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Appraisal Articles is an Internet website dedicated to providing free information in the form of articles on appraisal and real property / real estate topics to appraisers and the public.  Authors are invited to contact us and submit related original articles for approval. 

Real Estate Appraiser Perceptions - September, 2020

by Administrator on Sep 11, 2020 Market Conditions Articles 8 Views

Here is an update on what I have found in the Las Vegas real property market as we near the end of the third quarter of 2020 based on research. Residential Market: Here are a few statistical facts in September of 2020 on the Las Vegas market; the median sales price of single-family previously owned homes is up to $ 312,000 and it appears to be climbing higher. Fewer and fewer new listings are coming on to the market, we are at a 5-year low, and fewer homes of this type are for sale. The median days of market has fallen slightly to around 23. The median price per square foot is up to $ 170. So it appears that the market is doing well, but is it?

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Trouble in the Clark County Commercial Real Estate Market?

by Administrator on Jul 11, 2020 Market Conditions Articles 62 Views

If you have been following my commercial sales statistics on Clark County, Nevada, that includes Las Vegas and Henderson, you already understand that the number of $ 1 million and up closings, including vacant land sales, has dropped off by about 40%. That is a huge decrease in the number of sales, and as of today July 11th it doesn’t appear that things are getting better. The heaviest hit segment of the market is office buildings. There were no office building sales in April, May and there likely will be few offices sold in June or July. Let’s face it, people are not excited about returning to the office and employees forced to return who then become infected by COVID will not be an easy group to console.

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Pahrump Sales Remain Strong Despite COVID

by Administrator on Jul 3, 2020 Market Conditions Articles 78 Views

Pahrump single-family residential (SFR) home sales volume, has remained strong through May but may suffer a decrease in June of 2020 based on a review of Nye County statistics. Nye County average sales price has however increased in the June projection. Also reviewed was the GLVAR sales data which included both standard SFR homes and manufactured homes. The GLVAR data indicated a strong increase in Pahrump sales through June of 2020 and a steady increase in prices between February 2020 and June 2020. The COVID pandemic appears not to have had a significant impact on the Pahrump SFR market with the exception being that the non-manufacture home sales volume appears to be down.

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Commercial Market Sales - Update July 1, 2020

by Administrator on Jul 1, 2020 Market Conditions Articles 120 Views

During May of 2020 (and June 2020 based on my perception of the overall market), relatively few commercial sales have been transacted in Clark County, Nevada in the recent past. The following table was extracted from sales data and it reveals that sales volume in May was still substantially impaired by the pandemic and the Office market appears to be the hardest hit. Thus, we remain in a "suspended" market and no one knows how long the commercial market will remain in this "state" without there being some negative impact. While the number of residential homes has fallen the demand for the ones available for sale has increased and thus sales prices have remained relatively high. While some market strength has returned we have not returned to what could be called a normal market for residential homes.

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Pahrump Water Rights - An Appraiser Perspective

by Administrator on Jun 15, 2020 Water Rights Appraisals 71 Views

Water rights in Nevada “have the standing of both real and personal property” since a water right or fractional water right interest can be conveyed after it has been specifically excluded from a source property via a conveyance deed. That means that a water right must be specifically excluded via a deed of conveyance from a real property or it will run by default with the land it is associated with.

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