Las Vegas Economy Boost Foreshadowed by Latest Confidence Rise

On December 31, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Las Vegas Economy Boost Foreshadowed by Latest Confidence Rise Las Vegas’s economy, like all others, is largely dependent upon consumers doing what consumers are supposed to do: buy! Why they make their decision to behave or not is every bit as complicated as you would suppose. It’s the product of how their own careers are […]

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Las Vegas Economy Boost Foreshadowed by Latest Confidence Rise

Las Vegas’s economy, like all others, is largely dependent upon consumers doing what consumers are supposed to do: buy! Why they make their decision to behave or not is every bit as complicated as you would suppose. It’s the product of how their own careers are faring; how the greater economy (and the economy in Las Vegas) are doing; even how the world economy is behaving—or seems likely to behave anytime soon.

In all of this, the hard facts about how the economy is actually doing are not just backward-looking, they’re also slow to arrive. Worse yet to those who think numbers should mean something definite, the numbers are frequently recalculated later. The latest ‘jobs’ numbers or the ‘housing starts’ numbers, when they are announced, are often accompanied by a statement that the previous quarters number has been “revised to” x. If you are a local business person who makes projections based on the best information available, that wouldn’t be the new number—it would be the previous, now revised number: very old information.

There is one way around this, though, and that’s fortunate. Everybody has the same reliability and timeliness problems, yet have to have some basis for making discretionary spending decisions. The usual solution is to rely upon measurements not of the actual economy’s activity now or in the past, but of what most people expect that activity to be in the future.

Yes, that kind of measurement is ‘soft’—opinion, rather than hard data. But if those expectations are widely publicized, they affect what actually comes to pass. If consumers are bullish on the future, well, that’s reassuring news! Las Vegas businesses are encouraged to stock their shelves. People are more likely to list their Las Vegas homes for sale. The local economy looks better and better! On the other hand, if consumers are depressed about the future, caution will prevail. Businesses will hold off on new hires and trim their inventories. You can’t be too careful, after all. To some degree, consumer expectations often become self-fulfilling prophesies.

That’s why December’s latest consumer confidence reports are the best news for the future of the economy we’ve heard for some time. Last week, Reuters ran the headline, “U.S. Consumer Sentiment at Eight-Year High”; the Business Insider, “Consumer Confidence Crushes Expectations.” Reuters attributed the burst of citizen optimism to “improved prospects for jobs and wages, and on lower gasoline prices…”

The University of Michigan co-sponsors the index upon which the numbers are based, which showed December’s reading of consumer sentiment at 93.8, “the highest reading since January 2007.” That was a full 4 points above the median that had been previously forecast by 70 economists. It was also 5 points higher than the final reading for November.

If the Las Vegas economy perks up as anticipated, area real estate watchers should expect a noticeable uptick in activity—particularly if mortgage interest rates stay low, and inflation remains a non-factor (the same survey pegged consumer inflation expectations at 2.9%).

If you are a Las Vegas homeowner or prospective buyer with an equally upbeat outlook, it’s good reason to give me a call to discuss how your plans dovetail with a rebounding market!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

Who, What to Tip: Holiday Guidance for Las Vegas Homeowners

On December 29, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Who, What to Tip: Holiday Guidance for Las Vegas Homeowners At holiday time, Las Vegas homeowners can count on being flooded with decisions. For everything from the extent of front yard decorations to the menu decisions for family gatherings, more than anything, ‘tis the season for organization and planning. Homeowners have done their best to […]

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Who, What to Tip: Holiday Guidance for Las Vegas Homeowners

At holiday time, Las Vegas homeowners can count on being flooded with decisions. For everything from the extent of front yard decorations to the menu decisions for family gatherings, more than anything, ‘tis the season for organization and planning. Homeowners have done their best to minimize the likelihood of travel-related scheduling emergencies—never mind the weird weather patterns that make that a coin-toss. They’ve either succeeded or failed in syncing their gift-shopping to take advantage of sales—although this year, 1-day sale announcements seem to be popping up and disappearing as fast as Whack-a-Moles. 2014’s calendar also reduced the number of days between Thanksgiving and Christmas, so there’s been less time to get everything done…

Given all that, Las Vegas homeowners can scarcely be faulted if they haven’t given a lot of thought to holiday tip giving: who, how much…the usual conundrum. I thought I would do some current research and offer everyone some guidance, but I should warn you: I didn’t find much.

