Rents are on the Rise... Interest Rates are Low... Probably Time to Buy...

There was an article in the LVRJ last week saying, 

Rental rates rising sharply in Las Vegas Valley

Since the Year 2000, Rents have jumped from about 

25% to almost 33% of your Income.

Buying a Home is NOT like Buying a stock.

Buying a Home is more about where you are in Life.

If you're renting an apartment in any of the Red Zones,

 on the Map below, and paying over $1,000/ month.

It's probably time for you to take the Next Step in Life and Buy a Home.

Interest Rates are Low.  For 2015 rates are below 4%.

 

FHA Buyers with around $5,000 for a down payment,

can Buy a $160,000, with some Seller assistance, 

and have a Payment below $1,000/month.

That includes Payment, Interest, Taxes and Insurance.

Home Prices Leveling Off - Activity Slows - Still a Sellers Market

Below is Price Trends and Market Activity 

for Las Vegas, Henderson and North Las Vegas.

All 3 show pretty much the same trend, a slow and gradual climb.

 Activity in All areas has slowed later in the Summer,

but all still remain Sellers Markets.

This is a common cyclical trend we see in a Normal Real Estate Market.

I put the 15 year graph on top this time because people tend to look at the 3 year graph 

and get worried we are heading for another "Pricing Bubble".

As I have said in the past,  We are in a Healthy Recovery.

Las Vegas

Henderson

North Las Vegas

Education - Income - Home Values

  Realtor.com & Payscale put together this data showing 

the average home price graduates with specific college degrees could afford.

Being a father of a high school senior, this is very interesting to me.

Ironically, as important as an education is, 

people working in the education field tend to be near the bottom of the list.

For the complete article and a detailed list of 300+ College Majors,

Click Here

Cash Buyers - "The Smart Money", still likes Nevada

One of the Big Problems when we had during the Housing Crisis was that 

Buyers didn't have have enough "Skin in the Game".

Buyers were putting 5% down and hoping values would continue to Rise.

Now "The Smart Money" puts 100% down.

These are the Cash Buyers.

In Nevada over 1/3 of all transactions are Cash Buyers.

In my opinion, a Good sign of a Strong Market.

 

Tourism is Pushing Las Vegas's Real Estate Market

 Las Vegas is a Tourism driven Town.

The Improving National Economy is having a positive affect on Tourism.

Below are some statistics the Vegas Convention and Visitors Authority.

 

 For more information click this link

http://www.lvcva.com/stats-and-facts/visitor-statistics/

2015 US Housing Stats and Trends

 

Nearly a decade removed from the onset of the recession, the U.S. real estate market has made significant strides. The recovery has gained momentum, and markets across the country are starting to show signs of life. Highlighted by historical appreciation rates, increased home sales, and a reduction in distressed properties, 2015 real estate trends suggests that the market is primed to fire on all cylinders. The following is just a small example of what we have seen up to this point:

• A 10.4% increase in total existing-home sales.
• A 5.7% increase in the median price.
• A reduction in distressed sales, with foreclosures and short sales dropping from 14% of all home sales to just 10%.
• 40% of all homes are sold within 30 days.
• The average price is up 28.2% in the past 3 years.

Than Merrill expressed his enthusiasm towards this year’s real estate trends saying, “The real estate market continues to rebound across the country and we’ve experienced 37 consecutive months of year-over-year price gains.”

 Click Image below for a Larger Version.

Wealth Map Shows Negatives for Las Vegas: from 2011 - 2013

 Click on Image to Open Web page for Interactive Map

Search by State - Metro Area - Zip Code

I find it interesting that in June of 2015 they are 

putting out articles about Data from 18 months ago.

Since 2013, Las Vegas has had Incredible Positive Growth in Housing Values.

What's scary is how long it takes to compile this information for us,

and that the "People" who make decision in this country might be using it.

But it is still interesting to look at...