Southern Highlands Update.... Las Vegas Real Estate Market

(702) 900-1238 Southern Highlands Las Vegas is the subject for The Melvin Peters Real Estate Team. It is a hot neighborhood in the middle of a golf community with great restaurants and amenities throughout the community.  Melvin says, "it's a little known gem, that is now being discovered." Sales numbers are up in Southern Highlands and so are the prices by just a bit says Peters. For information on Southern Highlands or to search the available properties there go to:  http://melvinpetersteam.idxbroker.com/i/Southern%20Highlands

Local Realtors Discuss Investing in Las Vegas, REITs & Hedgefunds

(702) 900-1238 Top producing real estate agents, Melvin and Peters, talk investing in Las Vegas. The REITs (real estate investment trusts) and hedge funds invested hundreds of millions of dollars in the Las Vegas real estate market between 2009 and 2012.  The question is are there still some values available for the small and individual investors to buy that make financial sense?  The answer from the real estate experts is YES. Contact the team by going to The Melvin-Peters Real Estate Team website.

The question is answered by these top agents. YES, we have investors shopping the market every day and finding great values for both holding and flipping. They come up on the residential  MLS everyday.

The Melvin Peters Teams just sold two different types of property this past week.

1. The first was a fixer-upper which sold for $355,000. 3,800 sq ft on half an acre, 6 car garage, pool, huge lawn. The investors will drop between $110,000 and $140,000 into this property and it will be back on the market at around $725,000 in three months or so. 

2. Another home, in a much different neighborhood, sold the first day on the market for $105,000. It's 2,200 sq ft and in need of $5,000 to $10,000 for a face lift. It will likely come back on the market at $149,000 or so for a quick sale.

Both of these properties were good purchases for the buyers and the sellers that just sold them. Because the buyers are experienced and have the know how to both evaluate and rehab the property in short order, it will be profitable for them and the ultimate end buyer will get a completely rehabbed house. It's a win-win-win!  Interested in getting in the game, contact the Melvin Peters Team by submitting you contact info.

Las Vegas Professional Baseball - The Las Vegas 51s - A New York Mets affiliate

(702) 900-1238 Matt Peters, graduate of New Mexico State (via a baseball scholarship), discusses how cool it is to have a professional baseball team here in Las Vegas, Nevada. The Las Vegas 51s are the triple A affiliate to the New York Mets. Peters says you can see the players going up to the bigs from here... Very exciting. Catch a game while you in Las Vegas. To speak with Matt and search for real estate in the Las Vegas market.

Las Vegas Luxury Hise Rise Update with Realtos Melvin-Peters

(702) 900-1238 The Melvin-Peters Real Estate Team with Keller Williams Realty Southwest touts the high rise market in Las Vegas along the north end of the Las Vegas Strip. There are approximately 500 units available in town says Peters and about 280 have already closed this year (first 5 months). to search the Las Vegas MLS for high rise click this link 

Southern Highlands Homes in Las Vegas see sales spike!

(702) 900-1238 Southern Highland Homes sales spike. The first half of 2014 is closing strong for the southwest area neighborhood.  The Melvin Peters Team pay close attention to the Southern Highlands community and have their finger on the pulse of the market there. For a complete MLS search of the Southern Highlands community click here.

The Melvin-Peters Real Estate Team offers full service to those interested in the Las Vegas/Henderson communities. Simply click on the link to their website and take a look at all they have to offer.

First Time Home Buyers in the Las Vegas Real Estate Market with Melvin-Peters Team

(702) 900-1238 First time home buyer tips and a quick overview of exactly what takes place in the house buying process here in the Las Vegas real estate market. Melvin suggests that you work with a professional, an agent you feel comfortable with, to start your search and get pre-approved for a loan. 97% of all buyers begin their search online. Go here to search the Las Vegas MLS.

When meeting with Matt Peters he will explain that finding the right home is only a piece of the entire process. There are typically between 6,000 and 7,000 homes on the market at any one time throughout the Las Vegas and Henderson valley.  So, while locating the right neighborhood for you is a fair amount of work, it's really only the beginning of the entire process.

First time home buyers should have their "approval letter" in hand or their real estate agent should have a signed letter on the lenders letter head which clearly states that the buyers has been "underwritten" and approved for X amount of a loan, subject only to the appraisal of the home selected. This give the buyer such an advantage in the market and, often times, can save the buyer thousands of dollars in the home buying process.

Matt and JC say that a home inspection by a licensed professional is a must. This provides a look into the integrity of the structure and systems in the home. For two to four hundred dollars it is a worth while investment which should not be overlooked. 

In the meantime, an escrow is opened with an independent third party who is licensed and bonded by the state. For those moving here from the east coast and from parts of the mid-west where you're used to using attorneys to escrow your real estate transactions, it's a little different as Nevada and the entire Las Vegas and Henderson area are part of an "escrow and title" state. We strongly recommend that you escrow with one of the title companies. All of the title companies offer escrow service.   

Finally, the walk thru inspection. This is simply to make sure that nothing has changes since you first looked at the house. It is not to nit pick the paint or minor issues that existed at the time you first viewed the property.

From here, escrow is instructed to close and they record the deed into the new buyer's name!

Congratulations. Remember, moving and buying a new home can be a stressful experience so try and take a deep breath and enjoy the process. 

Las Vegas Realtors Talk "The Home Inspection Process" and the Walk Thru prior to close

(702) 900-1238 Melvin and Peters discuss ALL the necessary inspections which are considered standard when purchasing a home in the Las Vegas real estate market. There are a number of inspections that all buyers will want and then maybe additional inspections depending on the age and condition of the property.For more information on these issues contact  The Melvin-Peters Team.

The fact is that, especially for the first time home buyer, there is so much to purchasing your first home that it's easy to miss things. The truth is that when you are buying a resale home, one that has been lived in before, there is going to be some wear and tear on the home. While we cannot expect the seller to rebuild the home to a "brand new" condition, we do want to know what, if any, the issues are with the home.

For example, if the home is 15 or 20 years old what condition is the air conditioner in? does the inspector have an opinion as to the remaining life of the air and/or heating unit(s). What general condition is the roof in?

A tip for those of you buying in a super hot climate, like Las Vegas, regarding flat roofs is to always get a roof inspection.  Just understand that flat roofs in super sunny climates will need to be replaced from time to time and there is almost no way around that. It's not a bad thing or the reason to stay away from a condo, townhome or single family home with a flat roof as long as you are aware they require more maintenance that a pitched roof.

Other major concerns that will come up in a home inspection is the condition of the foundation and the pool and spa if there is one.

Most of the items that come up in an inspection are minor in nature and don't require much to fix or maintain. 

It's important for the buyer to understand that the reason for all the inspections is NOT to nitpick the home but rather to make sure there is not problem with the BIG issues such as the foundation, roof, electrical, plumbing or structure of the home.. 

You're always welcome to click on our "I know a guy" web page to get a referral to an inspector or contractor for work, inspections or repairs on your home. 

The bottom line say Melvin and Peters is to get inspections done during the due diligence period (when you first open an escrow) and satisfy yourself as to the overall condition of the property.

When you're ready to search for your Las Vegas or Henderson home go to Search Las Vegas MLS for my new home.