Ask for special incentives in buying a house, as there are a lot of sellers now and the market is quite saturated. Be very attentive on the financial terms offered by the seller and try to determine any possibility of reducing your transaction costs, such as asking the seller to shoulder the closing cost.

More importantly, always consider the location of the house you wish to purchase. Try to avoid properties near busy streets or places where a lot of people converge at particular times of the day. Choose a house located in a community with viable economy, to ensure your property will still sell a few years down the line. Examine also the local services available, as well as the crime rate. A property near a good school is considered a good find. Do not be discourage if the house is located in a community with higher property tax, as this often translates to better services and infrastructures.

Hire a home inspector to check whether appliances are in good working order, the electrical wirings are all in order, and determine the state of the heating and air conditioning systems. A good home inspector should also scrutinize the exterior of the house, including the roofing. Have the inspector check the plumbing, ventilation and the general foundation of the house.

At the other end of the spectrum, selling your house also entails that you must first formulate a good marketing plan. This includes considering several listing contracts with your real estate agents, who will be the one bringing the clients to your house. Evaluate also your asking price and try to adjust it with the current pricing trends in the local area. Timing is also important as it will do you no good to sell during a market slump. Next, improve your house?s appeal through cleaning, tidying up the yard and even adding a fresh coat of paint. Remember that first impression always makes a big impact on potential buyers. Make sure that you are also familiar with disclosure laws in your area. Lastly, be discriminating in who you allow inside your house. The value of a good real estate agent comes into play here, as it is always good to have somebody around who is quite knowledgeable and can answer questions regarding real estate.

Posted by Barbara Wagner on December 13, 2008 at 12:00 AM

About Barbara Wagner
Barbara Wagner is affliated with Prudential Americana Group Realtors, which is located in Las Vegas, NV. For further assistance please use the contact information located on the right.




As of 05/24/12 the Barbara Wagner RePage is ranked at 6,307 with 370 points.

Real Estate Value What is real estate value? It isn't what you have into your house. It isn't what you feel it is worth. It is what the market will pay. How do you figure out what the market will pay? For single family homes, the best way is by seeing what similar homes have sold for. Figuring replacement cost isn't very useful. It's difficult to say what land is worth in a city center where none is left for sale, for example, and tough to gauge depreciation of the home itself. Valuation from replacement cost is used as a secondary method, and for unique homes that can't be compared easily with others. However, the primary method of real estate appraisal used for homes is a market analysis using comparable sales. Real Estate Value 101 First find at least three similar homes in the same area that have sold within the last year, and preferably within the last six months. You can find this information is in county records (sometimes online now), or from a real estate agent with access to the multiple listing service. Make sure you have the basic sales information: sales price, terms of sale, description of the property, etc. Here is how you use this information to find real estate value. Write down the selling price of your first comparable. Review the description item by item, adding to the sales price of the comparable for each thing it doesn't have that your subject home has, and subtracting for each thing it has that your subject home doesn't have. This sounds confusing, but it will make sense once you try it a couple times. For example, if your subject home has a second bathroom, and the a comparable doesn't, you add the value of the bathroom to the sales price of the comparable. If a comparable home has a blacktop driveway, and the subject home doesn't, you take the value away. What you are doing is rectifying differences, to see what the comparable home WOULD have sold for if it was just like yours. Suppose a comparable sold for $140,000, with one less bathroom than your subject home, and a bathroom is worth $15,000 in your area (ask a real estate agent for help with these figures). You ADD $15,000 for the bathroom it doesn't have. You subtract, say $4,000, for the paved driveway it does have, that your home doesn't have. $140,000 plus $15,000, minus $4,000 gives you a comparable sales price of $151,000. Do this with all differences between the subject home and each comparable. Once done, average the three comparable prices. If, for example, the three comparables now have adjusted sales prices of $151,000, 162,000, and 149,000, add the three figures and divide by three. The indicated value of the home is $154,000. All appraisal is an inexact science. You might only find comparables sold over a year ago, and have to estimate appreciation in the area. If a comparable sold with seller financing, you have to decide how much this affected the price. Still, for all of it's flaws, for single family homes this is the most accurate method for finding true real estate value. Posted by Barbara Wagner on December 13, 2008 at 12:00 AM About Barbara Wagner Barbara Wagner is affliated with Prudential Americana Group Realtors, which is located in Las Vegas, NV. For further assistance please use the contact information located on the right. As of 05/24/12 the Barbara Wagner RePage is ranked at 9,075 with 280 points.

Local Information for Las Vegas, NV

Latitude: 36.194168 -- Longitude: -115.22206

Other Area Cities:   Las Vegas, NV  Henderson, NV  North Las Vegas, NV  Paradise Hill, NV  Spring Valley, NV 

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Las Vegas (often informally abbreviated to "Vegas") is the most populous city in the state of Nevada, United States, and a major vacation, shopping, entertainment, and gambling destination. It was established in 1905 and officially became a city in 1911. It is the largest U.S. city founded in the 20th century. The name Las Vegas is often applied to the unincorporated areas of Clark County that surround the city, especially the resort areas on and near the Las Vegas Strip. This 4½ mi (7.2 km) stretch of Las Vegas Boulevard is mostly outside the Las Vegas city limits, in the unincorporated town of Paradise. The center of gambling in the United States, Las Vegas is marketed as The Entertainment Capital of the World, also commonly known as Sin City, due to the popularity of legalized gambling, availability of alcoholic beverages at any time (as is true throughout Nevada), and various forms and degrees of adult entertainment. -- Source: Wikipedia.com

Nevada 2000 Census Population Profile Map

	Las Vegas	Nevada	United States
Population	478,434	1,998,257	281,421,906
Median age	34.5	35	35.3
Median age for Male	33.9	34.5	34
Median age for Female	35.1	35.6	36.5
Households	176,750	751,165	105,480,101
Household population	470,249	1,964,582	273,643,273
Average household size	2.66	2.62	2.59
Families	117,466	498,333	71,787,347
Average family size	3.19	3.14	3.14
Housing units	190,724	827,457	115,904,641
Occupied units	176,750	751,165	105,480,101
Vacant units	13,974	76,292	10,424,540

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