2-story home for sale in Las Vegas NV in Nevada Trails with 4 bedrooms pool-sized yard near Rhodes Ranch golf course, St Rose hospital, Beltway i-215

www.LVRealDeal.com
Email: theRussianRealtor@gmail.com
Cell: 702-498-2664
Marina Gulakova

2-story home for sale in Las Vegas NV in Nevada Trails with 4 bedrooms (one huge bedroom downstairs) pool-sized yard near Rhodes Ranch golf course, St Rose hospital, close to Beltway i-215 and Sierra Highschool. Large lot, granite counter tops with fancy back splash and breakfast bar, woodfloors on the first floor, master suite features separate bathtub and a shower. Open and airy floor plan and vaulted ceilings.

Offered for $199,900
FHA loan
Purchase price $199,900
Down payment (3.5%) $6,997
Loan Amount $192,903
Interest rate * 5%
Principal & interest payment $1,089.75
Taxes & insurance (approx) $479
Total payment (P.I.T.I) $1,568.75


Conventional loan
Purchase price $199,900
Down payment (20%) $39,980
Down payment (10%) $19,990
Taxes & haz insurance (approx) $276
Interest rate * 4.875%
Loan Amount @ 80% $159,920
Loan Amount @ 90% $179,910
Total payment @ 80% $1,122.31
Total payment @ 90% $1,372.10

*Rates may vary based on specific borrower qualifications* *No Prepayment penalty* *Rates are subject to change due to market fluctuations and borrower's eligibility* *Rates are based on an approved credit*

Luxury tri-level home for sale in Las Vegas NV guard-gated community in The Lakes:5 bedrooms,4 car garage, large lot, pool and spa, granite counter to

Offered at $525,000

Conventional loan 30 year fixed rate
Purchase price $525,000
Down payment (20%) $105,000
Taxes & insurance $758
Interest rate * APR * 5% * APR 5.185%
Loan Amount @ 80% $420,000
Total payment @ 80% $3,013

*Rates may vary based on specific borrower qualifications* *No Prepayment penalty* *Rates are subject to change due to market fluctuations and borrower's eligibility* *Rates are based on an approved credit*

IT IS NOT THE BUYERS' MARKET!

Although the media screams that it is the buyers' market, I have to convince every one of my new clients that IT IS INDEED NOT true. On the opposite, it is very closely controlled by the large banks-sellers that were "saved" by the Government, aka "We the People", from being illiquid and not able to lend. They control the inventory and the prices. Yes, oh yes, it is, unfortunately, the truth about Real Estate nowadays. Banks control buyers AND sellers through short sales. So, here you have it- full control of the marketplace. Don't take me wrong- you still get a low price and a great deal but you DO NOT get to negotiate your terms or conditions; on the opposite, if you do not play by banks' rules, you don't get to buy a bank-owned home or a short sale, which are the majority of the inventory.

Clients often ask me why banks do this and don't do that. The scream in despair: "It is unfair!" Who said anything about business was fair? The law protects a buyer or a seller to some extent but the rest is being set by the marketplace. At this particular moment, the banks are the monopoly in the market and they control prices, terms and who buys and who doesn't. Whether you agree with it or not.

It is not surprising whatsoever. As a matter of fact, the market is ALWAYS controlled by someone. It is not a free commerce like the Government tries to fool us into thinking. It was set up like that and remains till now. It is controlled by powerful group of people that make money manipulating the unaware general public. I have nothing against them and I am not preaching they are bad, I am just trying to portray the situation as it is.

There's a great quote that was said by James Garfield, the 20th President of USA, back in 1881:

"Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."

I think it just explains it all.

My property taxes are outrageous!!! What to do?

You buy your very first Las Vegas home and notice that your property taxes are really high. What should you do? It's been an issue for many buyers.

The Assessor will be using all sales up to July 1 of the year before the tax year. For example, for the 2009/2010 year, the Assessor used sales up until July 2008. You can call County Treasurer's Office (702) 455-4323 to find out when the next re-assessment is going to take place and what the assessed value is going to be.

If, in your opinion, the taxable value of your property exceeds the value indicated in the real estate market, please call (702) 455-4997 or come in to the Assessor's Office and discuss your appraisal with an appraiser. The Assessor welcomes the opportunity to review any evidence you can provide that will show the valuation exceeds market value. If, after discussing the matter with the Assessor's staff, a difference of opinion still exists, you may appeal your assessment to the County Board of Equalization. You may obtain the appeal forms from the Assessor's Office during the month of December until the deadline for filing, which is January 15 unless it falls on a holiday or weekend, which then would make the deadline the next business day. Completed forms must be returned to the Assessor's Office by the appeal filing deadline date. Please call 702-455-3891 to have an appeal form mailed to you. The forms are relatively easy so you may represent yourself rather than incur legal expenses.

The Nevada Legislature provides for property tax exemptions to assist individuals meeting certain requirements. Some of these include veterans, disabled veterans, surviving spouses, and blind persons. Nevada also offers a Senior Citizen Tax Assistance/Rental Rebate program to persons 62 years of age or older.

You can read more at: http://www.accessclarkcounty.com/depts/assessor/pages/valuenotice.aspx

Hope that helps!

WHAT IS SID/LID? WHY SOME COMMUNITIES IN LAS VEGAS HAVE THEM?

Special assessment for improvement (SID for short and LID is Land Improvement District and applies to Henderson) is a charge financed by the County in the form of bonds to the developer or (homeowners) of the community for the formation of the streets, curbs, lighting, gutters and driveways. It is pretty much a very convenient way for developers to pass on the cost of development to the County and this allows the County to collect interest from financing charges from the future home owner.

The classic example of this use is in Summerlin. Summerlin is a massive Master-planned community, currently the largest in Southern Nevada. When the developers came up with the plan and where the roads, parks, etc. were going to come in instead of paying for the roads and improvements themselves, they acquired bonds from the county and put a rate on each new home that would be built in the community. Basically, without getting too complicated and technical, the County fronted the money to the developers and the developers passed this charge on to the future homeowner. The new homeowner is assessed an amount with interest and pays this charge semi-annually.

In Development, these charges are called "hard costs". If a community is going to be built, then there are requirements such as building streets to the properties. Generally, the developer pays for this and passes on the charge to the new homeowner.

In a Special Improvement District, the charge is financed by the County and then passed on to the homeowner plus interest.

Regardless, whether the charge is added on to the home when the New Summerlin Home Owner buys it or if it is added in the form of a SID afterwards, the charge will be passed on to the New Home owner regardless.

However, there are some major benefits to the way the SID is set up. You'll notice a big difference in the quality of roads and maintenance within a Special Improvement District. Our opinion on this is that the roads and improvements are done by private companies hired by the developers and not overlooked by government agencies. Instead of taking six months to work on a road, it is done in 2 weeks. Very rarely within the community of Summerlin will you see road work being done that takes a year to do; unlike other areas of Las Vegas that do not fall within a Special Improvement District.



It’s set up originally at that amount, but the payoff is less than that. Here’s the link to it: http://amgnv.com/parcelsearch_results_detail_non_pop1.asp?searches=&menu=7&Dist_ID=7051&PARCEL=13726314002

HOME MAINTENANCE TIP

Conserve Water and Reduce Pocketbook Pressure!

You may love the forceful flow of water at your faucets, showerheads and toilets, but did you know that installing low-flow aerators could cut your annual water consumption by more than half? You can also conserve water and save money on your water bill just by adopting a few new habits:

* While waiting for water to warm up, catch excess water in a bowl or bucket and use for houseplants or pets
* Only run the dishwasher when it is fully loaded
* Instead of using the in-sink garbage disposal, compost your food scraps
* Simply cutting your shower by 2 minutes will save 1,000 gallons a year!
* Turn off the water while you brush your teeth, shave, and while you lather up when washing your hands.

