Las Vegas Real Estate NOW

Let’s talk about those occasions when title insurance is required for on a nonstandard manner. When title says this term, it means it is a method on requiring title. These are titles that are home purchased that were foreclosed, trustee sale, and you can also acquire by bidding on a non-judicial HOA foreclosure. It is difficult to acquire title insurance for these types of sale, but Equity Title has been putting out a list, free of charge for 5 years now. Equity researches all the next day schedule for single family residential that are schedule to go to foreclosure. They run a through title check although that information is not grantee it gives perspective bidders information on the which homes are safe to bid on and which homes to stay away from. Thank you to Equity Title for giving us these great tips. If you are looking to purchase a home that has been foreclosures, etcetera and want to get your hands on the list. Please contact us and we can put you in touch with Equity Title. Thanks for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

For March of 2019 we use our February data and this month we currently have 7,726 available homes on the market this is only for single family homes. Currently have 3,586 homes in escrow and 2,085 that have sold in the last 30 days. That is an absorption rate of 3.71 again, absorption rate is the number of months it is going to take to sell the existing inventory based on the current rate of sale. If you take the 7,726 you divide it by 2,085 that’s says its going to take 3.71 months to sell those 7,726 homes. Last month the numbers were similar all though I would say the absorption rate has come down dramatically from last month it was almost up to 5 it was at 4.73 in absorption rate. When we look and compare to last year it gets interesting here guys. Last year we had 4,076 homes on the market and the absorption rate 1.64. The next chart that we mention is the days on market for single family homes. What you guys will end up noticing on this pie chart the number of homes over 120 days on the market that is a lot almost 1,600 home are on the market. Want to learn more about the Las Vegas Market? Please contact us more information! Thanks for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Not all real estate agents are Realtors and we have a lot of real estate agents in town. Realtors are licensees who are members of the Greater Las Vegas of Association of Realtors and they also belong to the Nevada association and the National group. One very important part of being a REALTOR, is having fiduciary duty to your client. The basic meaning of fiduciary duties is loyalty to that client. Putting the client before yourself and that we should never do something to take advantage of our client. Sometimes no deal is the best deal, reason for that is saying you might have had that one client that is unethical or trying to something illegal. So, it might be best just to walk away from it and as a realtor you have too. Are you selling a home with personal property? What is considered personal property when you are selling a home? Do the mounted TV’s stay? Do the Koi fish stay with the pond? These are all great questions and need to be addressed in the contract. Your agent or you as a consumer should never assume. Always put things in writing, discuss with your agent, and again write it in the contract. Are you a local relator in the Las Vegas/ Henderson area? Want to learn how you can better serve your client? Please contact us and we can put in touch with Steven Kitnick! Thanks for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

What we do at Southern Fidelity Mortgage or any loan officer that is out there. We want to make sure that the borrower is eligible to qualify and there is so many different programs that are out there. That the borrow may not know about these programs and it is a really good idea for them to start speaking to a lender. Some buyers don’t realize how little money they really need to purchase a home. You don’t have to have 20% down like how you use to in the past. You can do as little as 3% down in today’s market, you still have closing cost still. Sometimes the seller can help pay for that cost and sometimes they can’t that is usually about other 3% or so. You can buy a home for 6%-6.5% of the price. You can contact or meet Leilani and establish a plan even if you are not ready to buy right now. Establish a plan so you will be ready to buy and when that time comes. Say you have 6 months on your lease, and you want to buy, get with a lender now don’t wait. Want to learn more how to qualify for a home? Please contact us and we will put in touch with Leilani! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Everyone is all upset about their tax returns because they are not what they used to be and there are numerous reasons for that. Let’s start off with the change in the tax break, everybody’s tax rate went down in 2018. When your tax rate goes down and if you have not changed your withholding. Your withholding is going to automatically go down. The reason for that is that your net pay is calculated or your gross pay on what the taxes are calculated based on your tax rate and your dependents at home. So, this means you got a bigger pay check during 2018 and people thought they were going to get a bigger tax refund. But the tax refund has gone down due to the tax rates and your amount of withholding has gone down. Now your net take has gone up if you look at your last year tax returns and you look at what was calculated as your tax liability for 2018. We think most people will be a little bit surprised that the actual tax that they paid in 2018 was less than what they paid in 2017. If people want a bigger check, they need to change their withholding amounts. Want to learn more about how to new tax laws? Please contact us and we will put you in touch with Jeff Edwards! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

