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LAS VEGAS VALLEY STILL UNDERVALUED HOMES

By Lisa Lundt on May 16th, 2013
The real estate website Trulia is reporting that homes in Las Vegas remain undervalued by 24 percent, despite price increases over the past year, the lowest in the nation, even topping Detroit, which is in second place at 23 percent undervalued. This number is obtained by comparing current pricing to historical prices, incomes and rents. ... [Continue Reading]
The winds of change are a blowin’

The winds of change are a blowin’

By Lisa Lundt on April 17th, 2013
Wow, it is amazing how quickly things can change! It seems like only yesterday when Nevada made news as one of the worst-hit real estate markets. Real estate data collector CoreLogic recently released a report on nation-wide real estate trends, and Nevada was the TOP STATE for the highest home appreciation! Not only were we ... [Continue Reading]

Real estate statistics; it’s not always that simple

By Lisa Lundt on March 18th, 2013
You might have seen the recently run story on MSN.com, “Housing recovery boom, bust states”. This top 5 list of best and worst states for market recovery awards Nevada the dubious honor of #1 “bust” state. The criteria for rankings on these lists are the number of delinquent mortgages, foreclosures, and the number of mortgages ... [Continue Reading]
Where Have All the Houses Gone?

Where Have All the Houses Gone?

By Lisa Lundt on February 11th, 2013
The residential real estate market in Las Vegas has changed phenomenally in the last 13 months.  As shown on the chart below, in January, 2012, the median sales price was $118,694.  This means that half of the 2866 sales that month were above $118,694 and the other half were below that price.  Of those sales, ... [Continue Reading]

Nevada #3 in Nation For Most New Move Ins

By Lisa Lundt on February 7th, 2013
The DAILY REAL ESTATE NEWS has published an article on the top places people are moving to in the United States. The place with the highest number of people moving in rather than leaving: Washington, D.C., according to a new report by the moving company United Van Lines. “Corporations have been steadily expanding in Washington, ... [Continue Reading]

Do Banks Want to Foreclose???

By Lisa Lundt on January 17th, 2013
Foreclosure Radar, a company which tracks foreclosure filings, has announced the year end numbers for Clark County.  Foreclosures in Clark County have decreased by 57 percent between December 2011 and December 2012.  Homes actually owned by a bank have decreased by over 60 percent.  Here are the numbers provided by Foreclosure Radar for Clark County. ... [Continue Reading]

2012 Market Round Up

By Lisa Lundt on January 15th, 2013
The Greater Las Vegas Association of Realtors has published their year end statistics for single family home sales and they are eye opening. December                    Annual change Available listings                                 14,601                               -24.1 percent Median list price                             $145,000                                12.8 percent Listings without offers                        3,688                                -58.2 percent New listings                                           2,174                                 -31.7 percent Units sold                                               2,961                                -14.3 ... [Continue Reading]

December Market Update

By Lisa Lundt on November 23rd, 2012
The Las Vegas housing market appears to be stabilizing.  Existing home sales are down a little, but this is due to the lack of inventory.  Prices on these sales have increased, with the median sales price $130,000.  Last year it was $110,000.  It is important to remember, though, that our houses have been under priced ... [Continue Reading]

Stop Making Mortgage Payments and Buy a Car?

By Lisa Lundt on October 25th, 2012
On Sunday the Review Journal published an article about taxable sales being up in Clark County, even with the high unemployment rates and lower than normal spending by tourists.  So, what explains this increase in spending on consumer goods?  Some analysts speculate it is due to people not paying their mortgages and having a lot ... [Continue Reading]

Principal Reductions Increase

By Lisa Lundt on October 22nd, 2012
In previous blog posts, we have discussed the Nevada Hardest Hit Fund, which was established with funds from the attorney general’s settlement with the largest banks for foreclosure irregularities.  It is now possible to quantify the assistance the Fund has provided.  The Review Journal has reported that nearly $17 million has been paid out through ... [Continue Reading]
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