VA loans have made a comeback in recent months. We have not seen VA loans much during the Las Vegas real estate boom. But, with recent mortgage problems and challenges for buyers trying to take advantate of our “buyers’ market,” VA loans are a great choice for qualified buyers. In general, eligibility is limited to active and retired military personnel, as well as those who served in the National Guard or Reserves. The loans can be used only for single family residences, multi-family properties of 104 units, condominiums and townhomes. All income must be verified by W-2 forms, or, if self-employed, with full tax returns. Employment records must be verified. The Certificate Of Eligibility and a VA assigned appraisal are the major differences between VA and other loans. The advantages to the veteran are several: no down payment is required, no mortgage insurance premiums are needed and the buyer has a right to prepay without penalties or to assume an existing mortgage. Seller concessions of up to 4$ are allowed. Loan amounts have increased to $417,000, and in higher priced areas like Hawaii and Alaska, the loan limit is up to $625,500. For disabled veterans, property taxes may be reduced, as my VA funding fees. The applicant’s actual credit score is not considered, as with conventional loans. The VA looks at the last two years of payment history, judgments and tax liens and collection accounts. Bankruptcies must have been discharged for 2 years. The VA requires a funding fee of 2% of the loan amount, which can be rolled into the loans. So, for eligible buyers, this is a great way to take advantage of today’s low home prices. We have a lender who specializes in VA loans, and you can talk with her with no obligation. Just call us at 1-888-876-8383 or email terrilvp@cox.net. Las Vegas Properties
Las Vegas’ economic forecast is more positive than the recent news about foreclosures and the negative impact of the residential real estate market. The Las Vegas retail sector is strong, with millions of square feet of upscale retail development planned for the next few years. Las Vegas has recently become known as one of the most upscale and growing retail markets in the country. The growing population and strong tourism business has lured national retailers to open stores in the Las Vegas valley. The Grand Canal Shoppes in The Venetian, Shoppes at Palazzo, Fashion Show Mall, Town Center and Summerlin Centre (currently under construction) are among the upscale retail developments. City Center, Boyd Gaming’s Echelon High Street Mall and the recently announced retail shops at the M Resort will add new shopping venues to Las Vegas. The downtown Union Park, near the Fremont Experience, plans to add 475,000 square feet of retail space, in its mix of a upscale hotel, new office buildings, cultural centers and condominiums. The former Lady Luck hotel and casino is also a potential 200,000 square feet retail and entertainment development. At the recent International Council of Shopping Centers’ annual convention, the outlook for Las Vegas was among the strongest in the nation, with retailers looking toward the anticipated growth in employment and population over the next 2 years. These developers’ plans show that the economic forecast for Las Vegas is strong and positive. If you would like more details about developments currently under construction, or in the planning stages, call Las Vegas Properties at 1-888-876-8383.
There has never been a better time to purchase a new home in the Las Vegas area. Prices are lower than they have been in 5 years and, for the first time in many years, developers are offering great incentives to buyers. In some of the most popular areas of the Las Vegas valley, such as Summerlin, Henderson and the new and growing city of North Las Vegas, incentives can go as high as $50,000 for some new homes. For example, in The Ridges of Summerlin, one developer has reduced pricing on his homes more than $50,000 from the base price for the same model offered 4 months ago. In addition, buyers can receive cash towards closing costs, upgrades and buying down already low interest rates. And, contrary to how the media addresses financing problems, we do have some great loan programs available to buyers. Every buyer should be represented by his or her own Broker in the purchase of a new home, as the sales agent at the development is working only for the seller/builder. And, in many cases, the sales agents do not offer the incentives and price reductions that we, as Brokers, know about. So, if a new home is what you are looking for in your next home, or if you are a first time home buyer, call us today. We have current listings of more than 300 sales tracks in the valley, with current inventory and incentive programs. Don’t miss out on the timing of some great opportunities. Call Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.
TIC Properties are an ideal way for individual investors to become involved the commercial real estate arena. 
TIC (Tenant In Common) PROPERTIES are institutional-grade commercial real estate properties designed to be cash-flow investments. The transactions are pre-packaged for individual investors, with all of the due diligence completed and ready for buyers’ review. Professional property managers are in place, tenants are in place and the properties have the beneficial non-recourse loans negotiated and in place. Each investor will receive a deed and all rights of ownership, but he/she will be one of several owners of the specific property. Each investor will own a percentage interest and all investors will gain their percentage interest of the monthly cash flow, the tax benefits and, when the property is resold, each will also gain his percentage interest share of the proceeds of the sale, in addition to return of his initial capital investment. Benefits of TIC ownership are that investors have no day-to-day involvement with the property or tenants. TIC properties also qualify for the IRS 1031 Tax Deferred Exchange as “like-kind” property, which is beneficlal to investors who have sold another income property in order to acquire a position in a TIC property. If you are interested in the other factors that affect the 1031 Tax Deferred Exchange, or if you would like a list of available TIC properties and their investment requirements, contact Las Vegas Properties at 1-888-876-8383.
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