The Paseos is one of the smaller Villages of Summerlin, being developed of 375 acres. Despite being smaller in acreage it has a rich and warm feeling. This is the western most section developed of the Summerlin master-planned community. Embracing the rich landscape of the area you will find that this development provides wonderful views of the Red Rock Canyon from a variety of the different floor plans.

As is common with other Villages of Summerlin the Paseos embraces its own style of architecture. The architecture here embraces Hacienda and Mission style of properties. With 14 different neighborhoods within this community you will find a variety of wonderful architecture and home styles to enjoy. When you start to explore the Paseos you will find single story and two-story homes.

In developments such as the Barcelona, a gated community you will find luxury two-story properties. Within Barcelona you will find Vistas homes ranging in size from 2,600 square feet to 3,400 square feet. These homes were largely built between 2004-2005 and feature courtyard entries with 3 car garages. Lovely brick facades and landscaping make these compelling homes a treat to explore while you look to find the best home for you.

When you want a single story home and you are looking in the Vistas you will want to explore the Calavera neighborhood. Single story floor plans here range from just over 1,300 square feet to larger homes that are 1,900 square feet. These homes have excellent floor plans commanding 3 bedrooms and larger with 2 car garages.

Start exploring Paseos homes for sale today. When you want to find the best Las Vegas homes, we invite you to consider checking out Summerlin real estate to find homes that meet your needs and exceed your expectations.

By: Joe Cusimano

As of September 2009, the nation’s supply of REO homes has begun to shrink, even in foreclosure capital Las Vegas, NV. As investors flood back into distressed markets, we are seeing multiple bid situations for most REO or bank-owned foreclosure properties coming back onto the market. With demand exceeding supply, it is becoming harder and harder for investors to purchase REO properties at discount prices. Also, with the Obama administration offering hefty incentives for banks to help homeowners avoid foreclosures, REOs are becoming more scarce. Instead, we are seeing short sales skyrocket in popularity as banks have suddenly become willing to negotiate this option.

Many of my investor clients have asked me to explain the differences between short sales and foreclosures/REOs. First, the definition of each: A short sale occurs when a buyer negotiates with the bank to purchase a home from the seller for less than what the seller owes on the mortgage. In many cases, where the equity in the property has dropped sharply, this means that the second lien holder (if any) receives next to nothing on their note (think $1000 for a $90,000 note as an example) and the first position lender very often must still except less than the amount of the first mortgage. REOs are bank owned properties that have already completed the foreclosures process. The owner of the property, upon failing to make their mortgage payments, has been notified of their delinquency, received a notice of default and then a notice of sale. Subsequently the property has been sent to auction at the trustee sale where, in absence of a successful winning bid, it has reverted back to the bank holding the mortgage. These properties are then re-listed by the banks on the open market as REOs or Real Estate Owned meaning bank owned real estate.

The major differences between the two transactions can be summed up in two categories: Differences to the Buyer and Differences to the Seller.

Differences to the Buyer

Difficulty of Transaction – Short sales are traditionally much more difficult to transact than purchasing an REO. Once a bank has taken possession of a foreclosed property and re-listed it as an REO, that REO property can then have offers placed upon it and the bank will respond to those offers just like any other seller. Short sales must go through a special evaluation and approval process at the bank. This process usually involves not only evaluating the fair market value of the property, but also evaluating the potential of the current owners to continue making their payments. Sometimes, a bank will offer to modify the existing loan if the sellers wish to stay in their property rather than negotiate the short sale. This can result in the property being pulled from the market altogether.

Time Frame for Closing – REOs can often close in a 30 day escrow just like a normal transaction. Short sales can take months to negotiate and then might not be approved at all.

Price – Because the buyer is usually not competing against other offers in a short sale situation, they can often obtain the property for less than what the same property might end up costing as an REO.

Differences to the Seller

Future Home Purchases – Homeowners who go through a foreclosure cannot apply for an FHA loan for 5 years after the date of foreclosure (7 years for investors), but homeowners who complete a short sale can apply for an FHA loan 2 years later. When homeowners apply for a loan through a mortgage company, they must state on the application if they have had a property foreclosed upon or given a deed in lieu of foreclosure within the last 7 years. There are currently no questions on standard mortgage applications asking whether or not a homeowner has ever completed a short sale.

Credit Score – A foreclosure will typically lower a homeowner’s credit score by somewhere between 250-300 points and this decrease will last approximately 3 years. Short sales can often affect an owner’s credit by only 50 points and that decrease may sometimes be remedied in as little as 12-18 months.

