From time to time, my posts will reflect information on specific local communities with the pros and cons associated with living in them. This post gives information on Boulder City, one of my favorties. Boulder City is an interesting option for anyone considering relocating to the Las Vegas area, or for that matter a possible option for any local who wants a little different lifestyle. Unlike most of the rest of the communities in Clark County, Boulder City has not focused on growth over the last couple of decades. In fact, […]
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The last 5 weeks have shown the first significant bump up in prices in over 6 years. The median selling price of a free-standing home 5 weeks ago was $120,000. The median price now is $128,000. The last time I showed prices this high was February 2011. Inventories of homes for sale are down 40% from just two months ago. As I was running the numbers for the various local planned communities I was shocked by the lack of inventory in some of the most previously active communities. Silverado Ranch […]
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Where have all the listings gone? Foreclosure and short sale listings are way down in the Las Vegas area. The conventional wisdom, to which I happen to agree, is that this is the result of legislation that took affect October last year. Nevada’s state Assembly passed a measure designed to crack down on “robo-signing,” where bank employees signed off on huge numbers of legal filings while falsely claiming to have personally reviewed each case. This issue is a complicated one, but it looks like lenders are […]
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I have for most months since July 2006 figured the median selling price for a free-standing home up to and including this month, February, 2012. It has been quite a slide. I built a graph to show this slide in more physical terms (see below). The high was a median price of $319,000 in July 2006. As of February 2012 that had fallen off to $120,000. That is better than a 62% decrease. Per the chart below the steepest drop off was from around June 2007 to June 2009. For […]
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This question or questions as to the crime rates and relative saftey of specific areas in the valley are almost always asked by my clients. There is a short answer to the question as to areas. Rule of thumb, the farther you are away from the center of the city the safer you will be. However, even in the central areas there are “islands” of relative safety. I’m going to stop using the work relative, so just assume it whenever I use the work safe. The guard gated Las Vegas Country Club […]
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Welcome to my new post! It is a cold day in December ( at least by Las Vegas standards). Good time to stay warm inside and do some publishing! Below is some information as well as a graph that shows how the foreclosures over the last four years have been distributed throughout the valley. The last four years have resulted in over 100,000 foreclosures. By most estimates there will be another 100,000 over the next four years. That will result in 36% of all privately held homes in this area lost to […]
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Whenever I am in the northern part of Summerlin I am always impressed with the ambience of the area, particularly opposed to some of the newer planned communities and even the newer areas of Summerlin. The homes here are a little older than some are comfortable with, but the planned combination of homes, common areas, retail and commercial areas is, in my opinion, unsurpassed in the Las Vegas Valley. Homes range from smaller condos to large customs. At the time of this writing, prices range from $40,000 to just under $2,000,000. The […]
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Top five on Forbes list for worst places to live/retire? Yep, that’s true, according to Forbes. The primary reason they use is that there has been such a dramatic drop in home values. Phoenix, our neighbor, is on the same list and even ranked worse! I am usually interested in the Forbes top this or that, but I find the latest publication poorly researched and silly at best. Question, do you think that the Las Vegas area was a better place to live when the median price for a free-standing home was $319,000 […]
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Home sales way up! Sales of homes in the Las Vegas area market have increased greatly over the last few years. The fourth quarter of 2007 was the low point with only around 4,500 housing units sold. The second quarter or 2011 shows around 15,000 unit sold. See graph below. Prices way down! Prices have been in a free fall for several years. Below is a graph that illustrates this. I have personally documented the decline for free standing homes since July 2006 when the median selling price was $319,000. […]
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Top communities to go for a walk in – Summerlin – The above photo was taken in Summerlin, my choice for best local walking community with over 150 miles in walking trails and over 100 parks. It gets my first place vote by a wide margin. Not only are there extensive walking trails, but from many locations in Summerlin you can walk to lunch, do some shopping or have a picnic. Desert Shores – This is another great community for walking. The three lakes at Desert Shores plus the beautiful tree lined streets […]
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