[lvoc]

An interesting thing...

Been working a couple of high end clients the last couple of weeks. Over a million.

Primarily Summerlin above $300 PSF and the NW above $200 PSF.

Interesting thing is that both have turned flat or down a couple of percent over the last 6 months.

Clearly there in Tournament Hills and such...maybe 3 or 4 percent.

That really is a lovely place. Drove passed Sheldon's place...what 60,000 SF? But nice wide streets beautifully landscaped.

Just to point out it is not all perfect Sheldon's old house is being redone and screwing up the local neighborhood. Nice to know even the very well off suffer with construction .

[ohhboy]

Originally Posted by 007 license to sell

I have clients look at condotels condos all the time on my website because they are so much cheaper priced than a regular high rise condo. There's a reason for that it's because they have been found to not be a good investment.

Here are some links to articles that address if owning a condotel condo is a good investment or not. These are not biased based articles put out by hotels or any other entity that may have a monetary interest in that type of property whether selling or leasing such a property. I don't share this info to discourage potential buyer but to help a buyer make an informed decision whether a condotel condo is for them or not.

Click link below to view:
Real Estate Q&A: Are Condo Hotels A Good Investment? - Forbes

Click on the link below to view:
StreetEasy: Talk - Condo Hotels Good or bad investment? - StreetEasy

A condeltel that rents for $1700 a month bought for half a million sucks. Now at $170,000 it doesnt suck so much.




Be fair in your reporting- [rude] .... loll.

[007 license to sell]

Unfortunately with prices going up it's pricing some of my clients out of the market along with stricter lending standards.

Here is the latest on Vegas home appreciation and inventory.

Click link below to view:

Las Vegas home prices tick up 1.1 percent

Source: reviewjournal.com

[ddrhazy]

Link doesn't work, repost?

[observer53]

There is NOTHING in the TOS that prevents real estate agents from giving their opinions about the local market. And, they don't all have the same opinions. There's room for all viewpoints, EXPRESSED WITHIN THE TERMS OF SERVICE.

[airics]

Originally Posted by 007 license to sell

Unfortunately with prices going up it's pricing some of my clients out of the market along with stricter lending standards.

Here is the latest on Vegas home appreciation and inventory.

Click link below to view:

Las Vegas home prices tick up 1.1 percent

Source: reviewjournal.com

If 1% is pricing your clients out of the market, then they are stretching their budget too far….

[Raiderman]

Originally Posted by airics

If 1% is pricing your clients out of the market, then they are stretching their budget too far….

Right? A $500,000 house becoming $505,000 and your clients are going to throw in the towel?? Seems odd...

[lvoc]

Originally Posted by Raiderman

Right? A $500,000 house becoming $505,000 and your clients are going to throw in the towel?? Seems odd...

I expect 007 would argue it is the cumulative effect of the last couple of years.

In my view prices overall have been flat since June. And the only real change I see is the expensive properties dropping a few percent.

Got to be tough on the new build guys trying to hold a gap of $100,000 or so.

Spring will bring enlightenment...or further confusion. RE is like that.

[von949]

What in the world is a hybrid rate?

[BrocktonBoxers]

Haven't looked at Vegas market in a while, the last time I looked there were still 80k still in the foreclosure process that the banks were still holding with 50k empty. How has it changed ? I still know a few people who haven't paid their mortgage in 4 years and still the banks haven't taken them back yet. One is well over a million they didn't qualify for and gov help because the loan was well over the 600k plus limit.