Stabilizing Las Vegas Real Estate Market?

Posted by Robin Camacho | Uncategorized | Friday 27 January 2012 6:21 PM
Home prices continues to show some signs of stabilizing thanks to the rush of buyers and out-of state investors. Last year alone home sales for bank owned homes inclined significantly.
If you refer to the graphs, you can see that the percentage of houses being sold has been the highest in the past five years for both condos and single family homes. As a result of the increase in sales, inventory for homes decline over the past year. In fact, the national level of home inventory dropped 22% from a year ago. Las Vegas is selling!

However, don’t expect the inventory to keep on dropping.There’s currently a steady flow of foreclosure that have been keeping the prizes low. Salestraq president predicts a good amount of foreclosures in 2012 “because about 1/4 of our housing stock is still in default.” You know what this means… if there are more homes at default there should be more short sales and REOs in the market.

If Salestraq is right, there might be more investors in the market keeping the prices low for the rest of the year. Cash investors can offer a reliable income and closing time for banks, giving them the advantage of getting a lower bid accepted. Homes being sold below market value due to cash purchases affect the rest of the Las Vegas market by keeping prices low.

Even if you are not an investor and you still have yet to take advantage of the market, there’s still time. Mortgage rates continue to break records and standards have loosen up a bit this new year to try to stimulate the market.

Questions & comments are always welcome!  
For more real estate updates, “like” Neighborhood Realty‘s facebook page. 

Or to read the original post visit Neighborhood Realty’s Blog

-Tracy Castro

sources:, CNNMoney, Salestraq
Graph provided by: Greater Las Vegas Association of Realtors

As A Homeowner, A Property Profile is Beneficial

Posted by Robin Camacho | Uncategorized | Friday 20 January 2012 6:22 PM
Real estate agents use property profiles or comps to provide information on properties and the neighborhood to both buyers and sellers.Why would you need a property profile?A property profile helps you see how a property stacks up compare to other homes and what the neighborhood has to offer!

  • *what homes are being sold for,
  • *what your home is worth,
  • *what properties are being rented for
  • *what the average workforce is in your neighborhood
  • *demographics
  • *who your neighbors are
  • *the businesses and school near the home
  • *most importantly, what buyers are looking for

If you want to see your property through buyer’s eyes, e-mail to receive a free property profile. You will definitely benefit from the information presented. If you decide to sell your home, one of our Sellstate Neighborhood Realty agents will take full consideration to evaluate your home from withing that may increase the value of your home.

Sample page of Comparables: 















-Tracy Castro

Win A Dream Home!

Posted by Robin Camacho | Uncategorized | Friday 6 January 2012 7:48 PM

Enter this amazing sweepstake for a chance to win the luxuriously furnished HGTV Dream Home 2012, 2012 GMC and $500,000 provided by HGTV.

HGTV Sweepstake reward
For more information and to enter click here.

Happy Holidays!

Posted by Robin Camacho | Uncategorized | Friday 23 December 2011 7:59 PM

May your holiday season and the new year be filed with much joy, happiness, and success. We look forward to working with you in the coming year and for many years to come.


Don’t Let the Listing Price Trick You!

Posted by Robin Camacho | Uncategorized | Tuesday 29 November 2011 8:40 PM

Neighborhood Realty continues to be in the spirit of gratitude. We would like to thank all of the staff, clients, lenders, title companies, insurance companies, and especially our families for making our success possible. Real estate can’t be done by one person, you need a team of people in and out of your company to help a transaction be successful and smooth for everyone involved. Taking that into consideration, as a buyer you should make sure you have the right team working for and with you on your investments.

As your trusted advisors, we encourage you to have a trusted and reputable agent, lender,title and insurance company who will help you navigate the process of purchasing an investment property. Just because a home is bank owned or might be facing foreclosure, it doesn’t mean it is the best deal out there for you. You might be comparing them to what they previously sold for and thinking: wow, I’m saving over $50,000. Please consider what are the rest of the homes being sold for and why, the condition and problems of the others. Have an agent that knows what he/she is doing create an extensive Competitive Market Analysis. He or she will put in as much details of the home, including damages and improvements, to let you know what is the estimated value of the home.

The best advice I can give you is to think above and beyond the listing price. A home that is selling at a lesser price than the home next door might have some hefty expenses attached to it. For instance, that home may not be free of judgments, liens, and there might be improvements that will raise the cost in the future. Are all the extra expenses and time worth it to you? Definitely don’t forget that sometimes banks will not carry some of the closing costs, you might also have to pay that out of pocket as an investor.

Just remember, the cheapest investment deals, don’t necessarily promise the highest return.
For any additional concerns or questions about investing, call our office at 702.949.0790.

Tracy Castro,REALTOR(r)
Neighborhood Realty
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Finding the Best Deals on HUD Foreclosures

Posted by Robin Camacho | Uncategorized | Wednesday 16 November 2011 6:48 PM

With nearly 70% of REOs expected to be HUD-owned homes soon, this is a great time to talk again about the “ins-and-outs” of buying one of these homes. Neighborhood Realty recently sponsored a class on buying HUD homes, and on 203k rehab loans. The class was a real eye-opener.

From a buyer’s perspective, HUD homes are a great way to go if you need to find a home quickly. I can show a buyer a home, write an offer by 10 PM, and have a response the following day. No multiple counter offers, no “highest-and-best” requests, no waiting a week to learn if your offer was chosen.

