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Las Vegas Real Estate News
 

Creditors repossessed 677 homes in the Las Vegas area in May, the third consecutive month-to-month increase and the highest monthly tally in more than 2 1/2 years. Unfortunately, the prices of them don't reflect the surge. Many of them are listed way over market.

 

Builders sold 527 new homes in Southern Nevada last month, bringing the year’s total to 2,360, a year-to-year increase of 8.9 percent. The median closing price in May was $315,250, up 12.6 percent from a year earlier. This trend will probably flatten out in October as we reach the end of a typical selling season.

 
For some odd reason, this article buried an important survey in the middle of a construction article. All Property Management ranked Las Vegas No. 7 in the West and No. 10 nationally among its best markets for rental real estate investment in the first quarter. Year-to-year property-value gains averaging 12.7 percent — the highest “by far” nationwide in the quarter. A rental-capitalization rate of nearly 8 percent also helped make the case.
 
Commercial lending back in the hay day was usually in the 80% to value range. Now it's more like the 55% ratio. With interest rates at a historical low, low prices and stiff lending requirements, there is no better time to pay for commercial with cash than right now.
Multi Family

$170k - 7 Units

75% Occupied.

Commercial of the Week
Strip Mall

$500k

4 Unit Retail

Video

Single Family of the Week
Single Family

$170k - 3/2/2

Vacant

AC Filters
Intuit Payment Issues

We completed our task of changing out filters for multi family properties. Our next scheduled event is for single family properties. The cost will be $10 for the filter, $20 for delivery and $10 to admin for a total of $40. If you don't want your filters replaced, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. to remove you from that list.

 

Intuit has been increasingly "buggy" the last few weeks. Owners have been having problems paying us for repairs so we are looking at alternative vendors in the next coming weeks.

If you are currently receiving funds from Intuit, we will be changing procedures with you by paying you directly from Chase. Liza will be contacting everyone who receives funds from Intuit and switching them to Chase.

Foreclosure
Hard Copy Now Available

Concepts, strategies and practical solutions are clearly explained to those who want to manage their own properties or own a property management business. Hard copy release in March.

Foreclosure
 
Hiring Managers
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Popular Links
Video of building full of squatters.
Video of abandoned fourplex.
Evictions and how they work
Jim's Recommended Reading List
Property Management Links
Evictions and how they work
Resources - popular vendors