http://lasvegashomes.com/blog/archive_201503/sort_entrydatetime-desc/ The economic crash earlier this decade has left many individuals and families timid about buying a home, when much of the data reveals that it is actually still a great time to buy a home in Las Vegas, NV. The fact that home values are not plummeting OR sky rocketing demonstrates a more stable market than what we have recently seen. Owning remains more attractive relative to renting in many Las Vegas locations, and interest rates are lower than we were accustomed to before the crash. Furthermore, with down payment assistance programs like Nevada’s Home is Possible program (HIP) it is actually easier to get into a home for many. HIP offers buyers 4% towards closing costs and under a 5% interest rate for individuals with a credit score of at least 640.  Even with this knowledge there are too many individuals and families that stop there, because their credit is below a 640. The reality is, there are a number of companies that can help improve your credit score enough to get you into a home. Consumer Credit Counseling is a great example and an option that we frequently refer our clients to. So, if a buyer’s financial situation will allow them to get into a home and it makes more sense for them to own a home than to rent, we encourage them to check with a credit counselor and see what can be done to improve their credit. Does doing it on your own seem overwhelming? There are also programs like the non-profit organization, The Neighborhood Assistance Corporation of America (NACA), that help individuals who differ in income levels make home ownership a reality by helping those enlisted in their programs understand what type of home they can actually afford and creating an action plan for improving their situation enough to buy a home. If you do not already have a realtor and are interested in speaking with someone about how you can get into one of these programs, please contact us toll free at: (800) 758-7071 and we will put you in touch with the right real estate expert to help you.CLICK HERE FOR A LIST OF ADDITIONAL DOWNPAYMENT ASSISTANCE PROGRAMS http://lasvegashomes.com/blog/821/can't-buy-a-home?-think-it's-a-bad-decision?-you-may-be-wrong/ Mon, 23 Mar 2015 07:06:31 -0800 MARCH 2015Taxable sales are reading near the prior highs of 2007. December, the most recent observation, posted a very strong, seasonal spike of nearly $3.6 Billion. December 2007 was the prior high.Many local retailers appear to be greatly improved from the recession era and we even notice some gaps in retail supply in some key areas, providing developers some new opportunities. There have been some major new retail options in the Valley including Downtown Summerlin, Linq and the newly opened Grand Bazaar Shops.Gross gaming revenue has yet to return to prior highs and is under-performing relative to our other indicators by a signi¬cant amount. Fortunately, local resort operators have adapted quickly to shifting consumer tastes and have diversi¬ed away from a gaming heavy mindset. While we saw a lot of loss leaders in the past on the hotel and food and beverage side in an e ort to court gamblers, the model is to maximize revenues for the total property, including hotel rooms and dining. In addition, nightlife and beach clubs have been massive revenue generators for the strip properties. The challenge with weaker than expected gaming revenues is that the state’s lawmakers are feeling pressured to fill the tax void with other forms of taxes.2014 set a record for visitors to the region with over 41 million persons. December, the most recent print, was 5.5% above December of 2013.Clearly, visitor volume has demonstrated a strong recovery from the recession and Las Vegas strip operators continue to grow the market. SLS Las Vegas recently opened on the north end of the strip at the former Sahara Hotel & Casino. The property cost $415 million to complete and contains 1,600 rooms. Genting is also moving forward on it’s massive north strip project.Employment continues to grind higher and we are up about 2.7% year-over-year. Although we are nearly 5.6% o of our high, we are encouraged by new hotel construction, industrial projects and some very organic growth that we are seeing in both the southwest and northwest valley. We are also aware of some larger ¬rms that are setting up operations in Southern Nevada.Population has been one of the crazy stories of the past couple of decades. Clark County NV has been one of the fastest growing areas of the United States, with record growth through the 1990’s and into the 2000’s. After a brief decline during the last recession, the Las Vegas area has since returned to positive growth and it is estimated that the Valley broke over 2 million people back in 2012.The Center for Business and Economic Research, which provides population forecasts for the local governments, expects the Valley to exceed 2.5 million people by 2028.Clark County Residential Meter Hookups Electric meter hookups are a proxy for new household formation. After taking a pause during the recession, we have observed marked improvement, corresponding roughly with measured population growth. In addition, 6,107 new homes were built and closed in the Valley in 2014.Single Family Home Vacancy Rate - Clark County NV Vacancy rates are a good indicator of the health of both the local residential market and the general economic health of the Valley. Job loss and foreclosure instigated a major spike in vacancy rates during the recession, which then lingered at historically very high levels. Today, foreclosures are far less frequent and job growth is positive, although we have a long ways to go. Vacancy rates have drifted back down from the high in 2011, a large, noteworthy improvement.Home ownership rates in the past decade have been artificially high, supported in a major part by easy lending. Investors have filled that void and have purchased and leased at many once, vacant properties. In addition, some home buyers have recovered from Financial strain and are once again engaged in the housing market. http://lasvegashomes.com/blog/792/las-vegas-key-economic-indicators/ Thu, 19 Mar 2015 06:50:07 -0800 There are many more pros than cons when it comes to living in Las Vegas, NV.  