Robert Adams…, Real Estate Pro in Las Vegas, NV

Las Vegas Market going through changes

Asked by Robert Adams Broker NV, RI, MA, Las Vegas, NV Mon Jun 17, 2013

I am interested to hear people thoughts on the Las Vegas market.

We have many new factors to consider when predicting the market in the upcoming future. Some of the topics I was looking to get more info on are:

-New legislation passed here in NV AB300, SB321, also the new law that will allow underwater homeowners to short sell their homes to themselves without an "arms-length" transaction disclosure being required.

-Hedge funds leaving Vegas

-New/higher home prices combined with lower rental rates causing lower CAP rates and cash flow

-The 80,000 homeowners that are in default

-The spike in NOD's being filed (Las Vegas is currently the 2nd leading city for NOD's being filed.

These are just a few of the factors our local market is currently facing.

If you would like to discuss the market further please feel free to contact me directly anytime!

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
http://www.LVrealestateHELP.com

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Answers

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Jimmy Balsano’s answer
Hi Robert

I agree in what you are saying, in addition the National Mortgage Assoc last month reported that we lead the country in 90 day delinquency. The Housewire Report had a article earlier this month that investor's are starting to easy up on buying properties because of rising prices. I believe that prices will start to stabilize in the fall and a increase in inventory. I don't think we will have the problem of 2006 to 2009 because 50 to 60% of the transactions have been for the last couple of years.

Thanks
Jimmy Balsano
Realty One Group
702-281-2225
Fax 1-866-371-8421
Email: jimbalsano@gmail.com

I KNOW LAS VEGAS AND HAVE FOR 40 YEARS
http://www.jimmybalsano.com
http://www.salestraq.com/las_vegas/newhomesearch/index.cfm?id=4780(New homes)
0 votes Thank Flag Link Tue Jun 18, 2013
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