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There are no surprises once again inventory continues to decline, and we have seen it go down another 140 homes this week and went down 175 the previous week. We have 4,674 single family homes on the market and that is down significantly from back earlier this year. We put 808 homes in escrow and closed 605 and we saw 160 homes get withdrawn from the market. Median sold price was at $344,876 and Continue Reading
BHHS
Weekly updates on Southern Nevada Housing Market -11/05/2020
Let’s talk about week 10/22/2020 we had 5,001 homes available on the market and we put 736 homes in escrow. Now we say homes, this chart is only for single family homes. We closed 701 homes and 156 were withdrawn and the median sold price $340,126, median sold price per square feet is $183.37. The inventory continues to shrink and the number of homes in escrow went down a little, but the closing Continue Reading
Commonly asked real estate questions
First question, what if anything are you doing differently to get homes sold today in COVID, crazy world and is there a new trick or sales tactic that’s working especially well? The short answer is no, but the good answer is in today's market, we have to make sure sellers follow protocols and make sure that we are showing houses in a proper factor but the rest of the things are mostly true methods Continue Reading
Weekly updates on Southern Nevada Housing Market -09/10/2020
We have seen the loan business / mortgage business it is crazy busy right now and doing a ton of refinance, there is so much business all the way around. John read a headline from CNDC on their website that mortgage lenders are making the most money and being super business and it is true according to John. As soon as we reopened (Las Vegas) and how interest rates fell too, it led to a fire under Continue Reading
Weekly updates on Southern Nevada Housing Market -09/03/2020
Inventory today would reflect that it is a sellers’ market, prices are going up but not drastically. And while the median prices are going up that is mainly a function of the product mix. In other words, there is a lot of more expensive homes that are selling right now than homes that are at the bottom of the ladder. Considering that it is a challenge for buyers right now, but buyers are still Continue Reading
Weekly updates on Southern Nevada Housing Market -08/20/2020
We have been tracking single family homes every week since March 2020. Now we are going to share with you, now this week we have currently available 5,241 homes on the market, that is up 15 from last week. In escrow the past seven days we put 883 homes in escrow, we closed 625 single family homes. 171 homes were withdrawn from the market, but that number has not really changed this whole time Continue Reading
Renting vs Buying
One of the main reasons to buy in Las Vegas right now (August 2020) is because the cost of buying is so good right now. Interest rates are at an all time low. Harvey explains in this video about this article he read from Fidelity that reviews this formula; if you take your annual rent, divide it by the price of a home purchase, if that number is less than 20, then you should buy. If the number is Continue Reading
Weekly updates on Southern Nevada Housing Market -07/23/2020
Inventory continues to shrink this week we went down 5,193 single family homes available on the market. We put another 876 homes in escrow and that went up by 23 from the prior week. We closed on escrow 695 that is up by 38 homes and 150 homes were withdrawn from the MLS and it is down from last week. That is a small number nothing unusual anywhere from two hundred is pretty much normal at any Continue Reading
Weekly updates on Southern Nevada Housing Market -07/09/2020
A new median price for the month of June for Southern Nevada that is the surprise for today’s show! This past week we currently have available 5,326 homes on the market. Now this is only single-family homes, in escrow we have 813 that is a good number to see. For closing we have 456 homes it went down significantly from the week before which was at 844 homes that have sold. Withdrawn we have 161 Continue Reading
Weekly updates on Southern Nevada Housing Market -07/02/2020
They stop manufacturing R-22 units back in 2010 and no longer allowed to manufacture nor reproduce it. But you can still use it for HVAC units there is a lot of misinformation going around the industry that if you have an older unit that has that R-22 you need to get it replaced as soon as possible. You can actually use R-22 in a unit for the next 10 years. So there is really no rush, EPA said Continue Reading
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