Author: anthonylasvegas

New home sales and permits soared last month in Las Vegas while closing prices slipped.The Las Vegas Valley had 591 new home sales in September, according to a report this week from Home Builders Research. That’s up 46 percent from 405 sales in September 2011.

via Las Vegas new housing boom – VEGAS INC.

Builder confidence inched slightly higher in October, bringing it to its strongest level since June of 2006, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The October gain also marks the sixth consecutive month for increases in the index, which measures builder confidence about the direction of the new-home market.

via Homebuilders Grow More Confident About Recovery | Realtor Magazine.

Las Vegas’ housing supply shrunk rapidly this past year as cash investors bought homes in bulk so they could rent them out.Homes listed for sale in the valley fell by 35 percent during the year ending Sept. 30, according to a report today from Seattle-based Zillow. In the “bottom tier” of pricing, where first-time buyers typically try to find a house, inventory shrunk by nearly 38 percent.The “middle tier” inventory shrunk by 39 percent, while the “upper tier” decreased by 30 percent. Zillow did not provide price ranges for the tiers.Housing inventory fell nationally by 19 percent, including 15 percent in the bottom tier and 22 percent in the upper tier.Cash investors, often from Southern California or Phoenix, have been buying large numbers of cheap homes in the Las Vegas area — usually ones that plunged in value in recent years — and renting them out.

via Investors take big bite out of Las Vegas housing supply – VEGAS INC.

Allure Las Vegas Condo Third Quarter Market Report for 2012

Allure Las Vegas sold 13 residences in the 3^rd quarter of 2012 with an average sale price of $211,269 and days on market of 60, and there are currently 28 condos on the market with $139,900 being the lowest priced condo currently available.

Allure condo rentals averaged $1439 per month with an average of 53 days to find a tenant.

For Las Vegas Condo Investment data, please visit: http://www.mylvcondosales.com/investments/

Anthony Phillips

http://www.mylvcondosales.com

http://www.facebook.com/LasVegasCondos

Many home owners think their home is worth a lot more than it really is, according to HomeGain’s third quarter 2012 National Home Values Survey Results of 300 real estate agents.

Seventy-seven percent of sellers say their home is worth more than their real estate agents’ recommended selling price.

Some home owners are overestimating the value of their home by up to 20 percent. Nearly 40 percent of real estate agents surveyed say that home owners believe their home is 10 to 20 percent higher than it really is, with another 40 percent reporting overestimates of 1 to 9 percent. Only about six percent of home owners underestimate the value of their home, believing it to be worth less.

via Most Sellers Estimate Home Value Well Above Recommended Listing Price | Realtor Magazine.