mndavila, Home Buyer in White Plains, NY

Are the property prices decreasing?

Asked by mndavila, White Plains, NY Wed May 30, 2012

Las Vegas ZC 89119 and zc 89101?

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Answers

16
Median & average prices were up +4 & +4.9 respectively from March 2012-April 2012. My web reference attached is the Greater Las Vegas Association research numbers so you can see how inventory has declined -28.4 % yourself!
0 votes Thank Flag Link Thu May 31, 2012
Please, there is NOT a shortage of homes for sale in Las Vegas. Everything is for sale at a PRICE. When there is a shortage, prices go up. As an investor, I am looking for appreciation as well as cash flow so I can increase my net worth.

The Las Vegas market still has homes where there is positive cash flow, not as much as a few months ago, but good enough to make it a better investment than Facebook IPO.


David Cooper Investor with a Buyers Agent License at Since 1917 Realty 702-499-7037
0 votes Thank Flag Link Thu May 31, 2012
In Northeast OH, our market has stabilized. Currently, we have a shortage of homes for sale in every price range. We have Buyers who are looking for homes to buy in Cleveland suburbs that they had not yet considered. Sellers, if you are ready to sell, put your home on the market.
0 votes Thank Flag Link Thu May 31, 2012
It has been my experience that, homes listed for 120,000 and under, are not decreasing. Often times they sell for over list price. Homes in the over $160,000 often sell for under list price. It depends on the area, also.
0 votes Thank Flag Link Thu May 31, 2012
Dear mndavila. I hope you are NOT getting your "decreasing" price info from the Case-Schiller Index which reports March Price Data on May 25. That's 2 months old, and totally worthless. The facts are investors are scooping anything under $150,000 because they can get rent above all costs, positive cash flow.

There is never a shortage, if you are willing to pay the price, but then you have to consider the cost to csrry. As an active investor with 35 years in Las Vegas, I consider the 2 zip codes you asked about to be just OK for cash flow and future appreciation.

Call me if you want a second opinion on where I would put my money. I guarantee you will do better than the Facebook IPO.

David Cooper Investor with a Buyers Agent License at Since 1917 Realty 702-499-7037
0 votes Thank Flag Link Thu May 31, 2012
Yes, property prices have been increasing since end of 2011, and on an avg. of 2 to 3% per month since Jan. It is because of the large number of investors paying cash for investment homes and owner occupied buyers looking to take advantage of low prices and low interest rates. If you are a serious buyer the key to get the home you want is to work closely with a very experienced real estate agent like my wife and I and be available to view homes the day they come out and write an offer asap if you like home. We have a number of other sources for available homes which we can discuss with you if you call or write. We specialize working with buyers/investors and renters. We are property management company and manage over 350 properties with only 13 vacencies. Feel free to use our web site which gives you access to the MLS current listings untill we can create a custom search for you. Thanks, Matt and Kim

Matthew and Kim D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Wed May 30, 2012
Hi there mndavilia,

Here are some handy property price breakdowns for the zip codes you mentioned. It looks as though the property prices are actually increasing, on average, as you can see here:

89119:
http://www.trulia.com/real_estate/89119-Las_Vegas/

89101:
http://www.trulia.com/real_estate/89101-Las_Vegas/

If I can help with anything else, let me know!

Andrew
Community Manager, Trulia Voices
0 votes Thank Flag Link Wed May 30, 2012
We have a major supply and demand issue right now in the Las Vegas Market. We only have 3801 single family homes for sale in Las Vegas, 3879 if you count Boulder City and we have about 3084 of those homes selling a month. What this means, is we have about a Month supply of homes on market. Which means we are in a Super Sellers market.

We are starting to see the effects of this on the market by having multiple offer situations on properties. Even on Short Sales, because of the lack of inventory. Buyers are starting to pay over list price and sometimes over appraised value and with 54% of the buyers paying CASH. Which is making prices increase. The main people being effected by this are First Time Homebuyers using FHA loans to get into a home, or the people that do not have enough cash reserves to afford to pay their down payment and their own closing costs. So, to say the least we are in very competitive market for Buyers. Which makes it great for HomeSellers.

If you are a HomeBuyer! It's time to get in the game.

