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Las Vegas Real Estate News from GreatLasVegasHomes and the Tonnesen Team at Berkshire Hathaway

October 2017 Single Family Residential (SFR) closed sales were down 12.8% from October and down 4.6% compared to November 2016.

Year to date 2017 closed sales are still up nearly 9% over 2016.

The median closed sales price of a SFR dipped to $261,400 while the average closed sales price of an SFR dropped to $312,465 which is virtually flat.

Residential resale activity cooled only slightly – leaving us with approximately 1.9 months of inventory.

Year-to-Date luxury sales closings are have surpassed both 2013 and 2015 sales. 

 

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If you're looking to purchase a property in a neighborhood, community or building with shared common areas (like a pool, clubhouse, parking garage, etc.) or even a security gate, it's likely the community or neighborhood is maintained by a homeowners association, also known as a HOA. When you move into a community maintained by a HOA, you are obligated to join the association and are responsible for any monthly, annual, or special HOA fees that come along with the association. But what is a homeowners association, and what can a HOA do for your community?


The Basics

The primary purpose of a homeowners association is to manage a neighborhood's common areas such as roads, parks and pools. The HOA ensures the community looks its best and functions

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If you’re thinking of buying or selling a home in 2018, you should know what to expect the housing markets will look like next spring.

Not long ago, before the housing boom and bust, forecasting housing markets was a relatively easy matter for most economists. Real estate prices were a matter of supply and demand. As supplies increase, prices decline. As demand increases, prices rise. Mortgage interest rates, income levels and demographic factors all impact housing demand, and economists can forecast it.

House For Sale

Lately, that formula hasn’t worked very well. The healthier economy is providing better incomes, and millennials are ready to buy their first homes. Mortgage rates remain relatively low, so demand should be high, and therefore prices will

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National inventory levels predicted to see positive growth; Las Vegas to lead the U.S. in sales and price growth

Big Shifts in the Housing Market Expected in 2018

 

Inventory constraints that have fueled a sharp rise in home prices and made it difficult for buyers to gain a foothold in the market will begin to ease next year as part of broad and continued market improvements, according to the realtor.com®2018 National Housing Forecast released today by the online real estate information and services destination.

The easing of the inventory shortage, which is expected to result in more manageable increases in home prices and a modest acceleration of home sales, is based on an inventory growth trend that began in August 2017, according to realtor.com®. The annual

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Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

Here are seven great reasons not to wait:

1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.

2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.

3. You can restrict the showings on your home to the times you want it shown. You will remain in control.

4. Homes show better when decorated for the holidays.

5. There is less competition for you as a seller

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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

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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

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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

 

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# 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             

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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

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