Breton, Blasko & Associates
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Welcome to your one-stop source for Las Vegas real estate services. This website contains valuable, up to date information about the Southern Nevada cities of Las Vegas, Henderson, and North Las Vegas. On this website you can research information about the latest Las Vegas high rise condo or mid-rise project, new condo or townhome developments, new masterplanned communities, and existing communities throughout the greater Las Vegas area.
Buying Las Vegas real estate? When looking to make a Las Vegas real estate purchase, it's important to work with an experienced Las Vegas real estate agent who knows the area and will go above and beyond to find you exactly what you're looking for. This site contains valuable information for areas within Las Vegas, North Las Vegas, and Henderson. With so many great communities to reside in, it can sometimes be overwhelming when looking for your first home, a new home, or your next investment. Search for Las Vegas homes in planned communities such as Providence, Summerlin, Rhodes Ranch, Green Valley, Southern Highlands, Mountains Edge, the Lakes, Aliante, Spring Valley, Red Rock, Tuscany, MacDonald Highlands, and Anthem or search the MLS for available Las Vegas and Henderson homes for sale in other various communities. Visit our Local Resources page to find school & community reports, local news & weather, services, home improvement, entertainment, and much more!
Selling Las Vegas real estate? If you already own real estate in the greater Las Vegas or Henderson area and are looking to sell, you have come to the right place. We charge a 4.5% TOTAL real estate commission on all standard transactions and have the resources to get your property the exposure you need to get your Las Vegas real estate sold fast! With the majority of buyers researching Las Vegas homes on the internet before they even contact a real estate agent, it's important to get the maximum amount of internet exposure possible. We market our listings on at least 10 major internet sites as well as dozens of smaller Las Vegas real estate search sites. Request a free CMA or Contact Us for more information. We are dedicated to providing all of our clients with superior service by being honest, knowledgeable, and easy to contact. Learn About Us.
The Ever Shrinking Las Vegas Housing Inventory:
GLVAR has released their "official" numbers for January 2010 and the Monthly updated graphs are attached for your use. They are in Excel format so you can customize with your information.
Of significant interest is the total SFR sales volume for January 2010 which was 2,608 sold units. Though this is a significant decline from December 2009's total of 3,420, (a -23.7% decline), but reflects a significant increase over the prior Januarys from 2005 to 2009 by comparison.
January 2010's total is a 17.3% increase over January 2009, and a remarkable 165% increase over January 2008's total SFR units of 983. When viewed graphically on the attached charts spanning the 2005 - 2010 tracking period, this is a great start to the 2010 year.
On the Average Sales Price chart you will find that the January SFR average price remains steady for another month at a reported $164,687, This is -11.7% against January of 2009, but, again when viewed historically on the attached monthly graph, the average price has fluctuated within a very narrow range since last April's reported average SFR sales price of $166,196. When compared to the dramatic average SFR price declines of 2007 and 2008, this steady average is far better.
The total hme sales dollar value (SFR) for January was $429,504,961. This is a 3.5% increase over January 2009.
SFR 'available' inventory (excluding pending and contingent units) stood at 8,107 units at the end of January.$8000 Home Buyer Tax Credit for 2009!
As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.
Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.
Nationwide, more than 1.4 million first-time home buyers were given the opportunity to become homeowners as a result of the Federal Tax Credit for First-time Home Buyers. It is expected that this number will increase dramatically in the months ahead with this new legislation in place.
For more information or specific guidelines, please contact your accountant or a qualified tax person.
HUD waives FHA flipping rule!
Big news for all you Las Vegas home investors and first time buyers looking for a turn key property without the hassles of dealing with a bank. In an effort to expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties, HUD has announced a temporary waiver of the 90-day flipping rule. The waiver takes effect February 1, 2010, and lasts for one year, unless otherwise extended or withdrawn by HUD.
The waiver is limited to those sales that meet the following conditions:
1.All transactions must be arms-length, with no identity of interest between the buyer and seller or any other parties participating in the sales transaction, including:
•Seller must hold title
•LLCs, Corporations and trusts must be established in accordance with state and federal law
•No evidence of previous flipping within 12 months
•Evidence that property was marketed openly, such as via MLS, auction, FSBO
•The waiver is limited to forward mortgages and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program
2.If the sales price of the property is 20% or more above the seller’s acquisition cost, the waiver will apply only if the lender meets the following conditions:
•Significant work has been done to the home (documented by a second appraisal verifying that legitimate repairs and rehabilitation have been done to substantiate an increase of more than 20%); or,
•In cases where no work has been done, the appraiser must provide explanation to support the increase since the prior transfer; and,
•A property inspection must be provided to the buyer prior to closing. (The lender may charge the borrower for the inspection.) The inspector does not need to be FHA approved, but must have no interest in the property, must not receive compensation other than from the lender and may not be involved with the repairs recommended from inspection.
The complete text of the waiver — including what the inspection must include — is available on the HUD website at: http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf
Changing the Face of the Strip - City Center Las Vegas is the newest concept to come from the masterminds of the MGM Mirage Resort and Gaming Group. This massive project incorporates 6 unique buildings found on 76 acres of land located “center strip” on Las Vegas Boulevard. Each of the 6 City Center Las Vegas buildings is unique in design and style as well as function. This diversity will appeal to visitors of Las Vegas looking for a weekend get away as well as buyers looking for a classy Las Vegas condo. On track open in late 2009, City Center Las Vegas resort and gambling destination as well as its Las Vegas high rise condos for sale will be like no others before.
Each of the 6 City Center Las Vegas buildings is being consciously designed and built with environmental sustainability in mind. The goal of these designs is to achieve the U.S. Green Building Council’s LEED, (Leadership in Energy and Environmental Design,) certification. This will be the first “green housing” in Las Vegas of its kind. Each of City Center Las Vegas resort...READ MORE!
Now is the time to buy Las Vegas homes - Interest rates are at historical lows and experts and economists agree that rates are unlikely to fall much farther for fear of inflation. Although it is unclear when rates will begin to rise, many potential buyers are investing in Las Vegas homes for sale and taking advantage of these low rates which effectively lower the cost of purchasing of home.
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