Market Statistics Las Vegas

Home Values

Home values have been increasing and as a result we have seen some low appraisals in the last few months. Appraisers don't like to believe home values are increasing, so sometimes we have to push them to understand the market. And as a result of the push, we are getting your Las Vegas' home sold for top dollar. We are moving into our slower selling season, which is very typical for September and the following months.

Buyers are Shopping: Demand

Builders are "hard at it" and there are new home construction model home communities springing up all over town. At the Radcliffe Group we have great builder relationships, and can help you get the best home for the least amount of money. We just sold a great home on an amazing deal with Lennar Homes where we were able to get the buyer closing costs, and flooring upgrades included at no additional cost. With rates as low as they are, it's a great time to buy.

Interest Rates

Interest rates are extremely low and we anticipate an increase shortly. We don't know when it will happen, likely in the next month or so, as the FED is showing signs of increasing them, and we likely won't see rates this low again for years. It's a great time to buy as low rates mean increased affordability.

Downtown Summerlin/ Fashion Show Mall

New restaurants going into the Downtown Summerlin area; its as awesome project, and we will see continued growth for some time. Restaurants in the area: FOGO de Chao, Pancho's and Shake Shack just opened. The Fashion Show Mall is deep in new construction, with a great expansion project underway.

Market Statistics

There are currently 9,500 active home on the market in the greater Las Vegas area, 1,800 of them are condo/ town homes, 5,850 are contingent pending to be sold, with 2,000 of them short sales, leaving 3,800 as traditional sales under contract. 3,100 homes sold last month in Las Vegas, which is down a bit from our busy Summer months, which is typical this time of year, were as we were seeing approximately 3,800 home sales in Las Vegas per month.

The Radcliffe Group

Our team is growing! We just Welcomed Stacy and Ryan Lynch to the Team. Out of more than 10,000 real estate agents in the greater Las Vegas and Clark County area, Dave Radcliffe ranks among the Top 1% of Realtors® as number 101 during the second quarter of 2015. Dave Radcliffe ranked number 1 in 2014 as the top producing individual out of 172 Realtor-Agents in his office. Dave has a team of top producing agents and ranks consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas because he is all about customer service and utilizing the best resources in the real estate business. The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection.

As a retired police officer, Dave is passionate about giving back to the service community and dedicates much of his time giving and supporting the Las Vegas Metro Police Department, Firefighters and Military at Nellis Air Force Base. Military, Fire and Law enforcement never pay a full commission when they work with the Radcliffe Group. The Radcliffe Group can assist you in your Las Vegas PCS or relocation, New Home Construction purchase, Condo and Luxury Home purchase. Specializing in helping Las Vegas and North Las Vegas homeowners sell their home for the highest market value, Dave and his team will help you yield your highest profit. Call 702-379-3401 when it is time to sell your Las Vegas, Summerlin, Centennial Hills or North Las Vegas Home.

Check out and subscribe to our YouTube Channel and follow our Las Vegas Real Estate Blog at: www.DaveRadcliffeVegas.com

Written by Nickel Lowman

For Dave Radcliffe, The Radcliffe Group

Keller Williams Realty Southwest

702-379-3401

www.DaveRadcliffeVegas.com

David Radcliffe - Agent with David M. Radcliffe, Ltd., Keller Williams Rea

Las Vegas Home Values are Increasing! Will you have an Appraisal Issue?

Las Vegas Home Values are Increasing, What does this mean for you?

The real estate market is moving so well, we are pushing the ceiling of value right now, unfortunately that means we may have some appraisal challenges. The great news is we are here to represent you and help your home overcome these challenges. Last month my team, alone, saw 3 transactions where the home value came in under contract price. $40,000-$60,000-$80,000 values lower than purchase price, means we get to settle for the lower price, or challenge the appraisal. We are challenging the appraisal and asking for an appraisal reconsideration. We are even filing complaints against appraisers. When a property comes in undervalue at a mere $5,000 under contract, it’s often a mistake or appraiser ego getting in the way. Our job is to sort through it and yield you the highest return possible when you sell your Las Vegas Home.

The Greater Las Vegas Association of Realtors “reported the median price of homes sold through its Multiple Listing Service during June was $220,000, up 10.1 percent from $199,900 one year ago. Meanwhile, the median price of local condominiums and townhomes, including high-rise condos, sold in June was $115,000. That was up 5.5 percent from $109,000 one year ago.” Appraisers just don’t seem to get it. We are seeing issues because buyers are willing to pay what the contract says, while an appraiser doesn’t want to value the home for the current market. The increase in value is great news for home owners looking to sell their Las Vegas home, as the market is appreciating at a healthy rate. Compared to June 2014, 14.2 percent more homes and 6.3 percent more condos and townhomes sold this June. There are fewer homes on the market than what is considered a balanced market, available homes in Las Vegas “for the month of June was 13,740, down 0.7 percent from one year ago.”

“Compared to one year ago, total sales volumes in June were up 23.5 percent for homes and up 13.2 percent for condos.” With average days on market at approximately 60 days, inventory is moving quickly. It’s a great time to list and sell your Las Vegas, North Las Vegas, Centennial Hills, or Summerlin home.

http://daveradcliffeltd.com/valuation-form/

Are you interested in learning what you Las Vegas home is worth? Let us know how we can assist you, we will come out to the house and provide you with a FREE Comparative Market Analysis when you are interested in selling your home.

Our job is to get maximum value for your home when you are ready to sell. Dave Radcliffe ranked number 1 in 2014 as the top producing individual out of 172 Realtor-Agents in his office. Dave and his team continue to rank in the Top 5 producing teams month after month in 2015 at Keller Williams Realty Southwest Las Vegas because he is all about customer service and utilizing the best resources in the real estate business. The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection.