The Not So Weak Housing Market

Housing prices are rising quickly and buyers are scrambling to buy property. Throughout the market prices began to increase and in Las Vegas the median price is now $127,900 up four percent. Financial institutions have extremely low mortgage rates and are starting to halt on foreclosures turning to short sales instead. Are these good signs for...

Self Help Market

Las Vegas has seen its fair share of ups and downs throughout the last five years but appears to be diversifying itself. So far 2012 is showing major growth in our job market which rose to 2,200 additional jobs as of February, which is the first step to a recovering housing market. A housing market research company reported signs of economic...

Skyrocketing New Home Sales

April proved to be a stellar month for NEW home sales in the Las Vegas area jumping 34.5% from last year’s totals. Home builders are continuing to surge forward getting permits and beginning new builds all over Vegas. A few pundits question about the need to introduce new inventory to the local market. Anyone trying to buy a house today would...

Six-Year Coma Over?

The Greater Las Vegas Association (GLVAR) announced for the third straight week that home prices have rose, up four percent from March. It’s allowing semi-halt to the foreclosure process but experts suggest that by no stretch of the imagination is it over. It will be a long process to get the housing market out of its years of heartache but it...

Change of Pace

The numbers back up what our clients already know! Super low prices and investors buying available units with cash has caused a bigger demand for homes on the market, triggering a price increases. Although the prices are increasing , now 3 consecutive months, sales velocity is not slowing down. in April home sales rose a little over four percent...

HOAs Under Fire

Hundreds of Home Owner Associations might be feeling like they are under assault due to a massive lawsuit filed by two Las Vegas attorneys. The claim involves the HOAs charging too much to the government for foreclosures and creating steps in the process not afforded by statute. What does this mean for homeowners in these HOAs? If the HOAs lose...

Plummeting Foreclosures

Recently in the Las Vegas Review Journal an article mentioned that foreclosures have decreased by fifty percent in the last year. This may look like great news on the surface and the market is enjoying an exuberance not seen in almost 8 years. But there are many factors leading to the decline of foreclosures and why HOA’s are super active in...

Shrinking Supply

With cash buyers taking up more than half of anything being listed its making it hard for buyers taking out loans or waiting to get pre-approved. A recent article in the Las Vegas Review Journal showed that the inventory for single family homes without any offers is down to 4,900 which average out to around a six week supply. We can only hope that...

Selling Like Hot Cakes

An article today in the Las Vegas Sun showed that the housing market is starting to get better. With new listings getting multiple offers in the first day it is looking like a ‘Seller’s Market’. Lowered prices and interest rates are playing a major part in the slow progression in our market just the right motivation we need to keep our...

Flooding Las Vegas

Recently in the Los Angeles Times, an article showed home sales in the Las Vegas area went up 5% from cash buyers flooding our housing market. In a single month the cash buyers flocked to Vegas snatching up 53% of the housing inventory. For the full article please follow this...