Average price of re-sale homes sold in Las Vegas Valley up 8.1% over June 2005

According to the Greater Las Vegas Association of Realtors, the average price of single-family re-sale homes sold in June 2006 is $385,380, which is 8.1% higher than June 2005 and 3.1% higher than May 2006.  Please note:  The average 'list' price of single-family re-sale homes in June was $475,441 ... $90,061 higher than the average 'sold' price.

$239,740 is the average price of re-sale condos/townhomes sold in June 2006, which is 10.1% higher than June 2005 and 10.6% higher than May 2006.  Please note:  The average 'list' price of re-sale condos/townhomes in June was $307,589 ... $67,849 higher than the average 'sold' price.

To view all June 2006 statististics, including re-sale homes by zip code, please use this link: http://www.lasvegasrealtor.com/stats/Jun06CompStats.pdf

"The best way to predict the future is to invent it." - Alan Kay

 Made For Family Fun -- Open House - Sunday, July 16, 1:00 - 4:00 p.m.

5 Bedrooms, 3 Baths, Large bedroom and bath downstairs; Formal Living Room, Dining Room, Family Room, Gas Fireplace, Pool and Spa. For more details, call me at 702-419-2728, email me at bill@onestoplasvegashomes.com or visit: http://searchlink.las.interealty.com/PropSearch/PropertyDetail.asp?Code=&ML=621194&AgentID=210746

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http://searchlink.las.interealty.com/PropSearch/PropertyDetail.asp?Code=&ML=620103&AgentID=210746

"The world is so fast that there are days when the person who says it can't be done is interrupted by the person who is doing it." - Anonymous

Wall Street Sounding The Alarm on Piggyback Mortgage Programs
One of the most popular ways to buy a house in many high-cost areas around the country are so-called "piggyback" programs that mesh first mortgages with second-lien credit lines or mortgages. As of July 1, the most influential ratings agency in the mortgage arena, Standard & Poor's Corp., has upped the ante for lenders who fund piggyback deals. The move is likely to raise interest rates and fees for some home purchasers this summer, say mortgage experts, and could reduce the volume and availability of piggyback programs overall. The reason for the change, according to Standard & Poor's credit analyst Kyle Beauchamp, is that an exhaustive study of piggyback loans found them anywhere from 43% to 50% more likely to go into default than comparable stand-alone first-lien purchase transactions.

The bottom line for borrowers: Recognize the heightened risks associated with piggybacks and make sure your loan officer discusses them in detail. Ask about alternatives that might be more appropriate.

(Source:  Chuck DeLangis, Meridias Capital, chuck.delangis@meridiascapital.com, (702) 938.7521.  Chuck is one of our 'One Stop For Las Vegas Homes Dream Team Members.  Click here or visit www.onestoplasvegashomes.com to view the complete list of Dream Team Members -- all of whom are 'tried and true' -- based on the recommendations provided by readers of the 'One Stop For Las Vegas Housing Trends and Tips' newsletter.)

"Chance fights ever on the side of the prudent." - Euripides

3 Quick Techniques For Discovering Your Personal Decorating Style

Experiment with color.  Choose 3 of your favorite colors. Tape 3 posterboards to the wall and paint each with one of the colors.  Live with the colors for a few days to check your response to the colors.  How does each color make you feel?  Sad? Happy? Relaxed? Cold? Stressed? Rate each color starting with the one that makes you feel the best.

Look for decorating books and magazines.  Browse through the books and magazines in places where you shop and add the best to your collection for ready reference.

Look at department and furniture store room settings.  Take note of the room settings that appeal to you.  Take note of the relationships between the furniture, backgrounds and acccessories that emphasize a particular theme.  What did you like most about the room?  What did you like the least?  

For more information about decorating and re-decorating, contact Jodi Mobley, I.R.I.S., of Re-Mix Interiors,  (702) 250-1419, jodi@remixinteriors.com; http://www.remixinteriors.com

"Beauty is being in harmony with what you are." -- Peter Nivio Zarlenga

Summer is the Perfect Time To Check and Test Your Appliances and Home Systems

To save time and confusion during a breakdown, take a few minutes this weekend to become acquainted with your appliances and home systems:
Shut Off Values: Review the location of all of the shutoff valves in your home with all your family members so you'll be prepared for emergencies.
Whole-house water shutoff valves: The main shutoff should be beside the meter if you are on City water. If you use a well, the shutoff will be on the house side of the pressure tank.  You should also cut power to the tank.
Toilet Shutoffs: Show your entire family how to shut off the toilet by turning the ribbed oval handle under the tank if it ever starts to overflow.
Sink Shutoffs: Look for handles beneath the sinks or within the cabinets; the one on the left is usually for hot water, the one on the right for cold.
Dishwasher Shutoffs: Look under the kitchen sink for a reducer coupling and shutoff valve leading to the dishwasher on the ½ inch hot water sink supply line.  It could also be between ceiling joists just below the appliance if you have a basement.
Gas Shutoff Valve: Identify location and show entire family how to shut off.
Electrical Panel/Breaker box: Identify location and show entire family how to shut off main breaker in an emergency, or flip any circuits back on after an overload.  (If it's a common occurrence, consider hiring an electrician to upgrade your panel or wiring).
Gas-Fired, Forces-Air Central Heating Systems: Hire a licensed HVAC person to inspect the thermostat, electrical components and controls, check the heat exchanger, flue, ducts, air flow and air fuel mixture, adjust the burner and oil the motor and circulating fan.
Fireplaces and Chimneys: Have your wood-burning fireplaces and stoves inspected annually and cleaned and repaired as required to prevent chimney fires, carbon monoxide poisoning and mortar and flashing failure.

For more information about appliance check-ups and warranties, contact Karin Bond of Alliance Home Warranty, 702-290-4219, bondkarin@cox.net

"Practice is the best of all instructors." - Publilius

Smiles and Grins

Julian Beever is an English artist who is famous for his astonishing 3-D pavement drawings done with chalk...

   

    

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