I have been by the Rhodes Ranch community in the southwest region of Las Vegas right off of Durango many times and have even had the opportunity to show a few Rhodes Ranch homes for sale in this upscale community but really had no clue as to just how nice it was until recently.

My little Brother and his family moved to Rhodes Ranch two months ago. John and Hyesun were fortunate enough to find a great deal on a lovely home right off of the golf course through a short sale. Since then we have shared many meals there, taken the Grandchildren to the water park and enjoyed a few walks through the wonderful neighborhoods.

The Community Center

The Community Center has one of the best exercise facilities in the area with almost every imaginable weight and exercise equipment available. It was almost impossible to get the Grandkids out of the huge water park and that was only part of the water fun there. There is a massive pool, spas and even a separate lap pool for those that are serious about getting in shape.

In addition to a racket ball and inside basketball court there is also a billiard and game area. And that was only part of it.

The Club House

Ok so I don’t play golf, but I do eat and the food and service were wonderful. While I enjoyed a fantastic steak I could watch sports on one of several oversized Flat Screen TVs. It was just a very comfortable atmosphere that one would have to force themselves to leave. And yes, I am sure the golfers liked it too.

Homes in Rhodes Ranch

Most if not all of the homes in Rhodes Ranch are extremely well maintained. Rhodes Ranch consists of several different neighborhoods but all have strict regulations and covenants to maintain property values. Home prices range from the low $150k to the high $700,000s with a floor plan to fit almost everyone. One of my favorites was of course the lush green landscaping throughout all neighborhoods in the common areas. The 24 hour a day Security Guards at the entrance of this gated community and the Security Patrols are a big plus. There were a few resale homes in most of the neighborhoods but not too many and nothing like in other communities in Las Vegas.

Summary

The point is, I am glad I finally got to really see the real Rhodes Ranch and meet many friendly people there. I look forward to taking my next evening walk with John and Hyesun and exchanging more smiles and waves from other residents in this lovely community.

In all likelihood it will be the location of our next Las Vegas home.

• description: Most if not all of the homes in Rhodes Ranch are extremely well maintained. Rhodes Ranch consists of several different neighborhoods but all have strict regulations and covenants to maintain property values. Home prices range from the low $150k to the high $700,000s with a floor plan to fit almost everyone.
• title: Rhodes Ranch | Golf Homes | Las Vegas Real Estate

Once again President Obama proves he has no real concern for the housing industry by supporting the energy climate bill despite the fact procedurally the bill should have never been voted on inasmuch as a copy of the bill was NOT in the well of the House. How is this possible you ask? The bill was still being rewritten and no copies we available.

How is it that the Congress of the United States can vote 219-212 on a bill without reading it? While the main stream media kept reporting that House Speaker Nancy Pelosi and President Obama worked diligently to muster enough votes to pass the Waxman-Markey Bill, many reliable sources report Democrat Representatives were assessed and forced or excused to vote for the legislation based entirely on vulnerability for re-election in their prospective districts. This is a clear signal that even the Democrat Party understands the devastating effects on the American public.

This climate bill not only breaks President Obama’s pledge again of not raising taxes on individuals making less than $250,000 per year it will have disastrous effects on the economy and the housing industry. The “Cap and Trade” aspect of this legislation will cause utility rates to escalate for all Americans. The increase cost of doing business will be passed along to consumers on everything we use in our daily lives. Our fuel and gas costs will skyrocket. Businesses that can not justify passing on higher costs due to competition will either go out of business or move offshore. Either way this will have another negative impact on our economy and will defiantly add to our already swelling un-employment figures.

Country’s that experimented with this type of similar tax like Spain experienced devastating unemployment and abandoned it.

Affects on the Las Vegas Real Estate Market

Distressed home owners that can barley make their mortgage payments now will be forced to pay more for electric rates, gas and all goods and services they currently use. It is insane that our government would even consider raising taxes and costs on an already cash strapped citizenry.

There is also verbiage in the bill that forces homeowners to have an environmental inspection prior to being able to market their home. Windows, appliances and insulation will have to be inspected and approved by a government inspector and modifications would have to be made for compliance prior to the sale of your Las Vegas home.

Who Benefits from Cap and Trade?

Many Representatives in Congress and Senators have stock in “Green” companies and are the recipients of attention from numerous lobbyists. And let’s not forget former Vice President Al Gore who most certainly will become the first “Global Warming” Billionaire when his stocks and investments in currently worthless “Green” companies will literally be worth billions overnight. Now there is a real “Inconvenient Truth”.