What happens to the people that cannot do the normal loans and is there other types of loan they can qualify for? There are other options that is worth offering to people the idea of that is non-government, non-inside the box types of loans. These have really pushed in our market and it is becoming a larger segment of the market place out there. On a normal mortgage there is all kinds of reasons on why you might fall outside of the box. There is a couple things example: can be your income that you show on paper, credit, the property itself and it could be several other issues. The loans will come in and try to make sense and say is there a reasonable loan to give to a consumer, who has this problem, is there a way to make that loan safe and this is when those loans come into play. The loans are a little bit more expensive and in general they fall in the mid-range. We layer them into three tiers which is your traditional (A Paper mortgages is the term for lenders) that are inter changeable and the ability to be sold to one bank to another. It is just like cash, so those loans have the best interest rate. Great John Ingram always educated us on how loans work! If you are looking to see if you can qualify for a great interest rate. Please contact us or if you have any questions on how this process work. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Harvey has said this before if you listen to the show, his partner Joel says this “figures lie and liars figure.” This is the thing guys $300,000 median price is affected by so many factors. First, how many more homes over million dollars are we selling now than we did in the recent past? A lot more even if you take it off the top bunch there is still a lot in that million-dollar segment. The other thing is that Harvey would purpose and have to investigate the average size of $300,000 home today is bigger than a $300,000 home back in 2006. Another thing happening in our market right now and this is the thing we have been talking about since May of last year. That the inventory continues to increase last May we had about 2,800 homes on the market. Now we have 9,000 homes on the market and what people don’t understand is that 9,000 is normal, it is a balanced market. Between buyers and seller that is where you want the market to be, we currently have 4 months of inventory. Wanted to learn more about what is going on in the Las Vegas market? Please contact for more information! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Upcoming events that are for Young Artist Orchestra of Las Vegas. I do know there is concert at the end of this month tell us about this video game music. Yunior explains that this is something that has been happening all over the country where people are going out to these concerts with an orchestra in it. Instead of hearing classical music like Mozart you’re hearing music from video games. It seems it is catching on to be very popular, people are going to see Kingdom Hearts or Super Mario’s. Ours is covering a whole bunch of music from selective games. There is Halo, World of Warcraft and honestly a whole bunch of game I have never played. They invest a lot in this music and when they developed these games music is a part of it. The concert is on February 24th at 2:00 pm at the Windmill Library great venue and to listen to the Young Orchestra. Tickets are $10 for students and if you are not a student it is going to be $20 it is still extraordinary reasonable price, incredible music. What a terrific show today with Yunior! Want to learn more information and concerts that Young Artist Orchestra of Las Vegas can provide? Please contact us and we can put you in touch with YAO! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Let’s talk about property profiles, we use these all time as real estate agents. Every time I have a seller interested in selling or a buyer buying, we reach out to Equity Title to pull a report. Basically, what a property profile is a report that is generated computer-based report. Generated of the characteristics of the property so we will show bedrooms, baths, square footage, lot square footage and the owner information. Also, if the owner has a mortgage, liens, judgements that may have been recorded against the property. Going more into depth the title company can go over the demographics far as the neighborhood itself as well local shopping in the area, most the recent transfers of properties and comparable sales in and around the neighborhood. What it provides to client that is looking to buy a home. It is going to provide you information outside of what us realtors can provide. It’s going to be very similar and unique from a third party that is somewhat disinterested in the sale. What to pull a property profile to see what is going around your neighborhood? Or if you are interested in buying and want to compare sales to see which one is best for you? Please contact us and we can put in touch with Equity Title to pull a property profile for you! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

When we look at the stats this month, we are going to see a continuing trend. Inventory continues to climb now this is only single family homes in our market. Currently we have 7,795 homes available that is just single family not including condos, townhomes or high-rises. In escrow or under contract we have 3,041. Lastly sold in the 30 days we have 1,647, that is an absorption rate of 4.73. That is the biggest number you have ever heard me talk about in the past three years. That means it take on average 4.73 months to sell the homes that are available right now. Now usually this time year the absorption does go up it is a seasonal thing but this very high. Curious about the Las Vegas Housing Market? Watch this video and all our Market Trend videos to see how YOUR market is changing. Should I sell my home now? Should I buy a home now? If you ask yourself these questions, we can answer these questions for you. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/

