It's hard to believe Halloween is here. We recently showed a house to a client who was looking for a nice single story. We happened to bump into it and by the time we left we wished we had never seen it. It had the eeriest feeling in it. The cosmetics didn't make sense, it had a stairway that ran into the ceiling, and there was a devil mask in one of the closets. It was very appropriate for this time of the year.
Be safe out there with your loved ones. Maybe we'll see you around!
Trick or Treat!
- Las Vegas real estate agent, Darren Hildreth, Realtor® reporting on Las Vegas real estate.
Las Vegas Housing Market Readjusting Like National Market
See MSNBC articleSeveral of our Las Vegas real estate blogs have mentioned the high levels of housing supply in the Las Vegas market. Prices have slipped over the past couple of months to reflect home seller urgency to move their properties.
The Fed realizes the slow down in the national market and has debated whether or not to adjust the rate which would affect Las Vegas in the same ways it would other markets.
"This year, with mortgage rates rising through midsummer, sales have cooled considerably, with housing expected to trim more than a percentage point from overall growth in the last half of the year.
The debate is whether the slowdown will be enough to push the country into an outright recession. The Federal Reserve, recognizing the weakness in housing, halted a two-year string of interest rate increases in August and left rates unchanged for a third straight meeting on Wednesday.
The Fed, however, gave no indication that it planned to start cutting rates because of the weakness in housing, saying it was still concerned that inflation remained too high."
Las Vegas continues to see a steady flow of buyers. They are different in nature from those of a few years ago. There are fewer investors and more permanent home buyers. The influx of homes has provided a wide range of buying options and many who recognize the possible gains are taking advantage now. Few believe the housing market will remain stagnant for too long. That means that those who move in on great deals now and buy while the market is providing options will reap the benefits when housing makes another run.
- Las Vegas real estate agent, Darren Hildreth, Realtor® reporting on Las Vegas real estate.
Las Vegas Trump Tower Nearly Sold Out
Only a small portion of the 1282 condos are left for sale in Trump International Tower located in Las Vegas after only about a year of sales and marketing. Donald Trump is a well-known brand and people from all over the world recognize the project. It's been reported that only a third of the unit owners are Las Vegas residents and many others are from outside of the United States.Construction crews plan to have the project complete by early on in 2008. It boasts 2 million square feet within its 64 stories.
The Review Journal reports that owners have multiple options when owning, "Buyers have five options when they purchase a unit. They can live in the unit full-time or part-time, rent it out themselves, rent it through Trump hotel operations or use an outside property management company to rent their unit."
The project is located on the northwest corner of the Las Vegas Strip and Fashion Show Lane.
Cheaper Suburban Houses May Cost Las Vegas Workers, Businesses
A study recently done on a national scale revealed that many may be justifying lower home costs while unknowingly paying more in living expenses by choosing suburban homes. Commute costs, grocery costs factors in wrong thinking.
Some Las Vegas home buyers believe that living within the valley is too expensive when it comes to the prices of homes. They shop around for the right real estate deal and then hear about a place like Pahrump or other communities with lower housing costs. They purchase a home and begin commuting to Las Vegas for their work and household needs. What they may have miscalculated is the costs and time associated with the long commute.
Essencially, they end up with higher living expenses and a tighter budget. The solution is to determine your overall costs when deciding on a place to live. Take into account primarily the new costs involved in travel. Investigate the expenses of vehicle wear and tear as well as the added gasoline costs.
In the end, you will have good feel for what you are up against and be able to make a great decision. Happy house hunting!
Some Las Vegas home buyers believe that living within the valley is too expensive when it comes to the prices of homes. They shop around for the right real estate deal and then hear about a place like Pahrump or other communities with lower housing costs. They purchase a home and begin commuting to Las Vegas for their work and household needs. What they may have miscalculated is the costs and time associated with the long commute.
Essencially, they end up with higher living expenses and a tighter budget. The solution is to determine your overall costs when deciding on a place to live. Take into account primarily the new costs involved in travel. Investigate the expenses of vehicle wear and tear as well as the added gasoline costs.
In the end, you will have good feel for what you are up against and be able to make a great decision. Happy house hunting!
US Population Affects the Las Vegas Valley
The U.S. is nearing 300 million residents and a new question is arising: "is bigger always better?" Immigrants and births are outpacing deaths and those leaving the country by a considerable margin. In late November of 1967 there was much to celebrate as the U.S. reached its 200 million mark. America had become a great country. Now, with looming traffic issues and housing concerns people are less excited if not a bit nervous about future growth.How does the growing population in the United States affect Las Vegas? A recent study for those concerned about fuel lines coming into the city suggested that Las Vegas will grow by 50% in the next decade. Assuming the current population is 1.8 million that puts us at 2.7 million in 10 years. 90,000 residents a year or 7,500 per month on average have to enter the valley in order to achieve these estimates.
Well, we all know that the real estate market is slow for those who are selling. In fact, in certain parts of the city the home prices are dropping considerably. HOWEVER, if the valley is to grow by 900,000 people in the next decade this trend won't be around long. In fact, market experts suggest that within 18 months to 2 years a growth rate similar to that of 2003 will reoccur. So, those who are considering a move to the valley will likely be making a great decision. Get in touch with your Las Vegas real estate agent today to learn more about the future market.
- Las Vegas real estate agent, Darren Hildreth, Realtor® reporting on Las Vegas real estate.
Las Vegas New Listings Levels Off - Home Sellers Gleam Hope
For the first time in many weeks new listings for Las Vegas single family, condos, and townhomes actually decreased. The overall trend in the past month or so is flattening out giving some hope to home sellers who are becoming anxious due to the record number of properties for sale. While the outlook may be positive for some not all are as optimistic. The Summer selling season is over and traditionally as the valley enters the fall and winter months there are fewer residents ready to up and move out of the valley. Many put children in school and many don't want to hassel with the cooler weather. The market is still saturated with homes for sale and buyers continue to swoop in and grab great deals.
New home builders continue to give all sorts of incentives to compete with the great number of resale homes. Las Vegas buyer's agents are also directing buyers and investors to new developments because of the incentives agents are receiving.
While recent statistics show an improving trend for sellers it's the buyers who are still driving the market.
Stop Paying Las Vegas Rent - Buy Now
It’s a dream we all have - to own our own Las Vegas home and stop paying Las Vegas rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home.
Don’t Feel Trapped Anymore
It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from Las Vegas renter to Las Vegas homeowner. With this information, you will begin to see how you really can...
Don’t Feel Trapped Anymore
It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from Las Vegas renter to Las Vegas homeowner. With this information, you will begin to see how you really can...
Las Vegas Real Estate Moving Schedule
Relocating to a new town can be exciting. The actual move is usually where the stress is the worst. Once the move is taken care of the rest becomes more enjoyable. Having a plan or outlined schedule is very important to minimizing problems and headaches. We have put together a full-scale moving schedule to help new comers in their transition.View the Las Vegas Moving Schedule.
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