Another Sign That VEGAS Home Prices Have Hit Bottom
Another Sign That VEGAS Home Prices Have Hit Bottom
The median sales prices for Single Family Residential continues an upward movement increasing each month since the beginning of 2012
Single Family Residential Sales are averaging approximately 3100 closed sales per month since the beginning of 2012
In 2012 Short Sales are averaging more closings followed closely by traditional sales, bank owned sales contiue to decrease due to lack of bank owned inventory.
A REALTOR® can give you up-to-date information on what is happening your local marketplace and the price, financing, terms and condition of competing properties.
For information on choosing and using a REALTOR®, click here.
Lawrence Yun, NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," Yun said.
Limited inventory is constraining market activity. "All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage," Yun added.Read Full Story
1. Ground cover. Just like an area rug inside, an outdoor rug helps to define a sitting area and helps warm up cold concrete. Shop end-of-summer sales for the best deals.
2. Furniture. Whether it's a pair of armchairs, a loveseat, or a sectional sofa, make sure the furniture is made for all-weather wear. Cushions - the thicker the better - add comfort.
3. Acrylic throws. Perfect to use outside, acrylic throws are warm and cozy but also machine washable. Roll up your throws and place them in a basket near the back door so it's easy to grab one to cover up.
4. Decorative touches. Candles work well outside; if it tends to be windy where you live, think about lanterns that help protect the flame or use LED flameless candles. Display pinecones in a wire basket and scatter leaves (real or faux) on a tabletop. (Hint: Keep the leaves in place with a bit of double-sided tape.)
5. Firepit. A firepit is the outdoor equivalent to a fireplace inside your home and instantly become a gathering spot. Built-in gas firepits are convenient, but if you don't have a spare gas line handy, many wood-burning options may be found in the $80-$200 range at home improvement stores and national retailers, or online at overstock.com. (Always be sure to follow applicable fire codes and HOA rules when using an outdoor fire appliance.)
Daily Real Estate News | Monday, September 10, 2012
Economists are increasingly confident that home prices have bottomed out.
For the last three years, home prices have usually risen in the spring and summer to only then lose all of those increases - plus more - in the fall and winter months. However, economists expect this year to be different and do not foresee such a big drop to occur to home prices in the colder months ahead, The Wall Street Journal reports.
While the fall months likely will bring out some sort of decrease in recent home price increases, "we have a much better supply and demand dynamic" than in previous years, Mark Fleming, CoreLogic's chief economist, told The Wall Street Journal.
Home prices have posted some of their largest year-over-year jumps compared to the last six years. According to CoreLogic, home prices have risen 9.6 percent from February, which was the month prices reached their lowest levels since the housing slowdown. Economists say it's unlikely that, given recent indicators, home prices will reverse course steeply and fall 9.6 percent or even more in the coming months. Home prices haven't dropped by that type of percentage since the economy was in a recession.
Source: "Here's More Evidence That Home Prices Have Hit Bottom," The Wall Street Journal (Sept. 4, 2012)
Economists are increasingly confident that home prices have bottomed out.
For the last three years, home prices have usually risen in the spring and summer to only then lose all of those increases - plus more - in the fall and winter months. However, economists expect this year to be different and do not foresee such a big drop to occur to home prices in the colder months ahead, The Wall Street Journal reports.
While the fall months likely will bring out some sort of decrease in recent home price increases, "we have a much better supply and demand dynamic" than in previous years, Mark Fleming, CoreLogic's chief economist, told The Wall Street Journal.
Home prices have posted some of their largest year-over-year jumps compared to the last six years. According to CoreLogic, home prices have risen 9.6 percent from February, which was the month prices reached their lowest levels since the housing slowdown. Economists say it's unlikely that, given recent indicators, home prices will reverse course steeply and fall 9.6 percent or even more in the coming months. Home prices haven't dropped by that type of percentage since the economy was in a recession.
Source: "Here's More Evidence That Home Prices Have Hit Bottom," The Wall Street Journal (Sept. 4, 2012)
August Sales Statistics
The median sales prices for Single Family Residential continues an upward movement increasing each month since the beginning of 2012
Single Family Residential Sales are averaging approximately 3100 closed sales per month since the beginning of 2012
In 2012 Short Sales are averaging more closings followed closely by traditional sales, bank owned sales contiue to decrease due to lack of bank owned inventory.
Email me at 168lasvegas@gmail.com or call me at (702) 334-7767 for more information regarding the market.
 Brought to you by... Ramon C. Wu O'Harmony Realty LLC (702) 334-7767 Click for Website Click to Email |
Why Use a REALTOR®?
The REALTOR® mark shows that your real estate agent is a member of the National Association of REALTORS® and adheres to a strict Code of Ethics. There are many reasons to use a REALTOR® to help you buy or sell a home. Here's one:A REALTOR® can give you up-to-date information on what is happening your local marketplace and the price, financing, terms and condition of competing properties.
For information on choosing and using a REALTOR®, click here.
July Pending Home Sales Rebound
Lawrence Yun, NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," Yun said.
Limited inventory is constraining market activity. "All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage," Yun added.Read Full Story
5 Tips to Create an Outdoor Room
Autumn is the perfect time to enjoy the evening outside; the air is crisp and cool. There are a few comforts that can add to your enjoyment and extend the usable life of your porch, patio, or balcony. The key is to think of your outdoor space like any room in your home.1. Ground cover. Just like an area rug inside, an outdoor rug helps to define a sitting area and helps warm up cold concrete. Shop end-of-summer sales for the best deals.
2. Furniture. Whether it's a pair of armchairs, a loveseat, or a sectional sofa, make sure the furniture is made for all-weather wear. Cushions - the thicker the better - add comfort.
3. Acrylic throws. Perfect to use outside, acrylic throws are warm and cozy but also machine washable. Roll up your throws and place them in a basket near the back door so it's easy to grab one to cover up.
4. Decorative touches. Candles work well outside; if it tends to be windy where you live, think about lanterns that help protect the flame or use LED flameless candles. Display pinecones in a wire basket and scatter leaves (real or faux) on a tabletop. (Hint: Keep the leaves in place with a bit of double-sided tape.)
5. Firepit. A firepit is the outdoor equivalent to a fireplace inside your home and instantly become a gathering spot. Built-in gas firepits are convenient, but if you don't have a spare gas line handy, many wood-burning options may be found in the $80-$200 range at home improvement stores and national retailers, or online at overstock.com. (Always be sure to follow applicable fire codes and HOA rules when using an outdoor fire appliance.)
Mortgage Calculator
.png)