So, the better question may be, why WOULDN'T anybody want to live in Las, Vegas, NV? Regardless, we are going to discuss the positives. Fair warning, "Sin-City" did not make the cut this year.  There is something for almost everyone in Las Vegas, NV if not very close by which makes for another pro about living in Las Vegas, NV. Here is a rundown of some of the top reasons to live in Las Vegas, NV. Affordability. With no state income tax and still relatively affordable home prices with incentives, Las Vegas is still very affordable to live in and that is why it continues to see an influx in population. Employment is improving, and companies are beginning to value the perks of Las Vegas over its reputation as sin city when weighting their decisions to create offices in Las Vegas—creating many more white collar jobs than Las Vegas, NV is used to seeing.Outdoors. Las Vegas' natural surroundings boasts virtually every possibility for enjoying the outdoors from 10 minutes to 1 hour away. The list includes, but is not limited to: kayaking, mountain biking, hiking, canyoneering, spelunking, rock climbing, repelling, sky diving, camping, horseback riding, snow skiing/boarding and more. The terrain ranges from desert, sandstone to aspen and beyond.If you are into motor sports, there is no shortage of possibilities in Las Vegas either. Lake Meade allows for boating and jet skiing and the dunes allow for desert cars and quads. There are trails everywhere for motor bikes, quads and off-roading in your 4-wheel drive. If you are into racing, take your road bike or your car to the local race tracks.Food. Are you a foodie? There are numerous restaurants in Las Vegas, NV for every budget that serve all types of foods. There are many hidden gems that even locals are not aware of and then there are the many fantastic restaurants throughout the casinos. Most of  your well-known chain restaurants are here as well along with many new chain restaurants that are indigenous to Las Vegas. But, if you have an eclectic taste and appreciate authentic cuisine, you certainly will find it in Vegas.Entertainment. How about performing arts from all of the cirque shows, the many other fantastic shows like Jabbawockeez and The Jersey Boys as well as opera, symphony and plays at the Smith Center, UNLV basketball, comedy shows, multiple music venues on and off the strip, the casinos and concepts much like the Linq and downtown summerlin which includes shopping, bars, restaurants, shops and the high-roller. Don’t forget the helicopter and hot-air balloon rides. Soon, Las Vegas may be adding a hockey team. We mentioned shopping earlier… there is an immense amount of possibilities for shopping in Las Vegas—from Downtown Summerlin to Fashion Show Mall. Speaking of Downtown, with spots like The Container Park and Freemont Street, Downtown Las Vegas has become a destination spot of its own. Many thanks to the Downtown Project.Proximity. In the event you need to get out of Las Vegas, NV and experience more Las Vegas’ proximity to “more” may go unmatched. Need the ocean? How about a 30 minute flight or 4 hour drive to Southern California beaches. Want to experience a big city? How about a 4-5 hour drive or 30 minute flight to San Diego, LA, Scottsdale, or a 1 hour flight to Denver, San Francisco or Salt Lake City? Have a bucket list of natural wonders? You are just over a 2 hour drive to Zion, a 3 hour drive to Havasu Falls a 4 hour drive to the Grand Canyon and 4 hours to Sedona. That is an incredibly short list.Weather. Sure, it gets 115 here in Las Vegas, NV and yes, we listed that as a con. But what about the rest of  the year. Well the rest of the year is a pro. Let’s start with winter. Winter temperatures last anywhere from 1 to 3 months max and are accompanied by little to almost no snow other than Mt. Charleston which is a Spring Mountain peak located about 45 minutes from the Las Vegas Strip that is capped with snow throughout at least half of the year. Even if winter temperatures last 3 months, you can count on them being sprinkled if not saturated with spring-like weather. Both Spring and Falls are beautiful in Las Vegas. Early fall and and late spring are more like summer in other states, but with the dry air, the temperatures are more than bearable. So, there you have it… nice, sunny weather throughout ¾ of the year… unless you like it HOT. Oh, we should add that when the weather isn’t so sunny in Las Vegas, NV it is usually welcomed. Not only because it is nice to get some rain or cloud cover from time to time, but the fronts bring visually interesting cloud formations over the surrounding mountains which can create spectacular skyscapes.Business Climate: Nevada is one of a handful of states with no corporate or individual income tax. Additionally local municipalities are known as being friendly to business and in many cases encourage new business or expansions through tax incentives and accelerated land entitlements in redevelopment areas. The Tax Foundation ranked Nevada number 3 in its 2015 State Business Tax Climate Index, behind the thinly populated states of Wyoming and South Dakota. Certainly, the State of Nevada and the Office of the Governor have been very proactive in courting new businesses to Nevada. Tesla’s recent selection of their battery site in Northern Nevada is in part, a manifestation of these efforts. http://taxfoundation.org/article/2015-state-business-tax-climate-indexWe could keep going! Consider this the short list! If you feel we are missing an attraction to Vegas, please feel free to leave a comment and we will consider adding that to the blog. We look forward to hearing from you! http://lasvegashomes.com/blog/806/why-would-anyone-want-to-live-in-las-vegas-nv?/ Mon, 02 Mar 2015 04:18:07 -0800