If You’ve Been Trying To Buy A Home In The Las Vegas Area This Is Probably A Question You’re Asking.

For numerous reasons the Las Vegas area housing inventory is VERY LOW.  How low is very low, well:

Here is an update on what’s going on RIGHT NOW in the Las Vegas area real estate market. Right now as I write this there are 4,393 available homes in the MLS in the whole Las Vegas Valley. The available homes breakdown like this: 472 REO’s (foreclosures), 1,126 Short Sales, and 2,795 “Traditional Sellers”- meaning sellers that are not in an REO or short sale situation.

 You might be thinking  “Hey Joe, That’s still alot of homes” I’m here to tell you it’s not when you consider that last year there were over 13,000 homes on the market. And the fact that in the last 30 days over 3,500 homes sold, in line with the approximately 3,200 – 4,000 that have been closing month after month after month.

Call me at 702-245-7227 if you’re looking to move in the Las Vegas area within the next 3 months and you want to know what it’s going to take to get you into a property.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Get The Truth About The Las Vegas Real Estate Market And Learn The One Thing You Should Do RIGHT NOW If You Want To Make A Move Within The Next 6 Months

Okay, Here is an update on what’s going on RIGHT NOW in the Las Vegas area real estate market. Right now as I write this there are 5,397 available homes in the MLS in the whole Las Vegas Valley. This is Down from over 13,000 last summer and down from 7,314 just 5 short weeks ago! The available homes breakdown like this: 764 REO’s (foreclosures), 1,724Short Sales, and 2,909 “Traditional Sellers”- meaning sellers that are not in an REO or short sale situation.

 Did you catch that? There are almost 500 more Traditional Sellers on the market than the number of  Short Sales AND REO’s Combined! Compare this to last year when the Short Sales and REO’s made up about 75% of the available homes.

Let’s dig a little deeper.

In the last 30 days over 3,928 homes sold, in line with the approximately 3,500 – 4,000 that have been closing month after month, and get this: The average price per sqft. is increasing at $1 to $2 per month. Do the math, that 2,000 sqft. home you want to buy will cost you $2,000 – $4,000 MORE next month than today if the market stays on the same course. We are still seeing homes, all the way up into the $300,000 range getting multiple offers!  Many times getting them within the 1st week after coming on the market. On some of the lower priced properties offers as high as 10% over list price are getting beat out.

So what’s the bottom line if you’re looking to move in the Las Vegas area within the next 6 months?

If you want to know how to achieve your real estate goals in this new changing market, then my best advice right now is that you contact me so we can get together for a quick consultation. I don’t know yet what your real estate goals are, but I can ask you some critical questions, listen vigilantly to your answers, then give you clear enough advice so you know absolutely what your next best step is.

To schedule your consultation Call me at 702-245-7227 of fill in the form.  

[contact-form]

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

The Market Is Changing, Find Out How This Affects You

Okay, Here are some quick numbers about the market. Right now as I write this there are 7,314 available homes in the MLS in the whole Las Vegas Valley. This is Down from over 13,000 last summer. The available homes breakdown like this: 1,107 REO’s (foreclosures), 3,051 Short Sales, and 3,149 “Traditional Sellers”- meaning sellers that are not in an REO or short sale situation.

 Did you catch that? The number of traditional sellers is higher than the number of either short sales or REO’s on the market! Compare this to last year when the short sales and REO’s made up about 75% of the available homes.

Let’s dig a little deeper.

In the last 30 days over 3,800 homes sold, and get this: The AVERAGE sale price to list price ration was 100.97% – That’s right, ON AVERAGE buyer’s paid almost 1% OVER the list price. Compare this to last summer when the average sale price to list price ratio was 98.61%. Right now we are seeing homes, all the way up into the $300,000 range getting multiple offers! Many times getting them within the 1st week after coming on the market.

So what can you do?

Whether you want to purchase a home or sell the one you have, we have specific strategies that can help you achieve your goals in this changing market.

