Las Vegas, Henderson, and North Las Vegas have seen its share of ups and downs as it relates to real estate over the years. Previously ranked as one of the hardest hit foreclosure markets in the country, there were plenty of Las Vegas and Henderson home owns who found themselves underwater. We have since seen an upswing in the market since those gloomy days and Las Vegas now ranks much differently on that same scale. With just 10-11% of homes on the market listed as short sales or foreclosures, we are seeing that most homes currently for sale in Las Vegas are considered equity sales. That is great news for the average home owner and for owners looking to sell their Las Vegas area homes. There is still more good news! Vegas is in what we call a seller’s market (A seller’s market is when there is less than a 6 month supply of available homes for sale on the market.) Vegas currently sits at about a 4.5-5 month supply of inventory.
What does this mean for the home buyer? It means negotiations still often favor on the side of sellers, with some competition between buyers and well priced homes don’t stay on the available market for long. Buyers need to be able to make an offer quickly when they find something they like because it may not be available if they wait. Just short of a month or so of inventory to be considered a balanced market, it’s a great time to purchase a home as interest rates remain low, and are only anticipated to increase slightly in 2015, and with the FHA recently lowering the mortgage insurance premium, it makes it easier for buyers to qualify for a higher purchase price or keep their payments low. Las Vegas has various low to zero down mortgage and closing cost programs and grants available for qualified home buyers, some with what are considered “easy qualifying guidelines” it’s a great time to buy a home.
Above is a map of the greater Las Vegas, North Las Vegas, and Henderson area showing home appreciation and depreciation rates as it compares year over year 2013 to 2014 for the month of December. You will notice areas of town vary from zip code to zip code and appreciation/ depreciation range from 0-40%
We believe in keeping you up to date with the latest real estate statistics and are your local resource for Las Vegas home sales, North Las Vegas property values, and Henderson Home Values. Let us know how we can be of service for all of your home ownership needs.
Give us a call at 702.582.9088 or log on to our real estate website at www.DominguezMartinGroup.com to request more in-depth explanations or for specific statistics on your home. Remember, each home and neighborhood varies and a custom on-site evaluation is best when valuating your homes market value.
Search the entire MLS for available homes and make Las Vegas, North Las Vegas or Henderson, your home today.
What does this mean for the home buyer? It means negotiations still often favor on the side of sellers, with some competition between buyers and well priced homes don’t stay on the available market for long. Buyers need to be able to make an offer quickly when they find something they like because it may not be available if they wait. Just short of a month or so of inventory to be considered a balanced market, it’s a great time to purchase a home as interest rates remain low, and are only anticipated to increase slightly in 2015, and with the FHA recently lowering the mortgage insurance premium, it makes it easier for buyers to qualify for a higher purchase price or keep their payments low. Las Vegas has various low to zero down mortgage and closing cost programs and grants available for qualified home buyers, some with what are considered “easy qualifying guidelines” it’s a great time to buy a home.
Above is a map of the greater Las Vegas, North Las Vegas, and Henderson area showing home appreciation and depreciation rates as it compares year over year 2013 to 2014 for the month of December. You will notice areas of town vary from zip code to zip code and appreciation/ depreciation range from 0-40%
We believe in keeping you up to date with the latest real estate statistics and are your local resource for Las Vegas home sales, North Las Vegas property values, and Henderson Home Values. Let us know how we can be of service for all of your home ownership needs.
Give us a call at 702.582.9088 or log on to our real estate website at www.DominguezMartinGroup.com to request more in-depth explanations or for specific statistics on your home. Remember, each home and neighborhood varies and a custom on-site evaluation is best when valuating your homes market value.
Search the entire MLS for available homes and make Las Vegas, North Las Vegas or Henderson, your home today.
The Dominguez-Martin Group of Keller Williams Realty Southwest Las Vegas has been selling Las Vegas, Summerlin, and Henderson real estate for years and is passionate about bringing local Las Vegas favorite hot spots to your attention and they have a dedicated blog of family friendly Las Vegas events, attractions and highlights sharing WhyVegasIsAwesome. Specializing in educating you on local Las Vegas real estate market conditions, available homes for sale and evaluating your homes highest selling price to yield you the best return on your Las Vegas real estate investment, Melissa Dominguez and David Martin are Top Selling Realtor- Agents with the experience and know how that you need behind you. They have built a team that includes real estate service providers, and vendors that are happy to serve Las Vegas home owners in all aspects of the home buying process from the beginning the mortgage loan process and house hunt through matching you with a property inspector, carpet care, landscape and lawn care specialist, etc… When it comes to selling your home, they have all the right resources inline from clearing title and closing a loan to calling on a moving company to pack your valued treasures. Check out their website and watch their Home Buying 101 Video Series and WhyVegasIsAwesome Video Series and Blog.
Connect with them and their extensive Las Vegas business network by calling 702.582.9088 or logging onto www.DominguezMartinGroup.com
Connect with them and their extensive Las Vegas business network by calling 702.582.9088 or logging onto www.DominguezMartinGroup.com
Written By Nickel Lowman
Dominguez-Martin Group
6180 Brent Thurman Way, Ste. 100
Las Vegas, NV 89148
702.582.9088
www.DominguezMartinGroup.com
Dominguez-Martin Group
6180 Brent Thurman Way, Ste. 100
Las Vegas, NV 89148
702.582.9088
www.DominguezMartinGroup.com
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