Las Vegas Real Estate News

Foreclosures Down

One in every 133 homes in the Las Vegas area was hit with at least one foreclosure filing from January through June, down 10.1 percent from the same period in 2015. Activity also slowed nationally, and overall, Las Vegas’ foreclosure rate was 11th highest among large metro areas.

Single Family Prices Continue to Climb

The median sales price of previously owned single-family homes in Southern Nevada in June was $235,000, up 2.7 percent from May and 6.8 percent from a year earlier. We predict steady annual increases of about 5% for the next few years.

Commercial Loans In Trouble

Commercial real estate is still hungover from the recession. Now is the time to purchase commercial retail.


Lease/Options (Channel 22 Video)

We have made a few policy changes on our lease/options. 

  • Notices – Tenants will be required to notify owners 90 days before their option to purchase expires. New lending laws are wreaking havoc on the escrow process. Typical escrows now take about 50 days. Rediculous.
  • Background Checks – We are now doing “soft checks” on prospective tenants. Tenants who have eviction history or tenants who are flagged will not be allowed to do a lease/option.

Here is the top 10 properties you should consider purchasing for lease/options.

This week’s Top Pick Screen Shot 2016 07 14 at 5.00.40 PM


 

Property Management Info

Silvia MendozaGrace Imhoff – Has joined Limestone Investments as a property manager.  She was a transaction coordinator for Keller Williams and has years of property management experience.



Silvia MendozaSilvia Mendoza – Has joined Limestone Investments as a property manager. She speaks Spanish!!! You have no idea how hard it was to find and recruit a licensed property manager who speaks Spanish and willing to leave their existing brokerage. 


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