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Archive for January, 2014

GLVAR, Greater Las Vegas Area of Realtors.. Housing News Updated

Tuesday, January 28th, 2014

For release Jan. 8, 2014

 

GLVAR reports home prices rose in December, up 24 percent in 2013

LAS VEGAS – Southern Nevada home prices ended 2013 on an upswing, with the median price of existing homes up 24 percent from the same time the year before, according to statistics released today by the Greater Las Vegas Association of REALTORS® (GLVAR).

 

GLVAR reported that the median price of an existing single-family home sold in Southern Nevada during December 2013 was $185,000, up 1.1 percent from $183,000 in November and up 24.2 percent from December 2012, when the median price was $149,000. Meanwhile, the median price of existing condominiums and townhomes sold in December was $96,000, down 3.0 percent from $99,000 in November, but up 26.3 percent from $76,000 one year ago.

 

GLVAR President Heidi Kasama, a longtime local REALTOR® who succeeded 2013 President Dave Tina starting Jan. 1, said local home prices have been increasing for the past two years, though they have stabilized in recent months. She noted that GLVAR tracked a similar year-over-year increase in local home prices during 2012, when the median price of existing homes sold in Southern Nevada also increased by 24 percent from the start to the end of 2012.

 

“Local homeowners should be happy with the strong appreciation we’ve seen over the past two years,” Kasama said. “We haven’t seen increases like this since the middle part of the last decade. Like most housing experts, I expect to see more stable home prices in 2014.”

 

Putting these recently rising home prices into perspective, she said existing local home prices bottomed out at a median price of $118,000 in January 2012 before appreciating for a record 19 straight months until September 2013. Local home prices are still well below their June 2006 peak of $315,000.

 

Kasama said 2013 was also a year of transition from distressed to more traditional sales, where lenders are not controlling the transaction. GLVAR has been tracking fewer foreclosures and short sales – which occur when a lender agrees to sell a home for less than what the borrower owes on the mortgage. In December, 20.7 percent of all existing local home sales were short sales, down from 21 percent in November. Another 8.5 percent of all December sales were bank-owned properties, up from 7 percent in November.

 

Of the 40,242 existing residential properties sold in Southern Nevada during 2013, GLVAR reported that 62 percent were traditional sales. That’s a big jump from 2012, when only 37 percent of all 44,902 sales that year were traditional.

 

Kasama said REALTORS® are pushing Congress to extend for at least another year the federal Mortgage Forgiveness Debt Relief Act that expired Dec. 31, 2013. Unless Congress votes to extend this act retroactively to the end of 2013, as some members of Nevada’s congressional delegation are proposing, any amount of money a bank writes off in agreeing to sell a home as part of a short sale starting in 2014 may become taxable when sellers file their income taxes. Without this tax relief, Kasama expects far fewer short sales this year.

 

GLVAR said the total number of existing local homes, condominiums and townhomes sold in December was 2,915, up from 2,694 in November, but down from 3,624 in December 2012.

 

Like November, GLVAR reported fewer homes listed for sale in December. The total number of properties listed for sale on GLVAR’s Multiple Listing Service decreased in December, with 13,303 single-family homes listed for sale at the end of the month. That’s down 6.6 percent from 14,240 single-family homes listed for sale at the end of November and down 8.9 percent from one year ago. GLVAR reported a total of 2,903 condos and townhomes listed for sale on its MLS in December, down 19.9 percent from 3,624 listed in November and down 16.5 percent from one year ago.

 

GLVAR also reported fewer available homes listed for sale without any sort of pending or contingent offer. By the end of December, GLVAR reported 6,587 single-family homes listed without any sort of offer. That’s down 3.6 percent from 6,830 such homes listed in November, but still up 78.6 percent from one year ago. For condos and townhomes, the 1,664 properties listed without offers in December represented a 24.1 percent decrease from 2,192 such properties listed in November, but a 33.0 percent increase from one year ago.

 

In December, GLVAR reported that 44.4 percent of all existing local homes sold were purchased with cash. That’s up from 43.7 in November but down from a peak of 59.5 percent set in February 2013.

 

The median price of bank-owned homes sold in December was $159,900, up from $152,500 in November. The median price of homes sold as part of a short sale in December was $165,000, up from $158,500 in November.

 

These GLVAR statistics include activity through the end of December 2013. GLVAR distributes such statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners. Other highlights include:

 

  • The monthly value of local real estate transactions tracked through the MLS during December increased by 10.7 percent for homes to more than $550 million. For condos and townhomes, the total value of all December sales was more than $71 million, up 1 percent from November. Compared to one year ago, total sales volumes in December were up 1.6 percent for homes and up 3.1 percent for condos and townhomes.

 

  • In December, 69.1 percent of all existing local homes and 63.0 percent of all condos and townhomes sold within 60 days. That compares to November, when 73.5 percent of all existing local homes and 67.2 percent of all condos and townhomes sold within 60 days.

 

Unbelievable!! Las Vegas Housing Market

Thursday, January 23rd, 2014

http://m.reviewjournal.com/news/highly-regarded-las-vegas-properties-go-unremarkable-prices-auction

Summerlin, Las Vegas Home for Rent. Pictures included.

