Market Updates - Vivid Realty | Las Vegas Real Estate

Las Vegas Mansions

What is a mansion? Do grandiose visions of stately residences with lush landscaping, sweeping staircases, and ballrooms dance come to mind? Perhaps you think of the luxurious house in the neighborhood, complete with lavish amenities like an infinity pool, wine cellar, four-car garage, and incredible views. So what is a mansion? Let's explore the definition of a mansion and what makes a property a mansion. If your definition is based strictly on size, you'll find that there is no expert general. According to reference.com, a general rule of thumb is approximately 5,000 square feet; however, most Realtors© don't call a home a mansion unless it is 8,000 square feet. Merriam-Webster's definition is even less definitive, stating that a mansion is "a large and impressive house: the large house of a wealthy person." What is considered a mansion? As for the mansion definition, real estate agents don't often use the word "mansion" in listing descriptions unless it's…

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November 27, 2021

Read more about the article Don’t be Upset about 3% Mortgage Rates

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Buyers / Buying / Mortgage

Don’t be Upset about 3% Mortgage Rates

Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will increase further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The graph below shows today’s rate in comparison to average rates over the last five years:As the graph shows, even though today’s rate is above 3%, it’s still incredibly competitive. But today’s rate isn’t just low when compared to the most recent years. To truly put today into perspective, let’s look at…

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November 11, 2021

Buyers / Buying / Henderson / Luxury Real Estate / MacDonald Highlands / Sellers / Selling

Luxurious MacDonald Highlands Homes

MacDonald Highlands is one of the highest points in the Las Vegas area. It is situated at the edge of the McCullough Mountains in Henderson, Nevada. Developed by Rich MacDonald, MacDonald Highlands is a 24-hour guard-gated subdivision of the MacDonald Ranch Master Community. MacDonald Highlands is 3 miles South of I-215 and offers spectacular views of Henderson and much of the greater Las Vegas valley. Prestigious homes are clustered around Dragonridge Country Club. The distinctive course capitalizes on its desert setting, with canyon vistas, rock croppings, arroyos, and elevation changes highlighting its design. While most homes are single-family custom designs, the gated community also offers luxury townhouses and condominiums. Below is a list of available homes in MacDonald Highlands. Please bookmark this page as the available real estate listings will update daily. To schedule a private showing please call/text Courtney Kohler at 702-600-5996. MacDonald Highlands Real Estate Are you looking to buy your…

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November 2, 2021

Pricing / Sellers / Sellers Market

What’s an iBuyer?

Today's new real estate player is 'institutional flippers' more commonly known as the iBuyer, or 'instant buyers.' We have all seen the "We Buy Ugly Houses" or "We'll Buy Your House for Cash in Seven Days" on the side of the road. Those signs usually come from independent flippers, but other more prominent recognizable brands like Zillow Offers, Offerpad, and Open Door are considered iBuyer's. Wondering how they work? Read below: A homeowner fills out the information about their house on the iBuyer website. The company sends them an instant offer within a day or two, and the seller can choose to accept or reject it. An iBuyer's proposal promises that selling to them is a more straightforward, easier way to sell your home than a traditional sale. They say they are a quicker and more convenient way to sell a house because all the seller has to do is accept their…

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October 11, 2021

Buyers / Buying / Ownership

7 Reasons to Own a Home

7 Reasons to Own a Home 1. Tax benefits. The US tax code lets you deduct the interest you pay on your mortgage, property taxes, and some of the costs involved in buying a home. 2. Appreciation. Historically, real estate has had a long-term, stable growth in value. According to the National Association of Realtors, median single-family existing-home sale prices have increased on average 5.2% each year from 1972 through 2014. The number of US households is expected to rise 10-15% percent over the next decade, creating continued demand for housing. 3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home. 4. Savings. Building equity in your home is a ready-made savings plan. When you sell, you can generally take up to $250,000 ($500,000) for a married couple) as gain without owing any federal income tax. 5. Predictability.…

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September 15, 2021