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Thursday, 10 January 2013

Only 18% of Las Vegas Valley Homeowners Owned Their Homes Outright

Las Vegas, a city where many homeowners are deep underwater also has one of the lowest rate in the country of residents who own their homes free and clear. Only 18% of Las Vegas Valley homeowners owned their homes outright and unburdened by mortgage payments. Click Here For Informative Short Videos on Updates Regarding The Las Vegas Residential Real Estate Market

Among 30 metro areas tracked in the report, this was the third that is lowest. Washington, D.C. was the lowest at 15.5% followed by Atlanta at 17.7%

Regions with lower home values generally had higher outright ownership rates, as smaller loans are easier to more quickly pay off according to Zillow. Las Vegas bucked that trend, probably because home values plunged in recent years after many people bought their homes during the boom days. The steep drops have left people throughout the valley underwater, meaning they owe more on their mortgage than what the home is worth. If Your Interested to Know More, find a Certified Distressed Property Expert In Las Vegas Now.

According to Zillow, About 63 percent of valley homeowners with mortgages were underwater during the three months ending Sept. 30, Las Vegas had the highest rate of underwater homeowners among the 30 metro areas in the report.

We at The Snyder Group want to be your free real estate resource -feel free to Reach Out To Us with your questions or concerns regarding short sales, foreclosure options or How the Las Vegas real estate market is currently performing.

Our real estate agents have a wealth of local knowledge and experience in all the facets of residential real estate whether looking for a large custom home or a condo on the famed Las Vegas Strip - Our agents know our area the best. If you want more information, Contact The Snyder Group for a free consultation and we'll be happy to listen.

This was drafted from an article written by Eli Segall and is originally published in www.VegasInc.com to see the original article Click Here

Tips for Hiring a Professional Mover - The Snyder Group Relocation Service

When you select a moving company, you usually schedule a pickup and delivery date and sign a contract with the movers who will be transporting your belongings. Then, on moving day, you’re at your new address and all your belongings are in a moving truck in front of the house. In some cases, the movers have attached additional fees onto your bill and will threaten to keep your things if you don’t pay up.
To keep this unfortunate scenario from happening, there are 10 things you can do to avoid the hassle of dealing with an unprofessional moving company.

Research the moving companies you’re considering. See which businesses are known for doing quality work, and ask for referrals from family and friends. It’s also a good idea to check with the Better Business Bureau to see if the moving company you’re thinking about hiring is listed.
Always get more than one estimate before making your final decision. If you’re moving to another state, you’ll be charged based on the weight of the items that are being moved, as well as the distance the movers will have to travel and special packing methods that may be necessary for your furniture. It’s best to have a relocation consultant come to your home to evaluate your belongings and give you an idea on how much you’ll spend on moving expenses. Never accept an estimate over the phone.
Ensure that the movers are aware of everything that needs to be packed and moved. If anything is added to the list that wasn’t in the original estimate, your cost will increase. If the movers will have to park far away from your home or new address, you’ll be charged extra for labor.
Make sure that you get homeowners insurance before you move to make sure your belongings are covered when they’re in your home. However, it’s also important to buy relocation insurance, so that your furniture and valuable items are insured as you’re commuting to your new place.
Read the contract from the moving company very carefully. The mover will give you a bill of lading, which is a legal agreement between the company and the customer. Make sure you understand everything in the document before you sign it. You must pay for the moving service on the date the contract suggests, and should ensure that the name of the moving company, along with the address of the moving company and the time of pickup.
Don’t be afraid to ask questions about the contract. Make sure the pay rates and delivery dates are clearly stated in the contract. Don’t worry if the movers have to wait a few minutes for you to look the contract over. Moving scams are quite common, and a reputable company will understand your desire to thoroughly read through your contract.
Plan your move during the winter. If you move between the months of October and April, chances are you’ll get a better rate on moving services. The time between June and September is very busy for moving companies, so if you need to move during this time, be sure to call the company as far in advance as possible to lock in the best price.
Stick with your original delivery date. If you have to change the date the movers come to your home, especially if you do so at the last minute, you’ll likely end up paying extra.
Check your inventory to ensure that none of your items were stolen or damaged. The moving company is responsible for this, so note any damage you fine on the inventory sheet when your furniture is delivered.
Perhaps most importantly, make sure the moving company you’re working with is legitimate. Stop by the company to ensure that it has a physical address. The moving trucks should be clearly labeled, and you can find the company’s motor carrier license on the Federal Motor Carrier Safety Administration SaferSys website. Ask for a DOT number from the company and search for it online to make sure it’s valid. You can also visit www.movingscam.com to make sure the moving company is not listed there.

