Shall-Ching Lu

I found the best deal with new homes in Las Vegas with Richmond American Homes. There are several reasons why this is the best deal for now.

*Builder offer 5% towards closing cost. This will lower your monthly payment.

*Builder pays for home inspection, home warranty, HOA doc fees thus no out-of-pocket expenses except for appraisal fee of $450. Buyer saves a total of $900.

*Builder offers $7,500 towards upgrades. This can be applies to adding a bedroom for certain models, adding granite, stainless steel appliances, oak railing. Buyers can pick and choose upgrades for the home.

Here is a comparison of purchasing a bank owned home vs. a new home.

*Monthly payment for a $150,000 bank owned vs. a $165,000 new home is a difference of $15 a month

*Paying $5,600 in closing cost for bank owned vs. $0 for new home

*Paying $900 more buying a bank owned vs a new home

*20% downpayment is $3,000 more for a new home than a bank owned because of price points

*Both homes will rent for an average of $1,200 monthly in Las Vegas

In 2007 I quit a management position at a large financial services company. My goal is to be an entrepreneur, do what I want to do when I want to do them. After working 10 years in the corporate environment I did not enjoy the freedom to apply skills and learn new skills. I want to help people in my own way. Instead I turned to real estate and became a full time dedicated agent. Real estate experienced extreme price drop in 2007, 2008 and started to stabilize in 2009.

With many people unsure of the housing market, bank foreclosing on homes, I struggled in for two years in a new profession. Positive thinking with long term vision helped me through all the obstacles I faced. There were many sleepless nights thinking how I will pay for my mortgage payments, will I loose my house, where my next paycheck is coming from. The thought of having a life of my choice, the freedom to build the business I choose, and with the support of my family and friends I made it to 2009. This year has been phenomenal. Everything I took on made sense now. The hard work, the persistence, the endurance all paid off. This year thus far I sold 19 houses in the Las Vegas housing market hit hardest in the country. Home prices dropped 50% to 60% yet I am doing better than just surviving. I am rocking! My project annual income will be equal if not surpass my income in 2006 when I made almost 6 figures. The sky is the limit in real estate. I am looking forward to the years to come. This is the beauty of going after your dreams.

Home Maintenance Guidelines Fall Maintenance Reminders:

As Fall approaches you can take a few key steps to ensure your home serves you well through the coming months. Please take to check these items in and around your home and attend to any that need maintenance.

Clean and test smoke alarms. Test and reset ground fault circuit interrupters (GFCI) breakers. Change and clean the air filters every 30 to 90 days. Caulk and paint minor drywall cracks. Operate the heating system. Adjust registers and confirm that cold air returns are clear of furniture or draperies. Adjust or replace weather stripping on exterior doors; as needed.

Check the fit of exterior doors; thresholds are adjustable. Check caulking, inside (sink, tub & shower) and out, and touch up. Review safe fireplace operation. Check garage overhead door, tighten bolts as needed, and lubricate springs with motor oil. Have other repairs done by professionals. Winterize PBV valve in case of below freezing weather. Remove and clean the screens in all faucets. Clean gutters, check downspouts; confirm that splash blocks drain away from house. Check foundation, concrete and yard for settling; fill in as needed for positive drainage. On pleasant days, open windows to allow house to breathe. Decorate safely for the holidays. Do not overload circuits or use worn extension cords.

Other Maintenance Reminders:

Every month run water in unused bathroom sinks so the P-traps do not dry out. Every six months check under all sinks for possible leaks. Pay special attention to hand sprayers; they can potentially loosen as a result of use. They should be hand tightened. Reminder, assure Atrium brand windows are always completely closed before attempting to lock. Always maintain interior temperatures at 75/winter and 85 summer/ whether the home is occupied or not, this will help to avoid excessive drywall cracking.

Tomorrow October 24th is the Magnet School Fair taking place in Henderson, NV. Magnet schools are run by lottery, available to middle schools. Students from across the district may apply to a magnet school/magnet program regardless of the region in which they reside. The purposes of magnet schools/magnet programs are to improve student achievement, promote diversity, and create an awareness of career opportunities relative to the fields of study in which students may be interested. Magnet school fair will take place at the following location. Students applying for the program must fill out an online application via the website http://magnet.ccsd.net.

Galleria Mall
10:00 a.m.- 5:00 p.m

1300 West Sunset Road Henderson NV 89014

For more information on Magnet schools please visit the following website http://schools.ccsd.net/jomackey/magnet.htm Here is a list of Magnet Schools. Most of these schools are located in the North or east of Summerlin.

• Academy of Mathematics, Science and Technology at Bridger Middle School (89030)
• Academy of Science and Mathematics at Hyde Park (89107)
• James Cashman Middle School Academy of Engineering Studies (89102)
• K. O. Knudson Middle School Academy of Creative Arts, Language and Technology (89104)
• Robert O. Gibson Middle School Dual Language Immersion and Leadership Academy (89107)
• Roy W. Martin Middle School International Baccalaureate Middle Years Program (89101)

September month Las Vegas home sales are summarized below.

* 3,785 sold units single family homes; 400 more units than September 2005.
* Medium home price $138,000; a 2% increase from August.
* 5,087 new units listed single family homes.
* Medium condo prices lowered slightly to $65,720 a drop of 1% from August.
* Medium rental price is $1,150.

The current status of the housing market is stable inventory with multiple offers on every single home on sale right now. There is so much competition that homes are selling way above list price. Due to multiple offers on each property, banks are taking longer and longer to approve leaving many buyers waiting. I do not anticipate home prices falling any further. We are anticipating more and more short sale volume than bank foreclosures. Because for every home not foreclosed the government is paying banks $2800 per house. Thus if bank has 100,000 homes in short sale that's alot of money. I'll keep you updated on the Las Vegas housing market.

For questions on the Las Vegas market contact me at 702-212-2288. My team and I have sold over $2,618,000 in sales volume thus far this year. We are your trusted advisor in the city!