Buying or Selling a Home/Vegas prices

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Expert: - 1/6/2011


Question
Hello,
Are prices of single family residences falling in Vegas these days, and what about over the next six months? I'm looking for a home in the range of about 150K.

Answer
Hi Glen,

Here are the latest statistics we have available on housing price trends as of the end of November 2010. (December statistics are not yet available.)

http://www.lasvegasrealtor.com/stats/Nov10CompStats.pdf

You will notice that the average sales price ($162,660) on single family homes actually increased 1.7% in November 2010 from October 2010, though of course they were down from last year in November by 2.7%.  

As far as what prices will do in the next six months? I have no idea! :) I have been selling real estate for more than 28 years in Las Vegas, and I have seen the so-called "experts" give predictions that turned out to be wrong so many times that I never speculate.

I can tell you that we have been incredibly busy for the last quarter of a year (usually our slowest time) in 2010 and so far into 2011. There seem to be a lot of investors with cash snapping up anything under $200k right now. They can get such good rents as opposed to buying for such low prices, that the investors are getting a great return on their money.

I hope this helps you at least a little bit! If you want to browse online for properties, please feel free to visit our web site at http://www.greatlasvegashomes.com/homesearch If you see anything that looks interesting, we would be delighted to help you.  

Buying or Selling a Home

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Diann Tonnesen

Expertise

I have over 25 years of experience in real estate in Las Vegas. I can answer almost any specific question about buying or selling homes, condos, high rise properties or land in the State of Nevada as well as general real estate questions that pertain to the industry as a whole. I can also answer questions related to financing on FHA and VA loans, conventional loans, interest only loans, stated income loans, and hard money lending. You can also go to my site at http://www.greatlasvegashomes.com which has lots of information on it as well.

Experience

With my husband I have been helping families call Las Vegas home for over 23 years and I still love it! We developed a strong niche in the Internet industry and had to start a team of agents to respond to the large volume of calls we were getting. Currently we have 18 full time agents, a sales manager, two leads managers and two transaction coordinators assisting us. Last year we helped over 280 families and investors find property in Las Vegas.

Organizations
Las Vegas Board of Realtors and the National Association of Realtors

Publications
PR Web, Las Vegas Review Journal, and interviewed for numerous magazines as well as a broadcast interview for television by CNN.

Education/Credentials
college journalism major

Awards and Honors
Top agent in the state of Nevada for sales multiple years when working for Century 21 and last year one of the top 10 agents in the country with Prudential.

Past/Present Clients
Just too many great clients to mention here, but I can certainly provide a long list of references on request. Or check out our web sites at:

Las Vegas Real Estate
Las Vegas Condos
Henderson Real Estate
Las Vegas Golf Course Homes

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