I thought the answer would lie with Dr. Wm. Michael Lynn, the tipping universe’s reigning academic expert. In case you never suspected there was such a field, you should know that Dr. Lynn is the Burton M. Sack Professor at Cornell University. Although, technically, Dr. Lynn’s professorship is in “Food & Beverage Management” (and before the holidays are over, some Las Vegas homeowners may wish they’d paid more heed to their own personal beverage management), his most important work has been on the subject of tipping.

Unfortunately, when I delved into some of his thoughts so I could share them with Las Vegas homeowners, what I found turned out to be a little more technical than expected. I’d hoped to find something like “hairdresser: cost of a session” or “babysitter: hourly rate x 4” — some cut-and-dried guidance like that. Instead, I found research papers on topics like the relationship of tips to waiters’ and waitresses’ shirt colors (wearing a black and white shirt gets better tips than red); whether religious people are poor tippers compared with less religious people (not really, unless the service is really bad); and how the desire for social approval motivates tipping of car guards in South Africa (I’m still not sure what a ‘car guard’ is).

Undoubtedly these insights are valid, but don’t provide Las Vegas homeowners with much useful guidance. With time running out, I turned for help elsewhere, and did eventually emerge with some vague but welcome suggestions, mostly from Emily Post and the Chicago Tribune:

  • Grade school teacher: holiday gift (something thoughtful; a nice card will do)
  • Doctor, lawyer, accountant: skip entirely
  • Newspaper deliverer: $15-$30 (remember, this comes from the Trib)
  • Housekeeper/Cleaner: Up to amount of one week’s pay and/or small gift
  • Gardeners, Trash collectors, all the rest: advice varies from $10-$50!
  • Babysitter: One evening’s pay and a small gift from the child/ren
  • Butler: pay close attention to reruns of Downton Abbey

But finally there was truly useful advice offered by a psychologist in the Midwest. She pointed out that holiday gratuities are never mandatory; they’re appropriate when you find them to be so, and gift or cash, the size is what makes you (and the recipient) feel comfortable.

I like that advice…and what a great time of year for us to hear it! In the same spirit, I hope you and your family find in 2014 the warmest, most wonderful holiday season ever!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

Lease-Option: a Las Vegas Rental Investment Owner’s Alternative

On December 28, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Lease-Option: a Las Vegas Rental Investment Owner’s Alternative Suppose your Realtor® helped you land a prime Las Vegas rental investment property—and you’ve been more than content with the result. Your longtime tenant proved to be conscientious and dependable, with resulting passive income that has been quietly building your bank account with very little oversight from […]

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Lease-Option: a Las Vegas Rental Investment Owner’s Alternative

Suppose your Realtor® helped you land a prime Las Vegas rental investment property—and you’ve been more than content with the result. Your longtime tenant proved to be conscientious and dependable, with resulting passive income that has been quietly building your bank account with very little oversight from you. In short, your Las Vegas rental investment has made you a very happy landlord.

But now, that smooth sailing may be nearing an end.

Your tenant rings you up with the news. Even though she loves the house, over Thanksgiving dinner her brother convinced her she should become a Las Vegas homeowner herself. Since she doesn’t have quite enough cash to qualify for a home loan, he told her she should go out and find a rent-to own property. But since she’s content with the house she’s been living in—your rental investment—she wonders if you’d like to discuss switching to a lease-option arrangement?

If you had ever contemplated cashing in on your rental investment, there are several reasons you might want to give it some thought. First, this would spare you the effort and expense of selling. You won’t have to wait for an interested buyer—and you know from experience that your tenant is a solid citizen. Furthermore, whenever you put a rental investment property up for sale, there can be complications if you want to continue to rent it—sometimes a tenant resents having to accommodate strangers tramping through their home. Worse, they may even subtly sabotage showings.

