Las Vegas, Nevada Real Estate Agent’s Las Vegas Homes, Condos, Land, Commercial Real Estate and Personal Blog

As I stated in the last blog post, it is not helpful to make a decision on buying a Las Vegas or Henderson home based on the median and average prices, or the newspaper articles which base their “expert prediction” on these numbers.  As I stated before, expert predictions are based on sold prices and show the market reality of a few weeks to a few months ago. As for the future, I can easily predict what these experts will say in a few weeks, the market has gone down further by another 3% to 5% based on today’s asking prices by sellers and working in a discount due to fact that it is a buyer’s market.   Please take look at the market snapshot for Glengarry . As you can see the asking prices for model 2462 at this time is about $295,000 and the sold prices will be lower by $10,000-$20,000.A purchase worth noting is 2830 Kinknockie Wy. This home was purchased for $241,000 in Dec-2007. Even at the current selling prices which are about $280,000 for the model 2446 in Glengarry it is about $40,000 below market. Do you think that if the buyer, which is a corporation specializing in flipping properties, would have found this bargain if they went with expert predictions and all the doom and gloom in news paper articles? If these professionals who make their living buying and selling houses don’t pay any attention to these experts, why should you? I personally don’t see prices for model 2462 going much lower than $265,000.

My point is that in today’s Las Vegas real estate market conditions bargains can be found that would protect buyers against possible future price drops. A bargain is a bargain. What you need are good agents (guess who that would be, obviously my team) to point you toward the bargains and help you prepare properly to take advantage of them.

Please note that Las Vegas Homes and Condos Market Snapshot gets all its data from Las Vegas MLS and only shows data provided by Realtors. It doesn’t show transactions that don’t involve a Realtor such as property auction of foreclosure sales. There is a discrepancy between the price shown by the Market Snapshot and the selling number which I provided you in the last post for one home. My number has been verified by Clark County and is more accurate.

Funny:  Someone asked a wise man about the biggest contributing factor to today’s increasing divorce rate. “Weddings” was his answer.