I can only put one word for the real estate market....INTERESTING!
AS an active Broker/Salesman for over 15 years , licensed in two countries and doing business internationally, I travel between countries and connecting with many buyers and sellers from all over the world who come to U.S.A to invest in real estate.
The market has been shifting and constantly changing not only at home, but also in other countries because of the world economy that is effecting the real estate market. Some countries like Canada, China, India, Philippines and Israel are experiencing wealth and growth and see an opportunity to invest in the U.S.A . They come to United States to cash purchase investment properties with positive return and by doing so help the real estate market.
In Las Vegas, the prices have increase between 30% to 40% since 2012 and we see more new homes and constructions all over.
As far as the local buyers, its a great time to purchase since the interest rate are SO LOW ( as low as 3.5%) and first time home buyers with steady job can purchase only with the minimum FHA down payment of 3.5%.
As for the SELLERS, the market is defiantly a seller's market and we see less short sales and less bank owned properties from the previous three years. More equity transactions and sellers that makes it more pleasurable to deal with .
I don't know what the future will bring, BUT I do know that throughout history, Real Estate market always prevail and is the best and safest investment for the long run. I also suspect that the low interest rate and still affordable home prices ( average single family home in Las Vegas is
$ 187,000 only) will soon increase again and interest rate will go up .
For detailed market conditions by zip code and to see the top 10 countries that are investing in Las Vegas, contact me at 702-992-7754 or email Cvegashomes@gmail.com
Connecting global wealth with global people!
Certified International Property Specialist
Global Business Council
Licensed in U.S.A/Nevada and Israel
Realty Executives International
As a lender we actually offer down payment of assistance of 3% and go down to 500 credit score.
We are the fourth largest servicer of FHA loans on the west coast of the country.
WE retain 50% of the loans we write and make exceptions that others cant.
Michael R Diaz
The agents who have survived the depressed housing market of short sale options/foreclosures will continue to grow and probably thrive moreso than the majority. For those of us who've been in the field for years and kept our businesses moving, this year has been a piece of cake in comparison. I like the word "multi-dimensional," because it truly encompasses the challenges of buying and selling real estate. It feels good to climb out of the trenches...at least for awhile and until the next wave. The past markets have prepared me for anything.
Many real estate companies are in process of restructuring because most methods used/taught to obtain business are outdated and make little sense to today's sellers and buyers. I've seen more recent agent posts asking how to obtain business than I have ever seen in the time I've been in industry. In my opinion those who are just getting in to real estate will be inundated with challenges right out of the gate. Survival will depend on how easily and fast an agent can adapt and shift through the many unknowns of the business. Thanks again for the post.
Any of three dominating markets will result from the current confusion and coming changes. Which one will assert in any area is unknown, but the real estate professional will need to be able to dance to the fidder's tune what ever it may be.
Some agents will have option four. The day job.
My suggestion to agents who would prefer not to opt for option four, is to restructure their business around the only four things people EVER buy and every major marketer selling every conceivable product and service uses.
From that understanding, those who remain ast real estate professionals, will, by necessity, become mulit-dimensional and real master craftsmen as transaction architects. This will prove incompatible with many corporate structured organizations.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Real Estate will remain the same. If it's a value people will want it. If not it will stay on the market.
If you would like to discuss a specific property please feel free to call me.
Signature Real Estate Group