buyer you should follow these five basic steps when buying a home for the first time.

• Prequalify for a Loan: Select a lender, then make an appointment with the lender to determine eligibility, and based upon that information, the purchase price of the home you can reasonably afford.
• Take a First-Time Homebuyer Education Class: The division cannot emphasize how important homebuyer education is for the first-time homebuyer. It is required by the division for all of the division’s down-payment programs. It is recommended that a person attend a six- to eight-hour class in order to receive full benefits of the dos and don’ts of looking for and buying a home.
• Locate An Affordable Residence: Begin looking for a residence priced in the range that the lender advises can be realistically afforded. Don’t become house poor with all the income going into the house and not having any disposable income. Using the services of a real estate professional can take a lot of stress out of looking for a home; a real estate professional will have a number of listings to show without having to drive around neighborhoods looking for houses. Focus on what can be afforded; looking for a home can be fun — enjoy the experience. Use all resources such as home builders.
• Enter Into a Real Estate Purchase Contract: Once you feel you’ve found that perfect home, an agreement or contract to purchase is made. This contract will specify the legal obligations of the seller and the buyer, which should establish a specific date of purchase and set the price of the home. This contract should allow for enough time to complete a home inspection or if other unfavorable technicalities arise regarding identified requests. This will protect you if the contract needs to be canceled and earnest money refunded.
• Apply For a Loan: At this point, you can formally apply for a loan. If, for instance, it’s a Nevada Housing Division loan, you would work through one of their participating lenders. After you have applied, the lender will request that the Housing Division reserve funds for the loan at a specified interest rate.

Las Vegas area home buyers can get more information on our website. For all your real estate needs please contact Steve Roberts at 702-739-4392.

In the record breaking month of June, investors made up 38% of the buyers of both new and existing homes.  These investors are said to have helped keep the housing prices stable from April to June of this year.

But these investors have a different mindset then the investors who bought and flipped on houses here in Henderson and Las Vegas during the boom.  These investors are not looking to buy and flip but rather to create a cash flow.  Many of the investors are buying and renting out the houses to gain some return.  This is possible because the market to rent homes is remaining strong, due to those who lost their homes in foreclosures but still wish to stay in a home.

There has never been a better time to take advantage of the real estate market here in Henderson and Las Vegas then now.  Prices and mortgages rates are lower than ever, with added government incentives, if you are looking to invest or  purchase your first home this is the time.

For all your real estate needs contact Steve Roberts at 702-739-4392.

For example a renter in Phoenix was spending $615 a month to rent his 600-square-foot apartment and realized that a mortgage payment for a home twice the size was only $760 at the time.

There could not be a better time to take advantage of the real-estate market.  If it was ever your goal to be a homeowner in the Henderson or Las Vegas area you need to act now while you can still take advantage of these low prices.

View a complete Buying vs. Renting cost comparison for the Henderson, Las Vegas and Summerlin areas on our website. For all your real-estate needs contact Steve Roberts at 702-739-4392.

Within the first minute, people decide if they could live in your home. The problem is that there are so many homes on the market right now, that if yours doesn’t catch their eye immediately, then they have other choices. The struggling housing market is forcing people to take more drastic measures to sell their homes. Many homeowners say they need all the help they can get. With the market not being so good, there are ways you can make your house stand out. Staging your home is the way to make your house stand out in the Henderson, Las Vegas, Summerlin Nevada areas.

The idea of home staging is to highlight your home’s best attributes and positively affect potential buyers. Staging your home isn’t about your own tastes. It is about making the home appealing to the general population. Whether you go at it alone or use a stager, you need to have the attitude that your home is no longer your home.

Following are some tips to consider:

• Take down family pictures. Potential buyers need to picture themselves in your home, not you!
• Staging your rooms to show off their true potential. Clear out clutter or other personal items that will distract buyers.
• Painting the walls yourself is the cheapest upgrading option you have. This will really attract buyers. Try a neutral tone.

Staging your home is a great option to make your home stand out in the Henderson, Las Vegas, Summerlin Nevada areas. Let myself, Stephen Roberts, your agent offer you advice about how to make your house more attractive to buyers.