Not a bank-owned or a short sale!

New Housing Benefit for Culinary and Bartender Workers!

New Housing Benefit for Culinary and Bartender Workers!

If you are a worker covered by the Culinary and Bartenders’ union contract, then you are eligible for a new housing benefit that helps gaming workers obtain the dream of homeownership. Established as a result of the 2007 collective bargaining agreement, the new Culinary and Bartenders Housing Partnership provides the following benefits:

Homebuyer education and counseling

Workshops on foreclosure prevention

First-time homebuyer down payment loans

The State of Nevada Housing Division has joined with the Culinary and Bartenders Housing Partnership to provide up to $20,000 in loans for a down payment on a home. Key elements of the program include:

• The loan has a zero-percent interest rate and is repayable when you sell or refinance your home.

• You must live in the house you buy (no second homes or vacation homes).

• You must contribute 1% of the purchase price of the home.

• Your household income cannot exceed $76,680 for a 1-2 person household, or $89,460 for a household with three or more persons.

• You must complete an 8 hour homebuyer education course.

• You must qualify for a home mortgage from a lender.

• Funds for this down payment assistance program are limited. Down payment loans will be approved for qualified buyers on a first-come, first-serve basis.


TO GET MORE DETAILS,

PLEASE CALL ME WITH MORE QUESTIONS

STIMULUS BILL - $8,000 FOR HOMEBUYERS

Final score: $8,000 for homebuyers

First-time purchasers get a tax credit windfall if they buy before December.

By Les Christie, CNNMoney.com staff writer
February 16, 2009: 5:38 PM ET

NEW YORK (CNNMoney.com) -- There's a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama's signature on Tuesday. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.
A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of withholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount. But there has been a lot of confusion over this provision. Adam Billings of Knoxville, Tenn. wrote to CNNMoney.com asking:
"I will qualify as a first-time home buyer, and I am currently set to get a small tax refund for 2008. Does that mean if I purchased now that I would get an extra $8,000 added on top of my current refund?"
Not exactly. Billings won't get $8,000 on top of his current refund, but he would turn that small refund into a much larger one. If his total tax liability came to $6,000, but he had $7,000 withheld from his payroll, he would normally receive a $1,000 refund. With this credit, his refund would total $8,000. If the credit were non-refundable, as was originally proposed in the Senate version of the stimulus package, he would have only received $6,000, or the total amount he paid in.
To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
Lukewarm reception
The housing industry is somewhat pleased with the result because the stimulus plan improves on the current $7,500 tax credit, which was passed in July and was more of a low-interest loan than an actual credit. But the industry was also disappointed that Congress did not go even further and adopt the Senate's proposal of a $15,000 non-refundable credit for all homebuyers.
"[The Senate version] would have done a lot more to turn around the housing market," said Bernard Markstein, an economist and director of forecasting for the National Association of Homebuilders (NAHB). "We have a lot of reports of people who would be coming off the fence because of it."
Even so, the $8,000 credit will bring an additional 300,000 new homebuyers into the market, according to estimates by Lawrence Yun, chief economist for the National Association of Realtors.
The credit could also create a domino effect, he said, because each first-time homebuyer sale will lead to two more trade-up transactions down the line. "I think there are many homeowners who would be trading-up but they have had no buyers for their own homes," Yun said.
Who won't benefit, according to Mark Goldman, a real estate lecturer at San Diego State University, are those first-time homebuyers struggling to come up with down payments. The credit does not help get them over that hurdle - they still have to close the sale before claiming the bonus.
Instead, many may look at the tax credit as a discount on the home price, according to Yun. A $100,000 purchase effectively becomes a $92,000 one. That can reassure buyers apprehensive about purchasing and then watching prices continue falling, he added.
And it provides a nice nest egg for the often-difficult early years of homeownership, when unexpected repairs and expenses often crop up. Recipients could also use the money to buy new stuff for their home - a lawnmower, a rug, a sofa - and, in that way, help stimulate the economy.

February Newsletter

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