Closing Conducted by: | Title Companies, Escrow Companies, Lenders |
Conveyance: | Grant Deed |
Primary Foreclosure Method: | Non-Judicial |
Process Period: | 3 - 5 Months |
Notice of Sale: | Trustee |
Redemption Period: | None |
Income Tax: | None |
Corporate Tax: | None |
Sales Tax: | 6.85% |
Estate Tax: | No |
Inheritance Tax: | No |
Median Property Tax: | 0.84% |
Property Taxes by County: | http://www.tax-rates.org/nevada/property-tax#Counties |
Closing Cost: | $2,265.00 |
Transfer Fee: | Transfer fee: Up to 700,000 county population 0.13%; over 700,000 county population 0.25%; Tax regardless of size 0.26% |
Origination Fee: | $1,570.00 |
Lyon (1 in every 22,979)
Clark (1 in every 175,523)
Washoe (1 in every 191,068)
Tax Lien or Deed: Tax Lien and Tax Deed state
Interest Rate: 10%
Redemption Period: 2-3 years (depending on property type)
Mesquite could see an influx of buyers: With a median home value roughly $24,000 less than the state average, Mesquite looks like it may represent a bargain. That said, there’s reason to believe Mesquite should see an influx of younger buyers who are looking to find cheaper alternatives to cities like Reno, Las Vegas, and Carson City. Having already appreciated more than the state average in the last year, Mesquite’s median home value should continue the trend upwards. The attention generated by the city's relative affordability will potentially attract new buyers and stimulate higher appreciation rates. As a result, Mesquite could be a good place for local investors to consider looking.
Inventory will drive appreciation: Not unlike every other state across the country, the Nevada real estate market has found itself lacking in the inventory department. Most of Nevada’s largest cities, for that matter, have far fewer available listings than balanced markets typically exhibit, and the pandemic only made things worse. As a result, competition over the available houses has simultaneously increased prices and made it more difficult for buyers. And while new inventory is expected to come eventually, new listings are still a ways out, which means prices should increase for the foreseeable future
More people will move to the suburbs: Without a need for many people to live close to an office, many people are expecting a mass exodus from large cities. Today's work-from-home culture has enabled everyone to pack up and move to less-expensive and larger living spaces. As a result, we may see metropolitan prices decrease while suburban prices increase.