My analysis: Distressed listings (foreclosures and short sales) are 64% of total listings. This is going down due to AB 284. We shall see units distressed units listed continue to go down until probably mid summer unless the bill is repealed. New construction numbers may rise as there will be fewer alternatives to buyers who need something SOON. Units of homes sold remain impressive. Credit markets must be watched as underwriting guidelines continue to tighten. Condos are barely financeable. Inventory stopped it's slow increase in December 2010 and now opportunistic buyers are gobbling up inventory through the summer and this trend seems to be continuing through winter. The rental market is softening due to all the investor/first time buyer combination of activity. This adds more supply and creates less demand to the rental market. Las Vegas is an anomoly to the law of supply & demand, anything can happen!
New Residents/Employment Conditions:
Rate (December 2011) 12.7%, Year Change -2.4%My analysis: This sector is FINALLY seeing stabilization thus improvement. It is VERY encouraging to seem these numbers improve - even if slightly! Unemployment rate is still painful however the total employed numbers have remained close to stable for a year. Slight increase with unemployment rate the last two months.
Tourism/Gaming Conditions:
My analysis: This sector (tourism) needs to see some serious price corrections before we see a comeback. Corporate credit is not coming back any time soon. It will be hard to get convention attendance back up without corporate credit. Glad to see regular tourists are making their way here with the imbalance of the other numbers to replace the convention attendee numbers. Visitor Volume, Gaming Revenue & Convention Attendance are encouraging and hopefully sustainable. Rising gas prices can potentiall hurt this sector and could be a major setback to the recovery of the Las Vegas economy!
Sources: Salestraq, Home Builder's Research, Greater Las Vegas Association of Realtors, Nevada State Gaming Control Board, Nevada Department of Motor Vehicles, McCarran International Airport, Las Vegas Convention & Visitor's Authority, Nevada Department of Employment, Training and Rehabilitation. Information deemed reliable but not guaranteed. My analysis is my humble opinion
Mountain's Edge January 2012 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -30, Pendings are UP +13, Sales are DOWN -8
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
The Lakes January 2012 Real Estate Resale Market Report:
Since Last Month's Report: Listings DOWN -3, Pendings UP +1, Sold Units DOWN -2!
For Current and Past The Lakes Market Reports
View The Lakes Homes For Sale Here (Updated Daily)
More Information on The Lakes Real Estate Here
More Las Vegas Communities Here
Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.
Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084). There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet. Community Amenities Include: Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom.
Sun City Aliante Market Report:
Sun City Aliante is currently enjoying a seller's market.
Since Last Month: Aliante Sun City, North Las Vegas Listings UP +3, Contracted Homes UP +7, Sales DOWN -7
For Current and Past Sun City Aliante Market Reports
View Sun City Aliante Homes For Sale Here (Updated Daily)
More Information on Sun City Aliante Real Estate Here
More Las Vegas Communities Here
Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.)
Units Leased:
Average Monthly Rental Rates:
Median Monthly Rental Rates:
Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley.
How to check to see if the home you are renting is in default
Last Month's Las Vegas Area Rental Home Report
How to Rent a Home in Las Vegas - Fill Out the Form on this page to rent or ask for property management services.
Search for Rental Homes:
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Renee has over 20 years of negotiating, sales and marketing experience to bring to your Las Vegas Area Real Estate transaction. Experienced w/ REO, Short Sale, Probate & Estate www.VegasDreamLife.com
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Renee has been a resident in Las Vegas, Nevada since 1997. She moved to the Southwest (Rhodes Ranch area) of the Las VegasValley in 2002. She has watched the area grow from desert to a thriving community.
Renee has over 20 years of customer service & sales experience so you can feel confident that she will handle each transaction with care and attention to detail!
Even if you are not thinking about buying or selling in the immediate future we provide a free, no obligation blog which contains useful information about: Las Vegas, NV Area Market Reports, Resale Statistics, Residential Building Permits,Economic Conditions and other news pertinent to our constantly changing real estate market! The information is designed so *you*, the consumer, can gauge when it is the right time to make your move! You may also sign up for blog updates via email so you can stay on top of Las Vegas Real Estate News!