Harvey talks about the misperception on real estate these are things that happen all the time in this industry. Harvey helps both sellers list properties and help buyers inquire properties. In the course of listing a property Harvey will get that one call “Hi I am interested your property 1234 Street; can you show me the property?” He always asks the prospect client are they already working for a realtor, they get to the home and show it to the client. What they think or know is that they want to buy from the listing agent, and they do not want a second agent involved in the transaction. It is their belief that working directly with the listing agent you would be getting a much better deal for yourself. The important qualification here is that Harvey is representing the seller. He has already signed a contract with them and in that contract, it should already discuss the idea or possibility of Harvey representing both sides. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/

Great topic to discuss today and that is mortgage misperception things that people think are so but maybe they are not. For instance, “I know I must be at my job for at least two years or be at my current job for two years.” John Ingram lets us that is FALSE! He explains that mortgages have moved passed that rule what lenders are looking for is that you have been working for two years. Must show you have a stable job history but if you change jobs that is okay. There is even opportunity when you change fields where it could still be okay. It all comes down to can we build a story that says your income stable, consistent, and reliable there is a chance. If Harvey wanted to apply for a loan all his money would have to be document. Lenders will hear stories from clients stating, “I have this income coming in making everything okay for me,” usually the lender asks them does that show on paper? Mostly commonly being is tipped specialist we have tons of those in Las Vegas and as such there is a large amount of cash. That goes unreported on a person’s tips make it tricky unless they have it on paper to be able to qualify for a loan. Outstanding job to John Ingram for giving out these tips for us! If you are interested in getting a loan or how to qualify please contact us and we will put you in touch with John Ingram! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

It is safe to say interest rates might be going up by a little bit, with the strength of the economy and things in that nature that is usually an indicator that they are going to go up. We need to look back at history these rates are is still very low and outstanding. Harvey and Rowe can still remember when interest rates used to be in the double digits. Down payment assistance seems to be going away, there is still some programs out there, but you can still get into a home with low down payment these days. They changed the rules on that they are now looking at lower income levels for most of down payments it was almost $100,000 and now it is about $50,000-$60,000 per house hold. Realtor.com was talking about our market they think we are looking pretty good for next year. They think we will see about 8% of appreciation that is their projection. Also going to see an increase of volume next year as well, which would be nice our trail slipped a little by the end of last year it will be nice to see it increase. Looking to get a loan, or if you are applicable for down payment assistance? Please contact us and we can put you in touch with Rowe Nelson with Southern Fidelity Mortgage. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Harvey talks about an article that was in the Sun, the article states that Las Vegas housing prices remain leveled in December. Interesting enough is that when Harvey went through a couple of articles last month, they were identical pricing level in November. They go on and it says, “stable home prices and fewer homes changing hands in the Las Vegas Valley caused housing values to plateau last month, according to the valley’s leading real estate association. GLVAR reported the median price of single-family homes rose slightly to $295,050 in December, up from $295,000 in November. The median price of local condos and townhomes sold in December dipped slightly, from $164,900 in November to $163,000 in December. We still have not reached our peak in 2006 median home prices were at $315,000. In today’s market we are barley approaching the 300’s, slowing moving up to your peak. Interested in how much your home is worth in the Las Vegas Valley? Please contact us so we can put you in touch will a local expert! Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

I get a credit card bill and pay it right away just because I do not want to any interest on it. Doesn’t that mean my credit should be ok? Yes, that is good on the surface, but our consumers will go a step further to say they do not have any debit or pay the credit cards in full. So, then the consumer says they have nothing to show that they minimal payment. John Ingram would say that is not true what ends up happening your creditors report to your credit bureau once per month about you. Generally, and almost always is what they put on your monthly statement. When bureau sends you that monthly statement, things to look for is do you have a balance. Sure, because you haven’t received that bill to pay it and that is what showing on you credit. When you use a credit card throughout the month, and you are waiting for that bill to come in and credit card report is going to reflect that you have a balance and that you have a minimum payment. Want more information on what to look for on your credit please contact us to put you in touch with John Ingram. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Visit our radio show website: https://lvrealestateradio.com/ Visit our real estate website: https://brownblankfeld.com/

