Las Vegas Real Estate Lacking Supply? What the Absorption Rate & Months of Supply Say

Heidi — Thu, 24 Jun 2010 18:53:51 +0000

There are currently 9,405 Single Family Homes listed in Active Status in the Las Vegas Valley MLS.

That’s in a valley of a little over 2 million people!

But what does that nine thousand plus number really mean? Well, it says that the Greater Las Vegas Valley only has a 3 month supply of homes available…

THE NUMBERS-

37,554 Single Family Homes were sold in the past 12 months
/12 = 3129.5 (this is the ABSORPTION RATE)

9,405 Single Family Homes are currently listed
/3129.5 (absorption rate) =3.00 (months of supply)

So, what that means is if we didn’t get another new listing, there would be ZERO homes available in 3 months!

And here’s a little something to make you go hmmm…

Did you know the calculation for a “Traditional Market” was a six month inventory? That means we are three months shy of what the standard is…..

As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group

702-540-0420

E-Mail Heidi

Las Vegas Valley Real Estate… “The Perfect Storm”

Heidi — Wed, 23 Jun 2010 16:11:03 +0000

I think yesterday’s Elixir summed it all up pretty well. The Golden Rule.

Buy Low, Sell High…

Has there ever been a better time to purchase a home, especially in Las Vegas? All the indications say no. RIGHT NOW is the best time to make the investment.

DETERMINING THE “PERFECT STORM“

It’s not any new-news that Las Vegas and its surrounding areas have probably seen the biggest hit nationally when we look at value drops. As a matter of fact, CNNMoney.com published an article last January stating Las Vegas was the MOST UNDERVALUED Real Estate Market in the country- with homes selling for 41.4% under fair market value.

I’d venture to say that today those statistics still hold pretty true.

But here’s the equation that makes this pot most desirable....

-Interest Rates are at historical lows- currently hovering below 5%- in my opinion, smart, smart move on the Feds part.

Yet many people still have the mindset that they’re going to wait it out. Watch for the bottom and then act. No, I don’t have a crystal ball, nor can I determine when and/or if we’ve hit bottom…but I will tell you this- odd’s are, we WILL know when we’ve reached the bottom of the market.

WHEN THE BOTTOM HAS PASSED and we are moving upward….

As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group

702-540-0420

E-Mail Heidi

Heidi’s Las Vegas Real Estate Elixir of the Day….

Heidi — Tue, 22 Jun 2010 19:03:19 +0000

and now for today’s Las Vegas Real Estate Elixir…..

Buy Low, Sell High.

Makes unbelievably perfect sense, doesn’t it?!

As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group

702-540-0420

E-Mail Heidi

In Search of Las Vegas Businesses to Include Preferred Partners Directory- let’s help one another achieve more!

Heidi — Mon, 14 Jun 2010 19:16:14 +0000

My business is all about relationships… relationships with clients, as well as those with businesses and vendors I work with on a regular basis.

As the Las Vegas real estate market changes (I know, understatement, right?!), I change right along with it… Always updating, revamping, and revising my existing business plan. I’m constantly thinking about how to implement new ideas and plans. Changing with the times, so to speak.

I’ve always been a firm believer in paying it forward. Helping one another on a one-on-one playing field. Assisting others grow and succeed. And that is exactly where I am again.

In my business, it’s imperative to work with professionals. I meet so many folks who need various services- many real estate related, but also others types of businesses: Attorneys, Personal Trainers, Dog Groomers, Dentists, and the list goes on….and I’m always looking for a great “team”. I am very cautious about whom I refer out to my clients- as it is certainly my reputation as well as the business I am sending my clients to.

So, with that said, I’m looking for new “team members”. Local Businesses who would like to be part of my Preferred Partners List. Would love to find folks who are passionate about what they do, and place clients/customers in the #1 position, ALWAYS.

Do you have, or know of a Las Vegas Business that you think just might fit neatly into this directory? I would absolutely love to hear from you!

As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group

702-540-0420

E-Mail Heidi

Fannie Mae to Offer Las Vegas Pilot Program to Help Homebuyers Purchase Foreclosures

Heidi — Sat, 22 May 2010 18:06:25 +0000

The word on the world-wide streets is the Las Vegas Real Estate Market is wild with deals. I speak to people almost every day who think they can swoop in and scoop up a home for close to nothing. That’s until they actually “get into the market”…

These buyers, the one’s looking to purchase a home to move into, are finding that the old adage holds true here in Vegas.

Cash is king... Investors- many with deep, deep pockets have taken control. In most instances, if a home is a “super deal” (priced under $140,000 or so, or way under value), said investors are taking the lead. Beating out Mr. and Mrs. Smith on the home of their dreams simply because they’re a “better package” for the lenders who are selling their foreclosed properties and short sales. The statistics say that at least 50% of foreclosed properties here in Las Vegas are cash transactions…

Many buyers in today’s real estate market are just flat-out frustrated. Time after time, offer after offer, they are being out-bid and loosing home after home.