We offer two ways to search available homes. One is our site provided from Greater Las Vegas Association of Realtors. It requires no registration and it is a little bit limited on search capabilities but it does now allow you to search for sold properties all the way down to the subdivision! New listings are not automatically sent to your email. Another is through Home Buyer's Scouting Report. HBSR does require registration (we won't bother you other than a weekly email with market conditions) and it allows you to search via maps and allows you to see addresses, directions, maps, neighboring schools. It also allows you to change your seach and be in control of your own home search! New listings are sent to your email as soon as they hit the market!
Renee is a full-time real estate professional with residental experience in, but not limited to: New Construction, Estate/Probate, Resort/Second Properties, Investors, Short Sale, REO & First Time Buyers.
All the Best,
Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate real estate experience. If you need a referral to a Probate or Estate lawyer, please contact me! Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program.
By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.
Renee offers free, no obligation, up to date resale market reports for the Sun Cities (age qualified communities) on her website.
Renee Burrows holds the Resort and Second-home Property Specialist Certification (RSPS.) NAR currently defines a REALTOR® specializing in resort & second-Home markets as "a real estate practitioner who facilitates the buying, selling, or management of properties for investment, development, retirement, or second homes in a resort, recreational and/or vacation destination."
Renee Burrows is Short Sale Foreclosure Resource (SFR) Certified. For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s market — they are critical. And while short sales and foreclosures are not for the faint of heart, agents with the proper tools and training can use these specialty areas to build their business for the long term.
Renee Burrows carries the SRS - Seller Representative Specialist Designation. The SRS designation is the premiere seller agency designation, conferred by the SRS Council, recognizing real estate professionals who have completed special education in seller representation.
Renee has employed many "out of the box" marketing techniques and stayed ahead of the crowd with changes in regards to internet marketing. Renee encourages her sellers to google her name vs the competition prior to listing their home. With over 80% of the buyers beginning their search on the internet, there is no such thing as too much internet exposure. After all, when listing your property, it is Renee's goal to net you the highest amount of money possible on your home sale.
Renee Burrows is At Home With Diversity® certified. AHWD is an educational experience designed to present a picture of the changing face of the real estate industry. Renee holds this certification. She has learned how real estate professionals can increase their sensitivity and adaptability to future market trends. Additionally, she thrives as an effective service provider and community leader.
Renee Burrows carries an Accredited Buyer's Representative designation. (ABR®) is designed for real estate buyer agents who focus on working directly with buyer-clients. Agents who earn this designation possess:
Renee Burrows is a member of "NABPOP" - The National Association of Broker Price Opinion Professionals.
Renee Burrows is a member of Business Network International (BNI). She enjoys connecting and building relationships with the "best of the best" local Las Vegas business owners. This enables her to refer clients to top real estate related industry professionals (insurance, mortgage, lawyers, home inspectors, etc) with confidence.
Renee remembers driving past the Rhodes Ranch area in the late 90's as it was being developed and wondered "who would
want to live out there?" Well back in 2000, only 913 people resided in zip code 89148. In 2006, the population in 89148 expanded to a whopping 36,536 residents! Obviously someone wanted to move out there and that includes Renee's family!
Renee prides herself for taking the time and visiting each model home while the developments were being built in the following developments: Vistana, the Falls, Canyon Trails, Sierra Madre, Durango Springs, Independence, Huntington, Esplanade & Rhodes Ranch.
The Rhodes Ranch/ Southwest Las Vegas, NV area has so much to offer, with so much still being developed:
Clark County Schools: One of the largest school districts in the country and constantly feeling the growing pains of a county that grows by 5-7,000 new residents each month!
Clark County, Nevada Website: Many people do not understand that Las Vegas, NV is only a small city within the valley of homes that they see from the airplane. Much of Clark County within the valley is unincorporated. Henderson & North Las Vegas are cities located within our valley.
Las Vegas Municipal Police Department provides an online service called "crimeview community" ~ it is a great resource to check crime stats prior to picking out the new community you want to live in!
The Valley experiences many growing pains and one of them is traffic. The 215 "Bruce Woodbury" Beltway is being built as a ring around the valley to help alleviate traffic.
Plagiarism Reminder: All of my blog posts are original. Do not copy without written permission from Renee Burrows.
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