CNBC, MSNBC and NBC have been avid backers of President Obama before and after the presidential campaign. Their parent company’s CEO of General Electric (NYSE:GE) Jeff Immelt has been an outspoken advocate of President Obama and his “Green Agenda”. General Electric stands to gain billions with a joint venture to handle carbon trades if the cap-and-trade bill becomes law. In an April 23, 2009 article on News Busters, author Jeff Poor sights Fox News Bill O’Reilly’s claims of corruption by GE promoting cap-and-trade for financial gain. “The level of corruption is so big, it stands to make Watergate look small.” according to Bill O’Reilly.

It seems as though everyone that supports this bill has a clear agenda and is in clear conflict with the interest of the common family in America or the health of the planet for that matter.

Obama promised change and that is one promise he seems to be intent on delivering. Change is all that will be left in our pockets if we don’t become active opponents to this trend of bigger government controlling every aspect of our lives.

Call Your Senator

Our only hope is that bill fails in the Senate. We must let every Senator know that we are against this bill in any form. Take the time to personally contact your Senators and tell them that American’s can not afford this nonsense and we will not tolerate their voting for stripping more income from us to split between special interest groups and the government. Let your Senators know that you will support their opposition in the next election cycle if they do decide to vote for this bill. And yes, that includes you Senator Harry Reid!

Get involved before it is too late Las Vegas and America. Call your Senators today.

• title: Cap and Trade Bill Will Harm Las Vegas Real Estate Market
• description: The Climate bill backed back President Obama highlighting cap-and-trade passes the house narrowly that will have devastating effects on the economy, result in higher unemployment and will further harm the fragile Las Vegas real estate market.

At the start of the talk, the original tax credit was going to be $15,000, however, after all the negotiating the tax credit is $8,000, which is still a good amount to help you purchase that new Las Vegas home.

Eligibility for the $8,000 Tax Credit

In order to receive the $8,000 tax credit you must be a first time buyer. The law explains a first time homebuyer is one that has not purchased a home three years prior to the purchase of the new home. If a couple is purchasing the home, the records of both spouses will be used to determine if they are first time buyers.

You must purchase the new home on or after January 1, 2009 and prior to December 1, 2009. The purchase date is defined as the date of the closing when the homeowners receive title to the property. The property purchased can be a new home or a resale home. The home must be the principal residence, meaning the homeowner must live in the home, it cannot be a vacation home, a rental property, or for resale purposes.

Type of Las Vegas Homes that qualify for the $8,000 tax credit

Any home that will be the principal residence of the homeowner including single family detached homes, attached homes such as condos or townhouses, manufactured homes, and houseboats.

Determining the Amount of the Tax Credit

The tax credit is determined by calculating 10% of the purchase price of the home up to $8,000.

Income Limits

The income limits are determined by a person or persons modified adjusted gross income. The MAGI is the total income for the year minus specific deductions prior to the figure you receive after the itemized deduction on personal exemptions or Schedule A. If you look at your Forms 1040 and 1040A, the adjusted gross income is the last figure you find on page 1 and 1st figure on page of the form. Take this figure and add such things as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs, this will be your MAGI.

The tax credit is reduced for homebuyer that has a MAGI of over $75,000 for singles and $150,000 for married filing a joint return. The tax credit is reduced to zero for those that have a MAGI of over $95,000 for singles or $170,000 for married. The rest of the individuals that fall somewhere in between will be reduced accordingly.

In some cases, if you are over the MAGI limit you may still qualify for a partial tax credit.

The Difference between the new $8,000 Tax Credit & the Tax Credit enacted in July of 2008

The major difference is that Obama Administration tax credit does not have to be repaid, as does the July 2008 tax credit, which is really an interest free loan.

If you need a further explanation of the Tax Credit for First Time Home Buyers program please contact the REMAX professionals at (866) 240-6522 for assistance.

• description: There is a huge buzz about the Obama Administration tax credit for first time home buyers, however, the good news is if you have not purchased a home in the last three years are in fact a first time homebuyer.
• title: First Time Home Buyers Tax Credit

While the Obama Administration promised distressed homeowners relief and loaned banking institutions tens of billions in TARP and bailout money the banks took a “wait and see” attitude and slowed or suspended home foreclosures here in the Valley and across the Nation.

Now that it appears the average homeowner will not be a part of Obama’s bailout, and that there will not be any realistic government effort to keep families in their homes the banks have once again started to move on legal proceedings to recover mortgaged property and get them off the books.