To Learn More Call Joe Cusimano at 702-245-7227

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

During the last 30 days a total of 54 homes sold in Southern Highlands. These homes sold with prices ranging from about $2.3 million for a stunning 5 bedroom, 7700+sqft. home in The Estates in the Southern Highlands Golf Club, down to $88k for a 3bed 2bath townhome. On average, homes in Southern Highlands are selling in 76 days.

So what’s currently available? There are currently 188 homes for sale in Southern Highlands offering something for a wide range of buyers. There are 3bed3bath homes priced under $100k, all the way up to multi million dollar estate homes in the Southern Highlands Golf Club, and numerous price points in between.

To get a FREE list of homes currently available in Southern Highlands simply fill in the form below, or call us at 702-245-7227.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

The last four years have been a rollercoaster ride of positive and negative sentiment, often caused by false prophets promising relief from the recession. The sub-prime crisis and unemployment have hit Las Vegas especially hard and it seems as though bad news continued to pour in throughout 2011.

So, where are we today? It appears as though everyone is waiting for something to happen: will we be pushed into a second, double-dip recession or will we somehow pull through?

Looking back at 2011 and beyond might give a clearer picture of where we are headed. Here are seven factors that will play a major role the real estate market in coming years:

• House prices are down from a year ago, but the trend is improving.

• With house prices at these levels most buyers qualify for government-backed access, placing homes within everyone’s reach.

• Sales growth is higher than a year ago and continues to grow. More units are being sold than the preceding two years and levels of growth are higher than the national average.

• Local employment conditions have held their own and seem to be slowly improving. Growth here is also higher than the national average.

• Construction of new homes is very low – in fact it is 77% lower than normal. Construction of new homes is the factor which normally drives the supply of homes, but foreclosures play a more important role in the current climate.

• Foreclosures have been slowing down since the fourth quarter of 2010 and it has dipped sharply since the middle of this year. This means there are fewer homes entering the market than before and with high affordability and low prices we should see the market stabilize.

• Rental vacancies are continuing to decline in Las Vegas. Many families were forced to share accommodation, moving in together during hard times and many young adults moved back in with their parents at that time. Now the situation seems to have turned around and people are venturing out on their own again.

Market conditions might just be on the point of becoming stable, right before we start to see a bit of growth coming back into it. Right now you can consider yourself very lucky if you are a buyer: affordability is high, meaning you get more for your money, prices are low, and the markets are stable – the value of your home will be secure.

Exploring the many homes that are available for sale in Las Vegas comes no easier than doing it with us. Simply fill in the form below and a list of the available homes and condos will be send right to you.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Summerlin is one of the most sought after master-planned communities in Las Vegas and one of the most popular nationwide. Located on 22,500-acres near the Spring Mountains and Red Rock Canyon National Conservation Area, it provides for a truly integrated environment to live in where recreation and other daily activities are within easy reach.

The community of Summerlin is laid out in villages which fit in with the aim of master-planned communities to have outdoor activities, parks and recreation facilities, and schools all within easy walking distance. The community’s many cycling trails are a major attraction to cyclists from all over.

There are  grand total of 23 parks that are owned, maintained, and operated by the Summerlin Council. They offer amenities like soccer fields, baseball fields, football fields, basketball courts, swimming pools, and tennis courts. Apart from the many cycling trails there are also many hiking trails which totals 150 miles between the amenities and the different neighborhoods in the community.

It is, however, Summerlin’s beautiful homes which sets it apart from other master-planned communities. While most master-planned communities provide excellent accommodation with well rounded finishes, they often tend to have an institutionalized feel to them because of the similarity in design.

Not so with Summerlin where a number of master builders gathered to build a magnificent range of homes. William Lyon Homes, Pulte Homes, Toll Brothers, Incorporated, Condo Capital Solutions, and KB Home are just a few of those who had a hand in creating the variety that makes Summerlin famous and greatly sought after.

Summerlin is not just for the rich and famous – although it does cater for them too – homes start out from around 1,500 square feet which can be ideal for a starter family.

