Local Economy

Sept. 15, 2012

Neighborhood Real Estate Watch: Lake Las Vegas

One great thing about Las Vegas real estate is the variety- yes, variety.  Contrary to popular belief, Las Vegas is a mecca of various neighborhoods, each offering their own personal positive attributes and value.  So, how has the economic fluctuation in real estate affected individual neighborhoods in Las …

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Sept. 13, 2012

Could your home start a bidding war?

The Las Vegas housing market has seen a steady increase in prices, mainly due to cash investors. House inventories are down – nearly 24% when compared to last year – which means that there will be more offers on each house that goes up for sale. The increase is particularly …

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Sept. 12, 2012

People may feel optimistic, but what does the market say?

According to the August, 2012 survey conducted by Fannie Mae, 40% of responders believe that the current mortgage rates will increase over the next year. Adding to that the 18% who believe that it is currently a good time to sell and 73% feel it’s a good time to buy …

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Sept. 10, 2012

Decline in Foreclosure Inventory for Las Vegas

Nevada has seen a recent decline in foreclosure home sales.

Realty Trac reported this dip in foreclosure sales info on Wednesday night.  This is news greatly affects the future of real estate and economy Nation-wide, as well as in the state of Nevada. 

A little more about Realty …

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Aug. 8, 2012

LAS VEGAS HOME SALES SLOWED BY A TIGHT SUPPLY IN JULY

Prices edged up slightly from the previous month according to the Greater Las Vegas Association
of Realtors.

Realtors sold 2,890 single family homes during the month, a 10.1 percent decrease from June and
a 8.7 decrease from the same month a year ago.

The median price rose …

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Aug. 5, 2012

HOUSE HUNTERS FINDING OUT THAT CASH IS KING IN LAS VEGAS

One Las Vegan has made nine propositions since February. He's hired professionals to help him
find the right house. Four banks have pre-qualified him.

Yet, every time he's made an offer on a home, someone else has swooped in, usually an investor
with cash, often with a higher bid …

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July 26, 2012

LAS VEGAS AND NATIONAL NEW HOME SALES PLUNGE IN JUNE

Two year high set in May followed by 8.4 percent drop in June. The steep decline suggests a weaker
job market and slower growth could make the housing recovery uneven.

Las Vegas based SalesTraq reported 353 new home sales in June, down from 413 in the prior month and …

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July 21, 2012

LAS VEGAS HOME VALUES RISE IN JUNE

Although concerns about the shadow inventory of foreclosures, underwater homes and a stubbornly high unemployment rate exist, Home Builders Research Friday reported 438 new home sales in June at a median price of $194,490, a 3 percent decrease from a year ago.

"The slight drop is nothing to worry about …

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July 12, 2012

LAS VEGAS HOME SELLERS HAVE THE EDGE AND RATE THE NUMBER 3 SELLER'S MARKET IN THE NATION

Home sellers are thriving in San Jose, San Francisco and Las Vegas, where price cuts are relatively uncommon and homes are sold often at or near their asking price according to a spokesman at Zillow.com.

On the other end of the spectrum, Chicago, Milwaukee and Cleveland are still buyer's …

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July 10, 2012

LAS VEGAS REALTORS GROUP SAYS HOME SALES DOWN IN JUNE

Home sales fell in June as the inventory of single family homes for sale continued to decline.

The median home price increased 5.9 percent from a year ago to $131,785, the fifth straight month of
rising prices. It's the highest median price since December 2010.

Single family …

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