1557 Broken Bell Lane, Henderson, NV 89002
This four bedroom, 2.5 bath single family home is located in the Twilight at Old Vegas Ranch community in Henderson, NV 89002. This home is currently listed for sale for $449,000.
Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison.
Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with an incredible opportunity. Here’s what they have to say:
Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of today’s rates:
“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time.”
Mark Fleming, Chief Economist at First American, talks about how rates impact a buyer’s bottom line:
“Mortgage rates are generally the same across the country, so a decline in mortgage rates boosts affordability equally in each market.”
8196 Merlewood Avenue, Las Vegas, NV 89117
This four bedroom, four bath single story home is located in the Meridian community in Las Vegas, NV 89117. This home is currently listed for sale for $650,000.
200 W. Sahara #703, Las Vegas, NV 89102
This one bedroom, one bath high-rise condo is located in Allure Las Vegas at 200 W Sahara Avenue, Las Vegas, NV 89102. This condo is currently listed for sale for $239,999.
It’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option.
In fact, trends indicate condos are gaining popularity among buyers. In the latest Existing Homes Sales Report from the National Association of Realtors (NAR), the data shows condo sales rising throughout the first half of this year (see graph below):
There are a few reasons more and more people are opting to buy condos – the benefits of condo life can be quite compelling. Let’s explore the main perks to find out if a condo is a good fit for you.
As of July 2021, the median sales price of a condo or townhome in Las Vegas is roughly $180,750 less than the median price of a single-family detached home (see graph below). This makes condos a great option for first-time homebuyers, those with limited down payment savings, or those looking to save money by...