The timing of lifting the foreclosure moratorium is interesting if not suspect. Is it the realization by the banking institutions that the Calvary is not coming or is it public outcries of foul will make government handouts harder to come by for banks and distressed homeowners? It could also be that we are now in the selling season and the financial institutions are simply making a prudent business decision to act.

While motives are uncertain it is clear for both the banks and our government, it is time for the Administration to act and do so decisively. They need to cease spreading false hope to homeowners that over extended themselves to begin with. The market will not recover until it hits bottom and that can only happen without government interference while allowing the free market to work. The promise of government intervention has prolonged this crisis and adversely affected home values across the nation.

Secondly, if the government really wants to help, instead of handing out billions to the nations largest banks they could stimulate the economy and real estate industry by backing a program of guaranteeing 4% Fixed Rate loans for 30 years to qualified buyers. This would not take any money from the treasury and would be a major boost to home sales.

These are two simple steps that cost tax payers nothing that would have huge benefits to the real estate industry, our economy and homeowners. The only downside is the government will have to be honest with the voters and tell the Janitor making $15.00 an hour that he can not afford his $250k home.

We all need to live within our means if we are to overcome this crisis. This includes our government.

• description: While sales of single family Las Vegas homes have risen recently it appears as though the self imposed moratorium by the banks on foreclosures has been lifted.
• title: Foreclosure Moratorium Lifted

The so called Stimulus Bill was printed in the early hours of Friday 13th then voted on by the House only hours later. That left no time for Representatives to read let alone study the largest spending package in American history. So much for your pledge of “transparency” President Obama. Although the American public did not support this stimulus package it was railroaded through by Obama, Reid and Pelosi.

The Stimulus Bill stimulates the size of Government and will do little to stimulate the economy and it won’t take long for Americans to realize that there were more political paybacks in this legislation than there were jobs.

The catalyst for the economic crisis was real estate. Unfortunately most measures that would address that like the $15,000 credit for home buyers were stripped in the final version.

This bill moves us closer to socialism and further from solving the economic crisis while it places more debit on our children and grandchildren. I would not have minded going further in debt if the money was earmarked for programs that would actually stimulate the economy and create economic stability. Unfortunately, this bill fails miserably in accomplishing either.

No Military Spending

What would have been beneficial in many ways would have been spending on military projects. The military has hundreds of projects that are awaiting funding that are needed for the protection of our troops and would enhance military preparedness however, there are NO provisions for spending any of the $787 Billion on our military. Maintenance, equipment upgrades, construction projects and equipment replacement are just a few things that are needed by our military and could create thousands of jobs in the private sector almost immediately. And what about a pay increase for our troops? Does anyone believe they are over paid? If the military were to get an across the board pay increase, would that not stimulate the economy? Of course it would. However our Commander-In-Chief (President Barrack Obama) has decided that Planned Parenthood and ACORN are more deserving of our tax dollars than the men and women of our military.

President Barrack Obama has not only turned his back on our military with this Stimulus Bill he has told the Pentagon that he expects them to reduce their budget by 10%.

Political Paybacks

Obama’s chief of staff, Rahm Emanuel, recently stated, "You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before." And that is exactly what the Democrats are doing. We are witnessing decades of liberal wish list spending and pet projects getting funded in the name of “economic crisis” that would not normally stand a chance for funding on their own merits.

Sadly there are so many issues that could have been addressed that would have made a real impact. In that sense it was a wasted crisis.

Unfortunately the Trillion Dollar political payoff won’t be the end of it. President Obama, Senator Harry Reid and Speaker Nancy Pelosi will ask us for even more money this year. Why you ask? Because what they will spend in this bill and the programs they are spending them on will not fix or stimulate the economy.

Legacy

Yes I said it. President Obama has been in office less than thirty days and I dare to mention legacy. He has just pushed through a historical size bill in record time and now he clearly plans to waste the money on programs that simply will not work.

There is no doubt that the current Administration and the Democratic led Houses will continue to blame the previous Administration for the economic woes we face. The truth remains that this crisis was initiated by flawed real estate lending practices that were demanded by and protected by Democrats. Until we make an honest effort to correct the real problem in the economy we will not see improvement. The Administration would have you believe that when your roof is leaking all you need to do is replace the wet carpet. We all know better.

Despite the overwhelming public outcries to not pass this legislation, this bill will become law this week. While President Obama won a major political victory, he now owns the status of this economy. Too bad he is wasting our capital and his political capital to push liberal agendas when he could have been an American hero instead of a Liberal Hero.

• description: With the muscle of Senator Harry Reid and Speaker Nancy Pelosi, President Barrack Obama won a major political victory last Friday with the $787 Billion Dollar Stimulus Bill that he championed. Or did he?
• title: Stimulus Bill

Home prices per square foot are almost at a pre “Boom” level. Interest rates are at a historic low. Potential Las Vegas home Buyers have an opportunity to buy a home or condo now with an affordable monthly payment for a short period of time. A narrow window of opportunity now exists.

Why do I say they can buy at these rates for a “short period of time”? Simple, the cost per square foot on a home in Las Vegas is extremely attractive right now. Interest rates on homes may be at a historic low but can not go much lower and will most certainly rise considerably this year.

Historically, when our country begins to exit a recession we enter a period of inflation or hyperinflation. This means that interest rates on home loans will rise dramatically. So will the cost of the home. Under the President Carter Administration from 1977 – 1981 we saw mortgage rates run between 18-21%. Inflation rates in that same period were topping 18%. No one knows just how bad the inflation and interest rates will be in the near future under President Barak Obama. My best guess given the current state of the economy they will be staggering.

Rising interest rates alone is ample reason to act now if you are thinking about buying a home. Let’s do some math to illustrate what is at stake. If you are looking to finance a home at $200,000 at a 30 year fixed rate of 5.09% your payment would be $1,084.67 and the total cost of the loan would be $390,481.54 over the 30 year period. Now if you were waiting for that exact same house to be reduced by $10,000.00 and before you bought this home the interest rate jumps up only 1% the monthly payment would now be $1,150.16 and the total cost of the loan would be $414,058.72. So even if the home was reduced by $10k your monthly payments went up by 65.49 per month and your total cost over the 30 year loan went up by $23,577.18. And now this is assuming the price of the home was reduced the full $10k. If it did not, the difference is even more drastic.

Now there is absolutely no doubt that interest rates will go up in the near future. Will they go down any more before they go up? I have no idea, but the illustration above shows that once they do go up your total cost of hosing will increase substantially.

In my humble opinion we are all faced with a short term opportunity to purchase affordable housing. How long this window of opportunity will last is uncertain. So if you are considering purchasing a Las Vegas home in the near future the time may be sooner rather than later.

• description: A lot of Las Vegas real estate Buyers have been sitting on the fence for months hoping prices would continue to drop. And have home prices dropped over this past year. Some areas in the Las Vegas Valley have seen up to a 30% price reduction in just this past year.
• title: Time to Buy a Las Vegas Home is Now

Other real estate bloggers have inaccurately described this program as being designed for homeowners with sub-prime loans that need relief. This program is for anyone with a mortgage that is 90 days delinquent regardless of what type of mortgage it is. According to U.S. Secretary of Treasury Henry Paulson, "This is an important new initiative targeted not only sub-prime borrowers, but all 90 day delinquent homeowners."

Project Lifeline will give a 30 day grace period for homeowners that have mortgages with the participating six mortgage companies only. This 30 day foreclosure reprieve is to allow delinquent homeowners time to seek refinancing.

This as other programs before it does little to address the real problem with foreclosures here in the Las Vegas real estate market and elsewhere, and falls woefully short of any real solution for distressed homeowners or the Las Vegas real estate industry. Project Lifeline is little more than a “feel good” news item that only those unaffected by foreclosure would or could receive any solace from. A 30 day reprieve on foreclosures is simply not enough time for a distressed homeowner to refinance.

I am not advocating that our government step in a bail out homeowners that bit off more than they could chew but I am sick and tired of these "do nothing" programs that are being announced weekly as if they will have a positive impact on a deteriorating situation. If our government intends to act then they need to do so in a positive manner. If they intend to let the situation work itself out than they need to so state their intentions and let the market take its hits and begin a natural healing process. This weekly deception guised as potential government intervention of foreclosures is slowing down the market recovery and needs to stop. It is time for our government to quit riding the fence. Either fix it or state clearly that you have no intention of fixing it.

• title: Project Lifeline – 30 Day Foreclosure Reprieve
• description: This week saw yet another program introduced, Project Lifeline, to stop the foreclosure tsunami here in the U.S. housing market.

