Las Vegas Real Estate NOW

Inventory today would reflect that it is a sellers’ market, prices are going up but not drastically. And while the median prices are going up that is mainly a function of the product mix. In other words, there is a lot of more expensive homes that are selling right now than homes that are at the bottom of the ladder. Considering that it is a challenge for buyers right now, but buyers are still get...

We have been tracking single family homes every week since March 2020. Now we are going to share with you, now this week we have currently available 5,241 homes on the market, that is up 15 from last week. In escrow the past seven days we put 883 homes in escrow, we closed 625 single family homes. 171 homes were withdrawn from the market, but that number has not really changed this whole time sinc...

One of the main reasons to buy in Las Vegas right now (August 2020) is because the cost of buying is so good right now. Interest rates are at an all time low. Harvey explains in this video about this article he read from Fidelity that reviews this formula; if you take your annual rent, divide it by the price of a home purchase, if that number is less than 20, then you should buy. If the number is...

The number of single-family homes on the market consistently continues to go down over the last 2 months. Homes in escrow have increased from 876 last week to 841 this week. The number of sold has increased by 50 from last week. The Median Sold price per SqFt did not change much from last week. Median Days on Market keeps creeping up. That means there is a lot of homes that have been overpriced an...

Inventory continues to shrink this week we went down 5,193 single family homes available on the market. We put another 876 homes in escrow and that went up by 23 from the prior week. We closed on escrow 695 that is up by 38 homes and 150 homes were withdrawn from the MLS and it is down from last week. That is a small number nothing unusual anywhere from two hundred is pretty much normal at any giv...

A new median price for the month of June for Southern Nevada that is the surprise for today’s show! This past week we currently have available 5,326 homes on the market. Now this is only single-family homes, in escrow we have 813 that is a good number to see. For closing we have 456 homes it went down significantly from the week before which was at 844 homes that have sold. Withdrawn we have 161 a...

They stop manufacturing R-22 units back in 2010 and no longer allowed to manufacture or reproduce it. But you can still use it for HVAC units there is a lot of misinformation going around the industry that if you have an older unit that has that R-22 you need to get it replaced as soon as possible. You can actually use R-22 in a unit for the next 10 years. So there is really no rush, EPA said that...

Is right now a good time to buy or sell? We have the expert Harvey Blankfeld joining Las Vegas NOW. Harvey has not really seen any slow down in the in the market but there is less activity than usual, but prices have held and the prices are not making any major slip or increase. It’s been pretty steady; inventory have been steady dropping as well in the last 6 to 8 weeks. We are seeing good activi...

Let’s talk about what will be happen in the next couple of weeks or months in terms of mortgages as people are coming out of this pandemic. We think it is important for our consumers what would be doable and what would not. If you were furloughed and unable to go to work and do your job, whether you were paid or not or unemployment those things are not relevant. You are giving the title of being f...

Currently available we have 5,771 single family homes and last week we had 6,056 we went down by 285 homes. We put 941 homes in escrow in the past seven days, we closed 497 in the last seven days. There are 188 homes withdrawn from the MLS and that is a fairly number to have for withdraws. The median days on the market are 39 days and have been the same as the last week. Stay tuned to hear more! T...

This week we have currently have available 6,241 homes on the market which is down a 101 from last week. In escrow we have 740 nice number to have right now and this is only from a week, up by 30 from the last week. Closing we have 498 almost 500 closings this week, just a heads up this is only single-family homes it went up significantly from last weeks numbers. The withdrawals are up by a little...

In escrow we have 711 single family homes in escrow this week, it went up by 38 from the week before. 362 homes closed this week and went down by 26 from last week. 157 homes were withdrawn from the market and it went down by 14 from the week before that but that is good thing, we are starting to see the market become more normal. Median sold price is at $315,023 it went up by $158, and the median...

Let’s see this week and last week stats now this is only single-family homes, for this week we have currently available 6,437. Last week we had 6,416 we have gone up only by 21 just a heads up these charts are only a 7-day difference. In the last 7 days we have put 673 single family homes in escrow and that is a really good number. Last week it was 603 which is still a good number, but it went up...

We are still selling homes, sellers can sell, and buyers can buy Realtors are using special protocol making sure that everyone is safe, making people wear mask when showing a property. Realtors are making sure sellers prepare the home by turning on all the lights and opening all interior doors before the buyer gets to the home, so no one has to touch anything. We have a chart that shows the activi...

Here are a couple of things to take into concertation that has become reality, there has been some conversations about the negative consequences about forbearance. Strictly in the law states banks are not allowed to report you late if you have ask or obtain a forbearance on your mortgage and delay those payments is true. But what is getting hid underneath the surface is that they are noting in you...

Homeowners are wondering on what is going on with home mortgages. Right now, mortgage rates are really good it also depending on how much money you are willing to put down, credit scores and etcetera. Because of the Corona virus situation, the mortgage market with the GFC (government sponsored entities) like Freddy Mac, Ginnie Mae these are the mortgage securities and they buy up loans to help kee...

Let’s talk about the market conditions for week, now this is only single family homes and we currently have 6,360 homes available we are going based off of past seven days 505 went into escrow that went up by 47 from the prior week and we have closed 369 homes and our closing are down by 41, and 130 homes have been withdrawn from the market that is down from last week. The median sold price was $3...

Now this is only single family homes and this data is from the prior week, we have 6,405 single family homes on the market. That is 70 more from the week before, interestingly we had 458 homes in escrow that is huge jump from last week and went up by 144. We closed 410 homes it went up by 47 homes, the withdrawn are up too there is 154 homes that were withdrawn and went up by 88. Stay tuned to hea...

Where did behavior economics come from first, so about 10 years ago economist put up this great model out there and said that the stock market is going to go up because we are having wonderful earnings and the market is going to go down because we have an event like COVID-19 nothing is working because people are not going to work. That explains a lot of the market but that does not explain where t...

Let’s talk about mortgages, Harvey’s clients are calling him asking questions on what is going on with rates? Right now, we are at a good place with interest rates they are very attractive, and we are at a very low level and far lower than what we were a year ago in interest rates. It is interesting on what the federal reserve is doing they are really supporting the bond market for mortgages and o...

First is that your tax return are not due on April 15th, 2020, your tax return will now be July 15th 2020 and if you do not have it done by July you can put an extension until October 15th, 2020. To go along with that if you are required to make the estimated tax payments this will be a little confusing, your first estimated tax payment is due July 15th and your second estimated tax payment is due...

When you look at real estate data on a weekly basis there could be serious anomalies and we don’t want to overreact to any data but I want you to give you guys an idea of what is the market is doing. This is single family homes data and the number of available homes this week we have 5,655, in escrow we have 448 and we sold 567 in the last week, 204 properties that were withdrawn. The median sold...

There is a statue that is called “deed upon death” it was made around 2011 and the reason why it brought up today is because we continue to see orders at Equity Title that opened up which title was acquired by one of these deed upon death. The way it works it that the signer of the dead upon death signs and records a deed naming whoever they want to as grantees often times their children and it do...

Stock market is going nuts and people are panicking due to the Corona virus but what is the impact on the mortgage industry? Things are moving super-fast and violently, that is not a good sign for interest rates and here is why lenders get interest rates that are set for the morning and they last about two days and it rechanges slightly on a daily basis. In the last couple of days there has been m...

Currently we have 4,569 single family homes available, we have 4,547 under contract or in escrow and in the last 30 days we have sold 2,753 and that leaves us with the months of inventory of an absorption rate of 1.69. We have less than two months’ worth of inventory currently available to buyers right now that is very low. Our average days on the market are 48-day, last month we the numbers are b...