Interest Rates Down, Prices Down, Rental Prices remain the same!
Las Vegas, NV Area First Time Buyers to All Cash Investors: Does it Make Sense to Buy a Home Right Now?
Can you own for less than renting? Can you own a rental and see a decent monthly return on your investment?
Weekly feature w/ 4 homes in different areas of the valley designed to help people from first time buyers to all cash investors to see if the numbers make sense!
Address: 4135 Windsong St- West Las Vegas: 1202 Sq Ft, 3 Bedrooms, Covered Patio, Tile Floors
- Price: $95,000
- Rental Comps: $1100-1200*
- Estimated FHA Monthly Payment: $676**
Address: 4512 Metpark Dr- East Las Vegas: 1396 Sq Ft, 4 Bedrooms AND DEN, Large Lot
- Price: $88,900
- Rental Comps: $1000-1100*
- Estimated FHA Monthly Payment: $715***
Address: 3151 Soaring Gulls Dr #1088
- North Las Vegas: NW location with DESERT SHORES AMENITIES! 3 Bedroom Condo
- Price: $53,500
- Rental Comps: $750-850*
- Estimated FHA Monthly Payment: $683****
Address: 9562 Parvin Dr- South: 1870 Sq Ft, 4 BR, Granite, Tile and MORE
- Price: $172,000
- Rental Comps: $1250-1350*
- Estimated FHA Monthly Payment: $1188*****
*Rental Price: Comparable range based on terms. Lower end rental price = more conservative lease terms based on best credit and 1 year + lease. Higher end rental price = more liberal lease terms with OK credit, pets allowed and shorter than one year lease terms. All prices based on date of this post. Comparable rental range is not net, it does not factor in the price of repairs, holding costs, property management fees, etc. I will be happy to send you the rental comps via email. Simply request "rental comps for " at email address: Renee@ReneeBurrows.com.
** $95,000 $0 HOA taxes $1107/year
- Loan Amount $93,763
- Rate ******4.875% APR = 5.211%(with 1 point)******
- Principle and Interest = $496
- FHA Mortgage Insurance = $43
- Est Taxes = $92
- Est Homeowners Insurance = $45
- HOA = $0
- Total Payment = $676
*** E $88,900 $0 HOA taxes $1995/year
- Loan Amount $73,924
- Rate 4.88% APR = 5.378%(with 1 point)******
- Principle and Interest = $464
- FHA Mortgage Insurance = $40
- Est Taxes = $166
- Est Homeowners Insurance = $45
- HOA = $0
- Total Payment = $715
**** NLV $53,500 $196 HOA taxes $1671/year
- Loan Amount $53,500
- Rate 4.88% APR = 5.223%(with 1 point)******
- Principle and Interest = $279
- FHA Mortgage Insurance = $24
- Est Taxes = $139
- Est Homeowners Insurance = $45
- HOA = $196
- Total Payment = $683
***** S $172,000 $0 HOA taxes $2007/year
- Loan Amount $169760
- Rate 5% APR = 5.338%(with 1 point)******
- Principle and Interest = $898
- FHA Mortgage Insurance = $78
- Est Taxes = $167
- Est Homeowners Insurance = $45
- HOA = 0
- Total Payment = $1188
******Rates are as of 1/7/2008 and based on a 30 year fixed FHA loan on approved credit and income qualifications. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. Call for financing details 702-966-2494 option 3.
All properties listed here are brokered by Nevada Realty Solutions, LLC. Call 702-966-2494 option 1 (Para español presione el cuatro) for more information on properties.
Also check with your tax advisor for the potential tax benefits of owning a home.
Grant and Bond 100%, Zero Money Down Opportunities for First Time Buyers.
Renee,
What a great post! This is such a good service for your potential and current clients. It really shows the invesment potential.
marcy
Renee.... your weekly breakdown is turning into a good informational piece. nice job..
Renee- I have to agree with Jeff on his comment and you are so busy girl that you missed a blog I put out about you yesterday.
Renee - Awesome post! Great way to educate renters about opportunities that will save them money!
Marcy: Why thank you!
Jeff: I try ;)
Robert: SO SORRY! I am incredibly wiped out and looking forward to some sleep (Sat maybe?) Will go over there now!
Mark: Major opportunities!