Friday, January 17th, 2014
Wonderful Rental in the Heart of Summerlin, Las Vegas, NV

Wonderful Rental in the Heart of Summerlin, Las Vegas, NV

summelrin mapLUXURY LIVING IN THIS TROPICALLY LANDSCAPED SPANISH VILLA IN A GUARD GATED NEIGHBORHOODWITH OVER 4000SQ FT OF LIVING W/HEATED POOL AND HOT TUBAND GROTTO, BALCONIES AND HIGH CEILINGS. AWESOME FRONT COURTYARD WITH WATER FOUNTAIN, OPEN KITCHEN AND FAMILY ROOM, WOOD FLOORS, BUILT IN OFFICE, 4 CAR GARAGE, WAY TOO MANY FEATURES TO MENTION!!!

 

Estimated 15938 Properties for sale in Las Vegas and other parts of Southern Nevada. Condos, Manufactured homes, Single Family Homes and Condos

Tuesday, January 14th, 2014

Per Nevada MLS as of right now there are just under 16,000 estimated properties listed, If you’re in the market to buy, sell or rent a property feel free to give me a call and we can discuss Real Estate.   Summerlin, Henderson, Green Valley, SW, NW all over the valley Realtor.  Have a great day. Penny

Is April the best month to sell your home? To Buy? Friday is the best day to list your place. Las Vegas NAR American family home facts.

Monday, January 13th, 2014

1. Home is where the heart (and equity) is: 61.4% of the average American family’s net worth is in home equity.

2. A homeowner’s net worth is over thirty times greater than that of a renter.

3. TGIF! The best day of the week to list your home is Friday.

4. Historically, the best month of the year to sell is April. –maybe it’s the most common month, but often sellers fare better in the ‘off months’ of summer and winter.

5. Odds are you’re going to need some help selling: Homeowners have a 120% better chance of selling their home when using REALTOR®.

6. In 2013, NAR reports that the median age of first-time buyers was 31. On average these buyers purchased a 1,670 square-foot home costing $170,000 or so.

7. The typical repeat buyer was 52 years old. On average these buyers purchased a 2,060-square foot home costing $240,000.

8. According to a NAR Community Preference Survey, 78% of respondents said that the neighborhood is more important to them than the size of the home.

9. 57% said they’d give up a home with a larger yard if they could have a shorter commute.

10. NAR reports that 80% of home buyers believe their home is a good investment, 44 percent saying it’s better than stocks.

11. Buyers searched a median of 12 weeks and visited 10 homes, (My Clients see many more homes than the typical buyer)

12. 90% of home buyers who used the Internet to search for a home purchased through a real estate agent.

13. 90% of buyers financed their purchase.

14. In Scotland, homeowners paint their front door red when they pay off their mortgage.

15. Maybe don’t change your brass to brushed nickel! Brass doorknobs disinfect themselves. It’s called the oligodynamic effect: the ions in the metal have a toxic effect on spores, fungi, viruses, and other germs.

Percentages are estimated. Have a great day everyone. Penny

Summerlin, Las Vegas, NV Custom Home for Sale Listed just under a Million.

Monday, January 13th, 2014

NICELY APPOINTED SEMI CUSTOM HOME WITH COURTYARD ENTRY WITH FIREPLACE AND WATER FOUNTAIN, WOOD PANELED OFC, GUEST QUARTERS DOWN, DUEL STAIR CASES, GOURMET KITCHEN, MASTER BED W/VERANDAH, CROWN MOLDING, POOL & SPA WITH WATER FALL AND BI WATER STOOLS FOR ENTERTAINING, JUNGLE GYM, BI BBQ, SHUFFLE BOARD, SMART BOX WIRED, GRANITE COUNTER TOPS,ALL APPLIANCES STAY…BEAUTIFUL HOME IN THE HEART OF SUMMERLIN

http://instatour.propertypanorama.com/instaview/las/1408695

 

Penny O’Brien Call me for a showing, 702.321.9383

MLX AREA MAP. Greater Las Vegas Association of Realtors. FREE MAP

Sunday, January 12th, 2014

mlx

Click on the link above for the MLX Map.  Which part of the valley do you want to live in?  Call me and let’s talk about Real Estate.  Have a great day and times ahead.

Penny O’Brien 702.321.9383

HOUSE FOR RENT in LAS VEGAS, NV Pictures included. FREE SERVICE.

Sunday, January 12th, 2014

OH MY GOSH! NEW CARPET, NEW TILE, GRANITE COUNTER TOPS IN THE KITCHEN, ALL APPLIANCES, THIS PROPERTY IS IN MOVE IN CONDITION AND WON’T LAST…ITS BEAUTIFUL!!!!!

Call Me @ 702.321.9383

house

 

 

Why Chose me? Penny O’Brien, Realtor in Las Vegas. How can I help?

Thursday, January 9th, 2014

Hi there,

The best way for you to get to know me and how I operate as a Realtor is to speak to my clients.  I have the happiest clients in Las Vegas and they make me happy to be a part of their Real Estate world.  I love helping them.  Feel free to call me any time and we can talk Real Estate.  I look forward to hearing from you.

I sell in all Parts of Las Vegas, Henderson, North Las Vegas, Summerlin, the Southwest, Northwest, Spring Valley.

I have over 14 years of full-time experience selling here in the  Las Vegas Valley and Henderson areas.

HOW CAN I HELP?

 

Call anytime, Penny @ 702.321.9383

HENDERSON AND GREEN VALLEY, NV~~~ RENTAL PER ESTIMATED MLS INFORMATION

Thursday, January 9th, 2014

Hi there,
Currently there is an estimated 1024 properties for rent per the  MLS in Green Valley and Henderson.

I can help you find the perfect rental if you’d like. Just call me at 702.321.9383, oh, did I mention, it’s a Free service to you.

Penny O'Brien
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent


Cell:  702.321.9383
Email: lasvegasniceliving@yahoo.com

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