Best regards,

Chris Harrison
Barrett & Co., Inc.
2885 S. Jones Blvd
Las Vegas, NV 89146
(702) 592-9510 ph
Chris.Harrison@msn.com
0 votes Thank Flag Link Wed May 30, 2012
Prices are going up or about to go up in Las Vegas. the decreasing market here is over. If you would like ot meet at my office or just have a phone discussion on the market here we can help answer all of your questions. Please don't hesitate to contact me.

Best Regards,
Robert Adams
Broker/Salesman
LVrealestateHELP Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Wed May 30, 2012
No, property prices are not decreasing in Las Vegas. There is a shortage of homes on the active market currently, which makes the prices increase. This could be temporary, it is not easy to predict. Great question! Raina Musser
0 votes Thank Flag Link Wed May 30, 2012
On the contrary, Las Vegas, NV home prices are increasing right now.
0 votes Thank Flag Link Wed May 30, 2012
No, property prices are not decreasing. In fact, right now it is a Seller's market. The current inventory of homes for sale is very very low and now is the time to put your home on the market. We are experiencing many many multiple offers on the same property and many Buyers are going way over the list price of the home and paying the difference out-of-pocket if the property does not appraise for the purchase price. Becky Zisk
0 votes Thank Flag Link Wed May 30, 2012
Property prices in Las Vegas are, in fact, INCREASING. I am sure all the sellers or "potential sellers" out there are happy to hear that! The market has flipped from being a buyer's market to a seller's market. Homes priced for $200 and under are getting many offers and sellers can choose the one they want. It is very difficult to get a home in that pricerange right now unless you go 25 miles from the center of the city or you are age-group 55+ and able to purchase in a senior community. By the time the news and the internet get around to understandinging the flip in the market, you will find that prices will again be out of most people's reach. The best time to buy is NOW. While it may not be the best time to sell, it is a better time than before. Myra Gouger / REALTOR / Realty ONE Group / 702-858-9311 / myra_gouger@yahoo.com / http://las.mlxchange.com
0 votes Thank Flag Link Wed May 30, 2012
White Plains, NY! I have a number of past clients from your area....to your question.....the oldest saying in the real estate world - - location, location, location.....Las Vegas is a very diverse real estate market....in some areas, prices are up - other areas, prices are down, and other areas, prices are holding...are you specifically looking in those zip code areas? Find the agent that meets your needs and have them fine-tune your search.
Best of Luck! KL
KarenLotter
Realty One Group, Las Vegas
10750 West Charleston
Las Vegas, NV 89135
Direct: 702-239-3001
karenlotter@cox.net
0 votes Thank Flag Link Wed May 30, 2012
We are experiencing an increase in prices.
Why? Because as of today there are only 3878 single family homes on the market as opposed to 14000 on the market at this time last year.
But, prices are still at 1996 levels and the yesterday fha rates with 3.5% down were at 3.75%.
So the key is to work with an agent that can help you find the right home and win.
We are that team of agents-
Ask for our pre list of properties- homes that are not yet on the market, but soon will be.

Provide us with your criteria-
price range
style of home- (condo, townhome, Single family)
Area - we can send you the list of 89119 or 89101
time frame- (when do you want to be in a home)
financing or cash buyer?
and an important question -
will you be buying the home as a primary residence or are you an investor?

text, email or call us- go to our site and register- and we can help
Paul May
Web Reference: http://www.mayteamlv.com
0 votes Thank Flag Link Wed May 30, 2012
Hello mndavila,

unfortunetely not . . prices are getting slowly stable and in some areas they slightly increased . .
There are lots of offers bidding now on properties, especialy the range from around $190K below.
If you're looking for something certain, you can provide me your email address and I'll forward you
the property listings results . . per your criterias, like area you wish to find, min bdrs, min sqft, what
price you're looking for, what type of purchase, cash or loan, etc. . .
I'll be glad to help you if you're interested in finding and purchasing a property which i can assist . .
My contact info is below;

Warmest regards,

DENNY HEBIBOVICH - REALTOR
REALTY ONE GROUP, INC.
CELL: 702-241-6110
EMAIL: Denny@PropertiesofLasVegas.com
WEB: http://www.PropertiesofLasVegas.com
WEB: http://www.IMMOBEL.com/LasVegasNevadaUSA/
WEB: http://awp208099.las.mlxchange.com
0 votes Thank Flag Link Wed May 30, 2012
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