Thursday, September 3, 2020 / by Lisa Rush-Diaz
It’s Not Just About the Price of the Home
When most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what else impacts the purchase. It’s not just the price of the house that matters, but the overall cost in the long run. Today, that’s largely impacted by low mortgage rates. Low rates are actually making homes more affordable now than at any time since 2016, and here’s why.
Today’s low rates are off-setting rising home prices because it’s less expensive to borrow money. In essence, purchasing a home while mortgage rates are this low may save you significantly over the life of your home loan.
Taking a look at the graph below with data sourced from the National Association of Realtors (NAR), the higher the bars rise, the more affordable homes are. The orange bars represent the period of time when homes were most affordable, but ...
Monday, May 13, 2019 / by Geoffrey Zahler
Happy May! Wow, already 1/3 of the way done with 2019. Before we know it, kids will be back in school, even though they aren't even out of school yet. Wherever you are, I hope you're doing well, and enjoying Spring.
Here's a brief market update. As always, the numbers presented are for Single Family Residences only, and does not include townhomes or condos. If you want info on these, please contact one of your amazing Zahler Properties agents!
Market Update - Video Edition: https://youtu.be/03t3GfMl1e4
The Median Sales price held steady at $300,000, and this is now the 3rd month out of the last 4 that the Median Sales price remained at $300,000. In fact, going back to September of last year, $300,000 has been hit 4 times, but never ending the month higher than this. This leveling out is something we didn't see in 2017 or 2018, so could be an indication that while the market remains solid, we're not going to see the double dZ ...
Tuesday, April 16, 2019 / by Geoffrey Zahler
The Las Vegas Market had a great first 3 months to the year. When we consider the last part of Q4 and the first part of Q1 as our "slow" time of the year, it was nice to see our markets to continue to grow and appreciate.
As I do with all of our Quarterly updates, I pull stats for Single Family Residences ONLY; I do not take into consideration Condos or Townhomes. These are an important part of our market too, so if you're interested in these, please let me know and I can pull separate reports for you!
Median and Average Sales Price
Our Median Sales price for the first quarter ended at $300,000 for Single Family Homes. This is about a 1% increase for the Quarter, as we started the year at $297,000. While not a 'large' increase, if you annualized this, we are looking at a +4% increase. Our First Quarter in 2018 ended at $280,000, so in the last 12 months, we've actually seen a 7.1% increase in home values. Once again, the ! ...
Tuesday, January 15, 2019 / by Geoffrey Zahler
When you make bold predictions, they can be way off because you just say they're bold. But when you record them, blog about them, and video them, there's no way you can't go back and review your predictions. Some I was close on, some I was way off, and some were just funny.
If you want to see the video we did on our 2018 Recap and 2019 Predictions, visit our YouTube video here: https://www.youtube.com/watch?v=peR9_MNd7no
Las Vegas Market Statistics Predictions:
For 2017, through 11 months, we are already at 41,141
For 2018 - I am predicting 49,000 units sold!
Boy - was I wrong. We saw a slight uptick over 2017, but this number pretty much has remained consistent for 3 years running. We ended 2018 with 42,094 units sold. For 2019, I am predicting 43,000!
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 of ...
Tuesday, December 18, 2018 / by Geoffrey Zahler
Want to watch the video instead? Watch here: https://youtu.be/338IZlODUp8
No one likes to get lowball offers. Locally, as we are seeing homes sit on the market just a little longer than they have been over the last 18 months, low ball offers are starting to become a little more frequent. Here are some ways to handle a lowball offer and push through!
First off, is it REALLY a lowball offer, or is it simply an offer LOWER than your really high listing price? Who set the list price? Was it you or your agent? If your agent suggested a lower price to you originally, how close is this offer to that price?
Consider WHO is making the offer. Do you know who the buyer is? Maybe they were touring the home when you were there, so you know. Was it someone you let into the home? Do you think it’s part of their negotiating, or do you think they are only really interested in STEALING the property for that price?