Although there is no single formula for how a lease-option (aka ‘rent-to-own’) agreement is constructed, some basic underpinnings are common. The landlord retains ownership and the tenant pays rent until the option to buy is exercised. Both agree on the sale price and on the specified period of time by which the sale must be completed (usually the time the tenant estimates will be needed to qualify for a mortgage). As compensation for your agreement to refrain from selling the property to anyone else during this option period, the tenant usually pays either an up-front fee or agrees to a higher-than-market rent. Some of that overage may be set aside to be applied to the ultimate purchase. Property maintenance is often made the responsibility of the tenant, along with provisions in case he or she fails to maintain it properly. And a number of other issues may be addressed.

But if the tenant does not exercise the option to buy within the specified timeframe, typically no refund is owed—the option lapses, and since the deed has always remained with the investment property owner, it becomes free to be rented or sold to another party…that is, if all local and state laws have been scrupulously observed—and all other conditions met. In other words, if ever there were an agreement that cried out for a trusted lawyer’s oversight, this is it!

Offering a lease option on your rental investment in Las Vegas is just one possibility when you’ve landed a choice property (which is where I come in). If you’re considering selling your Las Vegas investment property and would prefer a more traditional route, call me today!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

What Improvements Add the Most Real Estate Value?

On December 24, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

What Improvements Add the Most Real Estate Value? “The best real estate value in Las Vegas!” is certainly a little bit over-the-top when it’s used in a listing, but in truth, that’s pretty much what most prospective homebuyers in every price range actually hope to find. For homeowners planning to list their own Las Vegas […]

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What Improvements Add the Most Real Estate Value?

“The best real estate value in Las Vegas!” is certainly a little bit over-the-top when it’s used in a listing, but in truth, that’s pretty much what most prospective homebuyers in every price range actually hope to find. For homeowners planning to list their own Las Vegas homes, it’s good to keep in mind. When home improvement projects are going to be part of the preparations, adding real estate value without inflating the asking price is a goal worth pursuing.

Since there are so many improvements that could add to a Las Vegas property’s real estate value, comparing how they have fared recently when it comes to the bottom line is worth doing.

The Home Office: Myth?

Home office conversions haven’t appeared near the top of major Return On Investment (ROI) analysis lists for very long, so their performance is ambiguous. According to the yearly “Cost vs. Value Report” by Remodeling magazine, home office remodel projects don’t even break the 50% ROI mark. That’s a precipitous fall from earlier projections. I would guess the reason is that the analysts pegged the average cost at $28,000—but with the proliferation of laptops, tablets, and home Wi-Fi, why should a home office cost that much? (As a side note, it’s probably a reasonable guess that the same technological progress has incrementally lessened consumer demand for designated home offices).

Cost Matters in the Kitchen

The kitchen remodel is what most people picture when they think of big home improvement projects, and rightly so. But it’s here that planning pays off: not all kitchen upgrades register as equally good real estate value boosters. The kitchen is already the most complex room in your home, and it’s also a place where you can spend a fortune on fancy appliances and sleek cabinet replacements. The numbers don’t lie: when it comes to kitchens, your best ROI comes through limited budget-conscious projects. Leaders in cost recouping: new sinks, replacement counters, and highly targeted improvements like backsplashes.

Energy-Saving Doors = High Value

Replacing the front door with an attractive, energy-saving variety remains the top dollar-for-dollar investment. It makes sense when you remember how important curb appeal is. A properly insulated and sealed door will also save money by cutting down heating and cooling bills—savings that show up in utility bill receipts when you’re queried on the cost of running your home.

Before you hit the hardware store or call a contractor, remember that maximizing the real estate value return is the ultimate goal. Some home improvement projects won’t add as much value as one might assume, which is why I keep an eye on the latest cost vs. value reports—and share them with my clients!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

 

Energy Prices Drop; Las Vegas Homeowners Cheer

On December 23, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Energy Prices Drop; Las Vegas Homeowners Cheer Just about the last thing Las Vegas homeowners expect is for the price of something we use every day to drop precipitously. It isn’t just that we’ve grown skeptical about the way official inflation numbers are formulated (although we have). It’s simply that when it can cost more […]

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Energy Prices Drop; Las Vegas Homeowners Cheer

Just about the last thing Las Vegas homeowners expect is for the price of something we use every day to drop precipitously. It isn’t just that we’ve grown skeptical about the way official inflation numbers are formulated (although we have). It’s simply that when it can cost more than a dollar for a Coke, we’ve drawn our own conclusions. To quote The Wall Street Journal’s front page last Tuesday, “Basic Costs Squeeze Families.”