Many agents find selling HUD homes too difficult. It isn’t difficult at all. I’ve sold HUD homes to several buyers who’d worked with another agent who talked them out of looking at HUD homes. This is a disservice to the buyer and I love it when these buyers call me! Agents who haven’t taken the time to learn how to show and sell HUD homes will often tell buyers “you don’t want to look at HUD homes” when they should be saying “I don’t care to learn anything new”. And therein lies the second reason you should be looking at HUD homes – with fewer agents showing these, there is less competition among buyers.

Every HUD home is listed with a “property condition report” which details any problems the HUD inspection has uncovered. This should not substitute for your own home inspection, but it can be very helpful to know what to look for when you view the home. HUD homes also include an appraisal amount.

So how does one find the best deals? I’ll let you in on a little secret: look at homes in “extended” status. These homes did not sell during the initial bid phase (open to owner-occupants only), and you are much more likely to get an offer accepted for less than list price. It’s best to call and let me help you, but you can do your own research on HUD Homestore if you prefer. When searching properties, select “Investor” as the Buyer Type. This will direct you to houses in “extended” bidding stage.

Many HUD homes are eligible for a 203k rehab loan. There are two types of FHA rehab loans, and I’ll cover this in a future post. For now just know that you have no reason to fear fixer-uppers. In fact, you can have the home you really want with a rehab loan.

If you have any questions, please submit them to my assistant at or post it on Neighborhood Realty’s facebook page.  I’ll be sure to respond as soon as I get a chance!

Neighborhood Realty  


Posted by Robin Camacho | Uncategorized | Wednesday 26 October 2011 5:40 PM

Hello everyone,

Neighborhood Realty has begun producing and distributing an online newsletter.  If you would like to receive them please e-mail me at

Also, if you have any real estate related questions please submit them to me. Robin will be answering and posting these questions on Neighborhood Realty website, which is currently being worked on.

We can’t wait to provide you with valuable tips and information!


Tracy Castro

Marketing Assistant

Neighborhood Realty

Keeping Las Vegas Beautiful

Posted by Robin Camacho | Uncategorized | Thursday 20 October 2011 6:42 PM


As a brokerage that continues to serve our community, we have decided to take part of the next Keeping Las Vegas Beautiful cleaning event.

On November 19th, we will be cleaning up cigarette butts around the Las Vegas valley. We are cleaning up the unnecessary trash around our city, to help keep our communities cleaner, safer, greener, livable, and most importantly to keep the values up of homes for homeowners. The cites are still to be determined, but once we know, you’ll be the first to know.
We hope you can join Neighborhood Realty’s team of professionals keep Las Vegas beautiful!

The Most Advanced MLS Search Ever!

Posted by Robin Camacho | Uncategorized | Monday 10 October 2011 6:09 PM

Neighborhood Realty has discovered the best hidden secret to better our services to you! We are excited to announce that we now are hosting the most advanced MLS search ever offered to the general public.

Our LIVE search gives prospects the opportunity to search homes based on communities, streets, mls#, home size, lot size, days on the market, year built, price changes, property type, features, foreclosure, schools, and much more. With the live map you’ll be able to see exactly where the listings are available and click to view. Not only are you able to view homes that fit your exact parameter, each property page even displays a mortgage calculator, similar homes that are active or have just sold, and the opportunity to schedule a showing in just a few seconds.

Neighborhood Realty is ecstatic to be one of the few hosting this service at no charge to you. Although our website is still under construction, we couldn’t wait any longer to let you experience our MLS LIVE search. To get a sneak preview visit: Neighborhood Realty‘s website.

Let us know if you enjoy it just as much as we do! Your feedback is always welcomed.

The Good News and The Bad News on Las Vegas Home Sales

Posted by Robin Camacho | Uncategorized | Thursday 29 September 2011 6:35 PM

The good news is that we’re selling lots of homes. The bad news is that we’re selling lots of homes. While 2011 will likely be one of our best sales years on record, the rush to buy Las Vegas homes at these prices is creating multiple offer situations. The resulting competition usually spells higher prices for the buyer who’s offer is eventually selected.

Jackie and Kaden just had their offer rejected at $14,000 above list price. It was a good, clean offer. And one of 14 offers presented.

Some homebuyers feel that the banks are staging “bidding wars.” It can feel like this, but it’s simply not true. If you had a home to sell and 14 buyers wanted it, would you write 14 individual counter offers and negotiate with 14 parties? Or would you take the approach the banks take, and ask for everyone’s “highest and best” offer, then choose? In a bidding war, the price keeps increasing. In a “highest-and-best” situation, each party has one opportunity to present their best offer. That’s it. There will be no counter offers flying back and forth. The bank will pick the offer that meets its objectives.

Of course, Jackie and Kaden knew this going in. I educate my clients so there are no surprises. They had a chance to offer more. I had advised an offer of $110,000, which was closer to market value. But they offered what they were comfortable with, and didn’t get their hopes up. We’ll find another home.

Allen is in a similar situation. He has already offered $1500 over list price, and we just received a request for his “highest-and-best” offer. In this case, his offer is right at market value. I will recommend that he raise his offer no more than $1500.

There are many homes on the market, but there are buyers lining up to buy nice REOs in good condition. Don’t be surprised if you find that another buyer shares your same good taste. There is also a great deal of competition amongst buyers looking for investment homes that will provide cash flow. If you are looking at a home priced under $120,000, it’s likely that you will face competition if the home is in good condition. It’s almost certain you will if the home is 1-story or has a swimming pool.

If sales slow down later in the year, this should be the best time to buy – you might have your pick of homes at that time. But if sales continue to be this brisk, expect competition.

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