Posted March 24, 2020 in Group Listings,Just Sold
The sold Las Vegas investment home in 89122 had been maintained by the property managers at Nevada Desert Realty for several years before the Las Vegas real estate investors decided to sell the property. In preparation for the sale, the Las Vegas property managers at Nevada Desert Realty oversaw the remodel of the home. The remodel included granite countertops, a custom backsplash in the kitchen, stainless steel appliances, new flooring throughout, a new window throughout, vanities, baseboards, light fixtures, and even a new roof with a warranty.
The Las Vegas investment home in 89122 is measured at 1,260 square feet with a lot size of 6,534 square feet. This home is a 4 bedroom 2 bathroom single story home built in 1972. There are 2 patios in the backyard and a patio in the front yard. There is also a 2 car attached garage and RV parking. The tenant had moved out before the remodel started on the home and the home was move-in ready at the time of sale.
The home was sold for $240,000 or $190 per square foot. The home was purchased by a buyer using a conventional loan. The escrow lasted just over a month. conventional loans are often the most commonly used way to fund a home purchase. While conventional loans often require a higher down payment than an FHA loan, conventional loans often allow you to remove private mortgage insurance once you have 20%-25% equity in your home.
If you are purchasing a Las Vegas investment home, your lender may require a 20%-25% down payment. With this amount of down payment, you may not need to have private mortgage insurance at all. While having a larger down payment may take longer to save up for, not paying for private mortgage insurance can significantly reduce your monthly payments. Having a larger down payment will also reduce monthly payments. Avoiding having to pay monthly private mortgage insurance as well as the allure of having a lower monthly mortgage payment leads some home buyers, not just Las Vegas real estate investors, to save up 20% for their down payment.
Nevada Desert Realty’s REALTORS® and Las Vegas property managers love helping their clients maintain their investments, and when the time is right for their clients, prepare the home to sell. In the last six months, Nevada Desert Realty has sold several of their property management units as the Las Vegas investors determined it was a good time for them personally to sell their Las Vegas investment properties. If you are looking for a property manager or to sell your real estate investment in Las Vegas or Henderson Nevada Desert Realty would love to help. Their office address is 40 E Horizon Ridge Pkwy #101 in Henderson NV 89002 and their office phone number is 702-509-1446.
