All Blog Entries by Debbie Drummond

Found 420 blog entries published by Debbie Drummond.

Las Vegas High Rise Market Update - June 2013  Click here to see all current high rise condos and penthouses listed for sale.

As we enter into June, I'm beginning to sound like a broken record as the number of high rise condos listed for sale continues to decline.  We currently have 383 units listed today.  In the month of May, we sold 83 units thru the MLS.  That brings the current inventory down to a 4.5 month supply of units.  The high rise market has lagged behind the Las Vegas traditional housing market in its transition to a seller's market.  With less than a six month supply, the high rise segment has also moved into a seller's market.

We do still find unsold units at Turnberry Towers, Veer, the Mandarin Oriental, Trump and the Martin.

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As our weather hits triple digits the Las Vegas Housing Market Update for June 2013 shows that the housing market is also heating up.  This is typically a busy time of year as families try to time their buying and selling to move while the kids are out of school.

Our MLS currently offers 3145 single family homes for sale.  Condos and townhomes add another 975.  A total of 4122 homes for sale is definitely creating a seller's market.  Click here to search all current listings.

In May, we sold 3455 single family homes, condos and town homes in the Las Vegas/Henderson areas.  That's a slight increase over the monthly average of 3145 homes sold per month over the past twelve months.  Fifty nine per cent or 2036 of those homes were purchased with cash.

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This post was written a year ago when Las Vegas was experiencing a serious shortage of homes for sale.  Today, November 17th, 2014, we have more options for buyers.  The number of homes for sale has climbed to over 10,000 homes listed for sale.  The number of homes sold each month has also declined slightly compared to last year.  

The current market is still slightly under a 4 month supply.  By historical standards, anything less than a 6 month supply favors sellers.  It isn't as competitive as it was a year ago but buyers need to be prepared.  The advice we gave a year ago is still useful if you want to buy a home that is priced to sell.

From 5/22/13

After years of gloom and doom for Las Vegas home owners, Las Vegas is now a seller's

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What’s my Las Vegas home value?

Click Here to get a FREE “Las Vegas Home Value Report” that will compare your home to homes that have recently sold in your specific Las Vegas/Henderson neighborhood.

There are websites that have instant evaluations.  Those are seldom accurate.  One reason they are seldom accurate is they are looking at your home’s value through a rear view mirror.  They see what homes have sold for within a radius and may not understand that the subdivision just a mile away is cookie cutter while your home is in a small enclave of custom homes.  Do they realize that the home they’re using to undervalue your home was a foreclosure that had a pool full of green water?

Does the automatic home value estimate site know that you -

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    Las Vegas Luxury Homes & High Rise Market - May 2013

    As we enter May, the number of high rise condos for sale in Las Vegas continues to decline.  We are down to only 388 units listed in the MLS.  This is just under a six month supply of high rise condos should no additional properties come onto the market.  To see the high rise residences that are currently available, click here.

    Over the past year, number of high rise condos sold per month has averaged 69.  In April our MLS reports 86 "high rise" condos sold.  Closing prices ranged from a low of $90,000 for a 1296 sf 2 bedroom condo in the Marie Antoinette building.  This condo was on the sixth floor and offered 2 beds/1.75 baths.  The building is one of our older high rise properties, built in

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    Las Vegas Housing Market Update - May 2013

    We enter into May with only 3335 single family homes listed for sale in all of Las Vegas, Henderson and North Las Vegas.  We have a total of 964 condos and townhomes in those same areas for sale.  Over the past year we have sold 2813 single family homes and 583 condos/townhomes per month.  With the current low inventory that translates into only enough homes to last another 6 weeks if no new homes came on the market.

    This low inventory is putting upward pressure on prices.  If you have been waiting to sell, click here to contact us.  If you have been waiting to buy, you can start your home search here.

    In April we sold a total of 2961 single family homes and 640 condos and townhomes.  That's actually a

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    Death Valley National Park - Las Vegas is home to lots of great parks and places for exploring the desert.  After ten years of living here, I finally got around to paying Death Valley a visit.  Getting there from Las Vegas is easy.  The quickest route is to head over Hwy 160 through Pahrump.  We were there in only 2 hours.

    As we turned onto the highway that takes you into the park, we were surprised that some of the Mountains were covered with a fair amount of green.  The recent rains seem to have left more vegetation growing than we had expected to find.  Further into the Death Valley National Park, we were surprised at the colors of the Mountains.  Some of them were varying shades of brown.  Some had white streaks.  Others were gold and some had

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     Veer Towers Las Vegas Strip High Rise Condos offer a location that is hard to beat.    

    Veer Towers is between the Cosmopolitan and the Mandarin Oriental.  These towers rise 37 floors above the Strip.  They feature rooftop decks.  The decks are equipped with infinity edge pools, hot tubs and incredible views.  Throw something on the BBQ and invite your friends to hang out. Other amenities include fitness centers, billiards and media center.

    Click here to see some of the condos currently listed for sale.

    Veer Towers Las Vegas Strip High Rise Condos are contemporary in style.  Bosch Stainless Steel Appliances and European style cabinetry are standard.  These condo homes are sold completely finished with appliances and flooring.  Some units are

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    Las Vegas high rise market update for April shows that we are seeing improvements in this sector of the market but we are still finding bargains.  Gone are the days when you could pick up a studio at Trump for $150K or a 2 bedroom for less than $200K at Panorama Towers.  Rather than 3 years of inventory in the high rise market, we are now at six months, which is typically considered a "Balanced Market".

    That doesn't include the unsold units at the Martin, Veer Towers, Mandarin, Trump and Turnberry Towers which are not yet listed in the MLS.  If we added those units into the mix, we would probably have a year's worth of inventory in the high rise sector.  Since the investors who control those buildings are releasing them in phases, it is helping the

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    The Las Vegas housing market update for April 2013, shows that sales continued at a strong pace in March with a total of 3530 closing for the month.  We start April with 4342 properties listed for sale in the MLS.  That translates to just over a month's worth of inventory.  Historically, less than a six month inventory is considered a seller's market.  With just over a month's worth of inventory, it is strongly in favor of sellers.

    A closer look at the various segments of the market shows the single family homes to be in the highest demand.  Only 3018 of the current listings are single family homes.  This includes 393 short sales and 299 foreclosures.  The majority of the current listings, are not distress sales.  Out of the 910 condos and townhomes

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