Average price of re-sale condo/townhomes sold in Las Vegas Valley up 15.3% over July 2006

According to the Greater Las Vegas Association of Realtors, the average price of re-sale condos/townhomes sold in August 2006 is $251,904 which is 15.3% higher than July 2006 and 14.6% higher than August 2005.  Please note:  The average 'list' price of re-sale condos/townhomes in August was $306,753 ... $54,849 higher than the average 'sold' price.

$396,607 is the average price of re-sale single-family homes sold in August 2006, which is 1.0% lower than July 2006 and .1% higher than August 2005.  Please note:  The average 'list' price of re-sale single-family homes in August was $475,002 ... $58,395 higher than the average 'sold' price.

To view all August 2006 statististics, including re-sale homes by zip code, please use this link:

http://www.lasvegasrealtor.com/stats/Aug06CompStats.pdf

"Human beings are the only creatures on earth that allow their children to come back home." -- Bill Cosby

 It's your money -- why not make the most of it!  When you purchase any house or condo with my assistance as your Realtor, I will give you back 50% of my commission at closing.  Call me at 702-419-2728 to arrange your first visit to the property in order for you to receive 50% of my commission at the time of closing.

  

"Where we love is home - home that our feet may leave, but not our hearts."  ~Oliver Wendell Holmes, Sr.

Featured Open Houses

 Great Floor Plan - OPEN HOUSE - Spring Valley - Saturday, September 16, 1:00 - 4:00 p.m.OPEN HOUSE - Spring Valley

Under $300,000 -- This 1529 sq. ft. home is perfectly located at the end of a Cul-de-sac with plenty of room for RV parking.. 4 bedrooms and 2 bathrooms, including a bedroom and full bath downstairs. It has a huge pool-size yard with mature trees & shrubs. Great floor plan with lots of storage areas. The home boasts a large Sun Room (17x12) that leads out on to the patio. 2-car attached garage. 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=616140&AgentID=210746

 Made For Family Fun -- OPEN HOUSE - North West - Sunday, September 17, 1:00 - 4:00 p.m.OPEN HOUSE - North West -

Price Reduced -- $422,990.  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://www.listinginformer.com/vtour/578.htm

"May the roof above us never fall in. And may we good companions beneath it never fall out." -- Irish Blessing

 Fast Financial Fact* --  43% of Americans who were first-time home buyers in 2005 did so without making any down payment, i.e., they borrowed the entire amount of their home purchase price (source: NAR).
(*Contributed by Bernardo (Bernie) Duque, bernardo.f.duque@smithbarney.com,702-792-2058 of Smith Barney.  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.)

"People are living longer than ever before, a phenomenon undoubtedly made necessary by the 30-year mortgage."
~Doug Larson

New Tax Break For Taking An Ailing Parent Into Your Home*
According to a recent survey done by the National Alliance for Caregiving and the American Association of Retired Persons (AARP), nearly one in four households are now providing care to a relative aged 50 or older. And sometimes this care being provided may even include having them live in our home with us.Well, the IRS wants to help - and may even provide a tax break for taking an ailing parent into your home.

Let's take a closer look. Under normal circumstances, if you sell your home prior to living in the property for two full years, you are normally subject to pay capital gains on the profit made. There is an exclusion that allows for $500,000 of tax free gain if you are married or half that if you are single - but you must have lived in the home for two of the past five years.

However, according to the IRS, if you take an ailing parent into your home and therefore are forced to sell, you can still get a pro rated tax break, even if you have not been in the home for the full two years.

For example, a couple gets married, buys a new home, and one year after they move into the home the wife's mother suffers an illness and has to move in with the couple. Unfortunately, the couple does not have enough room to properly accommodate the mother and is forced to sell the property and purchase a larger home. Being that the couple was pressured to sell the home due to unforeseen circumstances, they can claim a percentage of the $500,000 capital gains exclusion equal to the portion of the two-year period that they lived in the house.

This situation is becoming more common and the life expectancy of our aging population is growing, so being familiar with this tax break could provide substantial savings for you or someone you may know. Feel free to forward this article on to your friends, family members, or colleagues. Additionally, it is always important to meet with a tax professional regarding situations like these - and if you or someone you know needs a referral, please contact me, and I will be happy to recommend a great tax pro to you.

(*Contributed by Pamela Nickels, Direct Access Lending, savedollarswithnickels@cox.net, 702-375-7230.  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.)

"Home, the spot of earth supremely blest, A dearer, sweeter spot than all the rest." ~Robert Montgomery

 Mountain Views - near Painted Desert golf course-

under $340,000 near Painted Desert golf course-

Spacious mountain views from large formal living room and den; 3 bedroom plus den, 2 Bath; open plan kitchen and family room combo, plus breakfast nook, and kitchen island, and fireplace; desert landscaping in front, large backyard with mature flowering trees; storage closet and shelving in 2-car garage; immaculate and vacant, move-in ready; all appliances stay, home owners warranty.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=644662&AgentID=210746

"No house should ever be on a hill or on anything. It should be of the hill. Belonging to it. Hill and house should live together each the happier for the other." -- Frank Lloyd Wright

 "Buy land. They've stopped making it. -- Mark Twain

Please visit www.onestoplasvegashomes.com to select and view other fabulous properties available throughout the Valley.

 Smiles and Grins

Did you know....

• Babies are born without  kneecaps. They don't appear until the child reaches 2 to 6 years of  age.
• A dime has 118 ridges around  the edge.
• A goldfish has a memory span  of three seconds.    
• The microwave was invented after a researcher walked by a radar tube and a chocolate bar melted in his  pocket.
• There are more  chickens than people in the world.
• If you are an average  American, in your whole life, you will spend an average of 6 months waiting at  red lights.
• Our eyes are always the same  size from birth, but our nose and ears never stop growing.
• "Stewardesses" is the longest  word typed with only the left hand and "lollipop" with your right.
• This list was contributed by our good friend, Les Silber