The Snyder Group Luxury Real Estate provides knowledgeable, up to date and comprehensive relocation programs to companies and their employees in Las Vegas and throughout the United States.

Our staff is dedicated to helping companies and their employees make an educated decision about whether living in Las Vegas is right for them. It's important for an employee(or a company) considering a move to have all the facts at hand before making a decision that will affect every family member.

We work closely with corporate policy makers and Human Resources personnel to create a relocation benefits program that meets the needs of all employees, regardless of title or position.

Many of our services are complimentary and provided in conjunction with our Select Services Concierge Program. Please contact us for information about our fee schedule.

Wednesday, 9 January 2013

Las Vegas Home Prices End 2012 Up 24 Percent

Las Vegas Home Prices had a strong finish to 2012 as it posted one of the best sales year ever.

The median price of Las Vegas Valley single-family homes sold in December was $149,000, up 24 percent from a year earlier, according to a new report from the Greater Las Vegas Association of Realtors. You can check out informative short videos about the Las Vegas Residential real estate market here.

Last month, here were 3,624 total sales. down 15 percent from a year ago.

2011 is the top sales year so far with 48,186 sales followed by 2009's 46,879 sales. 44,902 homes were sold in the valley last year, down 7 percent from 2011 but still the third highest since 2000. Short sales grabbed a record chunk of the valley’s sales last month, accounting for 46 percent of all sales, up from almost 27 percent a year earlier.

Foreclosures, which made up more than half of all sales a few years ago, accounted for just 9.5 percent of deals last month, the GLVAR said. The valley’s housing market has been propped up in large part by cash investors, who prowl for cheap homes to rent out. Reach out to The Snyder Group Luxury Real Estate if You want to know more about becoming a Las Vegas Real Estate Investor.

This was drafted from an article written by Eli Segall and is originally published in www.VegasInc.com to see the original article Click Here

Friday, 4 January 2013

Top 5 Las Vegas Real Estate Deals

Earlier we brought you The priciest Las Vegas Luxury Homes Sold in 2012.. This time here is a list of The top real estate deals here in Las Vegas..

Properties that traded hands this year include a portfolio of office buildings in Summerlin, Walgreens pharmacies on the Strip, and a hotel and casino at Lake Las Vegas.

Here’s A Look At The Top 5 Most Lucrative Las Vegas Real Estate Deals Of 2012

1. Summerlin office portfolio

Price: $119.5 million

Buyer: Hines Interests (Houston) and Oaktree Capital Management (Los Angeles)

Seller: General Growth Properties (Chicago)

In September, General Growth Properties sold its local office portfolio — 32 buildings in Summerlin totaling 1.1 million square feet.

The sale boosted the valley’s commercial real estate sector, partly because it was the largest local deal in years and partly because it marked Hines’ entry into the market. The real estate giant owns high-quality commercial buildings around the world and has offices in 18 countries.

The deal also lets once-bankrupt General Growth focus more closely on its main business: shopping malls. The Chicago-based company owns or partially owns 149 regional malls, with four in the valley, including Fashion Show mall and the Grand Canal Shoppes at the Venetian.

The buildings in Summerlin reportedly were half-vacant at the time of sale. The portfolio also included two development parcels totaling 19 acres.

2. Veer Towers
Price: $119 million
Buyer: Ladder Capital (New York)
Seller: CityCenter Residential (Las Vegas)

Ladder, a real estate investment firm, paid $119 million cash for more than 60 percent of the condos at CityCenter’s Veer Towers. The deal closed in December.
The bulk sale of 427 units means almost all the available inventory is now taken. The 37-story luxury high-rises on the Strip are 98 percent sold. The 11 remaining units are penthouses.
Ladder paid around $300 per square foot, but asking prices for individual buyers have started in the $500 range. About 320 of the units sold to Ladder already are being rented.
Veer Towers, which by design lean at a 5-degree angle, have 335 units each. The homes range from about 500 to 3,300 square feet. Amenities include valet parking, exercise facilities, steam rooms and saunas.
The 67-acre CityCenter complex is a joint venture between MGM Resorts International and a subsidiary of Dubai World, a Dubai-owned holding company.

