subject: Las Vegas Appraisers-the Right Play In The Real Estate Game [print this page] Las Vegas real estate; talk about volatility! For years, buying a home in Las Vegas was all the rage, either as a single family dwelling or a rental property, but like everything else in Las Vegas, real estate is a gamble. It wasn't long before it became prohibitive for investors, and even the homeowner market started taking hits. There are even large hotel and casino projects sitting unfinished because of the economy and other prohibitive costs.
The Federal Reserve has stated that real estate appraisals should, "determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." With this in mind, whether you are new to the market or a long-time player in the Las Vegas market, it is absolutely essential to find an honest appraiser. One particular case, often overlooked is in the case of a family tragedy, such as death or divorce.
In the case of divorce, an honest and accurate appraisal is required by the courts to come to a just and equitable settlement. Having this done accurately and in a timely manner can help both parties to move on and start building their lives. In cases of death and inheritance, having an honest appraisal will clarify the requirements for taxation and will help you determine whether to hold or fold on the property.
This is true anywhere, but all the more so in Las Vegas. There are new businesses and casinos cropping up all the time, and an appraiser will know not only the current value of the property at hand, but also should also be able to advice on the rise or fall of the property value based on civic and commercial planning; information that may or may not be readily available to the public at large. The home you are contemplating selling today might be worth a whole lot more if zoning or near-by development and urban renewal is on the planning slate.
Regardless of the situation, a Las Vegas appraiser will help you make an educated decision about whether to buy, hold, or move a property. If it's a matter of inheritance, a local Las Vegas appraiser will have the inside information you need to make the right investment choice. When it comes to Las Vegas, the opportunity is always there; it's just a matter of making the right play at the right time.
