November 2017

The Southern Nevada economy continues to expand, and the population base has responded accordingly. An influx of new residents has helped bolster demand in the housing market.

With strengthening conditions experienced throughout 2017 expected to continue, similar housing supply-demand dynamics are likely to follow.

In October 2017, single family prices jumped 13.4 percent compared to last year, and the number of closings were also up 13.4 percent from 12 months ago.

Effective availability fell to 1.7 months (down 40.5 percent).

The number of notices of default spiked in October as regulatory and filing fee changes adjusted, but the impacts of foreclosure activity overall appears to be an issue of the past.

Resale market information in this

BUYING A NEWLY CONSTRUCTED HOME INVOLVES MANAGING A BIG PROJECT THAT NEEDS A REALTOR'S HELP

KEY TAKEAWAYS:
BUYING A NEW HOME IS NOT A SLAM DUNK; THERE IS A PROCESS TO MANAGE AND A MYRIAD OF DETAILS TO OVERSEE. IT IS IMPORTANT FOR A BUYER TO UNDERSTAND BOTH THEIR AND THE BUILDER'S OBLIGATIONS IN THE PROCESS.

WHEN IT COMES TO HOUSE HUNTING, BUYING A BRAND NEW HOME OFTEN SEEMS LIKE A MUCH SIMPLER ROUTE TO TAKE. THERE IS NOTHING LIKE MOVING INTO SOMETHING THAT HAS NEVER BEEN LIVED IN BEFORE.
A BUYER DOESN’T HAVE TO REMODEL, REPAIR OR PROPERLY REDO WHAT THE PRIOR OWNERS MAY NOT HAVE DONE CORRECTLY IN THE FIRST PLACE.
HOWEVER, BUYING A NEW HOME DOES NOT MEAN THAT EVERYTHING IS ALWAYS AS IT SHOULD BE.

HERE ARE EIGHT THINGS BUYERS NEED TO WATCH OUT FOR WITH

As I'm sure you know, there are way more than 4 activities that you should or should not do in order to improve your credit, but these 4 in particular seem to trip a lot of clients up and have even been known to ruin the the loan even after an initial approval.

So make sure that you stay on the straight and narrow by taking a quick look at these common credit mistakes!

Call Sam for help !

Sam Parker
My Credit Guy | Co-Founder, CEO
Cell: 319-560-5999
Office: 866-SCORE39 (866-726-7339)
Local: 480-999-2550
Fax: 480-999-5079
Email: sam@mycreditguy.com
www.mycreditguy.com

# properties currently on market                                

  November                                      October             September

       5561                                         5711                    5719                           

# properties that came on the market last month

    November                                    October             September

       4015                                         3986                     4570

# properties that went under contract last month

      November                                October             September

       3668                                         3694                      4079

# properties that closed last month

     November             

Among the many highly experienced agents on the Tonnesen Team, Christine Durno is one of our best !

Warm regards,
Christine Durno
REALTOR®

Find out why people who know me continue to refer their friends and family to me.

Berkshire Hathaway HomeServices Nevada Properties
3185 St Rose Pkwy #100 Henderson, NV 89052

Direct:  702-819-0222
Fax: 702 317 3777

Christine@GreatLasVegasHomes.com
http://www.greatlasvegashomes.com

Ask me about a ‘join.me’ online meeting!

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October 2017 Single Family Residential (SFR) closed sales were up 1.6% from September and up 13.2% compared to October 2016.

Year to date 2017 closed sales are still up 9.8% over 2016.  

The median closed sales price of a SFR dipped to $263,000 while the average closed sales price of an SFR jumped to $313,032 for a modest 1.2% increase.  

Residential resale activity continues to be brisk – leaving us with approximately 1.8 months of inventory.  

Year-to-Date luxury sales closings are on the verge of surpassing both 2013 and 2015 results and are up nearly 42% over last year.

The fallacies and problems of working with only one agent

Key Takeaways

• Many of today’s buyers think that having the listing agent represent them on a transaction will save them money and fail to consider the importance of having their interests represented exclusively.

When buyers have the option of working with a buyer’s agent who will represent their interests exclusively or working with the listing agent who has a fiduciary duty to the seller, an increasing number of buyers are choosing the listing agent, especially in overheated markets.

Recently, I had an interesting conversation about open houses with Kendyl Young, the broker-owner of Diggs.

Young tracks her agents’ open

It's disheartening when a house appraisal comes back lower than the purchase price you and the seller agreed on. Your loan will cover only the appraised value of the home, so having to cover tens of thousands of dollars more than you anticipated could throw a serious wrench in the plan. Here's what to do if the home you made an offer on appraises low.

What does a low house appraisal mean?

A low appraisal represents a problem for buyers who are depending on financing to help them purchase a home. Lenders cannot finance a property for more than the appraised value. So unless you have extra money to fill the gap, a low appraisal could ruin your ability to purchase the home.

So what can you do if the home you want to buy appraises