Dyslexia costs developer $365,000 in Las Vegas real estate auction

Masoud Saberzadeh Las Vegas Real Estate auctions blogs 0 Comments

Las Vegas real estate developer over bids by $365,000 in Las Vegas real estate auction The president of Walters Group accidentally overbid by $365,000 on a parcel of Las Vegas surplus airport land during the Clark County real estate auction which was held in Las Vegas on August 16th, 2016. 85% of the sales proceeds go to the U.S. Bureau of Land Management, Clark County Department of Aviation gets 10% and the remaining 5% goes to the State of Nevada. The starting bid for these parcels of land is based on appraisals which are made available to the public. If there is only bidder, $5,000 higher than the starting bid wins the auction. Only 3 parcels were selected for the auction and two had no interest. However, The Walters Group …

Nevada Supreme Court ruling on HOA fees guide

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Real Estate auctions blogs 0 Comments

Nevada Supreme Court ruled that only nine months of delinquent HOA payments can be included in super priority lien status. Nevada Supreme Court HOA ruling is in favor of banks and distressed property buyers from Nevada Trustee Sale real estate Auction where the act of foreclosing on properties takes place. Home Owner Associations (HOA), and especially collection agencies who charged exuberant amounts in collection fees in addition to delinquent HOA fees. Needless to say, this problem led to many lawsuits and Nevada Legislation reacted by passing a bill in 2015 to fix this and while keeping the HOA fees in Super priority status modified how HOAS have to contact first lien holders and reduced collection fees and other charges to about $1350. Other important changes: A first lien holder now …

Calculating the number of Shadow home inventory in Las Vegas

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Homes and Condos Blogs, Las Vegas Real Estate auctions blogs 1 Comment

Calculating the number of Las Vegas shadow home inventory is easy if you have the right data So far I have explained and given the formula for calculating the number of shadow home inventor in Las Vegas and how “national NOT experts” may not make a distinction between the number of homes that are foreclosed and sold back to the bank. Banks market these as bank owned homes for sale in the Las Vegas MLS or other public Las Vegas real estate auctions like REDC or Hudson Marshall. I am reproducing the formula below. (The number of shadow home inventory in Greater Las Vegas) = (Number of homes that have been foreclosed and sold back to the bank) – [(number of bank owned homes that have been sold through Las …

Different foreclosures sales at Las Vegas Trustee Sale Auction

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Homes and Condos Blogs, Las Vegas Real Estate auctions blogs 1 Comment

Las Vegas single-family homes are not the only kind of real estate sold at Las Vegas Trustee Sale Auction Properties that are foreclosed by the first mortgage, second mortgage or in rare cases for HOA fees have to be sold through the Las Vegas Trustee Sale Auction with delinquent tax auctions being the exception. Not all of the properties that are sold through Trustee Sale Auction are single family homes, a significant number of these foreclosed real estates are Las Vegas condos, town-homes, and lofts in addition to vacant land and commercial real estate. 2: Two types of foreclosed properties are sold through the Trustee Sale Auction in Las Vegas. A: Properties like Las Vegas homes or condos that sell back to the bank at the Trustee Sale Auction. Most …

About Las Vegas Trustee Sale Auction & shadow home inventory

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Homes and Condos Blogs, Las Vegas Real Estate auctions blogs 2 Comments

The act of foreclosing on Las Vegas homes, condo or high rise condos happens in Las Vegas Trustee Sale Auction There is a law in Nevada which mandates that any property which is going to be foreclosed on be auctioned off at the Las Vegas Trustee Sale real estate Auction. This is where the act of foreclosure takes place. The reason for this is that banks should not profit on foreclosing a property. This means that if someone bids one more cent than the foreclosing loan, the bank is out and only other third party bidders can compete with the original bidder. This problem no longer exists in Las Vegas as there aren’t many auction properties that are worth the foreclosing loan. The shadow inventory of Las Vegas bank owned …

