You may have heard rumors that the Patient Protection and Affordable Care Act (often referred to as Obamacare) imposes a 3.8% transfer tax on all real estate sales and may be concerned that you will incur the 3.8% tax if you sell your home. The origin of this rumor is the 3.8% tax on some […]
Here is an interesting chart of the average prices of Las Vegas single family homes over the last year. Do you think it might be time to buy while properties are still relatively inexpensive? If the trend continues they won’t be cheap for long.
Because of the rapid changes in the Las Vegas real estate market, I have done a detailed analysis of what the market looks like TODAY. The changes are occurring so rapidly that by tomorrow this might be old news, but the trend is clearly in the direction of improvement. If you want to buy or […]
I just looked at my post of March 5 when single family inventory on the Las Vegas MLS was 7,139. Since then it has gone down by over 38% and stands as I write this at 4,358. Of that 4,358, 3,910 are in the portion of the MLS that encompasses the Las Vegas Valley. In […]
Since I posted on March 5, the inventory of single family homes has dropped from 7,134 to 5,658. A net decline of 1,476, 20.69%, in one month! During that time 3,360 sales closed which indicates that the ratio of sales to new listings is approaching 2 to one. Moreover, there are 12,841 houses with either […]
I just checked to see how many single family residences are listed by the MLS in the Las Vegas area and was somewhat surprised to find that there are currently 7,134 active listing that are not under contract. That compares with over 8,000 just a couple of weeks ago. Inventory is declining with stunning rapidity. […]
After writing my last post I was looking around and found an article that referenced a recent survey conducted for FICO by the Professional Risk Managers’ International Association (PRMIA). In that survey, 49 percent of respondents said that they did not expect home prices to rise to 2007 levels before 2020; 21 percent of respondents thought […]
With interest rates at historical lows and home prices depressed, while rental rates have held relatively steady, there is an unprecedented opportunity to generate outsized cash-on-cash returns on real estate investments in the Las Vegas area. Let me illustrate this with a simple example. At the time of this writing, there is a single family […]