Q. Is it a good time to buy? Are Rates Good?

Some in Real Estate say,

It's All about Location, Location, Location...

Now people want to know if it's a good time to Buy based on whether or not the 

Market is going up or down or if Interest Rates are good.

It seems it's more like buying a Stock than a Home. 

Below you can a Historical Graph of Interest Rates.

Below that is a State by State Comparison of each States Equity Growth.

Nevada has had an Awesome Recovery over the past few years.

I wonder what Colorado and Washington have done to get their strong growth.

Las Vegas Housing Market Prices and Trends

Another Up Swing this Spring

Over the Last few months, whenever anybody would ask about the Market,

We said it had "flattened out".

Some thought this was a sign that the market was going to drop.

We maintained the Market still had a lot of room for recovery.

Over the last two months the market has Spring-ed into action.

Activity and Prices have both Jumped Up.

When you look around town, there are construction projects everywhere.

Within 5 miles of my home, I can think 5 new restaurants that recently opened.

These are positive signs and we are anticipating another year of strong equity growth.

Thanks Nevada Title and Chicago Title for Graphs and Data

Equity Growth Map by Zip Code - How did you do?

Last week the Las Vegas Review Journal had this Map on the front page.

This is always a fun one to look at.

But again, review with caution.

One or two Million dollar homes or a few Distressed Foreclosures can skew these numbers.

 It's better to look at the Valley as a whole. And generally speaking...

Las Vegas Metropolitan Area had a very good year of Equity Growth.

From 2012 -2013 we had close to 30% growth.

from 2013 -2014 it looks like close to 20% growth.

And my guess for this year is a more modest 10% Growth.

Off to a Slow Start... For how long?

  The New Year usually starts with a Surge of New Sales.

Not this year, even with the crazy low Interest Rates.

For Sellers, you might need to settle for your current level of Equity.

Buyers, Inventory is growing, Interest Rates are Low

and Prices aren't going up yet...

Las Vegas 

 

Henderson

N Las Vegas

Two Sides of the Same Coin...

Earlier this week Keith Lynam, the President of the GLVAR

The governing body over our local Realtor Association.

Gave a speech and then two different reporters used the same quote.

“January is typically a time when we see local home prices and sales slow down, so this month’s statistics are no surprise,” association President Keith Lynam said. “What’s more relevant to us is how we’re doing compared to the same time a year ago. Compared to last year, home prices are still rising, just at a more gradual pace than they did in the past few years.”

Below are the two Headlines and articles they wrote.

Is it any wonder why people don't have a good understanding of what is actually happening 

with our Real Estate Market.  Or any other issue the media "reports" on...

2015 Predictions - Opinions are like...

 Opinions are like Belly Buttons...

Everybody's got one!

But this guy is Paid to have His!

NAR Chief Economist Lawrence Yun makes a few predictions about 

The 2015 National Housing Market.  see Video Below.

It all sounds good to me. A Nice Steady Growth / Recovery.

note... 37% Increase in New Home Sales may seem like a Huge number.

It means if we had 100,000 New Homes built in 2014, he's predicting 137,000.