In The News: Lied Center for Real Estate
Choosing a mortgage and buying a home are both big decisions.
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More buyers, according to the latest statistics from the Las Vegas Realtors trade group, are closing deals with cash. In May, 31% of all existing homes sold in the Las Vegas area were purchased with cash, which is an increase of 15% from May 2020.
The National Association of Home Builders has said that lumber prices are triple what they were in April 2020, increasing average single-family home construction by nearly $36,000.
Single family rentals have come up as one of the rising stars of post-pandemic commercial real estate.
The pandemic has made the housing market even tighter in the mountain West, where first-time buyers are trying to decide whether this is just the future or a bubble headed eventually for a bust.
This time last year, amid the pandemic lockdown, Marissa Lovell's landlord offered to sell Lovell her current rental house in Boise, Idaho, for $256,000. Today, one year later, it's for sale for almost $400,000.
This time last year, amid the pandemic lockdown, Marissa Lovell's landlord offered to sell Lovell her current rental house in Boise, Idaho, for $256,000. Today, one year later, it's for sale for almost $400,000.
Experts think mortgage rates will hover around 3% this month – extending the window for borrowers to lock in a low rate.
Nevada's housing market is once again moving too fast for appraisals to keep pace with values and it's sidelining would-be buyers who require mortgages, according to Las Vegas Realtors president Aldo Martinez.
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Welcome to the 2021 Las Vegas housing market. Depending on how much a buyer is willing to pay, it’s often a dream scenario for those looking to cash in, but more of a nightmare for those looking to break into the market or purchase more home.
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Southern Nevada’s housing market is accelerating today with rapid sales and record prices, and industry sources say the market is moving at the fastest pace in a long time. So, are we floating in another market bubble?
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Demand for houses has remained robust through the first months of the coronavirus crisis, with bidding wars on many properties, some Las Vegas area real estate agents say.