As the supply of REO properties continues to be tight across the country, short sales are presenting a good buying opportunity for would-be investors looking to re-enter the market. They can also provide a win-win situation for home owners looking to escape a negative equity position with less of a hit to their future purchasing potential and credit score.

By: Glenn Plantone

Because Las Vegas real estate is a hot-ticket item, property turnover rates tend to be high. Las Vegas is a booming city, and it promises to be such for many years to come. Many investors buy Las Vegas real estate as an investment. Many of them make some renovations that turn right around and sell their property, resulting in high turnover rates.

Since Las Vegas is such a dynamic city, it is hard to find real estate that cannot be put to profit-making use. With an estimated 6000 families moving in and out of Las Vegas on any given day, there is a huge market for shelter both temporary and permanent. Apartments, hotel, and condominiums are huge business opportunities for the serious Lass Vegas real estate investor.

Las Vegas real estate suburbs are also good investments. With more and more people wanting to live in the entertainment capital of the world, demand has shot up for properties large and small. As long as you have a good eye for opportunity, as well as a little bit of imagination, it shouldn’t be hard to find a property that you can buy, hold for a short period, and then sell. If you’re lucky (and Las Vegas is all about luck), then your property might increase in value quickly, allowing you to resell at a premium.

By: Shirley Simmons

MTV Spring break is a dream of many students both in high school and college. The bad news is that not everyone gets to make that dream come true. The good news is that the trip can be affordable enough for even the most modest of students to be able to afford it. An MTV event can be one of the most exciting times of your life, and can make memories that will last a life time. If you want to catch MTV in Vegas, you will want to book your trip for March 6th through the 10th.

Benefits of a Las Vegas Spring Break

When attending the MTV Spring break week, you can stay at any hotel in the area without having to worry about missing any of the festivities. You can find plenty of rooms at affordable rates, and in fact many people even rent out extra rooms in their homes for the occasion in order to make a little spare money. With that said, you can find deals that will keep more money in your pocket to gamble or buy drinks with.

You’ll have an opportunity to get up close and personal with famous people from all over, as they help to celebrate with MTV, Las Vegas, and you. You will also get a chance to see and do everything Vegas has to offer whether it’s Spring break or not, which says a lot. As they say, what happens in Vegas stays in Vegas.

What to Expect During the MTV Spring Break

There will probably be a lot of commotion and mayhem going on during the week that MTV hosts the Las Vegas Spring break. It’s one of the most popular events of the year, worldwide! Keep in mind that people will be coming in from all around the world to celebrate the occasion, and many will be coming early and leaving late. This is a great time to make new friendships, and to meet new people you wouldn’t otherwise.

You can expect lots of alcohol and music, fun, craziness and plain old excitement. Contests, parties, after hour clubs and more can be scouted out on a daily basis. There are also theme rides, hiking adventures and sight seeing tours that might interest those who might want to spend some down time while in the area.

Remember, this is Las Vegas, so you will want to bring some extra cash along with you as no doubt, you will end up spending (or gambling) more than you probably planned for. And if you happen to be one of the lucky ones who win prizes during contests or while gambling, don’t turn around and spend it all in one place!

By: Matt Scriven

One of the most exciting cities in the world, that is what Las Vegas is. With the sunny inviting beaches, warm balmy weather and crystal clear water, it is a holiday makers paradise. It is not a difficult issue to have a good time and enjoy yourself when you are in Las Vegas. You can also locate your ideal boat by visiting a dry dock boat sale Las Vegas. You will be able to find the type of boat that you are looking for here and if required, have all the repairs done too.

1. What is meant by a dry dock sale Las Vegas
To do the necessary repairs on a vessel or a boat underneath, the area has to accessed by a mechanic who can work his way to the spot or you have to get a diver to do this. Dry dock boat sales Las Vegas has a waterless dock which makes it more feasible for a mechanic to reach beneath the vessel. It is much easier and also gives way to do a better and more effective job because of the taking away of water.

2. Every type of water craft is available here
The person who loves water can find almost any kind of boat or boat craft that he aspires for here. A perfect way to unwind and to relax is a possibility here. Boating and various aspects of boating have become a very popular modern day way to relax. There are many other options that this is used for also, be it water activity, sports, fishing or even to eke a living. You can fin find it at the dry dock boat sales Las Vegas. You will also be able to locate any sort of boat that you need here. Be it a paddle boat, a fishing boat or a paddle boat, you can get it all here.

3. All at affordable rates too
Many people think that they will not be in a position to be able to have the money to buy a boat. But this is not so. You will be able to find any kind of boat and also well within your budget with dry dock boat sales Las Vegas. It is not just a dream to dream of anymore but a reality that you will be able to own your own boat. In case you buy a water craft or a boat at the dry dock boat sales Las Vegas they will be able to do the maintenance or repair work for it whenever required.

