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4 Tips for Buying a Home in Downtown Las Vegas

By U.S. News & World Report

Buying a home in downtown Las Vegas might have seemed out of the question not long ago. But today, after recent redevelopment efforts, the area is becoming an increasingly attractive and popular option. The downtown area bustles with new restaurants and cultural activity, abetted by easy access to public transportation, which is rare in Las Vegas.

“There is no other part of the [Las Vegas] valley where you can walk or bike to the theater or to a dining establishment, have some cocktails afterward, and then walk or bike back home. Las Vegas is pretty much a giant suburb, and you can’t get that quality of life anywhere else in the valley,” says Steven Franklin, a Realtor with Elite Realty who goes by the nickname “Downtown Steve.”

To help you navigate the downtown Vegas real estate market, here are four tips from some of downtown Las Vegas’ top real estate agents, as identified by Agent Explore, a real estate technology company (and U.S. News partner).

Get to know the place.

Before you start your home search, spend some time exploring downtown Vegas neighborhoods. While there are no official downtown boundaries, the area is roughly bordered by Sahara Avenue to the south, U.S. Route 95 to the north, Eastern Avenue to the east and Valley View Boulevard to the west, Franklin says.

[Read: 4 Under-the-Radar Neighborhoods in Las Vegas.]

Nora Aguirre, Realtor and co-owner of Source Realty, also recommends doing research on future development and zoning plans. “You [want to] know if there is a possibility of you having to sell in the future because the commercial zone expands, or because a project goes right next to your home and that’s not what you want,” she says.

At the same time, some people might want to invest in a property that may be affected by future development as it may increase the value of the home, she adds.

Understand your options.

Living downtown doesn’t mean you’re limited to condos and lofts. “You can have anything from a 1930s 900-square-foot bungalow to a 3,000-square-foot home in a guard-gated community,” Franklin says. “There’s horse property available downtown [meaning it’s zoned to allow owners to keep horses]. There are high-rises available downtown, and there are newer housing projects more typical of a suburban home. Pretty much whatever type of living situation you are looking for is available within a 2-mile radius of the core of downtown.”

Aguirre says, “I sell quite a bit of single-family residences downtown.” She adds that single-family homes downtown can range from $180,000 to $400,000, depending on the square footage and upgrades they feature.

As for condos downtown, they are typically more expensive than a single-family home. Aguirre says The Ogden is a popular high-rise located in the center of downtown, and she has found that units there are typically priced between $400,000 and $600,000.

[Read: 4 Things to Consider Before Buying a Las Vegas Condo.]

Be ready for an older home.

A home downtown may be more affordable than a condo, but it’s likely older. Because the development of Las Vegas began downtown, the homes there are some of the city’s original residences. So, if you do purchase a home, pay close attention to the home inspection. “When we close, I always tell buyers that they are going to find something wrong with the house that they didn’t know about,” Franklin says.

Choose an agent with experience downtown.

The greater Las Vegas real estate market is so large and diverse that a Las Vegas real estate agent might sell hundreds of homes and never handle a property downtown. Agents with less experience downtown may not be as familiar with the different neighborhoods and housing options available. More importantly, they may not be able to effectively negotiate the price of a home.

[Read: A First-Time Homebuyer’s Guide to Las Vegas.]

“Appraisals can be an issue downtown because most appraisers are used to appraising homes that are in neighborhoods in master-planned communities where it is easier to find comparable homes,” Franklin says. “For downtown, it takes someone who has a little more knowledge of the area to come up with a true value in today’s market.” To ensure you don’t overpay, work with an agent who has experience buying and selling properties downtown.

Looking for a real estate agent in Las Vegas? U.S. News’ Find an Agent tool can match you with the person who’s most qualified for the job.

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4 Tips for Buying a Home in Downtown Las Vegas originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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