The cost of owning a home in the Las Vegas area has gone up as home values in the Las Vegas area have been on the rise in 2018 and may continue that trend in “some” areas.
If you are a Las Vegas home seller that is good news for you, but not as great for Las Vegas home buyers.
Las Vegas is seeing a lot of buyers coming from California as they are able to afford a whole lot more or a house here in Las Vegas, sometimes sell 1 in Cali and buy 2 here in Las Vegas!
Just take a look at what you can get in Las Vegas homes for sale for $400,000 to $500,000
One Las Vegas home trend we are seeing is colors similar to this picture below. Do you like?
Other things that are driving the housing market are all the sports teams now in Las Vegas and with the new Raiders stadium being built Las Vegas has become somewhat of a sports heaven for some sports fans.
They can see so many types of games in person and maybe make a few bucks at the same time!
Maybe you want to be a savvy home buyer and buy 2 homes in Las Vegas, 1 to make in a Las Vegas rental home and the other to live in and want to buy those 2 homes in the $250,000 to $300,000, if that is the case check out these Las Vegas homes for sale under $300,000
If you are moving up, down, or cross town message (702) 812-4550 to get started Selling or Buying!
If you are a 1st Time home buyer and don’t know where to start message us!
Las Vegas Home Values 2018
The amount of Las Vegas homes for sale that do not have contracts on them is approx 4,056 homes.
There are approx 4,600 homes that already have contracts on them and are waiting to close escrow.
Approx 2,900 homes have sold in the past 30 days.
Do you want to buy a Las Vegas home? (702) 812-4550
Are you thinking of selling your Las Vegas home? (702) 812-4550
Las Vegas Nevada Real Estate Market Report May 30, 2018
Las Vegas Home Values Rising Available Homes For Sale Falls
As the amount of available Las Vegas Homes for sale declines it may continue the upward rise in some Las Vegas Home Values.
The Las Vegas housing market is experiencing a shortage of homes for sale in most of the Las Vegas/Henderson area for homes priced under $400,000.
We need more homes to list for sale as the buyers are in the market “Now”.
Contact (702) 812-4550 to get your home listed for sale on the Las Vegas MLS.
Sellers may think they want to wait or hold out for higher prices, but they need to keep in mind that rising interest rates may push some buyers into a Lower buying bracket and some of the buyers who are “Approved” to Buy Now, may get tired of trying to find the right home now and go back to renting. If too many buyers make that decision, we could see home prices slow and home could stay on the market longer.
There are some sellers who want to sell and move up/down or buy a new home, if that is you contact us, (702) 812-4550
In the next month or two, we may see Less homes get sold if more homes are not listing for sale on the Las Vegas real estate market.
But, for now it is still a “sellers market” as there are a bit over 4,300 Las Vegas homes for sale that are NOT under contract with a buyer, which is about a two month supply, (maybe a little less or more depending on your neighborhood) where a normal market typically sees about a 6 month supply of homes for sale.
If you are a Las Vegas home buyer, hang in there, and be prepared to look at home “BELOW” your approved purchase price so you leave that wiggle room to go up in your offer price in order to “hopefully” get the home.
Another option for some Las Vegas home buyers in to contact us (702) 812-4550 to see if we can help you buy a “new” home. You may save money and/or get rebates towards closing costs and/or down payment, but you need to get with us “BEFORE” you ever step foot into a “model” home or sign up with any of the new home builders.
Did Your Credit Card Interest Rate Just Go Up?
If you haven’t been paying attention to your credit card interest rate, you better go check it now, especially if you are in the market to buy a home.
If you carry a balance on your credit card each month and the interest rate goes up, well so does your payment.
You may see your payment jump just a little a think “no big deal”, but did you check your interest rate, your % that
they charge you each month to carry that balance? Well you should pay attention because those numbers go up,
that means LESS Home buying power for you.
That rate may have just jumped 5% higher! Yes, it can happen and it did!
In less than 30 days one credit card company has raised its rate by 5%!
Why? One reason is because they can, but mainly,
The Federal Reserve has raised rates and that also typically causes the Prime rate to go up which is what your credit card interest rate maybe based on.
The prime rate, as reported by The Wall Street Journal’s bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit card rates. It is in turn based on the federal funds rate, which is set by the Federal Reserve.
The prime rate is the underlying index for most credit cards, home equity loans and lines of credit, auto loans, and personal loans.
What can you do? Don’t carry a balance, pay your credit card off every month. Call the credit card company and see
if they will consider lowering your rate.
If you are already Pre-Approved to buy a home, don’t make any money moves without consulting your lender!
Contact (702) 812-4550 to get the FACTS on what home prices are REALLY selling for in your neighborhood!
Dawn Barrier REALTOR in the Las Vegas Henderson area
Las Vegas Home Buyers Find Your Las Vegas home here on our site
and see the newest real estate listings at eXp Realty.
Las Vegas Home Buyers message me for information on How to Get Pre Approved to buy a home
Las Vegas Home Sellers, when I represent you the #1 Goal is to get your home SOLD for the MOST amount of
money in the shortest amount of time!
$0 – NO Upfront fee to List your Las Vegas/Henderson home for sale!
Dawn Barrier EXP REALTY Las Vegas (702) 812-4550
Las Vegas 1st Time Home Buyers May Be Forced out of the Las Vegas Real Estate Market
Rising interest rates combined with low inventory and rising home prices may get some Las Vegas 1st Time Home Buyers to get of the fence and Buy Now (702) 812-4550, while for others it may kill their ideas of buying a Las Vegas home.
The longer a buyer waits to buy a Las Vegas home, the more risk they are at having to pay more for a smaller home or maybe not get into the neighborhood they desire. Even small rate increases add up According to Realtor.com – On a $300,000 house with a 30-year fixed mortgage and 20% down payment, the difference between 4% and 5% is $142 a month. That’s more than $51,000 during the life of the mortgage.
Are you looking for maybe $250,000 Homes in Southwest Las Vegas?
Here are some Homes in South West Las Vegas zip code 89148 for $200,000 to $250,000
Did you see an “Online Estimate” of Your Las Vegas home value and you didn’t like it?
Contact (702) 812-4550 to get the FACTS on what home prices are REALLY selling for in your neighborhood.
Posted earlier at: Las Vegas 1st Time Home Buyers May Be Forced out of the Las Vegas Real Estate Market
Any Stats are on Resale Single Family homes only per the GLVAR MLS as of this writing or as noted,covers the Las Vegas Valley, North Las Vegas, Henderson area or as noted. All photography on this site are the property of Dawn Barrer unless otherwise noted and are protected by U.S. Copyright laws and are not allowed to be downloaded or reproduced in any way without written permission of Dawn Barrier.If you would like permission to use a photo please email Dawn Important Notice -This is a personal blog.