So it’s been slightly disorienting to experience what has been happening with energy prices in Las Vegas. It’s not your imagination—as you drive past the neighborhood gas station, the prices on the sign really have dropped nearly 30¢ a gallon over the past month or so. As December began, prices from coast to coast were at their lowest since December of 2010. And home heating oil prices were following suit, leaving one to wonder if electricity and natural gas couldn’t be far behind.

Las Vegas homeowners should be among the most pleasantly surprised, for a number of the reasons pointed out last week by Molly Boesel in an Insights blog titled “An Unexpected Windfall.” Ms. Boesel is the Senior Economist at CoreLogic, and like any card-carrying member of the economists’ trade, was able to draw up a number of graphs and charts to bolster her point—which was that lower energy prices might well stimulate housing demand. It’s not just that more money remains in drivers’ and homeowners’ wallets as gasoline and heating/cooling expenses sink. There is another less obvious factor.

That factor is VMT (Vehicle Miles Traveled) per capita, and there seems to be a strong relationship between it and homeownership rates. The logic is that as prices for gasoline and diesel remain low, homebuyers are encouraged to move further and further from urban cores (or wherever their jobs are located)—out to where they can buy bigger and more expensive homes. If that sounds like a bit of a leap, history suggests otherwise. VMT per capita rose steadily alongside the increase in homeownership rates from 1994 to 2004; after which “the trend then reversed from 2005 to 2014, with homeownership rates and VMT per capita falling back to 1994 levels.”

So the possibility exists that if the present energy price levels remain low (more precisely, if future homebuyers believe that’s likely), it could “incent buyers to again” move to larger and more expensive Las Vegas digs, heedless of how far their personal commute becomes. It increases the number of potential Las Vegas homebuyers.

If common sense tells us, “wait a minute-what about the effect of the housing bubble burst?” Ms. Boesel has an interesting take. She points to an earlier working paper (2012) by three researchers entitled “How High Gas Prices Triggered the Housing Crisis: Theory and Empirical Evidence.” That title was enough to keep me from actually reading it—I was content to just ponder the idea that it was gas prices—not big-time financial manipulations—that caused all the trouble! Leave it to economists to come up with that one…

At any rate, for Las Vegas homeowners musing about what they can expect when they put their homes on the market, the possible effects of lower energy prices has to be heartening. Not to mention, another good reason to give me a call to discuss Las Vegas’s current real estate market!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

Buying a Home in Las Vegas: Retirement Myths Abound

On December 23, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Buying a Home in Las Vegas: Retirement Myths Abound That housing needs change as people get older goes without saying. For Las Vegas Baby Boomers, the “getting older” concept has gradually morphed from the distant abstraction it seemed in the 60’s and 70’s to a more immediate concern. And of all the decisions that will […]

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Buying a Home in Las Vegas: Retirement Myths Abound

That housing needs change as people get older goes without saying. For Las Vegas Baby Boomers, the “getting older” concept has gradually morphed from the distant abstraction it seemed in the 60’s and 70’s to a more immediate concern. And of all the decisions that will have the most impact on those nearing their golden years, buying the right Las Vegas home—one that makes the most sense for the future—tops the list.

Boomers have heard and read much advice about buying a home; advice having to do with downsizing, mobility issues and the like. Most of it is cautionary…and not very cheerful. But suddenly weighing into seniors’ “buying a home” deliberations is a contrary point of view: one that many of them have apparently begun to suspect on their own. It’s news that could be of considerable importance, not only for their own age group, but for younger adults as well:

Growing older doesn’t seem to be nearly as dire as everyone has been led to believe.

Last Monday, “Why Everything You Know about Aging is Probably Wrong” led The Wall Street Journal’s special insert on planning and living “in the new retirement.” Its lead article dissected the most common preconceptions Americans have about aging, including the expected declines in mind, body, productivity, and stereotypes of growing loneliness and depression. “Everyone knows that as we age…life becomes less satisfying and enjoyable,” the Journal reported…followed by what a wide range of research shows: “Everyone, it seems, is wrong.”

