Roland Buckles

New tax credit for first-time home buyers.

2008-12-30T12:13:00.000-08:00

Tax Credit for first time buyers.

First time home buyers, defined as people who haven't owned a home in the past three years, are eligible to receive an $8,000. tax credit.

Give me a call so I can find you a home today.

http://www.rolandbuckles.com

Las Vegas Real Estate Statistics.

2008-10-14T13:56:00.003-07:00

Date ............................... 06/02/2009 ............ 12/31/2008

Single family homes listed ..........10,520 .....................17,070
Condo's listed .........................2,503 ......................3,279
Townhouse listed .....................915 .......................1,324

Median home price in Las Vegas

$134,000.

Lowest since Aug. 2003

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Frequently Asked Legal Questions. (Nevada)

2008-09-23T13:29:00.000-07:00

Q. The seller received a full price offer on his property. However, he is refusing to accept this offer and says he wants to make a counteroffer for more than the asking price. Can the seller refuse a full price offer and "counter" for more than the listed price?

A. Yes. The seller is not legally required to accept an offer because it is "full price" and he can counter for more than the listed price. An advertisement in the MLS (multiple listing service) or other media is an invitation to make an offer, not an offer. However, the listing agent could bring a claim against the seller for his commission based upon the listing agreement and that the listing broker produced a ready, willing and able buyer on the terms provided for in the listing contract.

Q. If a seller rejects an offer to purchase, must the seller indicate "REJECTED" on the face of the offer?

A. Yes and No... Yes, Nevada law requires that the, licensee shall provide to the buyer or the representative of the buyer written notice signed by the seller which informs the buyer that the offer has not been accepted by the seller. (NAC 645.632).
No, Nevada law does not require that the written notice be on the face of the offer, but the easiest and quickest way to give written notice to the buyer would be to have the seller check the reject box on the offer, sign the form and return it to the buyer.

Q. A listing agent describes an offer to an out-of-town seller over the telephone. The seller verbally indicates his acceptance of that offer, which the listing agent communicates to the buyer. Before the seller receives and signs the original offer, the listing agent receives another offer which the seller wants to accept. Is there a binding contract with the first buyer?

A. No. Although the seller verbally accepted the first offer, under the Statue of Frauds (NRS 111.210) there would not be a binding contract because the seller did not sign the offer. Therefore, the seller would be free to accept the second offer.

Q. If a home does not appraise for the purchase price, can the buyer automatically get out of the contract?

A. The buyer would be able to do so if the contract was contingent upon the home appraising for the purchase price. Most purchase agreements used by local Nevada associations have terms providing for cancellation by the buyer if the appraisal is less than the purchase price. If not, another ground for the buyer to get out of the contract is the financing contingency. If the contract was contingent on the buyer obtaining financing and the buyer can not obtain that financing due to the low appraisal, the buyer could cancel the contract and get a refund of his or her earnest money deposit.

Q. A listing on the MLS had several appliances checked as staying with the property. After the parties closed escrow, the seller took the appliances listed on the MLS stating the buyer did not specify these items on the purchase agreement as part of the sale, so they did not have to leave them. The buyers thought the appliances were part of the sale because they were listed on the MLS. Is the buyer entitled to the appliances?

A. No. Although the appliances were listed on the MLS, the purchase agreement is the legal document that controls the terms of the sale between the buyer and the seller. Unless the appliances were listed on the purchase agreement, the seller was free to take them. Remember the MLS is an advertisement which is an invitation to make an offer. Advertisements are not offers. A buyer must list in his offer everything that he wants to be part of the contract. However, some appliances are fixtures such as stoves, built-in dish washers, built-in microwaves, etc. Fixtures are part of the property and are part of the sale.

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Investment Properties

2008-09-16T13:40:00.000-07:00

With all the bank owned properties selling at pennies on the dollar, it is time to buy investment properties.
The investors are buying all they can find, and the market is going to turn.
Now... is the time to buy. Home prices are at an all time low. Many are under priced and and will soon go back up in price.
Buying at this low price will give you a positive cash flow. Do not miss a once in a life time chance to increase your portfolio.
There are 7 times more millionaires created in a down market.
Do not miss this once in a lifetime opportunity.

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What the "Experts" say about housing prices!

2008-09-07T13:24:00.000-07:00

Sometimes it is hard to discern what is really true about today's housing market. If you are looking for bad news, it is easy to find. But the good news is just as prevalent. Think of what you would have missed if you had listened to some of the "EXPERTS" throughout the years.

"The prices of houses seem to have reached a plateau, and there is a reasonable expectancy that prices will decline"
Time Magazine 1947
(average price at that time: $7,000)

"Houses cost to much for the mass market. Today's average price is out of reach for two-thirds of all buyers."
Science Digest 1948
(average price at that time: $8,000)

"The goal of owning a home seems to be getting beyond the reach of more and more Americans."
Business Week 1969
(average price at that time: $28,000)

"The era of easy profits in real estate may be drawing to a close."
Money Magazine 1981
(average price at that time: $71,000)

"If you are looking to buy, be careful. Rising home values are not a sure thing anymore."
Miami Herald 1985
(average price at that time: $90,000)

"Most economists agree... a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was."
Money Magazine 1986
(average price at that time: $100,000)

"We are starting to go back to the times when you bought a home not for it's potential Money-making abilities, but rather as a nesting spot"
Los Angeles Times 1993
(average price at that time: $145,000)

"Financial planners agree that houses will continue to be a poor invetment"
Kiplinger's Personal Financial Magazine 1993
(average price at that time: $145,000)

"A home is where the bad investment is."
San Francisco Examiner 1996
(average price at that time: $155,000)

Information Provided by

Saddletree Homes 1821 Austin Bluff's Parkway Colorado Springs, CO 80918

Roland Buckles

www.RolandBuckles.com

702-339-1389

Coldwell Banker

WArdley R.E.