Cedar Village – Apartments of Choice
There are rumors and opinions that the Las Vegas real estate market is heading for a crash. I beg to differ. I agree that the rise in rates has not been as high lately as it was in the dizzy days of the past two years, but that is because certain projects were overpriced and if there is a drop, it is only making the prices more realistic. Investors in Las Vegas properties will still make a decent profit because the number of people coming to Las Vegas is only increasing everyday. Las Vegas real estate investors should expect a lower rate of appreciation compared to the last two years.
Nevada has shown the fastest population growth in the nation for the past eighteen years and in 2005, about 7,200 people moved here every month making that almost 86,500 in just one year. The number of tourists in 2005 touched a staggering 40 million.
The economy is booming here because of tourism and the construction jobs available. A growing economy and population will continue to drive real estate prices upward. Inflated prices have created a demand for housing under $200,000 and there are over thirty high-rise condominium projects currently under construction. This has also led to the conversion of 15,000 apartment units to condos. Out-of-town buyers will pick up most of these condominium units that range in price from the low $200,000s to several million dollars.
The high-rise development has not had a direct affect on the local housing market. The strong economy has seen to that but the dramatic increase in price of starter homes has resulted in many young families and retirees seeking rented accommodation. The city has a growing labor force of construction workers and workers to fill new positions in the growing entertainment and hospitality industry. Most of them seek rental housing at least to begin with. There is an acute shortage of apartments in Las Vegas and apartment demand is expected to increase rapidly. One of the most incredible rises in the real estate market was the 346-unit apartment complex that sold for $12,750,000 in April of 2004 and then resold in January for $40,500,000.
There is very little land available for development in the central part of Las Vegas and if you are working in the city, you may not want to move too far out. In east central Las Vegas near Stewart Avenue and Mojave Road, you could find just what you are looking for in Cedar Village Apartments on East Cedar Avenue. This is a gated community with a gated entrance having remote controlled access. Security is further enhanced by the presence of foot patrol. The apartments range from one to three bedrooms and have large eat in kitchen, well equipped with dishwashers etc. The rooms are fitted with vertical blinds, air conditioning and free satellite TV. Most have either a balcony or a patio and there is laundry facility as well.
Common facilities include playgrounds, a swimming pool and hot tub and spa and there is convenient public transport as well. The only snag for animal lovers is that they have a no pets policy. Nevada Housing Division recommends the complex and assists in finances.
Tony Sena of http://www.las-vegas-nevada-real-estate-relocation.com is a full service real estate agent specializing in relocation to the Las Vegas Valley. Tony has lived in Las Vegas for 29 years and is a former Henderson Police Officer. He is very knowledgeable of the area and has over 5 years experience, making him an experienced real estate agent you can count on.
The Twist and Shout
Copyright 2006 Ron LeBlanc
For the real estate investor this has a different meaning than for the musician. John Lennon would be shouting also about this concept. What I am talking about in regard to real estate is the twist. It is a way of seeing something in a property that no one else has seen. Let me explain.
I frequently come across properties, and in fact I look for properties that have been on the market for a long time and have a big stack of realtor cards on the kitchen counter. What I do is put on a different set of glasses than all the previous visitors.
Previous visitors have included mostly people who want to occupy the house. They are looking for a home and they don't see one. A few people are looking for something they can apply their specialty to – a painter looking for a house that just needs paint; a carpenter looking for a house that needs cabinets; you get the idea.
I'm by no means all seeing, but I am looking for anything that could make the house into a home. I try and see either what people were expecting when they first drove up, or what people would like to see when they drive up to the house I am now marketing.
For example, I had one house that had a sunken in sitting room with a curved drop-off going from the kitchen/dining area to it. I asked another realtor and several contractors what to do with it, and I got answers about how to round off, or make the transition smaller, or more decorative. Then it just popped into my head – raise the sunk in part and make one big room out of it!
That house suddenly had a large tiled dining area. It transformed from a barely adequate main floor with a room that was semi-useless, to a large dining area to entertain and impress. I saw what no one else had seen.
Another obvious twist for the real estate investor is to see a small house as a large house with a now-finished basement. If you have a good source of contracting services and can finish a basement for a reasonable cost, you enter a totally different market of buyers. Instead of potential home buyers looking for something under $200k, you now tap into people in the $250k range – a completely different set of buyers.
The real estate investor has to have several sets of glasses: the first has to be the set that the final buyer has. The majority of buyers want to drop their bags and plop down on the couch. They don't want to do much work on a place – this is your target market and highest return. The second set of glasses is the contractor set. A successful investor has to know approximately how much it will cost to rehab a house. Bring a contractor with you ideally to get the best estimates.
The third set of glasses for the real estate investor is the buyer set. You will be most successful if you can see the profit in that older beat-up house as it is transformed into a home. The bottom line is we buy houses and sell homes. If you keep this in mind you will be a successful real estate investor. Don't ever limit yourself in what you visualize when you look at a property. You may come up with that one twist that makes it a completely different property – then you can shout with joy at the profit. Twist and shout!
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Ron LeBlanc is a real estate investor who is a licensed realtor in Colorado. He gets a huge charge out of helping people through the fear and hurdles of attaining financial independence. He lives with his wife and 2 boys in Boulder, Colorado - the best place on Earth to live. Visit him at http://www.boulder-realestate-investors.com
All Lawns are not the same: Choosing your grass wisely
All yards are not the same: Choosing your grass wisely
First of all, you should determine what your ideal yard will look like, as grasses can vary in color, leaf width, characteristic and growth density. Each little blade adds up! Second, you must consider how much time and money you really are ready to spend on your lawn. The higher the maintenance lawn, the more you will need to put into it. This is a very important factor. Third, your specific growing conditions will affect which seed you should choose. Things like the amount of sun, shade, rain, soil type, humidity and moisture can affect how your lawn grows. Finally, what will you be using your lawn for? Your investment may differ if you lawn is a play area or for show, or even for erosion control.
First things first. Before you can care for a lawn, you must plant one. And, there are several things to keep in mind when choosing what type of grass seed to purchase. This is because that grass seed can grow into very different lawns. This difference could mean a lawn filled with pests and weeds, or one that is low maintenance and looks great. Here are some factors that you should take in consideration while in the seed aisle at your local home and garden store.
Once you determine these needs, you will be armed with the information you need to make you decision on your seed. It all grows up from there! And, if it grows, it must be mowed.
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