Among the scientists quoted was the former director of a Baltimore study that has been underway for three decades. Of the widespread notion of the aged as being depressed, cranky, and irritable, etc., he says they constitute no more than 10% of the older population. The remaining 90% are “not like that at all.” Another Stanford study showed that as participants aged, their moods improved!

This may or may not change how we approach buying a home for our latter years, but to the extent that it’s a 180-degree reversal from what most of us have always believed about what to expect next, it should warrant at least a thoughtful examination of how we choose.

  • Common wisdom: Downsizing. Baby boomers who stay in large houses are probably spending more money than necessary; cleaning unused rooms may be too physically taxing, etc.
    Second thought: “Extra” rooms may be needed to accommodate new hobbies, visiting children and grandkids.
  • Common wisdom: Mobility. Must be a single-level home; mobility issues are paramount.
    Second thought: Stairs provide regular mild exercise; greatest threats to physical well-being are inactivity (and over-exercise).
  • Common wisdom: Budgeting. A budget showing exactly how much can be afforded when renting or buying a home is critical. It should include taxes, insurance, maintenance, and other expenses.
    Second thought: No research changes this one: buying a house in retirement should always be based on solid budget realities.

Whether you’re retirement-bound, buying your next Las Vegas home sets the table for the coming years in so many ways it’s vital to base your selection on reality rather than myth. Once you’ve set your course, I’m standing by to help find your dream house in all the many ways that I can put at your disposal.

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

Reverse Mortgage Rule of Thumb—Look before You Leap!

On December 18, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Reverse Mortgage Rule of Thumb—Look before You Leap! You’re at home in Las Vegas, watching TV and trying to unwind, when all of a sudden here comes another baby boomer celebrity, looking into the camera, giving you his most sincere, trustworthy look, then assuring you that a “Reverse Mortgage” really isn’t too good to be […]

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Reverse Mortgage Rule of Thumb—Look before You Leap!

You’re at home in Las Vegas, watching TV and trying to unwind, when all of a sudden here comes another baby boomer celebrity, looking into the camera, giving you his most sincere, trustworthy look, then assuring you that a “Reverse Mortgage” really isn’t too good to be true (even though it sounds like it is).

What could be better? Any Las Vegas homeowner 62 or older can apply: then the bank pays you instead of the other way around! You could even use part of the tax-free proceeds to pay off the other mortgage! Or go to Monte Carlo and break the bank! (The trustworthy celebrity only hints at that one). You don’t have to pay back the loan until blah blah blah, the property remains yours, etc. etc. etc. What could go wrong?

Short answer: quite a lot, actually.

Long answer: if you don’t plan for the long term consequences, this can be a potentially disastrous maneuver. As a quick and painless way to raise cash, it often is too good to be true.

For openers, the actual name of this loan is not ‘reverse mortgage’— it’s an HECM, Home Equity Conversion Mortgage—a much more descriptive name. It allows 62+-year-olds to ‘cash out’ the equity they’ve built in their Las Vegas home. Not all of the equity; just some. As soon as they no longer live in the home, the loan must be repaid in full. The problems are all in the details.

Detail 1: Payback

Suppose a husband and wife live in a Las Vegas house owned by the husband. He applies for reverse mortgage, dies 11 years later, leaving the house to his wife. Because the reverse mortgage becomes payable when the mortgagee (the husband) “leaves” the property, the loan becomes due and payable. So the spouse may be forced to sell the home in order to repay the loan. But it’s also possible that the same thing occurs when the mortgagee is permanently relocated to a nursing home.

Detail 2 (and it’s one you really have to take into account): Interest

Most often, no payments are made on reverse mortgages. Unless the trip to Monte Carlo ended well, it’s likely that the balance owed remains. However, interest accrues on the loan at the “prevailing rate”—which may be a misnomer, because reverse mortgage interest rates are often high. Over the long run, the amount owed could eat up most of the value of the house. The spouse could be left with very little to live on.

Details 3,4,5…etc.

While the fees charged for a reverse mortgage are capped by the government, they’re still much higher than those for traditional loans (possibly why the trustworthy boomer celebrity got involved in the first place). Because credit scores aren’t used to determine eligibility, higher fees are charged to help cover lender risk. Then there are requirements for keeping up the property (what if illness causes a temporary lack of attention?), paying taxes on time…and other circumstances that could cause the loan to be called in, forcing sale of the home.

