Showing posts with label Las Vegas Investment Properties. Show all posts
Showing posts with label Las Vegas Investment Properties. Show all posts
Friday, January 31, 2014
Searching for Homes has Never Been Easier...
Searching for Homes has Never Been Easier.
Text 1ZRL to 87778 to download your FREE Realty ONE Group Mobile App for 24/7 Access to Las Vegas Real Estate Listings. It puts the Power to search right in your hands. Also, with the touch of a button, you can reach me directly with any Real Estate Questions. Realty ONE Group - Marcelo V Mayol
Sunday, January 26, 2014
Surprising Las Vegas Rental Home Advantage: Allow Pets
Many Las Vegas landlords are automatically less than enthusiastic when they hear a prospective tenant’s question, “Do you allow pets?” Small wonder. The specter of damage from unsupervised four-footed co-inhabitants is a real possibility (despite the assurances of their doting masters).
Yet that kind of automatic landlord reaction might turn out to actually result in a questionable business decision. Some undeniably real benefits can accrue to those who open their Las Vegas rental home to tenants who own pets.
Don’t believe it? Here are just some of the reasons why renting a home to a strong applicant with a well-cared-for, healthy pet can benefit both parties:
2. Respectful Tenants A Firepaw.org survey comparing pet owners with non-animal-owning tenants showed that, on average, damage done to rental properties is about equal between the two groups. The takeaway from that is the biggest surprise: just because pets are living in your rental home in Las Vegas doesn’t mean that the property will suffer. It seems that grateful pet-loving renters just try harder to keep the property in good condition. They do the worrying for you.
3. Higher Rent Renters with pets can be willing to pay some additional rent for the privilege of keeping their furry loved ones with them. Pet-owning renters are not likely to shy away from Las Vegas rental home listings that specifically allow pets — even when a “pet rent” or other fee is part of the bargain.
If you are considering buying an income property next year, I provide resources for my clients every step of the way. I hope you’ll feel free to contact me anytime with your Las Vegas real estate questions.
Marcelo V. Mayol
The Mayol Realty Group
Realty One Group
702-812-9990
www.ShortSaleInfoLV.com
Friday, August 2, 2013
Buying a House in Today’s Exciting Las Vegas Market
Buying a house for the first time! It means you’ll be joining the club: the home ownership club that Americans have traditionally recognized as emblematic of the fullest community membership. It’s an exciting endeavor — one that ushers in a whole new realm of pride, maturity…and of a truly major commitment.
It’s the show of responsibility that’s the reason home ownership bestows automatic respect from the community. It is, after all, unmistakable evidence of long-term stability, as well as commitment to deal with the future with all it holds — known and unknown. That commitment is something all homeowners share.
Today, buying a house in Las Vegas means entering a changing market. Still-historically low interest rates continue, but now they have started to rise. Broader lending prospects are improving along with that rise (which is the good news). But especially for first-time buyers, it should also mean that it is doubly important to think of the long term, and to let caution and prudence lead to a buying decision that will prove to be the right choice for the future.
What that means when buying a house in Las Vegas, especially when taking advantage of an attractive adjustable interest rate (ARM) loan, is to plan for the likelihood that monthly repayments will eventually increase. Before taking advantage of a great deal, consider whether you will be able to manage monthly repayments if they jump by 1, 2 — even 3%. Although it’s only natural to expect that your family income will grow as time passes and professional experience broadens, cautious buyers keep their budget in line with actual current finances. And they make hard-headed estimates of the upkeep expenses that accompany home ownership.
If the past seven years have taught anything about buying a house, it’s the advantage of tempering optimism with realism. I’m here to help my clients make educated real estate decisions for the short term and long term. If you’ve been preparing to make that exciting first buy, I hope you will give me a call to meet and discuss your goals and the current market – I’d love to hear from you!
Marcelo V. Mayol
The Mayol Realty Group
Realty One Group
702-812-9990
www.ShortSaleInfoLV.com
Monday, July 29, 2013
Preparing Your Las Vegas Home for a Virtual Tour
Putting your Las Vegas home up for sale makes you a key player in a marketing team led by your real estate agent. But you don’t have to attend seminars on salesmanship or study the latest marketing best seller to make valuable contributions to your team: heeding a few guiding principals will take care of that.