3. Renaissance Villas
Price: $74.75 million
Buyer: WTI Inc. (Cupertino, Calif.)
Seller: ConAm (San Diego)

WTI Inc. bought this 840-unit apartment complex on West Tropicana Avenue near South Decatur Boulevard in late October.
The property was built in 1989 and remodeled in 2006.
About a month after buying it, WTI spent an additional $18 million for 163 units at the 382-unit Esplanade residential complex off South Durango Drive near the 215 Beltway.
The real estate deals came after WTI’s sister company, software firm Wyse Technology of San Jose, Calif., was bought by Texas computer maker Dell.
WTI’s owners held stakes in Wyse and are using proceeds from its sale and other sources to buy real estate, a person familiar with the matter has said.

4. Walgreens
Price: $71 million
Buyer: BLDG Management Co. (New York)
Seller: Peterson Properties (Albuquerque, N.M.)

Walgreens pharmacies are often in drab suburban strip malls, but not this one: It’s between the Venetian and the Palazzo in the heart of the Strip.
BLDG Management, a prominent New York City landlord, acquired at least a 70.5 percent stake in the property through the $71 million deal in early October, Clark County records show.
BLDG founder Lloyd Goldman is helping finance a planned $230 million, 625-foot waterfront Ferris wheel in the New York borough of Staten Island. He also is part of the group that’s redeveloping the World Trade Center site, the Associated Press has reported.

5. Ravella at Lake Las Vegas and Casino MonteLago
Price: $46.9 million
Buyer: Kam Sang Co. (Arcadia, Calif.)
Seller: Deutsche Bank (New York)

Kam Sang Co. bought the 13.8-acre hotel site and adjacent 1-acre casino in November.
The hotel initially was a Ritz-Carlton. Deutsche Bank foreclosed in February 2009, and the Ritz shut its doors in May 2010.
Dolce Hotels & Resorts took over the lease in January 2011 for the 349-room property and gave it the Ravella brand.
Meanwhile, Casino MonteLago closed in March 2010 because of the Ritz’s closure. The casino reopened last year after the Ravella opened.

This was drafted from an article written by Eli Segall and is originally published in www.VegasInc.com to see the original article Click Herehttp://www.vegasinc.com/news/2012/dec/29/top-las-vegas-real-estate-deals-2012/

Will The Las Vegas Housing Inventory Hit Bottom in 2013?

What will happen to the Las Vegas Housing Inventory in 2013?

According to the NAR, Inventory declined to 2.14 million in October down from 2.17 million in September. Inventory is not seasonally adjusted, and usually inventory decreases from the seasonal high in mid-summer to the seasonal lows in December and January as sellers take their homes off the market for the holidays. Read More: Selling your Home? Know How Much Your Home Is Worth Compared to Homes Sold or is Currently Listed in Your Area!

If we see the usually seasonal decline in December and January, then NAR reported inventory will probably fall to the 1.80 to 1.85 million range. That would be the lowest level since January 2001.

Important: The NAR reports active listings, and although there is some variability across the country in what is considered active, most "contingent short sales" are not included. When we compare inventory to earlier periods, we need to remember there were essentially no "short sale contingent" listings prior to 2006.

Our Inventory decreased 21.9% year-over-year in October from October 2011. This was the 20th consecutive month with a YoY decrease in inventory. It appears that inventory will be down sharply YoY in November too.

Months of supply declined to 5.4 months in October and is now in the normal range. With these, we expect months-of-supply will be under 5 in December and January for the first time since early 2005. Read More: Search for Homes for Sale in any Las Vegas Community.

Real Estate agents normally say that inventory is low because people don't want to sell at the bottom. In a market with falling prices, sellers rush to list their homes, and inventory increases. But if sellers think prices have bottomed, then they believe they can be patient, and inventory declines. Another reason is that many homeowners are "underwater" on their mortgage and can't sell.

If prices increase enough (probably around 5% in 2012) then some of the potential sellers will come off the fence, and some of these underwater homeowners will be able to sell. It might be enough for inventory to bottom in 2013.

Another issue is if the Mortgage Debt Relief Act of 2007 is allowed to expire at the end of 2012. If the act isn't extended, many of the contingent short sales will be pulled off the market. Although this doesn't impact active inventory directly, it might have an indirect impact.

