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Monday August 20th, 2018 First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.
The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a great way to build family wealth
As we’ve said before, simply put, homeownership is a form of
This got to be one of our very own special blog posts!
We have a celebrity in the midst of our own very own superstar agents....introducing Vito Las Vegas! :D
Vito Las Vegas aka Vito LaMorte will be working at this Wonderful Dinner Show as Mr. Nunzio, Father of the Groom, Tony!
You can catch him every Tuesday night inside Bally's Las Vegas Hotel & Casino. Not only can Vito sell real estate, he can dance, sing and entertain dinner guests too! Berkshire Hathaway HomeServices Nevada Properties, The Tonnesen Team is very proud of his accomplishment both in real estate and his acting career. We look forward to watching Vito in action one day. If you like to visit Vito or see him in action be sure to click here and check him out!
You might have noticed some unfamiliar faces around town recently.
Clark County welcomed 46,375 new residents — an average of 127 per day — between July 1, 2015, and July 1, 2016, according to annual population estimates released Thursday by the U.S. Census Bureau.
Only Maricopa County, Arizona, and Harris County, Texas, saw a higher number of new arrivals over the same period. The county that includes Phoenix grew by 81,360 residents, while the county that takes in most of the Houston area grew by 56,587 residents, the Census Bureau said.
As of July 1, Clark County was home to just under 2.16 million people, a 2.2 percent increase over the previous 12-month period.
According to the Census Bureau, Nevada’s most-populous county saw 27,352
The Nevada Partners & Culinary and Bartenders Housing Partnership has placed over 560 union families into homeownership since it was created in 2008 and provided approximately $4,000,000 in down payment assistance and closing costs.
Key Elements of the Program Include:
1. The down payment assistance loan up to $20,000 has a 0% interest rate.
2. You do NOT have to pay back the loan until you sell, transfer or refinance.
3. You must live in the house you buy (no second homes or vacation homes).
4. You must NOT have owned a home within the past three years.
5. You must contribute up to 3% of the purchase price.
6. Your combined household income can't be greater than $76,680 for a 1-2 household.
Retirees have been a player in the local economy for decades, but the breed of retiree has shifted over the course of the years. Sure, there’s always that snowbird looking to avoid harsh winters, but California has now overtaken the conversation as the largest feeder market for the Silver State. Simple real estate economics are driving this trend.
“I had a client from Newport Beach who said a beautiful $750,000 home here would be $2.2 million in Newport, and it wouldn’t even be on the water front,” said Ray Glasser, a real estate agent with Summit Properties who specializes in working with retirees.
With the influx of California retirees and others, homebuilders are taking note. With three age-qualified communities currently selling new units and a
But some markets have yet to fully recover from the crisis
The U.S. housing market has gained back all $9 trillion in value lost during the 2007 recession, according to a recent Zillow report. Furthermore, the average U.S. home is now worth $55,200 more than it was at the bottom of the housing bust.
Zillow says West Coast markets have fared the best since 2007, thanks to robust job growth and low inventory that has pushed home values up. On the other hand, The Sand States (California, Florida, Arizona and Nevada), excluding California, have yet to fully recover from the disproportionate impact the housing bust had on them.
The median home in San Jose and Las Vegas dropped $190,000 in value during the recession, but today, homes in Las
There are so many home insurance companies out there that choosing the right one can be a challenge for most people. That’s because most of them offer almost the same services, but differ on details such as prices and the level of coverage. To help you out, here are 5 tips to choosing the right home insurance.
Understand what the policy will cover
This may sound surprising but most people have no idea what their home insurance covers. For you to choose the right home insurance, you need to understand what is usually covered. That’s because when you understand this, you will be in a position to negotiate for better terms, as well as get a separate insurance for the things that are not covered. Besides, with a good understanding