Large to very large homes are also located in Summerlin with estate homes clearing 10,000 square feet in size. Homes as large as these are naturally located on ample lots.

Summerlin is famous for a number of things: parks and recreation, golf, its homes; but the magnificent views are what truly stun visitors right before they realize they’ve found the “where” they were looking for.

Are you looking for the kind of life you’ve always dreamed of living? Summerlin offers you the opportunity to settle in a community where living a happy life is easy. Choosing from amongst the rich choices of homes available is just as easy. Simply fill in the form below and you’ll have a host of options in mere minutes.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

New Year is something to look forward to, and there are a number of great events as you’d come to expect in and around Las Vegas to brighten up your life.

Comedian Terry Fator will start a new run on January 3 at The Mirage Resort and Casino. Terry will be performing with a host of his own creations and this promises to be a great evening out.

If you haven’t yet seen the magnificent Cirque du Soleil in action, you now have the chance to experience them live. Starting on January 3, this cast of 75 international artists will perform their blend of drama and exhilarating artistry that brings the stage to life. The show is titled Mystere and is performed at Mystere Theatre.

In hard times like these we can all do with a bit of a laugh and on January 3 the Las Vegas Comedy Show will start with a run of its own. The show will be hosted at The Alexis Park Resort Hotel and will be lead by comedian Joe Lowers in the company of some other show stopping acts.

Taking us back to the good old days, Sandy Hackett’s Rat Pack Show will be performed at the Las Vegas Hilton from January 3. The show takes audiences back to the 1960s when Frank Sinatra, Dean Martin, Sammy Davis Jr. and Joey Bishop, known as the Rat Pack, ruled the Las Vegas Strip.

What better way to create understanding between the sexes than to laugh about our differences? That’s exactly what Rob Becker’s famous play, Defending the Caveman does. Performances start from January 1^st at Harrah’s. Lisa Lampanelli, described as Comedy’s “Lovable Queen of Mean”, will perform her one time act on January 14 at the Pearl Concert Theater at The Palms Casino Resort. She has appeared numerous times on Comedy Central and with Jay Leno and Howard Stern on their respective shows. Don’t miss out on this one.

On January 21 at Summerlin Community Park, live music and fine wine tasting will make for a blended cohesion of the senses. Music will be performed by Lixx, everyone’s favorite 80’s cover band.

Las Vegas is not only a great place to attend events, conferences, and shows; it is also a great place to call home. Explore the best that Las Vegas has to offer by simply filling out the form below and all the latest listings will be send right to you.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

The US economy might have created 140,000 jobs in November, but the Las Vegas-Paradise still came in with an unemployment rate of 13.1%. This is more than 4% higher than the national average.

There is however some good news for the economy at large and Las Vegas specifically. Employment in leisure and hospitality continued to trend up in November nationally by some 22,000 jobs. In the last 12 months 253,000 jobs were added by this sector, showing that the American public is once again ready to spend money on entertainment.

As just over 28% of the Las Vegas civilian labor force is employed in leisure and hospitality, this news is more than welcome. In fact, this sector has seen 5.3% growth year on year

• Growth will come from the private sector. While the public sector continues to shed jobs, private enterprise has a different outlook. Private firms created new jobs because they believe they can make the profits to carry those wages.

• Banks will benefit too. More Americans will rejoin the job market and for many it might not be too late to repay their mortgages. While banks might not be very popular they are necessary to hand out credit (responsibly) to make the markets work and for growth in business.
• We’ve seen foreclosures slow down dramatically with the passing of Assembly Bill 284. The general consensus is that this is a temporary effect as financial institutions look for a way around this. A healthier, future employment figure could however stabilize this more permanently.

• Higher employment lessens social ills and provides better neighborhoods. Where employment rates are higher, crime rates tend to decline and if communities improve, prices stabilize before growth finally returns.

• There are still excellent opportunities to buy real estate at good value. These changes, while more looking more likely than a year ago, are only likely to happen over the longer term. In the mean time it is still a great time to buy.

