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Las Vegas Real Estate

Read articles on emerging market trends and the latest statistics from the local Las Vegas real estate market.

Found 134 blog entries about Las Vegas Real Estate.

Rising home prices are pushing more people to rent that at any time in more than 50 years, according to a new report.


A new analysis of Census Bureau data by the Pew Research Center found that more US households are headed by renters than at any time since at least 1965, according to a MarketWatch report.

“The total number of households in the United States grew by 7.6 million between 2006 and 2016,” the Pew Research analysis said. “But over the same period, the number of households headed by owners remained relatively flat, in part because of the lingering effects of the housing crisis.”

The percentage of households renting was just over 31% in 2006. By 2016, it had risen to nearly 37%, MarketWatch reported.

“Certain demographic groups – such as young

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Selling a home is a business -- take the personal out of it


Key Takeaways:

  • Sellers should keep the home in a ready-to-show state, which means toning down decor, cranking the air conditioning and turning up the lights.

The sellers have decluttered, painted, made repairs and spiffed up the landscaping. The curb appeal is at its best. After the long process of getting the home listed, the for sale sign is up. Now what?

 

1. Never turn down a showing

Remember the Murphy’s Law of real estate: Whenever it is inconvenient, the appointment center will call. Try your best to accommodate all showings.

Every showing could be “the one.” Some buyers cannot, or will not, reschedule. The more buyers who see your

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Young Americans are delaying homeownership because they're burdened with student loan debt, waiting longer to get married and have kids, and spending more on renting. Some are still living with their parents — especially in certain parts of the country.

Waiting longer to buy a home means there's plenty of time to prepare financially if homeownership is on your list of life goals.

Below, we've outlined seven of the dumbest money moves to avoid before you buy a home:

1. Expect to get a big return.

If someone asks why you want to buy a house and your first answer is something along the lines of "Because I'm wasting money on rent," or "Because it's a good investment," you might not be mentally prepared for all the responsibilities

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For first-time home buyers, the challenge of coming up with a 20% mortgage down payment is often difficult enough to keep them out of the market. But the fact is, the 20% down payment is all but dead — and has been for quite some time, especially for first-time buyers.

Most buyers make down payments lower than 20%

“It’s been my experience that about half of my clients know that there are loans and/or programs that require less than 20% down,” says Kris Lindahl, a real estate agent in Blaine, Minnesota. “The other half still think that they must have at least 20% down in order to qualify for a home mortgage.”

But most people don’t put 20% down on a home, even though it’s the benchmark most often quoted by lenders and mortgage experts. More than

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Home price data for April shows another record high, the fifth consecutive month of new peaks.


The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index which covers all 9 US census areas hit its highest reading (188.50), rising 5.5% from a year earlier, but easing from the 5.6% gain for March.

The 10-City Composite annual increase was 4.9% (to 197.19), down from 5.2% the previous month; and the 20-City Composite posted a 5.7% year-over-year gain (to 210.64), down from 5.9% in March.

Month-over-month (before seasonal adjustments), the National Index was up 0.9% in April; the 10-City was up 0.8% and the 20-City gained 0.9%. After seasonal adjustments, the National and 10-City readings were 0.2% and the 20-City was up 0.3%.


Home prices set record for 5th straight month

“As home prices

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Lenders are concerned over general economic conditions, and they are easing their credit standards to cope with the anticipated slowdown in market demand.


Fannie Mae said in an outlook report that more lenders expect to implement less stringent standards in the next three months for GSE eligible, non-GSE eligible and government loans as lenders report a drop in purchase mortgage demand.



“The drop in purchase mortgage demand also reflects the latest finding in the Fannie Mae National Housing Survey, in which the net share of consumers who reported that now is a good time to buy a home dropped to a record low,” the government-sponsored enterprise also said.

Doug Duncan, senior vice president and chief economist at Fannie Mae said, “Expectations

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It’s been a year since the start of the Great Recession but it appears that the slow recovery of the US housing market is almost complete.

Most markets have returned to normal according to an analysis by the Joint Center for Housing Studies of Harvard University.

US housing market has returned to normal say academics

Its State of the Nation’s Housing report shows that housing demand and prices are rising along with residential construction and the number of distressed homeowners has fallen sharply.

However, it’s not all good news as the well-documented tight supply hindering many markets is hitting affordability and supply of new homes continues to lag demand.

“While the recovery in home prices reflects a welcome pickup in demand, it is also being driven by very tight supply,” says Chris Herbert, the Center’s

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Don't hold your breath for a recession anytime soon, says Cushman & Wakefield's global chief economist

BYAMBER TAUFEN 
Staff Writer
JUN 15 

Key Takeaways

  • Kevin Thorpe, global chief economist at Cushman & Wakefield, thinks there's little cause to worry about a recession in the next couple of years.
  • Consumer confidence is high, and although the government is experiencing gridlock in Washington, D.C., Thorpe expects at least a few of President Trump's financial policies to pass.
  • There's a labor shortage that's more acute than we've seen in years, and office space is being overbuilt.

DENVER — “This is going to be the longest economic expansion in the post-World-War-II era,” stated Kevin Thorpe,

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The misconception about down payments continue to hinder millennials from the possibility of owning a home.

An outlook study conducted by United Shore Financial Services along with Michigan State University found out that a whopping 96% of its respondents became more interested in purchasing a home after finding out that down payment could actually be the same as two months’ worth of rent.

Industry professionals at a recent Mortgage Bankers Association (MBA) conference cited the belief that a 20% down payment was required to get a mortgage as “the greatest cause of confusion among first-time homebuyers.” This was evident in United Shore’s survey, as 67% of millennials thought the 20% down was indeed necessary, while only 7% were aware that a down payment

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Why CMAs, appraisals and listing prices aren't always important

 

Key Takeaways

  • Many buyers mistakenly listen to the advice of friends and family before consulting an agent.
  • A home is always worth what the highest bidder is willing to pay.

With an extreme shortage of housing inventory plaguing many markets across the country, many homeowner wannabes are locked in an epic struggle to purchase a home.

Unfortunately, some of these buyers are receiving advice from friends and family that is preventing them from scoring a home.

In order for buyers to effectively compete in the current market maelstrom, I believe they need to be encouraged to forget eight critical things.

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