Las Vegas Short sales. Nevada Foreclosures. Tax liens. Oh My!!

Las Vegas Short sales. Nevada Foreclosures. Tax liens. Oh My!!

Las Vegas Short Sale Specialists
702-604-7739

The litany of ways that one can buy a house in Las Vegas while taking advantage of the downturn in the economic Las Vegas Real Estate market are varied, and some of the jargon can get confusing. A Las Vegas short sale is one of the ways to purchase these houses to take advantage of buying low and making the house a good choice for an investment. You'll find Las Vegas Short Sales as low as $36,000 right now at the time of this blog posting.

The idea of a short sale is simple. Someone purchases a house in Las Vegas and cannot afford to continue paying for it. That person contacts the bank, and the bank mortgage officer agrees to take less money than is owed to pay the mortgage out right. 

The person is selling the house for “short,” or less than is owed. In Las Vegas, where the housing market took a nosedive in 2008, the number of short sales available has been very high. The Las Vegas real estate market was one of the worst hit in the country, and while some reports suggest that the number of investors buying homes there has been decreasing, suggesting that the native real estate market is improving, still about 25 percent of the homes in the Las Vegas real estate market currently are purchased by institutional investors.

You could be one of the them!

A short sale is a perfect way to get into investing in Las Vegas real estate for a number of reasons. First, the house is obviously being sold for less than it is worth, which means that the buyer is walking into an asset. Second, unlike Nevada foreclosures, the seller often still could afford to make payments and is doing so, which means that the house is typically in decent shape. The bank is not “kicking out” the occupant for non-payment. Third, the number of repairs needed in a short sale home often is much lower than what is needed in a foreclosure because the owner has been able to afford the payments and upkeep until fairly recently. There is in general less long-term damage from lack of maintenance.

Taking in all of this information can be overwhelming, however. Sorting through the homes available for short sale can be even more daunting. One option for the new Las Vegas real estate investor is to hire a Las Vegas short sale specialist such as The Ballen Group at Keller Williams Realty Las Vegas summerlin. Yes, there are people who specialize in helping buyers with short sales.

Quick, name four great neighborhoods to raise a family in Las Vegas! Are you stumped?

A Las Vegas short sale specialist will know. He or she will be able to assist and knowing those neighborhoods and having an idea of the trends in the local market, which is a wonderful benefit, especially for someone who is new to buying in this particular market. Because Las Vegas is a tourist town, some areas are going to be full of people visiting casinos, stage shows, and other entertainment. A short sale specialist will be able to help pinpoint areas that are devoid of tourists or that attract tourists for rental properties if that is what the buyer is looking to do.

The short sale specialist also will be familiar with government programs related to short sales and investment properties. When calling on this person, he or she will be able to give advice about the potential tax implications of various options. In essence, the short sale specialist should be considered a trusted advisor in making this major investment in much the same way that insecurities broker helps when planning stock-based investments. Hiring a short sale specialist should be considered part of the expense of making this investment, and the cost of this professional’s expertise and services is worth the benefits for an investment that could net $200,000 or more in the long term.

If you are considing buying or selling a Las Vegas Short Sale, Call 702-604-7739 to reach a short sale specialist at The Ballen Group of Keller Williams Realty Las Vegas.

"I would have to say that if you are looking to do A short sale, the Ballen group of Keller Williams Realty is the only way to make sure that it gets done."Bill T “the Seller”