Coldwell Banker Premier Realty

Is Las Vegas Overvalued? We Dare Say

Posted by Tamara Foote on May 24, 2018 in  uncategorized
May 24, 2018 Dear Ms. Sharf: Re: Forbes May 14th, 2018 – Most Overvalued Housing Market Please pause to consider some important alternate facts. Firstly, the Las Vegas unemployment is way down, not up. Secondly, our housing market is healthy again having rebounded strongly from the lows in 2009-10. Contrary to Fitch’s assertion, we see the current local market fundamentals as far different from those of the recent boom-bust. Today’s positive economics are based on conventional and sustainable val... read more

Investors, the flip rule and FHA buyers

Posted by John McClelland on January 20, 2010 in  uncategorized
House flipping was made popular by some cable tv shows during the boom and its occurring very often today too.  But many buyers are also aware of the flip rule for FHA, where the resale of homes to FHA buyers could not occur until after 90 days. The rule was initially meant to prevent fraud, similar to what Tony Soprano did in the third season of the Sopranos. However, the rule made many of the “flipped” homes nearly unobtainable for a lot of buyers. A rule reversal is scheduled for February 1st. T... read more

Investor Activity

A declining but still large component
Posted by John McClelland on March 25, 2014 in  uncategorized
Investors played the largest role ever in the Southern Nevada housing market.  In the spring of 2013, cash sales were over fifty-percent of single family transactions.  Presumably, a majority of these cash sales were made by investors. Private investors, many of whom fall into the “mom & pop” category of investors, have always been a significant component of our market.  Recently, institutional investors, often from the private equity world, have taken a large position in the Las Veg... read more

Investor 2.0

Another Phase in An Evolving Market
Posted by John McClelland on March 24, 2016 in  uncategorized
The Las Vegas area experienced a wave of investor activity in the 2010 - 2014 years, normalizing greatly in 2015 as traditional buyers grew in share of overall sales. At the peak of investor activity, nearly half of all single family closings within the multiple listing service utilized cash. Currently, 23.5% of single family sales closed with cash, many of these investors. So while investor activity has clearly dwindled from just three years ago, there remains a lingering interest in single family homes as an inve... read more

Inventory Update

Posted by John McClelland on May 07, 2012 in  Las Vegas Housing Market
The supply situation continues to go unresolved. New listings are nearly matched by closings and inventory continues to decline. As a result, buyers and their agents are working extremely hard to match properties. For sellers, this could be a good time to list their home, since competition in many neighborhoods is sparce. Further, we are observing firming prices in many areas, but we do not know how long this will be sustained since we need to move past the peak selling season in order to observe if prices are bein... read more

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