THE SEASON BEGINS April is a month of change for many reasons. Most obvious is the annual weather adjustment from the bitterness of the cold and absence of color to the gentle nighttime temperatures, which bring the overnight explosion of the flowering fruit trees. For those of us that are homeowners, it is now that we prepare our checklists for those minor repairs that have been put on hold Continue Reading
trends - Page 3
Full Circle
FULL CIRCLE It was only 16 years ago that I relocated to the Las Vegas area. I feel like a native resident that has experienced a lifetime of changes to their once quaint town. The fluctuations in the real estate market have gone full circle. In 1995 we saw nominal appreciation with reasonable value to entice the newcomer. Just a few years forward in time the frenzy had started with values soaring Continue Reading
February Market Conditions
FEBRUARY MARKET CONDITIONS Available inventory remains stable in the market. Prices remain stable for listings under $200,000. Listings above that are still experiencing some small drops. Short sales dominate our market but traditional sellers are making up a bigger portion of our current inventory than we've seen in recent years. We've seen some small improvement in appraisals where the Continue Reading
Short Sale Appraisals
SHORT SALE APPRAISALS We are seeing a recurring issue in trying to close deals when there is a third party approval required (Short Sale). The lender (servicer, investor, MI company, etc) is countering the offer with an inflated value on the property. When we challenge the counter by pointing out that the comparable properties don't support their inflated counter offer the lender invariably Continue Reading
A Testimonial From A Referring Agent
Subject:Las Vegas Realtor Dear Willa – I saw your message in today’s ePro email regarding a buyer for Las Vegas. I referred one of my buyers to Harvey Blankfeld, CRS, ABR. He’s with Prudential Americana and his team is the Blankfeld Group. His phone number is 702-203-1165. His email is Harvey@BrownBlankfeld.com. My client loved Harvey and is very happy with the purchase she made in Las Continue Reading
October Market Conditions
OCTOBER MARKET CONDITIONS Inventory is increasing due to a growing number of REO's (Foreclosures) in our market. Activity has fallen off since the tax credit has expired. Las Vegas home prices are holding steady but we believe that prices may fall over the next several months. This is because inventory continues to grow and activity continues to decrease as heading to the holiday season. Short Continue Reading
July Market Conditions – Selling Market?
While pricing remains stable, inventories have grown since the removal of the federal tax credit. We are stil selling to those that were not eligible to those that were not eligible for the tax credit but the demand has decreased. Short sales are dominating our selling market. More buyers are willing to wait the extended periods it takes to close for those selling. Investors are still seeking Continue Reading
June Market Conditions
While inventory remains tight and low, lenders and appraisers are keeping prices low as well. Activity is still strong. Inventory levels indicate a seller's market but pricing continues to favor buyers. Continue Reading
The Forecast is for Rain
As I write the May Newsletter, I am sitting here at my office desk, looking out the spacious window that views a flowering plum tree and a multitude of blossoming shrubs and trees whose names have long escaped me. I am quite fortunate to have an office that allows me to keep in touch with the beauty of the outdoor landscape. This view has inspired me on many an occasion. Today the sun is shining Continue Reading
The Contingency Tales
The meaning of the word "contingent" with regard to a real estate sale has changed dramatically over the years. Originally, when I first started selling real estate the term "contingent" was used when the house was sold "contingent on the buyer selling his existing home". These buyers could be "bumped" from the transaction by a buyer without a home to sell. There was usually a "first right of Continue Reading