Tag Archives: owner carry only

1 Bedroom Condo at Boca Raton on the south end of the Las Vegas Strip

7 Feb

  

 

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Boca Raton is an amazing guard gated community located just 4 miles south of the Mandalay Bay on the south end of the Las Vegas Strip.  Close to the Designer Outlet Mall, South Point Casino, shopping, restaurants and more, enjoy the luxurious grounds, amazing amenities like this refreshing pool, cabanas for a respite from the sun, a professional fitness center, club house with meeting rooms and entertainment space, a concierge and 24-hour security.  Underground parking is available as well as additional outdoor parking space for visitors.

This is a beautiful one bedroom condo with a great view has everything you need including granite countertops and stainless steel appliances, a luxurious bath with tile floors and a combo washer/dryer unit.  Elevator takes you from underground parking through an interior air conditioned hallway to your door.

Seller has just lowered the price to $89,000, offering owner financing with $10,000 down and 10% interest only for 5 years.  If you have cash or your own financing, ask for a significant discount.  This motivated seller is creative and willing to work with you.

Owner Carry Only – info@ownercarryonly.com  702-531-4798

What’s Up for 2012?

2 Jan

Las Vegas is an interesting market.  We are still facing challenges from the housing bubble and probably will for another 3-5 years.     

Out of the 23,918 properties on the market as of today (per our MLS and including single family homes, condos, townhouses and manufactured homes), 360 are open to selling with terms.  That is less than 2% of the sellers out there that will consider selling with owner financing or as a lease option.  The  remaining 98% percent are made up of bank owned and short sales, and private sellers who either don’t understand owner financing, aren’t open to it, or their agents don’t understand how to present it as a viable option for their sellers.

Currently 7% of the houses on the market here are not being sold as a distress sale.  That means they are not a short sale or foreclosure property, but a seller with actual equity either because they didn’t over finance their house or they are an investor trying to make money flipping a house they bought after rehabbing it.  And out of this 7%, only 7% will consider creative financing terms.

As investors who bought houses in the last year or two, who were trying to flip them for a quick profit discover that this is still not a great market in which to flip a house, we hope will become open to seller financing in order to sell their investment property.  The reason they may consider it is because they get someone to live there who will take care of the property because they want to make it their own, give them a good return on their money, and turn all of the maintenance and repairs over to the new occupant who wants to be a homeowner.

What that does mean to you is the pool of these types of properties is very small and if you see something that will work for you, you need to act on it quickly.  You may not get everything you want like a brand new kitchen, or a pool, or you may have to drive a bit further than you hoped.  But if homeownership is your goal, and traditional means aren’t available to you because of credit or being self employed, this is a great way to purchase a home.

As licensed agents here in Las Vegas, we strive to make this deal as painless as possible.  So do your homework, be prepared to show proof you have a deposit, be able to explain why you can’t get traditional financing, and don’t be afraid to work towards fixing the issues so you’ll be able to refinance in 2-5 years.  Expect to see new properties added to our blog several times a week.  And if you don’t see what you’re looking for, don’t hesitate to ask.  Properties get added regularly.

Our goal in 2012 is to help as many of you become homeowners as possible.

Happy New Years from us at Owner Carry Only.  702-531-4798  info@ownercarryonly.com