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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 We closed 701 homes and 156 were withdrawn and the median sold price $340,126, median sold price per square feet is $183.37.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
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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
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 -07/09/2020
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 Withdrawn we have 161 Continue Reading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
Supply & Demand in Las Vegas
Is right now a good time to buy or sell? We have the expert Harvey Blankfeld joining Las Vegas NOW. Harvey has not really seen any slow down in the in the market but there is less activity than usual, but prices have held and the prices are not making any major slip or increase. It’s been pretty steady; inventory have been steady dropping as well in the last 6 to 8 weeks. We are seeing good Continue Reading
Weekly updates on Southern Nevada Housing Market -04/02/2020
First is that your tax return are not due on April 15th, 2020, your tax return will now be July 15th 2020 and if you do not have it done by July you can put an extension until October 15th, 2020. To go along with that if you are required to make the estimated tax payments this will be a little confusing, your first estimated tax payment is due July 15th and your second estimated tax Continue Reading
Weekly updates on Southern Nevada Housing Market -05/14/2020
Here are a couple of things to take into concertation that has become reality, there has been some conversations about the negative consequences about forbearance. Strictly in the law states banks are not allowed to report you late if you have ask or obtain a forbearance on your mortgage and delay those payments is true. But what is getting hid underneath the surface is that they are Continue Reading
Weekly updates on Southern Nevada Housing Market -05/07/2020
Homeowners are wondering on what is going on with home mortgages. Right now, mortgage rates are really good it also depending on how much money you are willing to put down, credit scores and etcetera. Because of the Corona virus situation, the mortgage market with the GFC (government sponsored entities) like Freddy Mac, Ginnie Mae these are the mortgage securities and they buy up loans Continue Reading
Weekly updates on Southern Nevada Housing Market -04/30/2020
Let’s talk about the market conditions for week, now this is only single family homes and we currently have 6,360 homes available we are going based off of past seven days 505 went into escrow that went up by 47 from the prior week and we have closed 369 homes and our closing are down by 41, and 130 homes have been withdrawn from the market that is down from last week. The median sold Continue Reading
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