One of the most valuable is simply this: great marketers know they should appeal to the widest market possible. Today, we can attract a much wider market than ever before — from across the nation to (amazingly enough) buyers around the globe! It’s due to an increasingly popular tool: the virtual tour on the Web.
Because a standout virtual tour doesn’t just happen by itself, here are some fundamentals for preparing the most effective Las Vegas virtual tour:
- Disorderly rooms as viewed through any old webcam don’t make the grade. Remember that details you see as assets may be perceived as clutter when viewed through the camera’s lens. This can include personal pictures, books, ornaments and toys. When your home is free from clutter, potential buyers can much more easily picture themselves living in it.
- Make sure your furniture is placed to communicate the appearance of spacious, open areas. This may mean being willing to move furniture — even pieces that actually look great in person — away from the middle of the room.
- Since taste is an individual matter, it is hard to present a color scheme that appeals to everyone who views your Las Vegas virtual tour. The most universal rule of thumb is to stick to neutral color combinations. While you may love a vibrant blue wall, others may see it as an unwelcome chore — on extra thing they will have to change were they to purchase your home. In contrast, neutral colors can present a blank canvass.
Getting your virtual tour right means showing a pleasing series of comprehensive views that are neat and minimally but attractively furnished. Looking for a Las Vegas Real Estate agent with the right tools to help you sell for top dollar this summer? I’m happy to interview for that job!
Marcelo V. Mayol
The Mayol Realty Group
Realty One Group
702-812-9990
www.ShortSaleInfoLV.com
Monday, July 22, 2013
Las Vegas Property for Sale: Appealing Retirement Investment?
Who doesn’t give a quick second glance when they drive past a Las Vegas property for sale? Our curiosity seems almost automatic, even when we ourselves don’t have the slightest inclination to move out of our own home.
For more and more people, there’s a new reason for more serious rubbernecking when they pass one of those ‘FOR SALE’ signs. It’s about retirement.
Boston College’s Center for Retirement Research tells us that Americans’ retirement ages are rising steadily. Gallup has a more significant finding: when current workers expect to retire. At least 40% think their own retirement age will be greater than 65.
That goes along with the underlying concern serious people have about their own income during their golden years. For them, second glances at Las Vegas property for sale may be completely pragmatic: that property might represent a large chunk of their future retirement income.
One of the reasons to give it serious consideration is the rest of the investment landscape. I’m no financial advisor, but I do listen to my clients’ attitudes and concerns. Although interest rates now seem to be on the upswing, at present their savings accounts are earning no real return — it’s hardly even an investment. In contrast, today’s property values look likely to appreciate over the long run.
Then there’s the stock market. After the last few years’ gains, people can hardly be blamed for suspecting the accompanying risk quotient has been growing right along with the returns. On the other hand, an appealing Las Vegas property for sale just feels like a comparatively secure investment. Properties don’t just disappear!
Evaluating a property for sale through the prism of its retirement value doesn’t mean it can’t contribute returns long before then. Renting it out on a residential or vacation basis can provide an extra income stream at any time, sometimes with associated tax benefits.
Consulting a trusted financial advisor is the prudent first step when considering the option of Las Vegas property for sale as an investment. Then I’ll be here to contribute my local expertise — and this summer, we’ve got some terrific prospects to choose from!
Marcelo V. Mayol
The Mayol Realty Group
Realty One Group
702-812-9990
www.ShortSaleInfoLV.com
Friday, July 19, 2013
Brief Multiple Choice Quiz on Las Vegas Mortgage Rates
This is one of those multiple-choice questions: which is true – A, B, C, D, or E?
A) If the headline reads LAS VEGAS MORTGAGE RATES ON THE RISE! it means it’s time to buy (quick) before they go up further!
B) If the headline reads LAS VEGAS MORTGAGE RATES FALL! it means it’s time to buy (quick) to cash in on the savings!
C) If the headline reads LAS VEGAS MORTGAGE RATES UNCHANGED! it means it’s time to buy (quick) while the rates are stable!
D) All of the above.
E) None of the above.
My answer is below (and it’s not even upside-down), but before anyone even looks down there, I’d like to mention that there is an equally valid second question, which would read ‘sell’ instead of ‘buy.’
