ALL
August 20, 2010
Thanks for dropping for Friday Figures! All information from the GLVAR MLS system. Here’s you and your Realtor need to know before touring, listing, or making a purchase offer in the Las Vegas Valley this weekend.
Summary: Once again available units jumped, this time to 14057. While the number of short sale and non distressed available properties is up, there was no rise in the number of bank owned properties. Contingent and pending listings were down, but remain over 14,000. The number of contingent short sales does continue to decline, but some of those units have returned to the market as available. Median time on market for homes that are closing has finally reached 30 days — half of homes selling are on the market less than a month. This slow rise is partly due to institutional sellers insisting on longer periods before considering offers, or only considering investor offers after 2-4 weeks on the market. Our rental market for houses and condominiums is still healthy and stable despite the fact that apartment rents are at a 6 year low.
Other Information: Nationally, more construction is starting on more properties, but permits for the future are down. I don’t cover commercial real estate, but the Commercial Real Estate Price Index is down (great news for business owners looking for new space). Home buyers need to be aware that the FHA rules are tightening up; please consult your mortgage professional for details. Mortgage applications are up as rates are low. Some experts think the government must slash tax breaks for homeowners (please contact your Congressman and Senators if you feel strongly one way or the other). Remember that buying a short sale or foreclosure adds complications to the buying process (see here and here for more). More good news, mortgage delinquencies are down. Thanks to Steve for pointing out that in the second quarter, we had over 3000 cash transactions, and fewer than 1000 closings with a mortgage (FHA, VA, conventional, and owner financed combined! Yes, there were a handful of owner financed transactions). Cash is King in our market right now. And one last thing, the Hoover Dam Bypass should finish on schedule this fall.
70: One is Good, One is Bad: Las Vegas Hiking, Las Vegas Real Estate Agents
August 29, 2009
[Let’s set the mood. . .it’s a Saturday night. . .the studio lights have been dimmed. . .the red wine is ready and willing. . .what better time to record a Living in Las Vegas Podcast?]
Professionalism? Las Vegas Real Estate “Professionals” calling. We’re a little lost, here. Can you send somebody over?
Okay, this wasn’t meant to be the main topic. . .and it’s not. . .but, for the love of all things reasonable, get it together Las Vegas real estate folks! You’re making those of us who live here look bad!
On a positive note, after ranting about the nasty issues of real estate, this edition of the Living in Las Vegas Podcast talks about three places to hike, two of which I deemed “hiked” even though my definition of hiked and Melissa’s were not completely in line. Show notes:
- PHOTOS! (of the studio, post-show)
- Weather (heat advisory) / LiLV Pool (3 degrees from perfection)
- LiLV Stuff
- Listener Line: 206.312.0105
- Sign up of Email Alerts (form found on right side of our website)
- Las Vegas Chamber of Commerce Business Education Series
- Thoughts on Las Vegas Podcasts
- Mojito Recipe?
- Summerlin Hospital RANT
- Summerlin vs. Aliante
- Real Estate Idiots
- Listener Email: Real Estate Idiots +2, Holiday Festivities
- Listener Audio: Where’s my strings, Mike?!?!
- Hiking in Las Vegas
- Red Rock
- Valley of Fire
- Mt. Charleston
