LAS VEGAS INVESTMENT PROPERTIES GAIN ON PERENNIAL RIVALS
It’s the perpetual ebb and flow. Sometimes the popularity of investment properties in Las Vegas begins to rise, sending them toward the head of the pack against rival investment ideas. A Las Vegas investment property’s basic allure has always been its unique attribute as the most “real” of real goods (investment property is pretty close to the very definition of the word ‘substantial’). But as a haven for capital, its place in the pecking order of investment ideas depends a lot on the performance of the competition—especially stocks and bonds. When the predicted long term returns from the stock market begin to look lackluster, or if market factors begin to seem more volatile than usual, investment property gains in comparison. When the uncertainty gage starts twitching upward—and that seems to be happening lately—some of the underlying benefits Las Vegas investment properties offer get renewed attention. Items that register in the calculus— Item: Inflation hedge Because rental rates can rise with (and lately, ahead) of inflation rates in general, that constant worry is less of a factor. Investors factor in the real inflation rate (not always the official one) when they look at their portfolio’s performance. Item: Cash flow Properly managed, a Las Vegas investment property can produce ‘dividends’ that are substantial without diminishing the value of the principal investment. (There’s no board of directors to make sweetheart deals with management, either!). Item: Predictability Investors know that no one can guarantee what the future will bring—but it’s harder to picture a time when people won’t need shelter than one where they won’t be bidding up stocks or bonds. The rental performance of any one Las Vegas investment property may be more reliable than another (a mid-range apartment complex vs. a top-notch luxury residence, for instance); but in overall predictability, investment property rates highly. And then there’s one that’s counter-intuitive: Item: Flexibility Everyone is familiar with the most obvious inherent drawback to investment properties: namely, their relative lack of liquidity. You can sell stocks or bonds rapidly because their markets are comparatively transparent and active. Capital is ‘stuck’ in real estate until buyers appear. But what that analysis doesn’t take into account is that the equity manifested in Las Vegas investment properties can serve as a lower-risk springboard for financing other opportunities. Real estate can be relatively easy to borrow against since its value is less volatile than, for instance, that which buying stock on margin entails—especially when ‘iffy’ market conditions suddenly develop. Furthermore, the deductibility of mortgage interest makes this form of financing less expensive. If this fall finds you reevaluating your portfolio, I can show you some of Las Vegas’s investment properties that offer exciting possibilities. Call me!
LAS VEGAS REAL ESTATE AGENTS HELP NEW BUYERS TAKE THE PLUNGE
Sports divers know something that’s relevant to the first-time home buyer’s decision about whether to enlist the services of a Las Vegas real estate agent. A ‘free diver’ (one without SCUBA gear) who descends into dark, unknown waters and usually finds it’s possible to dive much deeper the second time down. The reason: on the first dive, not being sure what lies down there is a little spooky—the diver’s anxiety causes their heart to race faster, which uses up their lungful of air quickly. The next time down, it’s into newly familiar territory; they don’t run out of breath nearly as quickly. So what does this have to do with buying a house or deciding whether to call a Las Vegas real estate agent? The first time you go shopping for any new item—especially anything with complicated features—requires focus and often patience. If the choices are many, making an intelligent purchase can produce a certain amount of frustration and stress. If this sounds far-fetched, just remember the last time you set about comparing the features and plan options for a new model cell phone. But those demands are trivial compared with the stress level most newcomers experience when they buy their first home. It’s not just that the homes up for sale offer such a variety of characteristics that resist straight-up comparison (although in Las Vegas this fall, that’s certainly true)—it’s also that the whole process of looking, financing, negotiating and closing differs so much from other kinds of purchases. It’s the first time down into murky waters—who wouldn’t feel the stress? And then there’s that one other factor: it’s probably the most expensive purchase they’ve ever even thought about making! As a Las Vegas real estate agent who has helped many a buyer through their first home purchasing experience, I can report that an important part of what I do is to remove a huge chunk of the anxiety that would otherwise grow from the unknowns. Right from our first conversation, by asking the relevant questions that experience has shown will point the way to the most likely candidate properties, the fog of the unknowns begins to lift. Likewise, every part of buying that first home—from locating reliable inspection resources through securing the most advantageous financing alternative—becomes more like a walk in the park than a trek through the wilderness. A Las Vegas real estate agent doesn’t completely eradicate the newness of the experience for a first time buyer, but choosing to tap the resources of an experienced guide who knows the area well is not a hard call. And since real estate agent fees are traditionally paid from the seller’s proceeds, it’s also an economical one! If you’re a homeowner about to dive into your first home sale—or a first-timer on the lookout for a home of your own—I hope, you won’t hesitate to give me a call. I’d like to become your Number One Las Vegas real estate agent resource. And next time out? It won’t be nearly as daunting…but you’ll know who to call then, too!
3 WAYS TO BOOST CURB APPEAL FOR LAS VEGAS HOME BUYERS
Home buyers’ first impressions are visual, and a flawed exterior will turn them away faster than a two-hour wait time at a family restaurant. Las Vegas curb appeal is the same as it is anywhere: when ‘curb appeal’ becomes ‘curb repel,’ the outcome to expect is at best offer numbers lower than they should be. Since major exterior remodels can carry prohibitive price tags, keeping the asking price competitive involves finding ways to brighten up the outside of a home without breaking the bank. It’s doable (and affordably) when you tackle the issue keeping the bottom line in mind. Some ideas: 1. Go for the Deep Clean Cleaning up is the first order of business—but creating true curb appeal may mean being prepared to go beyond the surface. Remove any weeds attacking walkways, then rent a power washer to clean both them and the home exterior (being careful that the power setting isn’t so strong it damages fragile areas). If the gutters look moldy or mildewed, use it on them, too—perhaps with a little mildew-killing solution to finish the job. Important: wash the windows (once your local prospects get past the curb appeal hurdle, sparkling windows are guaranteed to brighten their impression of the inside). 2. Pick Pots A mistake many homeowners made to spend a bundle on landscaping at the last minute. If you’ve devoted years to fostering a well laid-out and cared-for garden, it’s a big plus—but just too expensive to try to create in a few weeks. A pretty yard can certainly help with curb appeal, but it’s also true that not every local buyer will be looking for a gardening experience that involves much upkeep. The budget-minded alternative that can be quite effective? Add the color and curb appeal of flowering plants—but put them in pots. This has the added value of providing local home buyers with green thumbs the general idea of what the yard could look like with their loving care, but without the permanence of established plants. If your home offers a pristine canvas, prospects are more likely to draw their home ideal on it. 3. Numeral-ology You’d be surprised at how difficult some people make it to just to find their home. You need only provide an address that’s clearly visible from the street, to obey the Curb Appeal First Commandment: Thou shalt not irritate thy buyers! Adding big, attractive house numbers in a font that matches the style of the property is a finishing touch whose value far outstrips the cost and effort involved. Curb appeal predictably affects both the speed and bottom line of any sale. When you boost it with just a little bit of time and money, you expand the opportunity to show off the gracious interior of your Las Vegas home. Give me a call anytime—we’ll put our heads together to come up with more ideas to tweak your Las Vegas property in ways that are effective and cost-effective!
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