Spring is in full swing, and so are home sales across the Las Vegas Valley! According to the latest report from Las Vegas Realtors, the housing market in Southern Nevada experienced a significant uptick in April, with both single-family homes and condos/townhomes seeing notable increases in sales and prices. Let’s dive into the numbers: Single-Family Homes: The median price for existing single-family homes soared to $469,000 last month. That’s a noteworthy 9.1% increase compared to April of the previous year when the median price stood at $430,000. Even compared to March 2024, which boasted a ..read more

“The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of Spring Homebuying Season,” said Sam Khater, Freddie Mac’s Chief Economist. “On average, more than one-third of home sales for the entire year occur between March and June. With two months left of this historically busy period, potential homebuyers will likely not see relief from rising rates anytime soon. However, many seem to have acclimated to these higher rates, as demonstrated by the recently released pending home sales data coming in at the highest level in a year.” News Facts The 30-y ..read more

Stunning golf course views of the LV National Golf Club (formerly Stardust Country Club). The Paradise Palms Community has recently been designated an “Historic Neighborhood” by Clark County. This terrific property features 4 bedrooms (2 ensuites) and 3 bathrooms, a heated lap pool with a large “martini shelf”, a covered patio, and 2 car garage. Recent remodeling provides a stunning new kitchen, re-lined sewer pipes, updated bathrooms, tankless gas hot water, smooth walls, and more. It’s a classic Mid-Century Ranch in the front. On the inside, you’ll find everything the Mid-mod enthusiast love ..read more

Get ready to elevate your summer nights in downtown Las Vegas! The Plaza Hotel & Casino is set to illuminate the skyline with a dazzling display of fireworks every Friday, starting from Memorial Day weekend on May 24th. This enchanting spectacle, named the ‘Welcome to the Weekend Summer Friday Fireworks’ show, promises to ignite the skies with wonder and excitement, creating unforgettable moments for locals and tourists alike. Jonathan Jossel, the CEO of the Plaza Hotel & Casino, expressed the hotel’s enthusiasm for spreading joy beyond traditional holiday celebrations. “The Plaza is r ..read more

“The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates trend higher, potential homebuyers decide whether to buy before rates rise even more or hold off in hopes of decreases later in the year. Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.” News Facts The 30-year FRM averaged 7.10 percent as of April 18, 2024, up from last week when it averaged 6.88 percent ..read more

Have you been saving up to buy a home this year? If so, you know there are several expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains: “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.” While how much money you may get in a ..read more

“Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s Chief Economist. “While newly released inflation data from March shows a trend of tiny movement, the financial market’s reaction paints a far different economic picture. Since inflation decelerated from 9% to 3% between June 2022 and June 2023, the annual growth rate of inflation has remained effectively flat, ranging from 3.1% to 3.7% and averaging 3.3%. The March estimate of 3.5% annual growth is in the m ..read more

Before you buy a home, you must plan for all the costs you’ll be responsible for. While saving for the down payment, don’t forget you’ll want to prep for closing costs. Here’s some helpful information on those costs and how much you should budget for them. What Are Closing Costs? A recent article from Bankrate explains: “Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .” Your closing costs are the additional fee ..read more

“Mortgage rates showed little movement again this week, hovering around 6.8 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near term. On the plus side, inventory is improving somewhat, which should help temper home price growth.” News Facts The 30-year FRM averaged 6.82 percent as of April 4, 2024, up from last week wh ..read more

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign. But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may cost you in ..read more