Visit My Listings on the Internet at:

Posted at ,

3304 Southridge

                                   2705 Cheshire Court

 2017 Winwood (4-Plex)

Las Vegas-New Slogan?

Posted at 9:10 PM, Jun. 25, 2007

Las Vegas is working on a new slogan...the current one is "What happens is Vegas stays in Vegas" and came to being because of an advertising campaign.  I guess is getting a little old or stale or overused, or something.  I think whoever came up with that slogan was brilliant and probably made mint on it.  Anyway, according to the news the other day tourism officials have applied for to trademark "Your Vegas is Showing."  In my opinion certainly not as catchy as the other one.  The two are suppose to 'compliment each other.'  Before deciding to use it though they want to get other's opinions on it.  It was mentioned that surveys would be done to see how it is liked by everyone.  I'd like to give them my opinion on it.  They did not mention where these surveys would take place though,

So how do you vote?  Good slogan or not?  Back to the drawing board?  An awesome slogan?  Do you have a better one?

Nevada and Real Property Transfer Tax

Posted at 7:19 PM, Jun. 24, 2007

The Real Property Transfer Tax is a tax collected when a home is sold in the state of Nevada. The County Recorder collects it at the time of recording and is part of the seller's closing costs. In Clark County NV (Las Vegas, Henderson, etc) the rate is $5.10 per $1000 of value.  This is approximately 1/2 % of the sale price of a home.  If a typical home sells for $250,000 the transfer tax would then be $1300.  This cost is typically a seller cost but can be negotiated.

The basis for the tax is the actual selling price or the estimated market value of the property.

Who is Affected: All parties who participate in transactions involving the transfer of real property.  All of Nevada pays this tax...it varies as to the amount from county to county.

Homeowner Associations in Nevada

Posted at 2:59 PM, Jun. 22, 2007

The bill addressed many items including the banning of radar guns on private streets, fees collected by HOA’s for real estate transactions, and the clarification of existing law allowing HOA boards to raise fees to fill maintenance reserves without homeowner approval.

I don’t know about you but personally I’m not comfortable letting an HOA board raise my dues without approval of the majority of homeowners (for maintenance or not), I can understand the non-use of radar guns on private streets…that’s up to the individual HOA to police, and I’m not sure about the fees collected by HOA’s for real estate transactions…I don’t know the entire story behind this one. 

Closing Costs in Nevada

Posted at 10:55 PM, Jun. 21, 2007

Ever wonder what your costs will be in purchasing or selling a home?  Below is a break down with items a buyer or seller may have to pay.  Many of these items are negotiable, while some are not.  Many of the costs vary according to the type of property sold, the lender requirements, and whether the home is in a homeowner's association.

Seller can generally expect to pay

• Owner's title insurance
• Transfer Taxes - in Nevada this is $5.10 on every $1000
• Real estate commission
• Half of the escrow fee (except VA)
• Notary fees (if applicable)
• Any loan fees required by Buyer's lender (if agreed upon in purchase contract)
• Payoff of all loans including accrued interest, statement fees, re-conveyance fees, and any prepayment penalties
• Termite inspection (if agreed upon in contract) - $75 to $100*
• Home warranty  (if agreed upon in contract) - approximately $500*
• Any judgments, tax liens, etc. against the Seller
• Recording charges to clear all documents of record against the Seller
• Tax pro-ration for any taxes unpaid at time of transfer of title
• Any unpaid homeowners association dues
• Homeowner Association documents**
• Homeowner Association transfer fees
• Pro-rations on any homeowners association dues
• Any homeowner association assessments (if agreed upon in contract)
• Any and all delinquent taxes

 The Buyer can generally expect to pay:

• Lender's title policy
• Half of the escrow fee (except VA)
• Document preparation (if applicable)
• Notary fees (if applicable)
• Recording charges for all documents in Buyer's name
• Termite inspection (if agreed upon in contract) - $75 to $100*
• Homeowners' association transfer fee (if agreed upon in contract)
• Pro-rations on any homeowners association dues
• All new loan charges (except those which the lender requires the seller to pay)
• Interest on new loan from date of funding to 30 days prior to first payment date
• Home warranty (if agreed upon in contract) - approximately $500*
• Fire insurance premium for first year
• Pro-rations on taxes, insurance, etc.
• Home inspection (at buyers discretion) - approximately $300 and $600* depending on size of home and is paid at time of inspection.
• Appraisal fee (if agreed upon in contract) - approximately $400+* depending on size of home and is paid at time of appraisal

* All figures are approximate

**In Nevada if there is a Homeowners Association (HOA) invoved, the homeowner is required to provide the buyer an HOA package.  There are instances where there are more than one HOA involved (i.e. Summerlin, Green Valley, and others)...sometimes as many of three HOAs...documents are required for all associations and can costs several hundred dollars.  These documents include but are not limited to CCR's, By-laws, Rules & Regulations, Minutes, Financial Reports)

All information is deemed reliable but not guaranteed.

Summer Begins - June 21

Posted at 8:24 PM, Jun. 20, 2007

With the tempatures in Las Vegas already hitting close to the 110 mark it's hard to believe that summer is JUST beginning.  Here's some interesting pieces of trivia for you:

• Furnace Creek in Death Valley CA holds the record for highest recorded temperature ever measured in the U.S. - July 10, 1913 - a sizzling 134 degrees!
• To beat the desert heat, the ancient Egyptians circulated water through the walls of homes to cool them, and ancient Persians cooled buildings using wind and pools of water.
• The 'year without summer" occured in 1816  when the northeastern  U.S. and Canada experienced snow and cold through most of the summer. An erupting volcano in the Dutch East Indies (Indonesia) was probably the cause of this.
• Average number of days per year the therometer breaks 110 F in Las Vegas is 9
• Hottest summer on record in Las Vegas had 29 days of 110+ temps (but I can't remember which year)