Las Vegas Real Estate Looking up

Yesterday I wrote about Las Vegas having the highest appreciation of home prices in the US.  Well, last night I had the opportunity to list to  Professor of Economics at UNLV Stephen Miller speak.  He took to the stage in front of approximately 200 real estate professionals.  He had all kinds of charts and graphs to discuss where the Las Vegas real estate market has been and where it is headed.  Professor Miller demonstrated several time the "bubble" in the market from 2007 - 2012.  Additionally Professor Miller also showed how the market is recovering and that under no circumstances does it appear that we are entering another bubble.  The bottom line is the housing market crashed so bad, the recovery we are seeing actually appears modest but is expected to continue.  Professor Miller also stated he expects interest rates to remain low for quite some time.

The event I attended was at The M Resort and was sponsored by Chase Bank.  I have to just say, I am very impressed with the mortgage programs Chase offers, particularly for first time home buyers and condo financing which has been an issue here in Las Vegas the past few years.

If you are looking to buy or sell in the Las Vegas or Henderson area, please contact me for a free consultation.

Las Vegas on the Real Estate Rebound

Las Vegas has the fastest rising home prices for both single family and condos in the United States, this from Chief Economist at Trulia, Jed Kolko.  Until recently this spot had been held by Phoenix, AZ but due to a large number of investors coming into the real estate market her in the Las Vegas area, prices are up 26.4% year over year. It has only been 13 months since prices had bottomed out here in Las Vegas during the economic downturn.

Anyone that has been looking for a home recently knows the battle out there when it comes to buying a home.  Multiple offers are still happening everyday, although the higher the price of the home the easier the fight gets.  Homes prices under $150,000 are getting more scarse so expect to put in several offers before you get your accepted.  Prices of homes over $250,000 have less competition but in certain neighborhoods, like some areas of Summerlin, you may have 10 buyers thrying to get the same home.  There simply are not enough homes on the market.  If you are looking to sell, now is the perfect time.View Homes Here