Yes, a reverse mortgage can be a valuable resource for some Las Vegas retirees on limited incomes. However, before even thinking about committing, it’s vital to sit down with a trusted financial adviser. If it turns out that selling or downsizing makes a lot more sense, calling me is the next step!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

One Key Element that Distinguishes a True Las Vegas Luxury Home

On December 17, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

One Key Element that Distinguishes a True Las Vegas Luxury Home When you are selling your Las Vegas luxury home, you are marketing to a narrow niche of the home-buying public. They’re high-end customers, certain to be very smart, business-savvy—and they will know their own mind. They will be hunting for value, of course, because […]

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One Key Element that Distinguishes a True Las Vegas Luxury Home

When you are selling your Las Vegas luxury home, you are marketing to a narrow niche of the home-buying public. They’re high-end customers, certain to be very smart, business-savvy—and they will know their own mind. They will be hunting for value, of course, because the asking price warrants it. But they will also be looking for a property that has elements that are unique—that appeal to buyers who hope to find a residence not duplicated elsewhere.

Because of that characteristic of the market, there can be no one-size-fits-all, cookie-cutter approach that will be uniformly effective as a sales approach. There are, however, a few hallmarks that the most successful Realtors® have discovered are shared by the most appealing luxury homes. They boil down to value, exclusivity…and to story-telling.

The exposure element is the more straightforward. It used to be that the only important element was to be had in print media: magazine, newspaper, brochure and flyer. Still important, today the much wider reach is had through internet and social media. Like all Las Vegas real estate prospects, buyers interested in the current crop of luxury homes are most likely to investigate using at least some online research before scheduling an in-person visit. And what they experience on the web will be influential in how eager they will be to make time for that visit.

It goes without saying that for every Las Vegas luxury home web presentation, the quality of the imagery has to be first-rate—Professional real estate photographers do more than highlight key room features shot from eye-pleasing angles. The best know how to paint with light—to shape viewer experience by selecting the time of day and color of light and shadow that will convey mood. Sometimes a true online video tour, complete with well-produced music and narration tracks, can also be the most effective tool—as long as the online viewing experience is brief, intuitive and easy to navigate. But no matter which medium and format is pressed into service, the goal is always to create a viewer experience that is unique and memorable.

And it should have a story.

That ‘story’ could be anything from an interesting history to a setting or view that is, literally, unique. It can be an overpowering constellation of luxury home features, or a history of owners that includes prominent community or cultural luminaries. It can be standout architectural innovations, landscaping worthy of a Homes and Gardens centerfold, or a layout that just happens to be perfectly well-matched to a particular client’s family—any and all can qualify. The single indispensable part of the mix is that the property’s unique character comprises a story worth retelling. It’s human nature, after all every Las Vegas luxury home buyer, whether they realize it or not, would like to be able to tell friends and colleagues about their new luxury home!

If you have a Las Vegas home with its own luxury story waiting to be told—or if you’re in the hunt for one—I hope you will give me a call!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

The Holidays: Once-a-Year Opportunity for Selling a Las Vegas Home

On December 16, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

The Holidays: Once-a-Year Opportunity for Selling a Las Vegas Home I’m always a little surprised that more people don’t take advantage of the holiday season to sell their Las Vegas home. The spring selling season may be the most popular, but there are a host of reasons why, for a home that is already market-ready, […]

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The Holidays: Once-a-Year Opportunity for Selling a Las Vegas Home

I’m always a little surprised that more people don’t take advantage of the holiday season to sell their Las Vegas home. The spring selling season may be the most popular, but there are a host of reasons why, for a home that is already market-ready, you might think twice about waiting to list it.

Among the leading reasons that make this an especially advantageous time of year to sell a Las Vegas home is the financial motivation for some prospective buyers. Especially when an individual’s financial picture changes toward year’s end, a few prospective buyers find that the tax advantages of a purchase in the current year are reason enough to speed a sudden purchase. Classical supply and demand forces add another reason the decision to sell a home in Las Vegas now could be a good one. Since Las Vegas listing volumes taper off toward the end of the year, the choices are relatively few, increasing the value of each to motivated buyers.

