Las Vegas Real Estate

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

Found 191 blog entries about Las Vegas Real Estate.

networth of homeowners

 

 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

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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

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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.

7. For a household with 3 or more

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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

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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

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Click below to see the individual report:

Condo Report

Hi-Rise Report

Inventory Report

Investor Report

Loan Ratio

Mortgage Report

NOD Daily Report

NOS Daily Report

PID Graphs

SFR Activity

SFR Activity: $0-399k

SFR Activity: $400k-749k

SFR Activity: $750k+

SFR Appreciation

SFR Appreciation: $0-399k

SFR Appreciation: $400k-749k

SFR Appreciation: $750k+

Subdivision Turnover

Townhome Report
  

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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.

 

  1. 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

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December existing-home sales dipped 3.6 percent month-over-month, but the year was still the best since 2006

Existing-home sales decreased 3.6 percent to a seasonally adjusted annual rate (SAAR) of 5.57 million in December — dipping from a downwardly revised 5.78 in November, the National Association of Realtors (NAR) reported today.


This month’s sales pace is 1.1 percent above December 2016 and is the strongest sales pace in 11 years.

A healthy economy drove buyer demand in 2017

The median existing-home price for all housing types in rose 5.8 percent to $246,800, making December the 70th month in a row to see year-over-year gains.

Total housing inventory fell 11.4 percentage points month-over-month to 1.48 million homes

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The final quarter of 2017 was full of market-moving headlines, including a rise in the short-term Fed Funds Rate, which is the rate at which banks lend to one another overnight, along with the passage of the Tax Cuts and Jobs Act.

The tax bill energized markets, pushing U.S. Stocks to record highs. The rally was further bolstered by a solid economy and a strong labor market.

Historically, when Stock prices improve, Bond prices and the home loan rates tied to a type of Bond known as Mortgage Backed Securities often worsen. Despite the recent Stock-friendly news, home loan rates remained just above all-time lows. 

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