With affordability at an all time high, now is a great time to buy a home in one of the many wonderful locations in Las Vegas. Exploring for a home in Las Vegas might seem daunting because of the number of quality homes available. However, finding out just which ones match your specific needs is easy. Simply fill in the form below and we’ll send you a list of the latest homes on sale now!

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Henderson will have its 60^th anniversary in 2013, but it nearly happened that the vibrant city reached a dead-end within ten years of its inception, if not for city fathers and the Nevada Legislature who saw what it could become.

Henderson was founded as a township to house workers engaged in the production of magnesium as part of the heroic efforts of the Allied forces during World War II. Magnesium, described as a “miracle metal”, had many applications: airplane engines and frames, incendiary munitions, and other parts, and was in constant demand.

After the end of the war with the production of magnesium no longer necessary, most of the 14,000 workers moved away and more than half of the town’s houses stood empty. The United States War Asset Administration nearly offered Henderson for sale as war surplus.

The Nevada Legislature visited the town to explore the possibility of magnesium being a state administered resource. They spent an entire weekend there and after a couple of days made the decision to give the Colorado River Commission of Nevada the right to purchase the industrial plants.

Six years later the city of Henderson was officially incorporated on April 16, 1953. The town then had a size of 13 square miles and population of just over 3,000. Big things were still to follow.

From its inception Henderson always had a vision of becoming a community centered town, as shown by the town’s motto: “Henderson-a Place to Call Home”.

The town, now a city, has steadily grown from its initial modest proportions to a population of 257,729 stretched over 94.5 square miles and is now the second biggest city in Nevada. Yet it retains a quality of life unrivaled by most cities, rated as the 20^th best city to live in according to Money Magazine and as the sixth best walking city in the US according to Prevention Magazine.

The city now boasts all the amenities of major cities, but also has the small town feel of master-planned communities like Green Valley and Seven Hills. There is also a rich cultural heritage in Henderson as witnessed by the annual Shakespeare in the Park festival.

If you are looking for a “Place to Call Home”, look no further than the city with a small town feel. To get information about the fine homes that are available, simply fill in the form below.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

The community of Seven Hills in Henderson was named after the seven hills on which Rome was founded. To equal the ambition of this high name, the neighborhood was planned to achieve a style of living and quality of life that is rarely paralleled elsewhere.

It is called a master-planned community, but that does not accurately convey what developers aimed for when they mapped out the suburb that was to be America’s latest neighborhood in the style of New Urbanism.

New Urbanism is a model development that hankers back to the towns America had before the age of the automobile and before urban sprawl took place. Planned to be more accessible to pedestrians, it has a mix of residential, parks and commercial real estate close to each other. A chief benefit of higher pedestrian traffic is naturally less congested road traffic.

Even though Las Vegas has featured in numerous films and on television, to get an idea of what planners had in mind with Seven Hills you have to look at the town in the movie The Truman Show. Add friendly Nevada locals, breathtaking landscape and you have the most sought after real estate in the Las Vegas area.

The style of architecture in Seven Hills is predominantly Tuscan and in keeping with the Roman theme its four parks are named Puccini, Allegro, Vivaldi, and Sonata.

There are a wide range of homes available in the communities of Seven Hills, some of them gated or even guard gated. Some of the smaller one and two storey homes are between 1,241 and 2,225 square feet in size. There are also larger homes available ranging in size up to 4,045 square feet.

Las Vegas is of course known for its panoramic views and some of these homes have views of the city, mountains, and of the Rio Secco Golf Course. The Revere Golf Club is also located in Seven Hills.

Seven Hills is only 7 miles from the Las Vegas Strip. Being this centrally located it is merely half a mile east of the Henderson Executive Airport, which is primarily used for private aircraft.

If you are looking for a lifestyle where style truly matches quality of life, look no further than Seven Hills. To find out more about the range of wonderful homes available, fill in the form below and in mere minutes you will have a host of options in your hands.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.