But there’s a little light on the horizon for these folks!

Fannie Mae recently announced a new pilot program geared towards giving people who are looking at purchasing a home here in Las Vegas the first opportunity to grab it. For the first 30 days that the home is listed, these “traditional” buyers have the upper hand at purchasing Fannie Mae Home Path properties.

The programs test subject is right here in the epicenter of it all. Las Vegas is the first market to give this program a go and if it’s found to be successful- Fannie Mae anticipates replicating it across the U.S.

This could potentially be fabulous news for buyers- both first time and repeat- in search of a great home at a great value in Las Vegas!

For additional information on the Fannie Mae HomePath program, click HERE, or contact Heidi .

As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group

702-540-0420

E-Mail Heidi

Gorgeous 4 Bedroom Single Level Home for Sale in Trails at Summerlin!

Heidi — Wed, 31 Mar 2010 19:34:18 +0000

Summerlin Living at it’s Finest…

This Fabulous 4 Bedroom home is 1,980 Sq. Ft. and includes a Sparkling Pool & Spa… Just in time for Summer!

Offered at only $230,000, this home is DEFINITELY a GREAT VALUE!

For information about this wonderful home, CLICK HERE

As always, if you have any questions about this, or any other home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420

E-Mail Heidi

OPEN HOUSE- Sat. 3/27/10- Gorgeous NW Las Vegas Single Level Home!

Heidi — Fri, 26 Mar 2010 16:39:25 +0000

Please join me this Saturday, March 27th from 11 am until 3 pm to preview this fabulous Northwest Las Vegas Single Story!

For information and driving directions, visit 8908 Egyptian Avenue

As always, if you have any questions about this, or any other home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420

E-Mail Heidi

Quick ‘n Easy Fix for Your Computer Wires & Cables

Heidi — Thu, 25 Mar 2010 17:14:55 +0000

Yes, I know- This is a Las Vegas Real Estate Blog….

But when I find something smart, funny, or just downright ingenious, I feel obligated to pass it along. And heck, this handy little idea has something to do with one of the most frequently used areas of your home.

One of the many blogs I frequent, Unplugged.com, offered up this -Oh My Goodness, Why Didn’t I Think of That-tip for organizing those pesky cords and wires that are usually a jumbled, knotted mess. You know the ones, don’t you?

Please tell me it’s just not me…

Happy Cord & Wire Organizing!

As always, if you have any questions about selling or purchasing a home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420

E-Mail Heidi

Henderson NV Residents- Great incentives are available to replace your “water thirsty” turf

Heidi — Wed, 24 Mar 2010 17:40:18 +0000

I so love facebook….

I’ve known about the Southern Nevada Water Authority’s Water Smart Landscapes Rebate Program for some time now. I’ve seen so many Las Vegas Valley homeowners take advantage of this great program by replacing their original lawns with a more water friendly alternative, and in turn, receive a nice little rebate… Good to our Valley’s water issues, good to our pocketbooks too!

So Heidi, what’s facebook got to do with all of this?

Well, because I follow The City of Henderson on Facebook, I stay in the “Henderson loop”… And they updated me yesterday about a fabulous Turf Removal Loan Program that they are offering.

The program, in a nutshell, goes like this- If you decide to remove a hefty portion of that grass that requires waaaayyyy too much water (we DO live in the desert, right?!), you just might be eligible for a nice little loan for up to $5,000 at 3% interest, amortized over a seven year period.

Yep, only 3%! A great deal! Take that, along with SNWA’s rebate- and you, your wallet,your new water-conscious garden will all be happy!

CLICK HERE to watch a great video provided by the SNWA with step-by-step tips for removing your water-thirsty grass and replacing it with a lush, beautiful water-smart landscape.

As always, if you have any questions about selling or purchasing a home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420

E-Mail Heidi

Update those boring white (or tan) ceramic backsplashes in a jiff- and on the cheap!

Heidi — Tue, 23 Mar 2010 20:34:57 +0000

So you just purchased, or already live in a house, condo or apartment that has that blah-de-blah white ceramic backsplashes… You know, the one’s that were so popularly chic here in Vegas circa the 1980′s well into the late ’90′s….

Now your not-so-pleased with the starkness of it all, so what do you do to spruce them up?

Tile Tattoos

You could obviously opt to replace them with today’s more popular solid surfaces (ie: granite, quartz, or even a man made material). But changing the countertops and backsplash in your kitchen or bath takes time, and obviously bucks…

Here’s a nifty idea that just might work for you- and even on the cheap… Tile Tattoos are offered by UK based company Mibo- and Mibo offers several different modern design choices.

Happy Updating!

As always, if you have any questions about selling or purchasing a home in the Las Vegas Valley, please give me a call-

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420

E-Mail Heidi