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Las Vegas Real Estate News

Well, it's the first day of 2013, and the beginning of a new year of "statistics" for the national real estate market. I thought I would start this year out by posting an article from one of my Realtor buddies in Myrtle Beach, South Carolina at the Harrelson Group.  We like to confer about changing market conditions nationally on a regular basis to gauge the overall level of consumer activity and confidence in the economic recovery. I asked Greg to write about the condo market in Myrtle Beach to see if there were any similarities with the Las Vegas market since both are considered "resort destinations."

Condos for SaleWe don't need to talk about what happened to the prices of condos that were purchased between 2005 - 2009. What we need to start talking about are the

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The end of 2012 is almost here, and for the Las Vegas real estate market it's been mostly good news - FINALLY! The housing inventory is way down, and prices have risen steadily since the first of the year. A "balanced" market in Vegas should be be about 10,000 homes for sale. But as of today's date, there are only 3,892 single family homes actively on the market.

Here's a breakdown of the current single family homes currently for sale by price range in December vs. July. You will note that the lower end housing under $100k has dwindled significantly by almost 20%, while inventory in the rest of the price ranges has remained almost identical. 

Las Vegas Homes for Sale

Of the homes currently on the market in December, 752 (19.32%) are short sales and only 364 (9.35%) are

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The Tonnesen Team of GreatLasVegasHomes.com would like to take this opportunity to wish everyone a heartfelt "Happy Thanksgiving," and may your homes be blessed with joy. The following is something written by our wonderful Team Manager, Patty Annis, that describes how she feels about this holiday season and being home in Las Vegas.


In the words of Frank Sinatra, “It’s that time of year when the world falls in love!”  And it’s a very special kind of love for me during the Holidays…. a nostalgic kind of feeling that makes me feel warm all over, which can only mean one thing ……. family is visiting from out of town! 

There’s nothing truer than “absence makes the heart grow founder” when it comes to family.  This is probably because I spent most of our

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by Lisa Alberian


When my family decided to move to Las Vegas, we rented a house in a nice neighborhood. Since we didn’t know much about the area, we relied on our real estate agent’s knowledge to help us make decisions in addition to a lot of our own research. We were very fortunate to find a nice rental house in Henderson. 

At first, everything was completely different than what I was used to and nothing felt like home. Every chance I had, I drove around different areas to get a feel for what “living in Las Vegas” could be. You can learn a lot about an area by going into local businesses. It is NOTHING like “The Las Vegas Strip” out here in the suburbs! After a while we finally felt settled in with new careers and that’s when I started thinking…. 

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Just a quick update on the Las Vegas housing market inventory as of October 20th, 2012 - REAL SELLERS ARE BACK!

For the past several months, the available inventory of single family homes in Las Vegas has hovered at right around the 4,000 mark, indicating that the supply is being snapped up as soon as it is listed. But of the 4032 currently active (not under contract) single family home listings in the metro Las Vegas, North Las Vegas and Henderson areas, only 818 are short sales and only 335 are bank owned. This means that 2879 homes, or 71.4%, are "REAL" sellers.

Prices are continuing their upward trend (resale prices have increased more than 12% since January 2012), and new home builders have significantly decreased and/or eliminated credits for

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by Lisa Albarian
 

If you’re a Foodie or if you simply enjoy food, Las Vegas has a lot to offer! If you haven’t experienced the whole Food Truck thing, be sure to check this out: Coming up November 2 – 4 at The Silverton (just south of The Strip) is the Las Vegas Foodie Fest.

If you watched the current season of The Great Food Truck Race, you’ll be surprised to know Nonna’s Kitchenette is on the list of Food Trucks that will be at this food festival (I didn’t see Seoul Sausage on the list).  Many more food trucks will be there along with a Farmer’s Market, Beer Garden, and Tequila Party Tent making this a "Must Go To Event" for me! 

I’ve tried a few food trucks here in Las Vegas and I was not disappointed. They’ve come a LONG way from the “roach

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by Patty Annis

Yes, Las Vegas certainly has a reputation of being pretty wild!  And with the ever popular marketing slogan of “What happens in Vegas - Stays in Vegas” it certainly gives someone much to think about….. What really does go on in this town?  I have lived here since October of 1984 and through these 28 years I’ve witnessed many things that shouldn’t have ever happened here let alone stayed here! 

 Recently one of my own personal experiences was being right smack dab in the middle of a bank robbery.  That’s right - it’s the wild wild West out here in good ‘ole Las Vegas complete with our very own bank robbers.  Interestingly enough they don’t wear bandanas over their faces or even brandish any pistols.

 It was around 3:00pm on a beautiful

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by Jeff Tonnesen

It is the monsoon season here in the Las Vegas Valley and with that comes thunderstorms.  Just look outside and you can see rolling thunderheads throughout the valley dumping their rain in big curtains of water.  

With the heavier rain comes flash flooding.  Flash floods are incredibly dangerous to drivers.  If running water is seen crossing the path of your vehicle do NOT attempt to cross it.  90% of all flash flood deaths occur from vehicles trying to cross rushing water during a flash flood, according to the Las Vegas Metropolitan Police Department Search and Rescue.   

During monsoon season it's important to know which areas in Las Vegas are most vulnerable to flash flooding. Many areas in which flooding is a danger have been

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We wanted to extend public kudos to HSA Home Warranty Company for going way beyond the expected for a Las Vegas home owner!

This week one of our agents, Maxine, who had purchased a warranty for her home, opened her front door to discover that, after a day of 110 degree temperatures, her air conditioning system was completely out. At 6 pm she called her home warranty company, HSA, and by 7 pm an air conditioning tech was at her residence.

The air conditioning tech was not able to fix her A/C on the spot, but the next morning, at 7 am, a local Las Vegas representative from HSA showed up at her home with a portable air conditioning unit and got it hooked up for her. HSA keeps three portable A/C units on hand just for emergencies like this.

At 6 pm that

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It seems like the downward spiral of available housing inventory for the Las Vegas real estate market has finally stabilized, and it even increased slightly during the month of July. The number of actively listed single family homes went from 3785 at the end of June to 3953 at the end of July. (These figures do not reflect properties already under contract and in contingent or pending status.)

The market breakdown at the end of July looked like this:

  • 527 homes priced under $100k - including 161 short sales and 74 foreclosures
  • 1410 homes priced between $100k and $200k - including 418 short sales and 164 foreclosures
  • 796 homes priced between $200k and $300k - including 194 short sales and 77 foreclosures
  • 406 homes priced between $300 and $400k -
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