We at The Snyder Group want to be your free real estate resource -feel free to Reach Out To Us with your questions or concerns regarding short sales, options to foreclosures or how the Las Vegas real estate market is currently performing.

This blog was drafted from an article written by Bill McBride and is published in www.Calculatedriskblog.com to see the original article, Click Here

Our 5 Picks for Best Luxury Bicycles

Fashion designers and luxury auto brands love putting their names on anything they can reach, from coloring books (I'm looking at you Hermès) to backgammon sets, and it seems only natural that they add luxury bicycles to their product lineups. From a business standpoint, it completely makes sense because a bike is certainly a much cheaper way to extend your brand than a car would be. Plus, there are endless customization possibilities, from special paint options to leather accessories, and consumers will ride around like a moving advertisement. Fashionistas have been eagerly snatching designer bikes up as the perfect style accents, matching their CHANEL purse with a sleek CHANEL bicycle, while car enthusiasts are able to flaunt their love for Porsche on two wheels. Here are five picks for the neatest options out there, just in case you're in the market for a new stylish ride.

Photo Courtesy of Porsche

Bike RS and S by Porsche

Our first pick is Porsche's city bicycles, the Bike RS and S. The company's penchant for sleek lines and classic curves translates in new ways via these bikes, while also being built from fine materials that make them lightweight and safe (with help from the Magura hydraulic disc brakes). The RS is a 29-inch Racing Sport edition that is built for performance, featuring carbon features in the frame, handlebars, brake levers, and seat post. At less than 20 pounds, the RS can easily be carried around depending on where you need to get and is available in black with Electric Blue accents. The S is a bit heavier but not by much. It boasts a more stable ride due to the hydro-formed aluminum frame, and comes in Carrera white. With the Bike S retailing for $4,449.98 and the Bike RS going for $7,999.99, both models are designed for riders of all sizes, coming in small, medium, and large.

Photo Courtesy of Hermès

The Quadrille Promenade Bicycle by Hermès

Retailing at $4,650, this bicycle from Hermès has a classic and timeless design; one could easily picture Audrey Hepburn riding it down a country lane in a quaint town. The brand began producing bicycles back in the 80s so they were definitely ahead of the game. Aside from the lacquered black stainless steel, the bike frame, handles, and saddle are all wrapped in Taurillon Clemence leather, which gives the overall look a certain elegance that most bikes lack. This one definitely isn't made for speed like the Porsche bicycles, but it's certainly what you want for a nice leisurely ride through town.

Photo Courtesy of CHANEL

CHANEL

CHANEL's bike is hand-assembled and features one of their favorite sport style accents, quilted calfskin. The seat, as well as three attached bags and chain cover, are all made out of the black calfskin, set in the classic quilt pattern. With an all black color scheme, this bike won't detract from your outfit, meaning you can pretty much wear whatever you want. Plus, the ladies should be thrilled to discover that there's even a make-up case to store stray eyeliners and lipsticks in. After all, you never really know when you will need a quick touch up. Just don't fix your makeup mid-ride.

Photo Courtesy of GUCCI

Bianchi by GUCCI

If you're a fan of GUCCI you're going to have a hard time passing this stunning urban bike up. With a black or white carbon fiber frame, each with red and green style accents, this bicycle turns every street into your very own runway. Costing $14,000, the handle bars and seat show off the diamante pattern, with the brand logo appearing on the seat and frame. Not only does this bike look fashionable, especially the white with brown seat and grips, it's worthy for some serious street riding as it has eleven speeds and hydraulic disk brakes. The pedals are even double sided so they're compatible with both regular shoes and toe clips.

Photo Courtesy of BMC

BMC's impec Lamborghini Edition

If you already have a Lamborghini and want a bike to match, this one is for you! The Swiss Bicycle Manufacturing Company (BMC) teamed up with the luxury auto brand to make a unique bike that borrowed all the best Lamborghini characteristics. This customized model was made through a controlled manufacturing process and the company promises it represents optimum performance and precision. Made of carbon fiber materials, the frame is airbrushed in Lamborghini Argos Orange, and has a Lamborghini suede saddle and handlebar, as well as a Shimano D12 electronic shifting system. This innovative bike was made in limited quantities so if you can manage to get your hands on one of the 30 made, each costing around $26,000, we applaud you.