4. Maintenance and spare parts an element of owning a boat.

Buying of a boat and maintenance and repair it should be remembered go hand in glove. This means that you would also have to store parts that will be required now and again. With dry dock boat sales Las Vegas you can be sure that all your boating needs, such as repair work, advice on maintenance of your boat and buying of parts, will be taken care of. As you will always be need of some sort of assistance or the other, it is good to have a trustworthy dealer to help you out. Dry dock boat sales Las Vegas will assist you throughout and locate the best water craft for you.

By: Abhishek Agarwal

Over the past several months there has been a noticeable trend by the local Home Builders in the Las Vegas area. Although not even near the level of development activity in 2007, several Home Builders are cautiously processing new residential developments through the cities and county Development Services offices. This is good news. Since the beginning of 2008, new residential projects have nearly ceased to exist in the area.

Engineering firms hired to process these designs begin with their first exposure to the government’s scrutiny of the design by submitting a Tentative Map. By the time the Tentative Map is heard by the Planning Commission, the engineering firm has already been working on the project for about 3 months. In most cases the Tentative Map is ultimately approved or not at the Planning Commission public meeting. After the Tentative Map has been approved the engineering firm moves on to the Technical Reports and the Off-site Improvement Plans or Development Plans with the goal being that the government entities signing off on the final drawings, and the developer to pull construction permits. The period of time from the Tentative Map approval to pulling permits is about 6 to 9 months. This is why Tentative Maps on the Planning Commission agenda is a good indicator for future development in the area.

With several of the Home Builders processing engineering plans now is a clear indicator that they are planning to cut the ground in late 2011, and continue building through 2012. But again this maybe just in preparation for a possible up tick in housing demand. If there is no increase in demand for new homes next year the developers can shelve the projects for another year or two.

The major Home Builders that appear to be taking the plunge are Richmond American Homes, The Howard Hughes Corporation, Lennar Communities Nevada, KB Homes, and William Lyons Homes. These developers have submitted projects at Clark County, City of Las Vegas, and City of North Las Vegas Development Services Offices. Other Home Builders which are also making a move are Pardee Homes, Ryland Homes, DR Horton, and Harmony Homes.

For the first six months of the year only seven residential development Tentative Maps were submitted with a total of 730 residential lots and 178 condominium units. There has only been one Condominium project submitted to any agency in the Las Vegas valley this year.

For the months of July, August, and September, ten Tentative Maps for residential developments have been on the North Las Vegas, City of Las Vegas, City of Henderson, and Clark County Planning Commissions agendas combined. The total number of new residential lots represented by these maps is 1,653. Most of the lots are located in the Mountain’s Edge Master Planned Community, Summerlin Master Planned Community and on the north side of the Las Vegas valley.

* Richmond American Homes is processing the Monterey Ranch plan which includes 543 cluster home lots within the Mountain Edge Master Planned Community development.
* The Howard Hughes Corporation is also processing two projects; 34 lots and 267 lots, which are located on the west side of the Las Vegas valley within the Summerlin Master Plan Community.
* Lennar Communities Nevada is also process plans for Jasmine at Mountain Edge. The project will consist of 238 compact residential lots.
* KB Homes has submitted plans for 52 Single Family residential lots in Cliff Edge and another 111 residential lots in the City of Henderson.
* William Lyons Homes has submitted plans for 2 projects. These projects include 24 residential lots at Rhapsody South in North Las Vegas, and 90 single family residential lots at Serenity Brook Estates, II in Clark County.
* Pardee Homes of Nevada has submitted plans for a 106 single family residential development in Providence, a community in the City of Las Vegas.
* Ryland Homes has submitted plans for a 99 residential lots in the City of Henderson.

We asked a representative of one of the Home Builders why they are submitting plans now? According to him they marketing research indicates that there will be demand for new home next year, and in order to meet that demand they need to start processing plans the now.

Does this mean that the construction companies and engineering design firms are about to be see a rebound. Not necessarily. But it does mean that the demand for engineering may have reached a turning point. If the national Home Builders are willing to make the investment in Las Vegas now, then other smaller developers may also want to test the waters. If the home buyers demand are as they anticipate next year, then there will be a demand for engineers.

In this article we have discussed that the residential development in the Las Vegas valley may be seeing some glimmer of hope for 2011. The national Home Builders have significantly begun to process numerous new developments through the local Planning Commissions. Although they maybe doing this in case of an increase in demand, but this sudden spike do indicate that they in fact expect the new home buying trend to increase in 2011.

By: Joe Haun