YOUR LAS VEGAS EMPTY NEST IS A VOID UNTIL YOU FILL IT
You’ve watched as your little ones grew from stumbling toddlers into young adulthood… and now out into the world on their own. It’s been a slow transition—but it’s also sped past in the blink of an eye! The bumpy economy may yet prompt some extended Las Vegas home stays in the future, but for now, the empty nest is suddenly a reality. So now what? For most parents, the onset of your own Las Vegas empty nest comes at a time when emotions are decidedly mixed. There is the satisfaction of the child-rearing project well done—perhaps a measure of astonishment at the personal time that has now amazingly been liberated—but also undeniable tinges of loss and anxiety. The anxiety part is familiar (what parent hasn’t lost sleep as their offspring gradually ventured further and further from the not-yet-empty nest)? The sense of loss is new, however. Letting go without getting down in the dumps is not easy for everyone. We’ve heard it called the “empty nest syndrome,” which may not be a clinical diagnosis, but it’s a condition with easily relatable symptoms. Las Vegas homeowners with newly vacant rooms and a suddenly quieter environment may find that it takes a while to get past feelings of emptiness. Psychologists recommend allowing time to adapt to the sudden change of role; some say it can take as long as 18 months to adjust fully. There’s no huge rush—they say, “be gentle on yourself.” Moms seem especially prone to the negatives of going from motherhood as the primary role to …??? To the extent that an empty nest creates a loss of role, recognizing the array of newly opened positive possibilities is an antidote. Sooner or later, it’s going to be time to reclaim your space! Just pick your plan of action, for instance— Create a gym: Use the space for something positive that will benefit the whole family. Has there ever been a better time to lose those extra pounds and get into shape? Turn your hand to meditation: Create a relaxing space to unwind, meditate or practice yoga. When you take active steps to find your pathway to a positive frame of mind, the journey itself can be hugely restorative Turn fallow space into a creative den: Do you have a book in you that is just itching to get out? Did you once abandon the promise of an artistic pursuit because there just wasn’t enough time or the right space? Well, hold on! Here it is! Rent out the spare room: Think about turning your Las Vegas empty nest area into a rentable space—or, if you’ve ever enjoyed the hospitality of a stay in a home-based bed and breakfast (and hankered to do some homespun inn-keeping yourself), consider the possibilities for transforming the whole place into a welcoming B&B. Vacation rental website AirBnB.com has gained worldwide popularity as the new ‘go-to’ booking vehicle for renting out a furnished room (or house) on a short-term basis. Plan for that big road trip: Empty out the room, pin up the map and start planning that road trip, Alaskan cruise or trek across South America. Why wait any longer? An empty nest may create a vacuum—that is, until you let life rush in to fill it! If filling your own Las Vegas nest opens up some promising real estate prospects, I’m standing by to see how I can help you make them happen!
LAS VEGAS HOMEOWNERS SEE US HOME SALES PEAK FOR 2014
In TV commercials, the idea is to get the point across as economically as possible. That’s why, when the theme is a thriving business, they show a graph with lines that move up (often at an angle that would worry a mountain goat). It makes for an easily grasped, direct message. Alas, graphs showing Las Vegas home sales never seem to show such neat, orderly trajectory—and that’s for any number of reasons. For instance, if some closings happen to be delayed by a day or two for clerical reasons, they may show as having fallen out of one month, only to show up the next. The real world is like that. Keeping track of national home sales numbers is subject to the interventions of that same stubbornly real world, of course; so when home sales registered a slight drop in August, few seasoned analysts saw it as an emerging trend…or so it seemed. That reading was confirmed when it turned out existing U.S. home sales notched the fastest pace of the year in September. Commentators who had been noting the August falloff picked up on the shift quickly. A few gleanings: “…existing home sales increased 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last,” –Reuters “…single-family homes, townhomes, condominiums and co-ops, increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million in September from 5.05 million in August. Sales are now at their highest pace of 2014”–the Realtor® “…Sales in September were up 17% from a year earlier…in the U.S. rose…to a seasonally adjusted annual rate of 467,000…”–The Wall St. Journal Area homeowners have been hoping that the continued level of low mortgage interest rates would spur home sales in Las Vegas, especially now that regulators are working on relaxing tough regulations that have discouraged lenders from issuing loans to any but the most prime credit risks. Young people and others with less than stellar credit have sometimes found themselves eyeing those low rates, but frustratingly unable to take advantage of the situation. It has been a real weak point in the housing rebound, so opening up the mortgage spigots would allow many first times Las Vegas home buyers a chance to enter the market. In case you have a rooting interest in the Las Vegas home sales picture either as potential buyer or seller, don’t hesitate to give me a call to discuss the outlook for this fall and winter.
BUYING A HOME TO RENOVATE CAN BE A TRUE BARGAINOR NOT
For many decades, Hollywood has made box office gold creating comic films about the hilarious possibilities that nightmarish house remodels present. From Mr. Blandings Builds his Dream House to The Money Pit (and even Under the Tuscan Sun), audiences delight in the shifty tradesmen and rotting timbers that define the genre. If you’re an energetic Do-it-Yourselfer without much remodeling experience, Job One is to gather professional opinions to minimize the likelihood of costly discoveries. But before you even get that far, there are some general concepts that veteran turnaround investors know. These are disqualified that make it much more likely that buying a home in Las Vegas will be a shrewd investment instead of dollar demolisher. Bad house, bad neighborhood Is it worth buying a fixer-upper in a rundown or otherwise somewhat undesirable neighborhood? It can be tempting—especially when the asking price makes buying such a home a seemingly unbelievable value. But ignoring the ‘location, location, location’ truism is risky business. In many cases, such an investment may yield a diamond in the mud—a renewed structure that will never rise in value until the whole neighborhood rises in value (that could never be ). Safer choices will be found in neighborhoods that don’t need remodeling themselves. Bad house, good intentions Buying a home in Las Vegas—especially when the neighborhood is fine, and the price is more than right—can give rise to overly emotional decision-making. It can be tempting, when a property is almost okay, to make an instantaneous decision…but if you find yourself making excuses for this or that drawback, or finding yourself indulging in a bit of wishful thinking here and there, take a breath! Hopeful eyes may easily transform to fixer-uppers into mansions, but that’s the only time ‘easily’ will apply. Buying a home that needs major renovation is a probable mistake for home buyers who are uncertain about the money, time, or construction expertise that lie before them. A realistic mindset is the first ‘tool’ you need as you transform a fixer-upper into a winning investment. Bad house, bad budget Sometimes, buying a Las Vegas home as a fixer-upper seems exciting not for the challenge of the remodel but simply because you can’t afford that much house in any other way. Sure, fixer-uppers offer the tantalizing prospect of more house for less money—but down-to-earth budgeting for big repairs such as a new roof, a cracked foundation, or all-new floors will produce a realistic bottom line. Sometimes less house (but a good house) is the call that yields a lot more restful nights! Bad house, bad house Finally, buying a house that seems like a fixer-upper—but would more accurately be called bulldozer fodder—is pretty easy to avoid. If your home inspector tells you about critical issues with a home’s bones (foundation, roof), infestations, or dangerous wiring issues, it’s most likely one of those. Have faith: your home is out there! Remodels can be (in fact, often are) great investments. With a clear vision and a savvy team, you could be one renovation away from your dream home. Give me a call to check out the best of today’s Las Vegas prospects.
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