April 2017

There are 5 blog entries for April 2017.

Although Nevada was a state that was among the worst to be hit during the recession, its recovery has been strong and steady, especially over the last couple years. Today, increasing wages, declining unemployment rates, and plenty of new construction activity is bringing more and more people to Nevada, and more specifically to the Las Vegas-Henderson area. 

Despite all the positivity surrounding the Silver State right now, however, its ultra-tight housing supply is presenting some issues for home buyers looking to get in on all the action. With less than a three months’ housing supply, home prices have continuously been on the rise recently, but it’s still worth nothing that housing remains significantly more affordable here compared to just about

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Foreclosures in Las Vegas AreaIt wasn’t that long ago when it seemed like Las Vegas and foreclosures went hand-in-hand, and although we’ve certainly come a long way since the housing crash rattled the Las Vegas real estate market harder than just about any other city in the country, the foreclosure rate here is still slightly higher than what you’ll find in most markets all across the country. 

According to the leading property and real estate data firm Attom, Las Vegas has the 12th highest foreclosure rate among the 200+ cities featured in a recently released report, even despite a sharp drop in foreclosures compared to last year around this time  

Around one in every 304 homes in the Las Vegas area market was labeled a foreclosure during first quarter of 2017, which represents

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New reports have surfaced that claim the investor group that owns the majority of rental units over at Juhl will begin selling them as condos sooner rather than later. According to the release, investment groups KRE Capital, Dune Real Estate Partners, and Northcap will begin selling units as early as late April, helping beef up the area’s low supply of condos just in time for the busy spring market. 

As noted by the Las Vegas Review-Journal, the aforementioned investment group controls 306 of the building’s 341 units, which were all acquired as part of a bulk unit purchase that included condos in five separate properties around Las Vegas.  

Once listed, condos for sale at Juhl will vary in size from 600 to nearly 2,000 square feet, and prices will

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Las Vegas Home Sales: March 2017Las Vegas area home sales were on the rise again last month, once again supporting the notion that the spring season truly is one of the busiest times of the year for the local housing market. According to new data from the Greater Las Vegas Association of Realtors, 3,195 single-family homes were purchased in March, which represents a 42.1% increase compared to February and a substantial 14.8% jump from March of last year. 

The median sales price also increased by 10% compared to the same time last year, settling at $242,000 last month, which is also up 0.8% from February. 

Along with increased home sales and rising home prices, supply also continued its downward trend last month, which is certainly a key contributing factor in how quickly home

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Reverence Summerlin Homes For SaleIt was all the way back in September when chatter started to pick up again for Summerlin’s 300-acre housing development dubbed ‘Reverence.’ Now, over 6 months later, it appears as if the project is officially moving forward as reports surfaced about construction finally getting underway. 

It’s been about a decade since the Reverence community was proposed by Pulte Homes and Summerlin-based developer Howard Hughes Corp., but crews are now starting to grade the development site and home construction could actually begin as early as later this month.

Back when the project was first announced in 2007, developer Howard Hughes Corp. said as many as 1,500 homes could be built in Reverence, which will be situated near Summerlin’s northern tip.  

Should

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