August 2014

Found 6 blog entries for August 2014.

National headlines have switched from "Foreclosures" and "Short Sales" to "Rising Home Prices".  Las Vegas was one of the hardest hit Time To Invest in Las Vegas Real Estatewith the housing crisis, but even here prices are up.  Rising prices make some investors wonder if they have missed the boat.  Even traditional home buyers wonder if prices will go down. They ask,

Is it still a good time to buy a home?"

National home prices have been rising for over a year. Most experts feel the bottom of the market is behind us.  The lowest median price for a home in Las Vegas was $118K in January 2012.  In July 2014 it reached $200K.  Still below the June 2006 high of $315K. Many home owners have asked if the homes they bought at the peak will ever be worth what they paid.  We experienced a smaller

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An agent in our office recently complained about receiving an offer that was $50K lower than the list price.  His sellers wanted to counter back $50K higher than the list price.  An equally ridiculous move.  The agent wanted to call the buyer's agent and suggest splitting the difference.

Low Ball Offers in Real EstateBuying or Selling a home is an emotional experience.  The seller feels they have put improvements into the home and deserve a fair price.  Presenting lowball offers may not be the best move if you love the home.

What Is a Low Ball Offer in a Real Estate Transaction?

Low ball offers are substantially lower than the list price.  The only time a lowball offer is justified is when you're dealing with a home that is over-priced. As +Bill Gassett points out, there are

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Las Vegas and Henderson Homes For Sale in August

Las Vegas Real Estate NewsWe're seeing more inventory this month.  We currently have 7131 single family homes listed for sale.  There are 1878 condos and town homes plus 509 high rise/vertical condos listed for sale.  This gives buyers a total of 9518 homes available. That's a slight increase over the 9240 listings when we did last month's market analysis.  For buyers to have a more balanced selection, we would still like to see more homes available.

Current listings include 1119 (11.7%) short sales and 417 (4.4%) foreclosures.  Distress sales account for 16.1% of the homes currently listed for sale.  That's a decline of 1.5% compared to last month.  Traditional sales are now the majority of the market with 83.9% of the

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Here are three video tours of  New luxury home developments across Las Vegas to give you a small sampling of what's currently available. Contact us for more information.

New Homes at Horizon's Edge South in Henderson

New contemporary luxurious homes are under construction by D R Horton at Horizon's Edge South in Henderson. Three models are available that offer either 2820, 3020, or 3220 square feet of living space.  All have guest casitas.  All three homes also have open floor plans. Master bedrooms and baths on the second floors with options for freplaces and all three homes have roof decks and the options of  fireplaces, BBQs, TVs etc

 

New Homes at Sterling Ridge

Sterling Ridge is guard-gated luxury community in The Ridges of

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Las Vegas High Rise NewsWe're starting this month with 448 high rise condos in our top buildings available in the MLS.  The number of condos sold in July jumped back up to 50 in the buildings we follow.  Better than the slight dip to 39 we had last month.  At that rate of sales, we still have a nine month supply of high rise condos listed for sale.

Nine of the condos sold in July went for more than $400/sf.  The buildings getting the highest prices included Mandarin Oriental and Veer Towers.  Turnberry Towers, ONE Queensridge, Panorama Towers and Palms Place each had a condo that sold for the $400/sf plus range.  Most expensive prices continue to be found at the Mandarin where three condos sold for more than $600/sf.

In Brief:

The Wall Street Journal has reported that

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If a picture is worth a thousand words, in real estate it can be worth thousands or tens of thousands of dollars.

The internet has changed the way we buy and sell our homes.  We're not tied to a Realtor who has access to listings in a printed book.  There's no need to go searching for those open house signs every week-end.

Today's home search starts at our computer, tablet or cell phone. Websites that allow you to search the MLS will typically allow you to establish some criteria for your search. You can specify how many bedrooms, bathrooms and square feet. You can restrict the search to your price range. Set the criteria and hit search.

Luxury Home MarketingMost buyers scroll through the results. When they see a home that looks good in the photo they will take a

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