Experience tells us that the average holiday-season buyer does tend to be more highly motivated, if for no other reason than that they are choosing to house hunt over all the other activities the season calls for. In short, this is not the season for lookyloos. There is also the advantage that holiday decorations add. The emotional appeal of a well done (not overdone!) display can augment a Las Vegas home’s underlying curb appeal. Add to that the fact that all of us tend to be a bit more emotional during the holidays, and it wouldn’t be surprising to find buyers more flexible in what they are willing to bid. As every merchant has come to realize, the holidays are shopping days.

For those who will be traveling for the holidays, rather than that being a reason to put off listing, those days can be ideal times to sell your Las Vegas home. The house will be unoccupied, clean and available for showings at any time of day—the perfect situation for turning the otherwise slow holiday season into a standout to those buyers who need a home now.

I will be working throughout, so give me a call if selling your Las Vegas house is an idea that makes good sense. The more available you make your home during the holidays, the more likely you’ll find a buyer during this hectic time of year.

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

Obvious (and Less Obvious) First House Buying Tips

On December 15, 2014, in Gay Las Vegas, by Gay Real Estate Agent in Las Vegas

Obvious (and Less Obvious) First House Buying Tips For Las Vegas renters who are beginning to investigate the possibility of buying a first house, the prospect can look like more than just a steep hill to climb—it can look more like a cliff! Just last month, the Daily Real Estate News cited recent research that […]

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Obvious (and Less Obvious) First House Buying Tips

For Las Vegas renters who are beginning to investigate the possibility of buying a first house, the prospect can look like more than just a steep hill to climb—it can look more like a cliff! Just last month, the Daily Real Estate News cited recent research that indicates in most places (512 counties surveyed, in fact) it can take the average family more than twelve years to save up for a 20% down payment. When you consider the significant financial advantage that a first house brings its Las Vegas owner, the situation seems like a Catch-22. How can you save any faster when that big tax advantage goes only to the existing homeowners?

If a decade-plus wait sounds unreasonable, there’s a lot you can do to trim the delay—

1) (Obvious) Cut excess spending

If you take notes for a month or so about how you really spend your money, you find that the little things really add up: morning coffee, daily lunches, planned and unplanned shopping expeditions all put serious dents in your wallet. Spot the expenditures, you can cut back on, then reduce or eliminate them as soon as possible.

2) (Less Obvious) Create a ‘First House’ account

Create a separate savings account with the single purpose of holding your first house down payment. Watching it grow month by month will more than make up for the inconveniences caused by scrimping on daily and other spending.

3) (Way Less Obvious) Pick up extra work

You may never have considered it, but sometimes moonlighting is a great way to add additional income that quickly build your First House account. If you have a hobby that lends itself to web sales, think of starting a store on sites like Etsy or Amazon.

4) Reduce your current bills

There are those bills that you can’t quite get rid of — cell phone, credit cards and other bills don’t just go away because you’re saving for a new Las Vegas house. For some bills, though, there are options for slimming down your monthly payments. Try negotiating a lower APR or reducing your phone or cable plan.

5) Make (and stick to) a budget

Those notes you made up there on 1) can be the raw material for making a detailed budget that separates necessary expenditures from extras like gifts, trips and special nights out. Find creative ways to entertain yourself and get together with your friends. Hosting movie nights, finding free concerts, and moving cocktail hour to home are all surprisingly doable.

6) Downsize

It may seem counterintuitive: why would you decrease the size of your current digs? If you can temporarily scale back, the lowered rent can materially boost your savings. If it’s at all practical, living with relatives might move the process along even more quickly!

The kind of scaling back that builds for a local first house down payment is a lot more fun if you can see quick progress. And the possibility of qualifying for a smaller than 20% down payment is also currently increasing. Give me a call for a realistic discussion of your own Las Vegas first house purchase!

For more information, please contact Felipe Crook at 1-866-589-1646. You can also start your Las Vegas Home Search HERE!

Felipe Crook
Realty One Group
8395 W. Sunset Rd Ste 190
Las Vegas, NV 89113
1-866-589-1646

 

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