Going Green with Las Vegas Real Estate

Green, Green and more Green by Lisa Santacaterina, a Tonnesen Team guest blogger and Las Vegas real estate agent


I am not one for "banging on my drum" about turning green or saving the environment or green house gases. That said, I am all for "Green Building" or Environmental Friendly Building" on the basis that it makes sense, and why would you not go green in this case?


Since when was building a home to be durable, energy efficient, built from renewable materials and with a low toxic content a bad thing?


If we turn this around, you have got the following: a poorly built home that is wasting money through poor insulation and energy efficiency, and one that is made from materials that could cause harm to you and your family. And of course, it actually costs you money.


So as I stated earlier, "Why would you not go green?"


And what is "green home building?"


I am fairly sure that if you look around at any Las Vegas new homes construction that is going on, you will not go far before you run into something that is "green." Green building, in short, very short, is building a home with three key elements:



Material Selection (renewable, durable, recyclable, etc.)

Building Performance (Energy Efficiency, Air Quality, low toxicity, etc.) and

Site Development (re-vitalizing existing developed areas, down sizing homes, reduced water run off, providing shade cooling, xeriscaping, etc.).



Making the home as tight as possible will have an incredible impact on your heating and cooling bills.


There are several good websites out there that will give you information on green homes or making you home greener, try www.HGTVPro.com, or www.LowImpactLiving.com for an endless resource of articles and videos. While on the Low Impact Living website be sure to check out my profile and visit my personal web site at: http://www.gotlvrealestate.com/
Or find local organizations like The Las Vegas Green Performance Network (www.LVGPN.com), a local non-profit organization. The Las Vegas Green Performance Network is a community of consumers, corporations and organizations who promote Eco-information for Las Vegas homes, and progress and share a mutual interest in protecting the environment. At The Las Vegas Green Performance Network, information and an open dialogue is expected to both stimulate new interest in the green lifestyle and act as a foundation of action. The Las Vegas Green Performance Network also holds monthly meetings, bringing green products directly to consumers. These meetings allow consumers to see, touch and feel in a no pressure, no sales environment.


To understand what makes a house "green", the US Green Building Council has set up an industry wide certification program, LEED for Homes, to promote, certificate and monitor "green" homes.


Lisa Santacaterina is a valued member of the Tonnesen Team of Prudential Americana Group REALTORS, and she is one of only a handful of certified EcoBrokers in the Las Vegas Valley. To find out more about homes for sale in Las Vegas and how to buy a “green” house, Lisa can be reached at 702-540-2956.

Escrow Officers Say Las Vegas Real Estate Market Improving!

The phones are ringing! This is a good sign that things are happening in the real estate marketplace.

People are beginning to buy Las Vegas homes again, showing more confidence that perhaps the worst of the housing crisis has passed and that housing costs have reached an affordable level. Whether they have found a home in their price range, are negotiating for a short sale, have beaten the builder up on Las Vegas new homes or are looking at a Bank owned property, the contracts are being written.

Increasingly again, more and more properties are coming on the market “in the selling zone.” They are being listed at a competitve price and selling in a relatively short timeframe, while those that are overpriced continue languish on MLS without even generating an offer. Approximately 36% of June 2008 closings (those priced “in the selling zone” at listing) were listed under 90 days on the market, with an average of 60 days on market. The remaining 64% suffered through an average of 230 days on market - that’s nearly 8 months, definitely out of the selling zone.

Listing prices have now dropped 19.5% since September 2007, while closed sales are up 149% since their low in December 2007. June 2008 closed sales represent another 5% improvement over May. More importantly, this is the only the second month since August 2006 that we have witnessed more than 2000 single family home closings.

June closings may also set the tone for the balance of 2008. This is the first time since 2006 that June closings were above the May closings. And inventory is holding steady rather than increasing as it usually does at this time of year. As more of the overpriced Las Vegas homes for sale come off the market in the coming months, inventory levels should actually start to decline.

Previously Escrow Officers were the last to know that a deal was in the works or that a purchase contract was on the way toward an opening. However in these changing times there are many questions about the status of ownership on properties and Escrow Officers are being asked to preview the titles of properties right from the first day of the listing interview. There are more questions and more challenges that need to be overcome before these properties can be listed, let alone get sold, so we become informed of the progress of a property step by step.

All principals in transactions today, Buyers, Sellers, Las Vegas mortgage lenders and Agents, need to be more than patient during the transaction process, as clearing titles, arranging for financing, working with out of State clients and negotiating with banks on the short sales and Las Vegas foreclosures adds to the number of days a property is in escrow before closing. Being prepared to allow lots of extra time and knowing that more than likely the transaction will not close on time will ease the tensions for everyone.

All in all, as long as the phones keep ringing, things are looking great from the Escrow side!

Contributed by guest blogger:
Debra Leatham
Vice President, Escrow Manager
Equity Title of Nevada

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