Las Vegas Real Estate Agents Fire Buyers!

It doesn’t happen every day, but every once in a while Las Vegas real estate agents fire buyers! Real estate agents as a whole work harder than the average person in a 9 to 5 job. They are on call 24/7, and, especially in today’s market, often work for minimum wage when you count up all the hours and expenses that go into a transaction. That is why it is especially important for real estate agents to realize the value they bring to the table and when they should fire buyers that are just not worth their time.

Sometimes the agent doesn’t know the buyer’s mindset going into a transaction, but sometimes the buyer tips their hand in advance, like this actual letter we received on Valentine’s Day. Tim writes:

“I am seriously considering buying Las Vegas homes, BUT ONLY on a KILLER DEAL. I am not interested in a good, great or market price deal. I can pay cash, so there won't be any financing. So, probably a Las Vegas foreclosure, but open to all. I know that there are killer deals out there because I know of them all around me here. So, please, only a straightshooter reply to me.
My criteria: $50-100K. House, new or newer preferably, but not mandatory, 2> beds, 1>bath, a real fireplace is a must, garage, yard or acreage, good area/part of town. I have more likes/dislikes, but these are the standard facts.

I am retired. I want to be near or in relatively close driving distance to golf courses, casinos that have concerts, places to walk and hike, and take my dog. You get the picture?

I don't have a timeframe. As I said, if it is the killer deal for me then I am ready to buy today, or willing to wait until tomorrow, in a week, month or year or more until that deal transpires.
I want an agent that knows Vegas extremely well, is not pushy, is not in desperate need of a sale, will work with me on what I want and not what they want, and obviously knows real estate. Don't laugh. There are way too many people that received their licenses during the big boom years ago that don't know a thing about real estate, and many of them are still out there with their license. Please don't reply because I will know.

If you have someone qualified and interested, let me know, and we can talk.
Tim”

Since we received this letter on Valentine’s Day, we decided to have a little fun with it and instituted our First Inaugural “Kiss Off the Client” Contest. Agents contributed entries to let Tim know (politely) why they were firing him in advance. Below are a few of the entries submitted:

“Dear Tim, You’ll be excited to know that every home for sale in Las Vegas is by definition “a killer deal”. Knowing that should take a lot of the pressure off of both of us.

The remainder of your criteria you’ll find out in Pahrump, Nevada. Are you interested in looking at a few properties there? If so, I’ll be happy to recommend an agent. Make sure to pack your snake and scorpion repellant. Judy”

“Dear Tim, I would love to help you, but sadly my dog ate your listings. As he is on an all starch diet and will probably continue to eat your Las Vegas MLS listings for the foreseeable future, you will need to find another agent to assist you. As a dog owner yourself, I am sure you understand. Good luck! Dave”

“Dear Tim, Since killer deals seem to be falling off the trees right where you are now, why would you want to come to Las Vegas? Please let me know where you are so I can get my real estate license there! Gina”

“Dear Tim, The Good News: Our Las Vegas real estate agents are all HIGHLY experienced, with pit bull negotiating skills, impeccable integrity and incredible work ethics. The Bad News: They are all so successful and already have so many wonderful, motivated clients, none of them are “available” to help you. Management”

Please feel free to use these excuses the next time you are approached by a buyer that needs to be fired!

Las Vegas New Homes - $0 Down and $0 Closing!

One Las Vegas new homes builder is pulling out the stops to attract new buyers! R/S Development, a highly respected local Las Vegas developer, has announced a special $0 down payment and $0 closing cost promotion for their new Liberty Hill project in the 1200 acre master planned community of Providence.

In an effort to compete with the foreclosures for sale in Las Vegas, R/S if offering terrific in-house financing with NO money down and NO closing costs to qualified buyers. Credit just has to be good (though not perfect), and of course the buyer must have enough income to make the payments comfortably. There are three floor spacious plans to choose from, ranging from 1513 square feet to 1876 square feet.

Providence itself features two community parks, Huckleberry Park and Knickerbocker Park, which capture the essence of small town Americana, and the whole community is interwoven with 10 miles of tree-lined walking trails and paseos. The Liberty Hill neighborhood also has its own private community swim park complete with pool house, restroom facilities, playground equipment & green belt.

R/S, a boutique builder in the Las Vegas Valley for almost 30 years, has long been known for the exceptional quality of their homes vs. other tract home competitors. Family owned and operated, they have won numerous Homer Awards for design.

Standard features included in the Liberty Hill Homes are:

1. 13 Seer air conditioning system
2. Dual Glazed Low “E” Glass Windows
3. Climate enhanced balanced power heating & air conditioning system
4. 40 gallon high efficiency gas water heater
5. 10-year limited structural warranty from Professional Warranty Corp.
6. Monier® concrete tile roof in designer coordinated colors
7. Drought tolerant front yard landscaping w/ automatic irrigation system
8. Fully enclosed rear yard with masonry fencing and wrought iron gate
9. Fully drywalled and textured garage
10. 9’ high ceilings on main floor
11. Formal ceramic tile entryway
12. Custom hand finished textured ceilings and walls
13. Architecturally rounded corners
14. Ceiling light in all bedrooms
15. Attractive beech wood cabinetry with finished interiors, adjustable shelves and hidden hinges
16. Energy Star rated Kenmore® appliances

To find out more details on Liberty Hill and other great deals on real estate in Las Vegas, give us a call today at 702-985-7654! But hurry before this special promotion ends.

Foreign National Mortgages Are Back for Las Vegas Homes!

During the recent mortgage melt down, banks had suspended all foreign national financing except for Canadians buying second homes in the United States. But as of last week, foreign national mortgage financing is once again available for citizens of other countries wanting to buy vacation homes in Las Vegas.

Most Las Vegas mortgage lenders, like Bank of America and Wells Fargo, don’t have these programs available, but there are now a few smaller “rising star” lenders that have foreign national funding for second homes. The basic guidelines of the programs are as follows:

1. Can only be for a second home, no investment properties
2. Buyer cannot own any other property in the United States
3. 30% down payment
4. An international credit report with acceptable credit scores – must be paid for in advance (about $200)
5. Buyer must have 24 months of credit history
6. $417k maximum loan amount
7. Debt ratios – housing debt ratio cannot exceed 36% of total income and total debt cannot exceed 45% of income
8. Buyers with diplomatic immunity are not eligible

The best news is that the interest rates and closing costs are excellent – very comparable to what a US citizen would pay. Over the past few years we have had hundreds of calls from the UK and Australia from buyers who wanted to purchase Las Vegas real estate because the exchange rates are great and the prices are so low. Most were willing to put up at least 50% for a down payment. But many were unable to come up with all cash for a purchase. Now second home ownership is once again affordable for these buyers with only a 30% down payment.

So call up all your out of the country friends and let them know the good news. (Maybe they’ll let you stay in their purchase as a thank you!) And tell them to give us a call at 702-985-7654 so we can get them hooked up with one of these great loans.