Pricing MGM Grand condos MLS listing VS foreclosure auctions-2

Masoud Saberzadeh Invest in Las Vegas real estate blogs, Las Vegas high rise condos blogs, Las Vegas Real Estate auctions blogs 0 Comments

For previous articles about Signature at MGM Grand condos for sale click the links below. MGM Grand units are high rise condo hotel towers in Las Vegas. MGM Grand Signature condos for sale in Las Vegas, MLS pricing VS foreclosure auction pricing part one Signature at MGM Grand condos, invest in the Las Vegas high rise condominiums, part last I have discussed MLS pricing in Las Vegas for one bedroom condos at MGM Grand, here is the blog post about studios or junior suites. MGM Grand studios sleep four people, but in one room and the kitchens are much smaller than in the one bedroom suites. Signature at MGM Grand condos pricing Studios at MGM Grand have been selling through Las Vegas MLS for $130,000-$201,000. Again, higher floor units with …

Pricing MGM Grand condos listing in MLS VS foreclosure auctions

Masoud Saberzadeh Invest in Las Vegas real estate blogs, Las Vegas high rise condos blogs, Las Vegas Real Estate auctions blogs 0 Comments

Difference between Pricing MGM Grand condos listing in MLS VS foreclosure auctions For previous blog posts about MGM Grand condos in Las Vegas click the link below. Signature at MGM Grand condos invest in the Las Vegas high rise condominiums, part last The rush on the MGM Grand Signature condos in Las Vegas seems to have subsided and prices seem to have stabilized as prices have appreciated by 20% in the last six months. A look at the sales report for the last 3 months shows one penthouse floor 1394 square foot 2 bedroom condo which is constructed through joining a one bedroom and a studio sold for $540,000 or $466 per square foot. This MGM grand condo was not a short sale or foreclosure and the seller lost hundreds …

Buying from Las Vegas foreclosures real estate auctions?

Masoud Saberzadeh Invest in Las Vegas real estate blogs, Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Real Estate auctions blogs 0 Comments

Buying from Las Vegas foreclosure real estate auction requires expertise that even real estate professionals lack I keep getting calls from buyers who are dead set on buying from Las Vegas foreclosure real estate auctions. OK that is all fine and good. However when I ask them what do you want, why do they want it and what do they expect to gain from buying from a real estate auction, they can’t answer except that they want a good deal. Buying from Las Vegas foreclosure real estate auctions requires doing your research prior to bidding I have always written that attending a Las Vegas real estate auction and buying from one requires expertise that most real estate professionals in Las Vegas lack, let alone amateurs. Some silly buyers call me …

How I bid on a condo in Allure condo real estate auction

Masoud Saberzadeh Invest in Las Vegas real estate blogs, Las Vegas high rise condos blogs, Las Vegas Real Estate auctions blogs 2 Comments

Disappointing outcome of my bid on a condo in Allure Condo real estate auction In this blog post, I will discuss the outcome of my bid on a condo in Allure Condo real estate auction. This proves that even the most prepared real estate auction buyers can fail and we did. In the last blog post about what happened in the Allure high-rise condos real estate auction I got to the place that the 1882sf came up and I started bidding. I also wrote that my investor and I had already agreed about the high limit of $350,000 which would have brought up the final price to $385,000 since there was a 10% auction premium for an unfinished condominium. Difference between a professional Las Vegas real estate buyers and amateurs  The difference …

What happened in Allure high-rise condos real estate auction

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas high rise condos blogs, Las Vegas Real Estate auctions blogs 0 Comments

Times are tough at Las Vegas high-rise condos for sale market and sales don’t come easy but what happened in the Allure Condo, Las Vegas condo auction was unreal. The builder, who is a good man, hired Auction One Las Vegas to auction off 10 high-rise condo units that were advertised as buyer defaults. One of the services that real estate auction companies provide is saturation advertising which along with repeated newspaper articles about this auction brought a few people in. I registered a client whom I had just had the privilege of meeting in person an hour before. This gentleman is a real businessman from Texas who has major real estate investments all over the world. By real, I mean he is the kind of person whose word you …