Lately, I have been asked this question quite a bit. My answer is always, "It depends". Everyone has a different circumstance. Let me give you some possible scenarios that may come close to your situation. These scenarios do not accommodate changing real estate markets. When you move from one city or state to another there are market differences to take into account. For the sake of Continue Reading
harvey blankfeld
Weekly updates on Southern Nevada Housing Market -11/12/2020
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 We put 808 homes in escrow and closed 605 and we saw 160 homes get withdrawn from the market.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
Weekly updates on Southern Nevada Housing Market -10/15/2020
Let us start with our weekly update and for this week we have 5,094 homes currently available. Now please remember this only single-family homes. It is down by 11 from last week. We still have pretty low inventory still, in the last 7 days we put 865 homes in escrow. And we closed 621 homes and 159 were withdrawn. The median of the sold price is $335,108 it went down a lot from last week, but then 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 -10/01/2020
This week we have the total of available 5,117 on the market and please remember these are only single-family homes. In escrow we have 889 homes in contract and that is down by a little from the previous week. Also, inventor went down as well in the last week and we have closed 924 homes that went up a lot, that is a nice number to have. 200 homes have been withdrawn that is a pretty big number Continue Reading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
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