September 2014

Found 4 blog entries for September 2014.

How To Sell Your Las Vegas HomeFall is here, football season has started and the holidays are just around the corner.  Every year we find home owners who ask "Should I put off selling my home until the Spring?"   In Las Vegas, there is no reason to hold off until Spring. Out of State buyers often wait until after Summer to come into town. They're returning now. The snowbirds who already have a home here come back after Labor Day. Many of the snowbirds will be looking to move up or downsize.  If you wait until Spring you miss all these opportunities.

Buyers do buy homes in the Fall.  In 2013 we sold 9839 single family homes, condos and town homes between the first day of Fall and New Year's Eve. Those are only the homes that sold through the MLS.  It doesn't include new construction

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Improvements That Help Sell Luxury HomesReports show the luxury home market is heating up.  As noted in the Luxonomist, "U.S. Luxury Homes Are Selling at the Fastest Path in Years". The article focuses on the uber expensive $30 Million plus market.  It credits much of it to investors looking for more security than they find in the stock market.  The over the top luxury homes aren't the only sector of the market that is doing well.  Homes priced between $1 Million and $30 Million are also selling at a fast pace.

The Las Vegas market has sold 210 homes for more than $1 Million this year.  Out of those homes, 68 (32%) were on the market for less than 30 days.  How do you sell a home quick when it's in a price range few can afford?  Two important factors are crucial.  Price it right and make

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Las Vegas Real Estate UpdateWe've entered Fall with more homes listed for sale than we've had in almost 3 years.  Last month we were at 9518 homes for sale.  In September 2013 we had just over 7300 homes for sale.  We currently have 7690 single family homes plus 2471 condos and town homes listed for sale.

That's a total of 10,161 homes available for buyers.  Welcome news since inventory has been limited all year.

Las Vegas Real Estate UpdateThe current listings include 1286 short sales (12.6% of the current listings).  Another 419 are listed as foreclosures (4.1%).  While the inventory is increasing, it is good to see the number of distressed listings continues to decline.  A total of 16.8% of the current listings are either short sales or foreclosures.  That's a slight increase over the 16.1% distressed

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We're starting Fall with 424 high rise condos listed for sale.  We sold 47 condos in our high rise buildings in August.  Down slightly from the 50 we sold in July and from the 51 we sold in August of 2013.  At the current rate of sales, we have a nine month supply of high rise condos for sale.  With more than six months of inventory, it is still something of a buyer's market in the high rise sector.

High Rise Related News In Brief:

Las Vegas High Rise NewsThe SLS held it's grand opening and is getting favorable reviews.  The opening included the typical Vegas touches of fireworks and celebrities.  The Review Journal covered the story.

An arena has been proposed for the vacant lot between the SLS and Turnberry Place/Fontainebleau.  We've heard several proposals for this

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