Las Vegas Real Estate Blog

Homeowner Equity Increases an Astonishing $1 Trillion

Homeowner_Equity_Increases_an_Astonishing_1_Trillion_in_2020In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings:

  1. U.S. homeowners with mortgages have seen their equity increase by a total of $1 trillion since the third quarter of 2019.
  2. The average homeowner gained approximately $17,000 in equity over the past year.
  3. This is a 10.8% increase in equity over last year.
  4. The average household with a mortgage now has $194,000 in home equity.

This has given many homeowners the ability to redesign their homes to meet their changing needs. Frank Martell, President and CEO of CoreLogic, explains in the report:

“The housing market has remained a strong pillar in an otherwise tumultuous economic year. A sharp rise in demand, spurred by record-low interest rates, continues to bolster homeowner equity. And with many people now spending more time than ever before at home, some homeowners have tapped into their strengthening equity to fund renovations.”

This build-up in equity also gives more options to homeowners who have been financially impacted by the pandemic. Today, homeowners with substantial equity are in a much better position to work out a deal with their lender if they cannot pay their mortgage. Alternatively, they also have the...

Winning as a Buyer in a Sellers’ Market [INFOGRAPHIC]

Winning as a Buyer in a Sellers’ Market INFOGRAPHIC SeeVegasHomesSome Highlights

  • Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle.
  • Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers.
  • Let’s connect to make sure you’re armed for victory in the housing market this season.
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With Las Vegas Home Values Rising, Is it Still Affordable to Buy Right Now?

Las Vegas Market States 11-30-20

Housing inventory is at an all-time low. Realtor.com just reported that there are 39% fewer homes for sale today than there were last year. At the same time, buyer demand remains strong. In a recent newsletter, research analyst Ivy Zelman explained:

“Although the headwind of severe supply constraints in most markets has contributed to slight moderation in seasonally-adjusted and year-over-year new pending contract growth for two consecutive months (albeit still growing strongly), the underlying strength of buyer demandparticularly for this time of year, remains apparent.”

Whenever there’s a shortage in the supply of an item that’s in high demand, the price of that item increases. That’s exactly what’s happening in the real estate market right now. As a result, home values are surging.

This is great news if you’re planning to sell your house. On the other hand, as either a first-time or repeat buyer, this may instead seem like troubling news. Purchasers, however, should realize that the price of a house is not as important as the monthly cost. Here’s how it breaks down.

There are several factors that influence the cost of a home. Two of the major ones are:

  1. The price of the home
  2. The mortgage rate at which a buyer can borrow the funds necessary to purchase the home

How do these...

New Construction Townhome Developments in North Las Vegas You’ll Want to See!

If you're looking for a new construction townhome in North Las Vegas this 2020, options and opportunities are pretty limited right now. But if it's truly new construction you're after, here's a quick idea of where you may want to begin your search...

Valley Vista

This new construction community offers a range of different townhomes from single story to two-story. Valley Vista sits just west of the master planned community Aliante and has quick access to the I-215 and tons of dining and shopping on North Decatur Blvd. We have helped over 5 homebuyers purchase a townhome in Valley Vista in 2020! From first-time homebuyers to VA military to retirees! You definitely don't want to miss out on the townhome offerings in Valley Vista

Groves at Saddlebrook

This neighborhood by KB Home features two-story townhomes, but it is also a part of the Villages at Tule Springs master planned community which features a mixture of single family homes and townhomes. Groves at Saddlebrook is just a quick commute for those working at the VA hospital on or Nellis AFB! 

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It Pays to Sell with a Real Estate Agent [INFOGRAPHIC]

It Pays to Sell with a Real Estate Agent [INFOGRAPHIC]

Some Highlights

  • Today, it’s more important than ever to have an expert you trust to guide you as you sell your house.
  • From your safety throughout the process to the complexity of negotiating the deal, you need a professional on your side.
  • Before you decide to take on the challenge of selling your house on your own, let’s connect to discuss your options.