We are involved in a transaction right now with a custom home and did the home inspection. The inspector discovered that there was kitec plumbing in this house. We all thought this an ancient history thing, we usually think two things were history. The first thing is convincing people that they need home inspections we thought we moved passed that and 20 years later we are still talking about and dealing kitec plumbing. What is interesting the reason why Ben brought that up is because when I confronted the seller “didn’t you guys deal with this when you did your home inspection” because they didn’t build the home. They bought it from the original sellers and the sellers told Harvey they didn’t do a home inspection. Now the current sellers are the paying the price giving the buyer funds to be able to replumb the house which is an expensive expense. Even if you are buying a brand-new construction a home inspection is necessary and a good protection to have. We notice in the last past two years there will be a list of things that will come out on in a new home. That is supposedly ready finish and delivery are they are not. If you have any questions on what to do while dealing with kitec plumbing or need expertise for home inspection. Please contact us for more information to put you in touch with an inspector. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

With the new year there is some new loan limits for FHA, VA and conventional. FHA just announced that they are raising their loan limits in Clark County and of course everywhere else. Here in Clark County the new loan limit for FHA is $294,515 which is awesome, and the conventional is $484,350. VA is pretty much the same, VA runs the same as conventional. In terms of a conventional loan if you put a little more down you go up $600,000 no jumbo as long it doesn’t exceed more than $484,350 which is crazy. The thing is with jumbo loan there is nothing wrong with that program they are usually a little more expensive and a little more unique in credit score criteria that you need to do in those guide lines as such. Jumbos are not a bad deal if you are looking in the million-dollar price range. VA loan limits can go well above that and work out a deal, VA has great programs out there for higher priced homes. People were surprised when they find out they could do VA a loan for much higher priced home. Even though the general rule of thumb 100% financing on those higher priced homes, you can even come in with a little a down payment as opposed to the standard. If you have any questions about how to get financing or how these loans programs work, please reach out to us and Leilani Carazio so we can help answer any questions you may have. Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

Everyone is getting ready for their tax appointments and they are looking for their settlement statement or HUD1. It is very important to make sure you a have copy of that if you sold or bought in 2018. If you don’t have a copy you need to make sure to reach out to the agent you were working with, or the title company and gather that piece of paper because you are going to need it. We recommend at least doing this twice a year is to check into the title of your home. What we mean by that is unfortunately, in how the world works with the cyber fraud and just fraud its self. You never know what can be against your property and it is a really good idea to keep an eye on what is going on. Basically, what we do is a quick search and say everything is ok with the property or “hey did you know you have a lien on the property, Velma down the street put a lien on property because she is upset with you” whatever the case might be. You saw that piece of mail that came in and thought it was junk and threw it away not realizing it was notice. If you have any questions on how to find the best fit title company to protect you when liens get placed on your property, please reach out to us so we can help answer any questions you may have. Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/

This month we currently have 7,149 single family homes in the market. We have 2,453 homes under contract, pending or contingent. Lastly, sold in the last 30 days are 1,860, that creates an absorption rate of 3.84. Absorption rate is the number of months it takes to sell the existing inventory. If we wanted to sell all 7,149 home it would take a little under 4 months to do so, based on the current rate of absorption being sold in that time frame. As we compare to last month (December) absorption rate was 3.65 its gone up a little bit. When you go year over year it gets exciting for buyers that the market is a lot more normal. A year ago, the absorption rate was 1.85 it has gone up 2 months (60 days). We saw this coming middle of the year back in April when the trend switched from the inventory shrinking to flatting out and start increasing again. Curious about the Las Vegas Housing Market? Watch this video and all our Market Trend videos to see how YOUR market is changing. Should I sell my home now? Should I buy a home now? If you ask yourself these questions, we can answer these questions for you. Thank you for watching! Subscribe to our channel to get the updated market trends each month for Las Vegas, and other great real estate tips and news! Tune in every Tuesday at 9am to 101.5FM & 720AM, KDWN, The Talk of Las Vegas to hear Las Vegas Real Estate Now! Call Harvey for all of your Real Estate needs: (702) 203-1165. Check out radio show website: https://lvrealestateradio.com/ Check out real estate website: https://brownblankfeld.com/