Las Vegas Realtor Steve Harless - RE/MAX EXTREME 702.217.1680: December 2007

"You look at those numbers, and you can see that things haven't changed all that much," Kritzas said. "That's not the case in other parts of the country, Florida and Las Vegas, for instance. A lot of people bought property there on spec and there was a lot of over-development."

 "People come in and expect to go below the asking price. That's not realistic," she said. "There are good deals out there. People need to do their homework, study their neighborhood and prices in the area.

 I am posting this for an associate from Kansas City:

30%LTV Distressed Properties   Introducing Bulk Properties the way it should be done. We have access to hundreds of bulk distressed properties available starting at 30%LTV, and will never be more than 35% LTV. These properties are located in the Kansas City Metro Area, and will need anywhere from 15-30K worth of work, leaving an estimated 35-50% Equity, upon completion. Minimum number of properties needed to qualify at the 30% LTV rate is only 10!!  Will consider further discount for substantially larger orders. These homes will be inspected prior to making them available to anyone, and all properties will have pictures available upon request. Furthermore, all properties will come with a completed list of repairs needed, and estimated cost to make those repairs, as well as a completed spreadsheet breaking down the true numbers.

Las Vegas Does.... Talk about convenient, as a realtor, when clients ask about certain areas of Las Vegas you are not allowed to steer, or say negative comments about certain areas of town or high crime locations. Now I just tell my clients to check for themselves with this convenient CRIME MAPPER. is'nt this the neatest tool! If you love a certain area of town, you can now do your own homework before you buy! I LOVE THIS TOOL!

 Does Your City Have Crime Mapping Online Capabilities?

Check out my yahoo real estate group! We now have over 254 members!! Join today!

Sponsored by Las Vegas Real Estate Agent Steve Harless - Realty World Luxury Homes Of Las Vegas. This group is for Buyers, Sellers, Investors interested in the Las Vegas Real Estate Market. All Las Vegas real estate related professionals ( title and escrow companies, financial services etc...) are invited to join this group *All statements presented here within are of opinion in nature. For qualified, legal information, please consult the appropriate professional (accountant, lawyer, etc.)

If you have had your home on the market for several months and haven't seen much activity or any offers, chances are that one or more of the reasons below are to blame.

Your price is too high

No doubt about it, the most common reason for a home not selling is that the asking price has been set too high. The reasons for setting your price too high to begin with are many. Ranging from over enthusiastic listing agents to unrealistic seller expectations. Regardless of the reason though, if you've priced your home too high, you've set yourself up for a number of obstacles to selling your home. Even if you do get an offer for the overly high asking price, the deal may fall apart before closing because the buyer may have problems financing at too high a price. Look at other homes for sale, ones as similar and as close to yours as possible. If they are going for less than you are asking, you may be priced too high.  The fact is, your home is competing against those other homes, and what buyers are willing to pay is what will determine final sales prices.

The condition of your home

There is a lot of competition out there to sell homes.  Your home has to compete against other similar homes for sale, as well as competing against shiny brand new homes.  The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale.  Look at your home with a critical eye - put yourself in the buyers position.  A buyer doesn't want to have to do anything except move in.  Your best "bang for the buck" in improving the condition of your home are paint and flooring.  Make sure that all of the paint is in great condition, both inside and out.  Repainting doesn't cost too much, and will usually make the biggest impact on buyers.  Make sure all of the flooring looks good too.  You may want to consider putting in new carpet.  Again, it's not that expensive but it sure does make an impact on buyers coming to look at your home.

Location, location, location

It's the oldest cliché in the world, but it's true.  When it comes to real estate, it's all about location!  When it comes to homes, things like how good the schools are, crime rates, visual appeal of the neighborhood and noise or the smell of pollution can all effect how desirable the location is.  If you're in a bad location, a good real estate agent may help to minimize some of the impact by suggesting improvements to the house.  But the only really reliable way to overcome a bad location is with a lower price.  Simply put, an identical home in a bad location won't sell for as much as the same home in a better location.

Your marketing campaign is out of steam

The best listing agents all use an aggressive marketing plan to market their listings.  If your listing agent isn't making sure your home can be found easily on the internet, isn't actively touting his or her listings to other agents in the area, isn't running ads in the local newspapers and real estate publications, then it might be time to change agents.  The best agents might even run radio or television ads for their listings.  If all your agent has done is put a sign in your front yard and add your home to the local MLS, then that agent isn't coming close to doing all that can be done to effectively market your home.

The market is slow

You'll hear it described as a slow market, or a buyers market, or maybe a cold market.  But it all means the same thing.  That home sales in the local area, or market, are slow.  That there are too many homes for sale and not enough active buyers.  There are several things you can do to combat a slow market.  The most effective strategy is to sell at a lower price.  Buyers are expecting to find bargains during a slow market.  You can also help yourself by offering to pay some concessions to help a buyer that might not have a lot of cash.  The ultimate way to beat a slow market is to simply wait it out.  But that's not always an option for many sellers.

Your home isn't easily accessible

To get your home sold quickly, it's important that other agents in the area show it to as many potential buyers as possible.  When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first.  Many homes on the market have "lock boxes" on them.  The lock box is a device which holds a key to the home, that only qualified local agents can access.  Homes that are listed as being "lock box, no appointment needed" will get shown more often than homes listed as "agent has key, call for appointment".  If at all possible, you should let your agent put a lock box on your home for easier showing.  If not, you should do anything else you can to make it as convenient as possible for agents to show your home. 

Here is an interesting post I read tonite on my yahoo blog.....

Indeed, since there were nearly 10 million tax default parcels at the
5000+ sales in the U.S. this year from tax year 2006, there is no
reason to believe that next year won't see closer to 20 million, since
this year has been much worse for the real estate market than last.

A lien on a home was sold in
October at a Las Vegas Tax Sale for under $8000. The interest on that
lien is
12%, but the chance of 1 in 50 that it won't be redeemed, the deed to
that $300K home means that adding that $6000 value chance at a deed to
the 12% p.a. interest means the real return on that one lien is
worth 85% combined return.

This past year, I have never seen in 15 years such high quality
property going on
the local tax sales. The quantity was over five times the numbers
just 2 years ago and the quality went up as much also.

As far as I know, there is no other fund positioned to take advantage
of this bounty than mine. www.sunriseholdingtrust.com

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