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Las Vegas Homeowners who are ready to sell are in the driver’s seat

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Today’s housing market is a crash course in supply and demand. With high buyer interest and so few homes for sale in Las Vegas, homeowners who are ready to sell are in the driver’s seat. Inventory, however, is likely to begin to rebound going into 2021. Message us to learn about the advantage you have if you sell before your neighbors start to list their homes, which will create more choices for buyers.

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VA Home Loans: Helping Heroes Find a Home

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Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes.

As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being knowledgeable about what’s available and how they work may be a game-changer for many.

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This Fall's Record Low Mortgage Rates are Not Guaranteed to Last

This Fall's Record Low Mortgage Rates are Not Guaranteed to Last

If your current home no longer suits your needs, today’s record-low interest rates mean you may be able to make a move now and stretch your dollar a little further. This is a huge opportunity to get more for your money in the housing market. Message us today to make sure we can find your dream home before mortgage rates start to rise.

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Making a Home for the Brave Possible

Making a Home for the Brave Possible SeeVegasHomes

Some Highlights

  • VA Home Loans provide unique opportunities for Veterans, active-duty personnel, and their families in recognition of their service to our Nation.
  • For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality.
  • If you or someone you know may benefit from a VA Loan, let’s connect to answer your questions today.
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Las Vegas Houses Are Flying Off The Market

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Compared to last year’s fall season, Las Vegas homes for sale are pretty much flying off the market at a record-breaking pace. This isn’t just a good time to sell your house – it is THE time to sell it. Message us to learn how you can win in today’s sellers’ market.

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Three Ways Low Inventory in Las Vegas Is a Win for Sellers

Las_Vegas_Monthly_Market_Stats_10-26-20.jpgThe number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

When the demand for homes is higher than what’s available for sale, it’s a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights Report...

Don't Miss Out on Current Record-Low Interest Rates

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We’ve all felt #FOMO about seeing the latest movie or catching the latest Internet trend, but you shouldn’t have that Fear Of Missing Out when it comes to real estate. Today’s record-low interest rates are making homes affordable, which is great news for buyers looking to get as much home for their money as possible. Message us today to get started on the path to homeownership while interest rates are still so low.

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Should I Renovate My House Before I Sell It? [INFOGRAPHIC]

Should I Renovate My House Before I Sell It? INFOGRAPHIC

Some Highlights

  • In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.
  • With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house.
  • If you’re ready to move, let’s connect to determine your best next steps in this sellers’ market.
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How Down Payment Assistance Opens the Door to Homeownership

How_Down_Payment_Assistance_Opens_the_Door_to_Homeownership_in_Las_Vegas_

Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.

On top of that, the same survey reports over two-thirds of prospective homebuyers believe they’ll need assistance to save enough for a down payment. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for potential buyers. Down Payment Resources recently released its Q3 2020 Homeownership Program Index, which...

Thinking of Moving? [INFOGRAPHIC]

Thinking of Moving Buy brand new INFOGRAPHIC

Some Highlights

  • If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you?
  • New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs.
  • Let’s connect today to discuss how to sell your house while buyer demand is high and find you a new home to call your own while you’re at it.
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Should You Buy a Retirement Home Sooner Rather than Later?

Should You Buy a Retirement Home Sooner Rather than Later?

Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed.

Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I retire? If the sand and sun are calling your name and you have the opportunity to work remotely for the foreseeable future, now may be a great time to purchase that beach bungalow you’ve always dreamed of or the single-story home in the sprawling countryside that might be a little further out of town. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), ...

A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market.

Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready.

The gap between owning and renting

Owning a home is a great way to build family wealth.

For many families, homeownership serves as a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the ...

Rising Home Equity Can Power Your Next Move

Rising Home Equity Can Power Your Next Move SeeVegasHomes

Some Highlights

  • According to CoreLogic, homeowners across the country are gaining significant equity.
  • Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth.
  • If you’re ready to sell your house and begin looking for your dream home, let’s connect to plan how your equity can make that possible.
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Buyers Are Finding More Space in the Luxury Home Market

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A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.

The Institute for Luxury Home Marketing (ILHM) explains:

“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.”

This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes:

“Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few...