Right now, there are 818 condos available in the Las Vegas Valley listed at $100,000 or less, and a few more in age-restricted communities. Of those, 537 were built 1990 or later. And of those, 244 are less than 10 years old. For the moment, let’s drop from consideration the 108 condos that are listing [...]
I’ve been studying the latest information on the Las Vegas housing market. This week, we had just under 17,000 single family homes available, and an additional 4500 condos and townhomes. Sure, prices are down almost 30% over last year, but actual closed sales are up over 40% from last year. That’s simple supply and demand: [...]
I’ve been telling you for a while that we have relatively little supply of rental housing here in Las Vegas. Between newcomers to the Valley and investors losing rental homes to foreclosure, there are very good reasons for constrained supply! That doesn’t even account for people who are in rental housing after losing their primary [...]
I’ve been hearing a lot of ads on the radio lately for a website called RentalForeclosure.com. The ad does tell the truth about tenant’s rights during a foreclosure: the tenant has very few rights. Nevada does have a loophole for those (rare) cases when the tenant’s lease pre-dates the landlord’s mortgage. It also appears that [...]
All week we have seen pundits and oracles talk about the imminent doom of Fannie Mae and Freddie Mac (I’ve written before about who they are and what they do, and why it’s a little problematic). Jim Cramer has been saying to get out of Fannie and Freddie’s stock for a year. Warren Buffet told [...]
As a real estate professional, I just don’t understand why some people hate apartments. Frankly, any argument you can make against apartment life can just as easily be leveled at condominium life. Complaints about “noisy neighbors on the other side of the wall” and “lousy parking” come to mind. Furthermore, the management team of a [...]
You’ve seen the disclaimers at the bottom of those mutual fund ads on the TV, right? The ones that say no single investment is for everyone and you should consult your financial adviser before sending money? Well, buying a house isn’t for everyone either. If you are one of those people for whom this is [...]
