Las Vegas Real Estate Blog

Guidance and Support Are Key When Buying Your First Home

In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR):

“The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending higher than the 29% to 32% average in past years since 2012.” (See graph below):

Percentage of First Time Homebuyers June 2020

Why the rise in first-time homebuying?

NAR continues to say:

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A Real Estate Pro Is More Helpful Now than Ever [INFOGRAPHIC]

A Real Estate Pro Is More Helpful Now in Pandemic

Some Highlights

  • A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis.
  • Expertise and professionalism are highly valued and can save buyers and sellers time and effort along the way.
  • If you’re thinking of buying or selling a home this year, let’s connect to be sure you have a...

Home Sales Hit a Record-Setting Rebound

With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.

According to NARhome sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million...

Mortgage Rates Fall Below 3% [INFOGRAPHIC]

Mortgage_Rates_Fall_Below_3percent_July_2020

Some Highlights

  • Mortgage rates hit another all-time low, falling below 3% this week.
  • If you’re ready to buy a home, now is a great time to truly get more for your money at this historic moment.
  • Let’s connect today to determine your best next steps toward homeownership.
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Clark County CARES Housing Assistance Program

Here is a new resource that was just released for Clark County (Southern Nevada) renters and homeowners affected financially by COVID-19. 

The CARES Housing Assistance Program (CHAP) provides rent, mortgage, and utility assistance to residents who have suffered financial hardship due to COVID-19 and now lack sufficient income or resources to pay their housing cost. To see if you qualify, visit: 

Clark County CARES Program

Clark County Cares Housing Assistance Program

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks

Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):

What does this mean for buyers?

This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie...

Best Time to Sell? When Competition Is at an All-Time Low

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.

The latest ...

Freddie Mac Forecasts The 30-Year Fixed-Rate Mortgage Will Fall | June 2020

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According to Freddie Mac, near-record low interest rates are forecasted to stick around into next year. Message us to learn how this is great news for you if you’re ready to buy a home.

Jasmine Bega
REALTOR ® | Urban Nest Realty
Broker Salesperson Lic 0143185
m:702-417-0884
e: [email protected]
w: www.SeeVegasHomes.com

#mortgagerate #purchasingpower #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #staycurrent #powerfuldecisions #confidentdecisions

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A Historic Rebound for the Housing Market During Covid Summer 2020

A Historic Rebound for the Housing Market During Covid Summer 2020

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?

According to NAR, the Pending Home Sales Index (PHS) is:

“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes...