Housing - Make it legal and they will come...

 After several years of dealing with a negative housing market,

it is nice to be able to show some positive data.

The top graph has Las Vegas as the 2nd best city in the Nation 

in rising home values over the past 3 years.

The lower graph has Nevada at 11% equity growth in one year.

I find it interesting that Colorado, Washington and Oregon are all in the top 5.

3 states that have legalized marijuana.

The Key to a Strong 2016... JOBS! - so who's been hiring?

 Taking a quick look at Home Values for Las Vegas and Henderson,

We see a leveling off and / or a prices dropping going into the end of the year.  

 The key to a continued growth in the Las Vegas Real Estate Market is Jobs.

According to The city of Las Vegas,

The largest growing sector of Jobs is Construction.

Second is Leisure and Hospitality.

click images for more details

Las Vegas

Henderson

Who's Buying Homes? young or old ...

Interesting Comparison of who is Buying homes broken down by age groups.

in 2005, 10 years ago the country seemed even.

10 years later things seem different.

So what happened?

We had a housing bubble / crisis.  A Struggling Economy.

We hear a lot about how the millennials can't find jobs.

North Dakota had a Fracking Boom.

Florida has a lot of Retirees.

Not exactly sure what causes changes like these but they are interesting to look at.

Seasonal Trends are Becoming More Noticeable...

Last Year about this time many people, "In the Know"

claimed that the Real Estate Market had Peaked.

Prices had leveled off and activity had slowed, 

the same way it is happening now.

In a Normal Market, there are Seasonal Trends.

On the graph below we can start to see ours.

Prices leveling off and a slower market from Sept thru March.

And rising activity and Sales Prices April to August.

Knowing this, Buyers might want to take advantage of this Trend. Now!

We still claim that our Las Vegas Market has a way to go before it has fully recovered.

According to Trulia, we are at 2004 pricing. Where should they be?

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