This week is a good time to be pondering both questions. It looks as if the long-lived swoon in mortgage interest rates is about over. “Looks as if” is a carefully chosen phrase, because what seems inevitable in finance has a strong track record of proving wrong. One of the dangers that our current environment presents is that everyone has been correct (about mortgage rates staying in the cellar) for such a long time that they’ve grown accustomed to rates being predictable. They aren’t.
So the answer to the question is (drum roll, please): E).
It’s a trick question: when it comes to buying or selling a home, doing anything “quick!” just because of a one-week dip or rise in Las Vegas mortgage rates is a bad idea. It’s a big decision, one that should be entered into with care and forethought. But if you were to remove the “quick!” from the question, I’d personally tend a little more toward D), but only because I don’t think local mortgage rates are likely to fall right away. And rates today are still, historically, very low.
Good time to buy, good time to sell. Thoughtfully.
Tuesday, July 16, 2013
Digging for Hidden Treasure: ‘Invisible’ Las Vegas Home Listings
The actual percentage is nearly impossible to pin down, but something like 15%-20% of the nation’s homes for sale aren’t listed at all. You might assume that every homeowner with a property for sale would relish the effective marketing that comes through the multiple listing service, but there are at least four ways home listings in Las Vegas sometimes don’t include everything that really is for sale:
Pocket Listing: Occasionally agents choose to withhold Las Vegas home listings from the open market. Reasons vary, but they might wish to keep a choice property for their own brokerage’s clients, or they might seek to create an air of exclusivity around the listing. Digging for these off-market home listings can require energy and persistence, including regular searching through the websites of independent and luxury brokers, contacting scores of agents, or (a good deal simpler) making sure you work with an agent whose own Las Vegas real estate network is deep and current.
FSBO: This is the “For Sale by Owner” group, usually comprising about 10% of the market. These properties are easier to find. Just drive through the target neighborhood looking for yard signs without a brokerage logo. Sometimes you will even find Las Vegas FSBO home listings on the MLS if the owner is offering a commission to buyer’s agents.
Closely Held Transaction: When transactions are arranged between family members, neighbors, or other acquaintances (about 3% of the total market), they frequently close without appearing on Las Vegas' home listings.
Expired Listing: When homes aren’t sold within the expected period they can disappear from Las Vegas home listings. These make up most of the hidden home listings that are still available. A heads-up agent will often be aware of the situation, and if the property fits your criteria, can help you uncover them before others do.
If this summer finds you already on the hunt for a home in Las Vegas, or you are just getting started, or are hitting a dead-end in your search, I stand ready to help you land the right property. Contact me today to see what my network can do for you!
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Tuesday, June 25, 2013
Common Beginner Mistakes When Renting a Las Vegas Home
With housing prices on the rebound, it’s easy to see why some Summerlin homeowners find buying an additional property an increasingly attractive possibility. Getting into the landlord business offers the appeal of a growth investment coupled with the possibility of a favorable cash flow situation.
That said, make no mistake about it: renting a home in Las Vegas is its own business enterprise. Becoming a landlord means making business decisions that carry elements of risk as well as reward. When renting a home in Las Vegas there are a number of common — but avoidable — first-time landlord mistakes:
Fair Housing Violations
From the moment you begin marketing your income property, the language in your ad can easily run afoul of the fair housing rules that prohibit discrimination. Avoid phrases that single out any particular group or profile, such as “family-friendly,” “suitable for a couple,” or “singles only.” Since violations can run up to six figures, make sure your ad simply describes the property and the neighborhood in generic terms — and be prepared to accept the first qualified applicant who meets your terms.
Credit Report Mistakes
Another common mistake when renting a home in Las Vegas is to fail to adequately qualify applicants. Today, accepting credit reports supplied by the applicants themselves is a gamble. Run credit reports yourself (including an eviction check for every applicant over the age of 18). You want to see the history of ALL applicants who will be living in your Summerlin income property.
Security Deposit Mistakes
When it comes to the security deposit, taking too much – or not enough – is another common first-timer misstep. Too little and you won’t have enough protection; too much, and you risk violating state regulations (with the possibility of jeopardizing your right to use any of the funds!).
Renting a Las Vegas home can be an outstanding wealth-building venture, but your responsibilities as landlord must be taken seriously. For anyone unsure about legal requirements, hiring a professional property management agency can make good business sense. I’m here with recommendations for my clients on these and all other matters that accompany your Summerlin real estate opportunities.
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