I find it so incredible that people cling to "Market Analysis Reports" that compare statistics to last year and forcast for the year ahead. Really? Do you want to ride that roller coaster? It's like trying to predict the stock market isn't it? Let's stick to true market facts from a "First Responder", ME. I cannot predict what is going to happen to property values next week, next month or next year but I can share my experience with what's happening right now and share the facts.
Fact #1: Las Vegas homes are less expensive to "BUY" than to "Rent".
Fact #2: Las Vegas homes are less expensive to "BUY" than to "Build".
Fact #3: Interest Rates are "INCREDIBLY LOW".
Fact #4: In Las Vegas we have more loan programs available than many other states because investors know our market is "UNDER VALUED".
Fact #5: Nevada does "NOT" have State Income Tax, Inheritance Tax, Gift Tax or Corporate Income Tax.
Fact #6: Buyer's are flocking to Las Vegas for 2nd Homes/Vacation Homes, Investment Properties and Relocation due to all the facts I stated above.
How do I know this? Because "I" am a First Responder, a Realtor in the current market of whom has never left. I currently have 8 escrows and on average actively showing 3-5 Pre-Approved Buyers homes every week. All I can tell you is from "My Experience" in the current market, Las Vegas is the place to buy.
Monday, July 11, 2011
Thursday, June 23, 2011
What Now? Government trying to enforce new FHA Guidelines?
Yes that is exactly what they are trying to do. Instead of putting their focus on the Big Banks to enforce them to comply with the terms of the bail out money and work with homeowners on modifications (ie: Hardest Hit Fund)
http://www.nvar.org/Libraries/Enews_and_Health_Enews_Repository/Hardest_Hit_Fund.sflb.ashx
instead they are looking to regulate FHA guidelines even further which will kill our slowly recovering market.
"How", you ask?
The government wants to lower the loan limits for FHA "and" raise the required amount down from 3.5% to 20%! Do you have $20,000 to put down on a $100,000 home? What about $40,000 if you want to buy a home in Green Valley, Summerlin etc. Of course not! This is ludicrous and until we speak out they will run us over yet again with absurd policies.
Listen to the podcast:
http://www.realtor.org/wps/
Here is a link to the National Association Realtor's Site for more current info regarding the housing market.
http://www.realtor.org/about_nar/presidents_report/_podcast_archive/loanlimits_qrm?cid=WR06222011:22086&ed_rid=1095594
STEP UP AND BE HEARD!
http://www.nvar.org/Libraries/Enews_and_Health_Enews_Repository/Hardest_Hit_Fund.sflb.ashx
instead they are looking to regulate FHA guidelines even further which will kill our slowly recovering market.
"How", you ask?
The government wants to lower the loan limits for FHA "and" raise the required amount down from 3.5% to 20%! Do you have $20,000 to put down on a $100,000 home? What about $40,000 if you want to buy a home in Green Valley, Summerlin etc. Of course not! This is ludicrous and until we speak out they will run us over yet again with absurd policies.
Listen to the podcast:
http://www.realtor.org/wps/
Here is a link to the National Association Realtor's Site for more current info regarding the housing market.
http://www.realtor.org/about_nar/presidents_report/_podcast_archive/loanlimits_qrm?cid=WR06222011:22086&ed_rid=1095594
STEP UP AND BE HEARD!
Wednesday, June 22, 2011
Better Job Stats for Las Vegas just around the corner!
I believe we all now understand that jobs can and only will be produced by local markets and with the private sector and with that Las Vegas I believe is on track to make large strides over the next 12 months. Recently in the news are several companies hiring including but not at all limited to Plaza Hotel Casino (800 jobs), Zappos.Com (2000 jobs), McCarron's New International Airport (thousands, not predetermined amount). Why are businesses flocking to Nevada like the World Market Center & Lou Ruvo Brain Health Institute/Cleveland Clinic?
Simple, No Corporate Income Tax and No State Income tax for employees. Not to mention many of our commercial spaces are newer than many other states and at an all time low for leases. It's a win-win for the Employer and their Employees. Home prices are at such a low point and coupled with the low intereset rates 4.25%-4.75% it couldn't be a better time to buy. You would be paying nearly 50% more than a mortgage payment just to rent the same property.
While many states try to crunch numbers and impose more taxes, Nevada stands firm on what has made it a great place to live and invest; keeping taxes low.
Simple, No Corporate Income Tax and No State Income tax for employees. Not to mention many of our commercial spaces are newer than many other states and at an all time low for leases. It's a win-win for the Employer and their Employees. Home prices are at such a low point and coupled with the low intereset rates 4.25%-4.75% it couldn't be a better time to buy. You would be paying nearly 50% more than a mortgage payment just to rent the same property.
While many states try to crunch numbers and impose more taxes, Nevada stands firm on what has made it a great place to live and invest; keeping taxes low.
Energy Audit No Longer Valid
As of June 13, 2011 the incredibly confusing and now considered of no real value Energy Consumption Audit when transfering ownership of a home is no longer required and now defunked. One day we will hopefully have a better way of determining the energy efficiency of homes. Some home inspectors may have the appropriate equipment to conduct this assessment as part of their home inspection process but only time will tell if they should choose to do so.
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