However, what does the Economic Stimulus Act of 2008 have to do with the real estate market? The good part for homebuyers facing foreclosure is that FHA, Fannie Mae, and Freddie Mac will have an increase in the limit of the loan they can give to people wishing to purchase a home or refinance their home at a better interest rate. In the areas where the cost of living is very high, the percentage will rise from 87% to up to 175% whereas in other areas the percentage will rise from 48% to 65%. Along with this, it will also increase loan limits for single-family dwellings from Freddie Mac and Fannie Mae from $417,000 up to $729,750 that covers loans made between July 31, 2007, and December 31, 2008.

In smaller communities where the cost of living is not high, loans from either agency may not increase.

With the increase in loan limits, more people will be able to purchase homes since the government guarantees the loan. This is a great benefit for many that wish to purchase and receive all the added benefits that come with these programs. The increase in the loan limits along with the benefits will allow more homebuyers the opportunity to step up and purchase their dream home. In addition, individuals in ARM loans or high monthly payments will also be able to refinance through FHA, Fannie Mae, or Freddie Mac enabling them to avoid foreclosure.

• title: Economic Stimulus Act of 2008 – RE/MAX Las Vegas
• description: How the Economic Stimulus Act of 2008 will affect the real estate market.

The economic factors in the Las Vegas area that affect both demand and supply include the job market, the rise in the price of home values, and the economic outlook. The job market has quite a bit to do with the real estate market. If there are good jobs available, then people will want to move to the area and there will be an increase in the demand for homes for these individuals. However, if there are not many jobs available the demand for homes will decrease.

Home Values

When home values rise, buyers feel they can sell their home, move to a new location, and pay cash for their new home. Because of this, they can improve their lifestyle when they sell their home and move to a better neighborhood. When home values go up you will find more homes on the market since home sellers would love to sell their home and better their lifestyle.

Everyone looks at the economic outlook. When things occur in the stock market, social events, or stock market that causes investors to worry about future events they take their funds out of stocks, stop buying, and sit on their money. When everything looks good in these areas, investors spend more money.

Demand for Las Vegas Real Estate

The demand for real estate in Las Vegas is affected by such things as interest rates, how other real estate markets are doing across the US, entertainment, and the local economy. Interest rates have a lot to do when it comes to buyers being able to purchase homes. When interest rates are low, home buyers can afford more home for their money. When interest rates are high, home buyers cannot afford as much. If home values are high in such states as California, Florida, or other areas of the United States, people will sell their homes and move to Las Vegas to better their lifestyle. Entertainment is one reason people move to Las Vegas. There are so many entertainment options in the Las Vegas area all year long that is a major draw for most people wanting to better their lifestyle. Las Vegas has a strong economy that has been strong for years and it is estimated that it will be strong for the next decade due to all the new developments under construction bringing more jobs to the area.

• title: What Affects the Las Vegas Real Estate Market
• description: There are several things that affect Las Vegas real estate many of which are economic factors.

All across America, we are seeing a buyers market and of course many scary words coming from the mouths of analysts. However, the economy is beginning to boom in Las Vegas and so is the real estate market. There are several new projects under way in the downtown area of Las Vegas and along the strip that will have the casino industry alone needing 113,500 workers in the next few years just for the 45,000 new hotel rooms that are in the planning or construction stages. Some of the huge projects on the table for Las Vegas include City Center, Palazzo, Encore, Echelon Place, Station Casinos, Turnberry Associates Fontainebleau, and the Trump International Hotel and Tower. Along with the casinos, there are many condo communities planned that will be self contained so residents have all they need in one location and the excitement of Las Vegas just outside their urban community.

It is being estimated by the Southern Nevada Homebuilders Associations that the need for housing will be increasing beginning in 2008 all the way through 2012. A matter of fact, there will be a demand for around 177,400 housing units. The demand is going to be high and this means that the real estate market is about to take an uphill climb in Las Vegas since it is believed there will be a shortage of housing opportunities by the year 2009.

The economy in Las Vegas is still very strong without much change. In addition, to the strong economy there are many billion-dollar projects in the works. In July of 2006, Nevada was at the top of the list in job growth and is still going strong.

Prices of Las Vegas homes have gone down just a bit with the median price at $280,085 in December whereas for the same time last year the median price was at $337,781. Las Vegas has 95 high-rise construction projects on the drawing board or in some stage of construction with the smaller unit’s prices around $400,000, which is on average around $1,000 per square foot.

If you are watching for a change in the real estate market and the economy for America, keep your eye on Las Vegas. They are leading the pact by working on creating new jobs and more urban style living.