Posts Tagged ‘prices’
Wednesday, August 2nd, 2017
That’s the first thing I hear when I engage in a conversation about prices of Real Estate here in Las Vegas, Henderson, Summerlin, SW, NW the entire Valley. You mean to tell me I can buy what I want for under $300k?
Las Vegas home prices are rising as I am submitting this blog. It’s just the honest truth. Current homeowners are so happy prices are going up, buyers not so much.
There are thousands of new homes being built here, while Re-sale homes are sparse. There just isn’t enough homes for all the buyers.
With NV not having State Taxes people can actually afford more for a home. I know when I lived in Iowa I paid a lot in State Taxes and Property taxes.
Las Vegas has a very low property tax charge.
Call me NOW so we can go over all your Real Estate needs. Enjoy your day/evening. Penny O’Brien 702.321.9383
Wednesday, February 15th, 2017
Southern Nevada home prices started 2017 with a somewhat rare and exciting. The January jump while the number of homes available for sale continued to shrink the market is strong.
According to GLVAR, the median price of existing single-family homes sold during January through its Multiple Listing Service (MLS) increased to $238,000. That was up 1.3 percent from December and up 8.7 percent from $219,000 in January 2016. Meanwhile, the median price of local condos and townhomes sold in January was $113,500, up slightly from December, but down 5.4 percent from January 2016.
This is great for homeowners because they actually are gaining equity in their homes.
The median single-family home price in Southern Nevada two years ago at this time was $200,000. One year ago, it was $219,000, “and now it’s up to $238,000. That’s a pretty great increase. .
Las Vegas home sales have also been on the rise. There are many reasons for home sales increasing, including an improving Las Vegas economy, and of course many of you know that home prices that are still lower than in most parts of California and a local population that is growing by about 2 percent per year.
Call, text or email me, GowithPenny@yahoo.com
Friday, April 15th, 2016
Hi Everyone, Happy Friday from Sunny, Windy Las Vegas:
Words: The Central Banker’s Conundrum April 8, 2016 — Mortgage rates declined a bit this week,
April 8, 2016 — Mortgage rates declined a bit this week, as investors refocused on global economic troubles and the words and deeds of central bankers around the globe.
Although modest U.S. economic expansion continues, doubts remain that it is durable enough to continue in the face of considerable worldwide headwinds, or strong enough so as to be an engine to help lift the world from its malaise. Certainly, many central banks are employing novel approaches to try to spark growth in their economies, but so far the only success story to be seen is here.
Much as it might like to, the Fed cannot lift interest rates as desired, at least not without causing the kind of market-disrupting outward ripples we endured in the aftermath of the Fed’s small move to the Federal Funds rate back in December. That move — and plans for as many as four more this year — so unsettled markets that the Fed was forced to back down its expectations for lifting rates in 2016 from four moves to two.
As they usually do after tumultuous periods, markets settled, and now, with Fed policy de-tuned, there aren’t any immediate rate changes for which to plan or hedge. The Fed is watching the data for clues, the market is watching the Fed for clues, with both reacting accordingly when they come. At the moment, the Fed is “talking down” expectations for growth and rates by highlighting the risks and challenges the economy faces. This has helped mortgage rates to fall, but presents a bit of a quandary for the Fed’s messaging to markets.
HSH.com’s broad-market mortgage tracker — our weekly Fixed-Rate Mortgage Indicator (FRMI) — found the overall average rate for 30-year fixed-rate mortgages eased by eleven basis points (.11%), slipping to an average 3.67%, its lowest value since May 2013. The FRMI’s 15-year companion found a little less space to fall, with this week’s average trimming nine basis points to an average rate of 3.07%. Rates on fully-insured FHA-backed 30-year FRMs remain considerably below their Fannie and Freddie counterparts but declined far less than they did, falling by just four basis points to land at an average interest rate of 3.55%. Meanwhile, the overall 5/1 Hybrid ARM continued tracked the FRMI completely, sliding by eleven one-hundredths of one% to land at 2.90 percent for the week.
The median price for condos was also up for the 47th month in a row.
with home sales have been higher than the year before ten of the last twelve months.
The housing market continues to be on the side of sellers.
The median price for single-family, re-sale homes in the Greater Las Vegas area rose, year-over-year, for the 47th month in a row in March.
I will say once again, INVENTORY is very low. If you are ready to move please give me a buzz so we can go over your Real Estate needs. I am here to help. Thank you for your time. Penny
Thursday, April 18th, 2013
Heads up buyers and sellers: Most all homes that are listed will go above list price and almost half of them will be cash offers. Home prices are rising slowly but surely. Some offers, a high percentage will be in a situation of a multiple offer situation. Las Vegas is in need of more properties for sale. If you know of anyone interested in selling you should advise them to give me a call to discuss their needs. Many sellers may not be aware that their property prices have risen beyond what they think they could sell for.
10120 S. Eastern Ave 200, Henderson, NV 89052
Wednesday, April 17th, 2013
The Las Vegas, Summerlin, Henderson and Surrounding Las Vegas Area Housing Market is reaching an all time low for it’s Inventory. Listings are a must right now. The ratio of buyers to sellers is extremely lop sided. Sellers who were once underwater on their homes are now finding that their values have rose and they can actually sell their homes with out having to short sale. It’s wonderful. For example: I went on a listing presentation in February and the fair market value as about $100K. The sellers owe $121K so they couldn’t sell unless they tired to short sale it. So, we waited a couple months. I just marketed their home for $140k and have several offers on the table. See what a few months can do? Our prices are rising very quickly.
10120 S. Eastern Ave. 200
Henderson, NV 89052
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent
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