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Market Conditions Articles
The Las Vegas Real Estate Market 2018
by Administrator on Jul 5, 2018 • Market Conditions Articles • 937 Views
The following graphic, based on Greater Las Vegas Association of Realtor data, says it all. The number of sales (in purple) are falling while the average price of a home (in green) is rising. As I discussed in a previous article this change in market conditions is playing havoc with the market and it has since 2015. For sellers, they want to increase the sales price of their homes in keeping with the trend. For buyers they are having to bid higher and higher to purchase the home that they want.
Are their REO & Short Sale Appraisals in your Future?
by Administrator on Aug 10, 2018 • Market Conditions Articles • 956 Views
Just when you thought you had escaped the nightmare, they pull you back in! If the housing market in California is an indication of the future of the housing market then you had better start digging out your old reports on distressed sales. Many are predicting a downturn in the real estate market cycle that could cause a lot of pain. When you think about California, New York, New Jersey and other states where demand has been hit by the interest deductibility limits it seems only reasonable that fewer buyers want to jump into those markets. You have to have a great deal of money, and want to give it away, to purchase a home in a state that has outrageously high taxes that are no longer fully deductible. For those who have been avoiding those taxes for a long time things are changing.
Demand and Price Changes Due to the Las Vegas Raiders Stadium
by Administrator on Feb 16, 2019 • Market Conditions Articles • 889 Views
Demand in the industrial real estate market is changing in the area surrounding the Las Vegas Raider’s stadium. It’s happening. Industrial buildings located there have been in demand for many years. Most owners have constructed or purchased typical industrial buildings for uses like; warehousing, manufacturing and distribution. The buildings located in the neighborhood have a great centralized location that has allowed owners to provide services to business on the Las Vegas Strip or to all of Las Vegas. It wasn’t that long ago that real property values in the area surrounding the stadium conformed to a common industrial demand. Industrial uses were dominant. The market is however changing. As the Stadium structure reaches skyward it has occurred to some that the market for improved industrial buildings is changing as demand for Stadium access, Stadium parking and peripheral uses like retail and hospitality will extend out and away from the stadium.
Internet Information and Value
by Administrator on Mar 30, 2019 • Market Conditions Articles • 879 Views
If you own a parcel of real property and you attempt to sell it you may find that your past agent may have spent a lot of time and money “getting the word out” to potential buyers by publishing information on your real property via data marketing sites and via the posting of polished flyers. Your listing agent usually has a website and often they additionally pay to display your listed property on one or several third-party sites. It’s what you were looking for them to do, right? It sounds like a great idea listing your property with as many websites as possible, like for example the one owned by the listing agent / broker, the local Realtor site that often uploads to realtor.com, the multiple listing service (MLS) website, loopnet.com, landandfarm.com, trulia.com, landwatch.com and the list goes on and on.
The Las Vegas Raider’s Practice Stadium
by Administrator on May 10, 2019 • Market Conditions Articles • 803 Views
It’s been about a year since the City of Henderson approved the sale of about 55 acres located north of Inspirada on the West side of Executive Airport Drive and also south of St. Rose Parkway for what will be a Las Vegas Raiders practice facility . The property closed in June of 2018 and they have broken ground on the practice facility that has been budgeted for around $ 100 million that was part of the $ 1.9 billion stadium price. Like the stadium itself, located to the north of Russell Rd. and west of Interstate 15 Highway the practice facility in Henderson will generate a lot of excitement in the coming years. For those who have located in Inspirada it’s like having a professional football team locate right in your back yard. It will be like heaven for many football fans! But I’m sure that there are some who are not really looking forward to the traffic.
Las Vegas Strip and Near Strip Transition Values
by Administrator on Jul 22, 2019 • Market Conditions Articles • 788 Views
Some properties located near or on the Las Vegas Strip are now ripe for development in that they could be transitioned into hotels, condominiums, high end retail or resort casino support uses in the near future. For a long time, prior to the 2008 stock market based recession, there were many Las Vegas properties approved for vertical development, some actually made it to development right as the market failed. The real estate market has fought its way back and I have recently seen more marketing flyers circulating that display renderings of vertical buildings on them. The Las Vegas Real Estate market wants to return to the days when there were many announced and actually hi-rise buildings under construction.
Clark County Vacant Land Market September 2019 & Graphic
by Administrator on Sep 10, 2019 • Market Conditions Articles • 869 Views
This is a quick update of the southwest land market graphic, as you can see there are few changes even though there are areas with a stronger land market than others.
BLM Land Auction Results
by Administrator on Sep 29, 2019 • Market Conditions Articles • 859 Views
I recently read a Las Vegas Sun Letter to the Editor entitle “BLM land sale is bad for Nevada” published on July 27, 2019. The letter by Emily Woods of Las Vegas noted that pristine lands “from the cliffs of Red Rock Canyon to the shores of Lake Tahoe – is shared by millions of visitors each year. Each day, I am struck by the beauty of nearby canyons, mountains and pristine desert, which harbor spectacular wildlife and limitless recreation.” She goes on to state that oil and gas drilling goals may destroy a wildlife corridor and fishing. I agree, this should be curtailed, but the BLM is doing more harm than that.
Too Much Entertainment? I Don't Think So.
by Administrator on Oct 14, 2019 • Market Conditions Articles • 795 Views
With the announcement of the Madison Square Garden (MSG) Sphere you would think that the end of the world was coming to Las Vegas. Too much entertainment competition they say with the tens of thousands of seats being built. If you add 18,000 MSG Sphere seats to the 42,000 NFL Raider's seats to the NHL T-Mobile seats and possibly tens of thousands of planned Jackie Robinson NBA seats you have a lot of seats to fill. Personally the only problem I see with Las Vegas trying to fill all those seats is greed.
Is It Time for the Apex Industrial Park?
by Administrator on Oct 30, 2019 • Market Conditions Articles • 744 Views
If you have been looking at industrial land in Apex you have been staring at a lot of $ 80,000 an acre asking prices and a few with highway frontage that have asking prices around $ 100,000 an acre. That’s cheap industrial dirt if you compare it to say North Las Vegas (NLV) or Las Vegas where industrial land is being sold at or above $ 320,000 an acre. Yes , that puts most Apex Industrial Park area land prices at around 25% of metropolitan industrial land. So what is that all about? Most industrial users don’t need high traffic or visibility, all they need is accessibility. The problem in the past has been the lack of water in Apex. If you have driven up to Apex recently you have seen the trenches for the new NLV water lines and the pipes are in place ready to go in them. Apex is about to solve one of its most important drawbacks.
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