May 2013

There are 3 blog entries for May 2013.

In the Las Vegas market we are currently at less than one months supply of homes on the market, this means that if no more homes came on the market, we would sell all our available inventory in less than one month. In the higher end range between $800 and $1.2 million there is a little more on the market with a 2 months supply of homes, but still signals a major shortage and prices going up. Typically a sellers market is considered between 1-4 months of inventory, 5-6 months of inventory is considered neutral, and 7 months and up is considered a buyers market.

Based on this, and high demand for homes, from investors, wall street hedge funds buying homes as rentals, first time home buyers, second home buyers, and people moving here to take advantage of

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Yes it is!! What are WISH funds you ask? Well one of the best Down payment assistance programs for 1st time buyers in my opinion. WISH will match your down payment for a home 3/1 with a max of $15,000. So if you have $5000, Wish will make your down payment $20,000!!! That will give you a lot of buying power. Even if you only have $2000, you can still get money from WISH. Funds are 1st come 1st serve and cannot be reserved until you have a contract in place, so call me today so I can get you set up. There are enough funds to go around, so tell your friends and family too!! But we must hurry, they won't last forever. Homeownership can be closer than you think!

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According to the Greater Las Vegas Association of Realtors. Home prices are also up 3.1% from March 2013 to April 2013. This is being caused by a shortage of homes on the market and heavy demand. Home prices should continue to rise as supply remains short. Many experts don't believe this to be another bubble, as we are still down significantly from the peak in 2006. Foreclosures are also down as 4 years ago they accounted for close to 80% of all sales, now they account for only 10%

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