Tuesday, December 4, 2018 / by Geoffrey Zahler
Greetings and Happy December,
We had an interesting month. The Median Sales Price actually dropped from October, but is still about 12% higher than it was this time last year. This is showing that the growth has started to decelerate a bit. We are still anticipating a positive 2019, but signs are indicating it will be a less aggressive positive push forward. Below are some of the stats with our commentary!
Reminder: This is Single Family Residences ONLY as reported through our MLS System, which does include some new home construction (but not all).
Median Sales $295,000 - +11.7% YOY (Down from last month)
Average $341,600 - +9.1% YOY (Down from last month)
Our Median Sales as I mentioned are up over Double Digits, and strong. The average, which tends to fluctuate more than Median, is also up close to 10% Year over year, but for the first time in a while, both were DOWN from the previous month. We tend to focus more on trends, but it is in ...
Wednesday, November 14, 2018 / by Geoffrey Zahler
No one decides to sell a home, and then is excited when it doesn't sell. I mean, that's not rocket science level thinking, right? But the harsh reality, at least in the last 10.5 months, is that roughly 1 in 5 single family homes here in Las Vegas that was listed for sale, either expired, or was withdrawn. That seems high, right? I mean, 1 in 5? We have 5 fingers on each hand. That's like looking at your left hand and wondering which one of those fingers would be removed...
But, it doesn't have to be like this. I promise.
In the first 318 days of this year (January 1 - November 14), there have been 29,074 Single Family Residences SOLD in our MLS system. That's pacing more than 3,000 per month! Our market is up over 10% for the year, across the board, in terms of values. Yet, in the last 318 days we have had 3,369 home listings EXPIRE, and another 4,254 listings Withdrawn. Now, before you dig into the numbers to try ande ...
Wednesday, June 13, 2018 / by Geoffrey Zahler
If you're thinking about selling your home, and you're living in the property, there are a few items that will help you get your home ready for sale, and remain "sale ready" throughout the showings. We compiled a small list of 5 important items to incorporate when selling your home.
1. De-Clutter your Home
Many people "collect" things while living in a home. Eventually, personal items sometimes can overtake a living space, and cause gridlock in the flow of your floorplan. While personal items are great, and a reminder of the life you've lived in that home, too many personal items can be a distraction to a potential buyer. By thinning out your personal items, a buyer will be better able to concentrate on the home, and not Aunt Edna's "Coo-Coo Clock" that is in dire need of a tuneup. If you're planning on selling, you'll have to pack items up eventually, so it may be a good idea to get a jumpstart on some items!
2. Replace Lightbulbs
This one is simple.&r ...
Wednesday, December 20, 2017 / by Geoffrey Zahler
It's that time of year... to make bold, bodacious, easy, and crazy predictions for 2018. These are taken from the Facebook Live we did on 12/20/2018. Want to watch the video instead... I won't take offense: 2018 Bold Predictions - FB Live Video
Las Vegas Market Statistics Predictions:
For 2016, there were a total of 41,107 units (single family, multi-family, townhomes, condos) sold!
For 2017, through 11 months, we are already at 41,141
For 2018 - I am predicting 49,000 units sold!
Median Days on Market
In 2017, we are sitting currently at 15 Days on Market
I think 2018 will be slightly slower, but still predicting the Median Days on Market to be 18 Days
This is for the Total amount of all sales recorded through the MLS
In 2017 we are on pace for just under $12,000,000 (That's 12 Billion)
For 2018, I anticipate us hitting a mark of $13,250,000! (13.25 Billion Dollars)
Median Sales Price for All Units (including Townhomes, Condos, f ...
Wednesday, December 13, 2017 / by Geoffrey Zahler
We just did a "ZP" Live on Facebook that covers this topic, so if you want to hear me ramble on camera - check out the YouTube Channel and the link here: ZPLive Episode 21 - Tax Reform Bill
**Disclaimer: I'm not a tax professional - you'll hear me say this a ton in the video and below**
So - Taxes - no one likes to pay them, and everyone is afraid of them now, but realistically, even if the Tax Reform is passed, it may not have the same impact on us here in the Las Vegas area as it does in other high cost areas.
Currently, if you live in your home as a Primary Residence for 2 of the last 5 years, when it's time to sell, you will be able to sell and NOT pay any taxes on your Capital Gains, up to $250,000 of gains for a Single Filer, or $500,000 if you're married and file jointly. That's not the TAX break, that's the amount of gains you would be protected from. For instance, with very simple math, if you bought a home for $500,000 and soldr ...