Las Vegas Real Estate Blog

Buying vs Renting Homes In Las VegasBuying vs Renting Homes In Las Vegas? Traditionally, renting has been the more affordable option compared to buying. But things are changing as rent prices continue to soar. According to recent data released by Zillow, the aggregate amount of rent spent in 2014 by U.S. renters was a whopping $441 billion. Yes, that’s billion, with a B. That staggering total represents a nearly $21 billion dollar increase over last year.

Because renting has been less expensive than buying a house, those with lower incomes and poor credit scores would choose that route. In today’s Las Vegas market, that axiom no longer holds true. For many, buying is simply the more affordable choice compared to renting.

But why? It’s simple economics. When demand outpaces supply,

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I still can’t believe it has been almost eight years since the real estate market meltdown began in 2007. The local Las Vegas real estate market has come a long way since those dark days that affected so many individuals and families.

Buying a home in Las Vegas A few weeks ago I wrote about Las Vegas being named a Top 4 market for first time home buyers. Well, the good news continues, as Las Vegas is primed to be a great market for “bounce back buyers.” What are “bounce back buyers?” These are the folks that lost their homes during the recession, but are now rebuying a home in Las Vegas now that the seven-year time period it takes to typically repair credit has passed.

 Recent analytics released by RealtyTrac disclosed that the Las Vegas real estate market lost more homes to

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For many, the New Year represents a time to reflect on the previous 12 months and to establish new goals. If buying a home in Las Vegas is on your to-do list, 2015 may just be your year. A recent Zillow economic report predicted a breakthrough year for Las Vegas home buyers  - especially first time property owners.

The report cited key economic indicators including income data, home-value appreciation, and inventory, to rank the best markets for 2015. The published report ranked Las Vegas as the number four market for first time home buyers for 2015 – that’s a stark contrast to the previous few years as the market has had its share of turbulence and trouble.

 As a Top Realtor in Las Vegas who utilizes local data to best guide clients into making

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Las Vegas home prices for November, December and January are typically a very sluggish time in the Las Vegas real estate market. Real estate takes a back seat as people shift focus to the holidays to spend time with family and friends. But newly released data by the Greater Las Vegas Association of Realtors shows even the holidays couldn’t keep the market from moving forward.

In their monthly report, the median selling price for a home in the Las Vegas market increased to $204,000, that’s an uptick of 1.0% from November (the average price in November was $202,000). Looking back at this time last year, the $204,000 average selling price has increased 10.3 percent. In addition, the Vegas condominium market saw prices fall 5.8% to an average selling price

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Buy Real Estate in Las VegasAs the Las Vegas real estate market place continues to seek equilibrium, savvy real estate investors and home buyers can take advantage of dips and decreases in prices. As a real estate professional with well over a decade in the Las Vegas real estate market, I’ve always relied on utilizing data to help my clients make smart choices. And during my time working for the Disney Corporation in the Consumer Products Division, I constantly leveraged data to help make smart business choices. I guess you can say statistics is in my DNA.

 Real estate is very local. Trends vary from city to city and region to region. For October, 2014, the median price of single-family homes selling through the Multiple Listing Service dipped 1.3% to $199,900. The previous

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10 Best Kept Secrets to Buying Your Home in Las VegasTo say the Las Vegas real estate market is tricky is an understatement. That’s why it’s critical to rely on the expertise of your Las Vegas Realtor as well as knowing the ins and outs of the market yourself. If you want to find the right home and feel great about the deal, take a look at the 10 best kept secrets to buying your home in Las Vegas.

Secret #10: Become a “Tightwad”

Las Vegas lenders want to make sure you’re not a credit risk before they approve you for a home loan. That means no major purchases at least three to six months before you buy. Buying a new car to match your new house or opening up new lines of credit will make it hard for you to get pre-approved.

Secret #9: Get Pre-Approved (Not the same as Pre-Qualified)

Getting

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