Las Vegas Home Trends: Price Per Square Foot

The Las Vegas area real estate market has been steadily improving over the last several years.

This graph of home prices per square foot from the last 5 years really paints the picture.  Keep in mind this is an average price per square foot across the Valley.  Each neighborhood is different.  And luxury homes are over $200/square foot.

sales-price-by-sf

For a complete market analysis of a specific neighborhood or area, contact me directly.

To find out INSTANTLY what your home is worth, CLICK HERE.

Looking for a home?  Search below for all homes available for sale.

Living in an Active Adult Community

024_community-center027_community-centerYou may be at a point where you are thinking about retirement.  I work with many clients who are planning the next phase of their life, and many times an active adult community is the perfect match.

How will you know if it’s the right choice?  While there are many reasons people flock to these communities, I find that most people usually choose active adult communities for one specific reason.

Ask yourself these questions to see if one might resonate with you.  Not everyone chooses for the same reason, but age-qualified communities seem to meet many needs of retired (or almost retired) residents.

  1.  Would you enjoy a community of your peers?  In an active adult (or age-qualified) community, at least one occupant must be 55 or older and no occupants can be younger than 18.  You may have visitors under 18, but they cannot live there.028_indoor-pool
  2. Are you looking to meet new people or engage in activities?  You will have an opportunity to meet other people through the activities, fitness center or simply walking in the neighborhood.
  3. Would you want to live in an all single-story community?  One of the benefits of living in an age-restricted community is that there are no two story homes looming above!
  4. Are you planning to travel?  In these communities, some people travel or are snowbirds.  Neighbors watch out for your home.
  5. Do you like to go to the gym or take classes for exercise?  Most communities have state-of-the art fitness centers and classes for aerobic or yoga exercise.

For more information on the different communities in Las Vegas and Henderson, contact me directly.

To see homes in age-qualified communities in Henderson and Las Vegas, click the links below.

Henderson Age Qualifed (55+) Homes

 

Las Vegas Age Qualified (55+) Homes

 

 

2374 Amana Dr

$269,000 ~ 3 BEDROOM ~ 2 BATHROOM ~ 2 CAR GARAGE ~ 1,768 SF ~ CORNER LOT!

FANTASTIC Franklin model on huge corner lot! Freshly painted! Largest model in Solera with 3 bedrooms, open living/family to kitchen and nook. Formal dining area, master bedroom suite separate from others. Tile flooring in entry, hall and all wet areas.

Low maintenance desert landscaping, covered patio. Perfect retirement 55+ community with fitness center, activities, indoor pool in the hills of Anthem.

2012-09-06 09.02.55 amana-kitchen

CLICK HERE for more details about this home!

 

Want to see other homes for sale?

118 Turtle Ridge Ave

$425,000 ~ 4 BEDROOM ~ 4 BATHROOM ~ 3 CAR GARAGE ~ 3,338 SF ~ STRIP VIEW!

This GORGEOUS family home comes with a FANTASTIC floor plan in a gated community, close to South Las Vegas Blvd! Stunning vaulted entry, laminate wood & tile flooring throughout.  HUGE family room open to kitchen with granite, stainless appliances & breakfast nook. Large den downstairs for office/hobby room.

Upstairs, you’ll find a HUGE master suite with sitting area, balcony and STRIP VIEWS! Three more large bedrooms with private or jack & jill baths, ideal for guests and children. This home backs to a future park! Landscaped, low maintenance backyard with easy potential RV parking.

View the Tour

 

CLICK HERE to see more information.  Contact me directly at 702-266-7193.

Want to see other homes for sale?

4 Key Signs Indicate a Stable Housing Market (yes, even in an election year)

With the election only a month away, I find many clients wonder…is this the right time to buy or sell my home?

Let’s take a look at the past year with data from the Realtor® MLS database.

  1. Price increases are steady.  Over the past 12 months, the median list price has been rising steadily.
  2. The number of days on market remains steady, decreasing slightly.  Both of these factors indicate we are heading towards a Sellers market.

price-to-dom-sept-2016

3. Inventory has remained stable, fluctuating between a 3 to 4 month supply of homes for sale.

4. The number of sales has been consistent (Oct numbers are not in yet).

inventory-vs-sales-sept-2016

Prices are creeping up, and buyers that were looking in the Spring can certainly see (and feel) the price increase when searching for a home.  They might need to be in that next price category to get the same type of home.

Interest rates will go up after the election.  No doubt about it.  Prepare now whether you plan to buy or sell this Fall or Spring 2017.  And always feel free to contact me about your specific real estate needs.  Happy to help you or your friends and family!

VickiSignatureBlack

Vicki Simons ~ 702-266-7193 ~ www.GetVegasHomes.com ~ vicki@getvegashomes.com

Improve Your Credit Score

Your credit score or FICO matters when purchasing a home. A high FICO can get you a lower interest rate saving you lots of money, so understanding how to improve your credit score is key. If you don’t know what your credit score is, go to www.MyFICO.com. This is the best resource and provides the most accurate credit score similar to what the banks will pull.

What makes up your FICO, you ask? Here are the five parts to your credit score:

  1. Your Payment History (about 35%)
  2. How Much You Owe (about 30%)
  3.  Length of Credit History (about 15%)
  4.  New Credit (about 10%)
  5. Other Factors (about 10%)

How do you improve your score?

  1.  Avoid Multiple Credit Inquiries. If it looks like you are opening too many different credit cards or lines of credit, it will reduce your score. For example, if you have credit inquires for a ‘no interest for a year’ store credit card, then a credit inquiry from a car dealership and another credit inquiry from a mortgage provider, it appears that you are going on a shopping spree. However, multiple inquires from one type of establishment (like a mortgage company) over a short period of time only represents one inquiry.
  2. Reduce Your Debt. If all of your debt (including mortgage) exceeds 36% of your monthly salary, you will probably need to lower your debt in order to get a loan.
  3. Pay on Time (or Early). If you are consistent with this over several months, you’ll really see your credit score improve. Setting up automatic payments and always paying more than the minimum due will help.
  4. Wait a Year if You’ve had Credit Problems. You will be penalized less for problems that are more than a year old.
  5. Get Your Finances in Order. Avoid major purchases, like a car loan, prior to purchasing a home. Also, transferring debt from one credit card to another also helps. And, paying off credit cards is ideal.

Homeownership: A Key to Well Being in Retirement

There has been much talk about homeownership and whether it is a true vehicle for building wealth. A new report looks at the impact owning a home has on the financial wellbeing of people closing in on their retirement years (ages 55-64).

In recently released study by the Hamilton Project, Ten Economic Facts about Financial WellBeing in Retirement, it was revealed that:

1. Middleclass households near retirement age have about as much wealth in their homes as they do in their retirement accounts.

“Over the past quarter century the largest single source of wealth for all but the richest households nearing retirement age has been their homes, which accounted for about two fifths of net worth in the early 1990s and accounts for about one third today.”

2. Home equity is a very important source of net worth to all but the wealthiest households near retirement age.

“Home equity is an important source of wealth for middle income households, accounting for more than one thirdof total net worth for the second, third, and fourth quintiles of the net worth distribution… The fifth quintile has a much larger share in business equity—almost a quarter—than any other quintile. (The figure leaves out the bottom quintile of households because they have negative net worth. It is likely that these households will rely almost exclusively on Social Security in retirement.)”

Here is an asset breakdown for the middle 20% of Americans determined by median net worth ($165, 720):

Retirement Well-Being