Its a common knowledge that buying the right luxury property or selling your current property depends a great deal on finding the right Real Estate Proffesional.

The Snyder Group provides Luxury Real Estate Services throughout the entire Clark County. We consistently represent the most significant Homes For Sale in the different Las Vegas Communities such as Summerlin and The Sun Cities.

This was drafted from an article Originally published in www.justluxe.com to see the original article Click Here

Top 10 Most Expensive Las Vegas Luxury Homes Sold In 2012

2012 was a strong year for the Las Vegas Residential Housing Market with rising prices and increased sale.

The deals were mostly at the lower end of the market where Las Vegas Real Estate Investors keep buying cheap homes to rent out. The Las Vegas Luxury Homes sector, acounted for a small portion of the overall sales also had a fair number of deals as well.

You can Search for Las Vegas Luxury Homes Here and if you want more information about any of the property that interest you, Please Contact The Snyder Group Luxury Real Estate.

While your doing your search, Here are the 10 Most Expensive Homes Sold In Las Vegas in 2012

1. 7 Falcon View Court, Las Vegas

Sale recorded: Sept. 11

Price: $8.35 million

Description: Two-story, 10,650 square feet, five bedrooms, seven bathrooms. Built in 2009 and located in Summerlin. Features a porte cochere, motorized glass pocket doors, double island kitchen, wine room and theater.

2. 9401 Kings Gate Court, Las Vegas

Sale recorded: July 16

Price: $7 million

Description: Two-story, 15,802 square feet, five bedrooms, seven bathrooms. Built in 2002. Has theater and fitness rooms, an elevator, a lazy river pool and an eight-car garage.

3. 30 Olympia Hills Circle, Las Vegas

Sale recorded: May 31

Price: $5.6 million

Description: Two-story, 14,148 square feet, eight bedrooms, 13 bathrooms. Built in 2009. Has an elevator, marble floors, home theater, hand-painted ceilings and a wine cellar that holds more than 600 bottles.

4. 5 Promontory Pointe Lane, Las Vegas

Sale recorded: May 2

Price: $5.15 million

Description: Two-story, 12,496 square feet, five bedrooms, nine bathrooms. Built in 2009. Sits on a Summerlin hillside overlooking the valley. Includes a 480-bottle wine cellar, six-car garage, theater, game room, security cameras around the perimeter, a 12-person spa and an outdoor kitchen.

5. 5100 Spanish Heights Drive, Las Vegas

Sale recorded: Jan. 19

Price: $4.5 million

Description: Two-story, 14,306 square feet, seven bedrooms, 11 bathrooms. Built in 2003. Former home of actor Nicolas Cage. Has 16-car garage, an elevator and a theater room. Master bedroom has a balcony and a sitting room.

6. 45 Hawk Ridge Drive, Las Vegas

Sale recorded: Aug. 16

Price: $3.7 million

Description: Two-story, 7,016 square feet, four bedrooms, six bathrooms. Built in 2009. Located in Summerlin on the eighth green of Bear’s Best Las Vegas golf course.

7. 8 Morning Sky Lane, Las Vegas

Sale recorded: Jan. 31

Price: $3.6 million

Description: One-story, 11,223 square feet, eight bedrooms, 10 bathrooms. Located in Summerlin, and built in 2007. Features a game room, movie theater and 2,000-bottle wine cellar.

8. 2540 Red Arrow Drive, Las Vegas

Sale recorded: March 20

Price: $3.5 million

Description: Two-story, 10,780 square feet, six bedrooms, six bathrooms. Built in 2005. Located in Summerlin alongside the 18-hole Arroyo Golf Club at Red Rock Country Club.

9. 15 Wild Ridge Court, Las Vegas

Sale recorded: Aug. 21

Price: $3.2 million

Description: One-story, 9,913 square feet, four bedrooms, seven bathrooms. Located in Summerlin and built in 2006. The home features a gym, wine cellar and aquarium, and its 2,500-square-foot basement contains a theater, card room, wet bar and bathroom.

10. 641 Saint Croix St., Henderson

Sale recorded: Oct. 1

Price: $3.2 million

Description: Two-story, 9,185 square feet, four bedrooms, seven bathrooms. Built in 2004. Has an exercise room, massage area and roof-top patio.

This was drafted from an article written by Eli Segall and is originally published in www.VegasInc.com to see the original article Click Here