In November 2023, we currently had 4,514 available homes, 1,548 homes sold and currently 2.92 months of available inventory. We currently are experiencing a 15 year low on activity, yet prices are not dropping! Seasonality does have something to do with the market and find out what we think will happen for the next few months. Continue Reading
inventory
RERNLV Has An ALL-NEW Show TODAY AT 11 AM! Check It!
RERNLV HAS AN ALL-NEW SHOW TODAY AT 11 AM! CHECK IT! Harvey and his contributors are bringing you an ALL-NEW RERNLV at 11 AM on AM720 KDWN! This one is going to be a doozy! First up, Harvey welcomes Equity Title of Nevada president Tracy Ruccia to the show. She uses her appearance as a chance to discuss holding title. How is a title held when you're selling a home? How should you hold title Continue Reading
Las Vegas Real Estate NOW Radio Show – April 20th Air Date
With each passing week, our radio show broadcasts get better and better and April 20th's was no exception. We had wonderful guests join us in studio including Daniel Chung of Mass Mutual, Rick Saxen of American Best Insurance and Joey Toth of Pitbull Pest Control. In addition to the segments from our expert contributors that featured information regarding protecting your business assets, condo Continue Reading
Team Member Leticia “Tish” Gonzales on the Air!!
Our radio show on April 13th featured one of the partners on our team, Leticia "Tish" Gonzales, who joined the team 5 years ago after doing New Home Sales for a decade. Tish and Harvey discussed the difference between buying a new home or a resale home. They also discussed "standing inventory" homes and the best recommendations for buyer options during building. Another topic they provided Continue Reading
ANOTHER BIG NUMBER- AN ASKING PRICE THAT IS TOO HIGH!
My background prior to my 25 year real estate career was in the field of education. I was always going to be a teacher and got my degree in French from the University of Nevada, Reno. When I got into real estate in 1986, I was told teachers were generally successful in this field and it made sense to me. Buying or selling a house is an educational process. The terminology and the processes are Continue Reading
Our Inventory is Growing
OUR INVENTORY IS GROWING We have seen an increase in available homes over the last 90 days. We were at 3512 available homes then and we are now over 6,000. That means that buyers will now find it a bit easier to find their perfect home and less competition to buy it. This is still a small number for our market. Does this mean we will see a big dip in prices? I don't think so, because we have Continue Reading
Where are the homes?
WHERE ARE THE HOMES? The inventory of available homes here in Southern Nevada has been hovering around 4,000 for many months now. Buyers are wondering where all the homes are so they can buy again. The theory is that the "banks" are sitting on a lot of homes and they are going to release them soon. My colleagues and I don't believe the banks will release a lot of Vegas houses here. We don't Continue Reading
Appraisals are coming in again!
APPRAISALS ARE COMING IN AGAIN You may remember my rant some time a go about appraisals hindering the ability of regular home owners to purchase a home. Well, don't let it be said that I don't give credit where credit is due. We are seeing appraisers do their job properly and allowing values to increase so regular home buyers can buy again. There is still the odd exception, but generally we are Continue Reading
Las Vegas Real Estate Market Update April 2012
LAS VEGAS REAL ESTATE MARKET UPDATE APRIL 2012 Have you ever heard the saying "If you don't like the weather, wait a minute." Well, that applies to our real estate market too. The most recent development surrounds our current inventory. As of this moment we have 5,474 single family homes available in our entire multiple list. We have 13,113 single family homes in escrow. We have closed 3,195 Continue Reading
What Should I Do With A Low Offer On My Short Sale Listing?
WHAT SHOULD I DO WITH A LOW OFFER ON MY SHORT SALE LISTING? Short sales are unique in a lot of ways. One way they aren't unique here in Las Vegas is that the bank holding the lien will want fair market value for the home. The lien holder will recognize that they need to offer some discount for the inconvenience, but that discount is usually in the form of buyer closing costs or a couple of Continue Reading