Las Vegas Real Estate News

Las Vegas Valley Home prices have basically fallen off a cliff -- which, of course, means it is a great time for buyers.  Foreclosures continue to be a significant part of home sales: almost 60% of the homes that sold in May had previously been foreclosed upon.

Median home prices for May continued the path downward, as did the actual number of homes sold.  We have heard reports that over 10,000 homes are sitting vacant in Las Vegas.  

Here is how the median prices break down: 

High-Rise Condo Buyers.  If you are planning to buy a high rise condo, you would be advised to look at resale condos.  There are many on the market and many of these have never been lived in. So you may get a virtually "new" condo for a very, very attractive price.  You may also find that original builders of new condos are less interested in negotiating a reduced base prices -- but are willing to offer incentives such as upgrades.

Taxing News. Currently, Nevada has no personal income tax, no inheritance or estate taxes. Property taxes run about 1%. In the lat session the Nevada State Legislature placed a cap on the amount property taxes can increase based on rising property values. 

What Las Vegas Neighborhoods Do Real Estate Agents Find Most Desirable?   Desert Shores and Summerlin tied for #1 in a recent survey of Las Vegas real estate agents.

Where In The Valley Is It? If you would like to know where various communities are located in the Las Vegas Valley, click here for a neighborhood map that will give you the general location of Summerlin, Siena, Lake Las Vegas, Green Valley, The Northwest, Henderson West, Sun City Anthem, etc.

For information about small lot sizes, click here.