Median price doesn’t measure home price gains, losses. What does?
One of the most significant errors made about housing market reports is that they mistake price per square foot ratio of sold homes with the median price. “Las Vegas home prices set record in June as sales rebound,” wrote Las Vegas Review-Journal on July 7th. The reason is that the …
Silly low-ball offers on our Las Vegas home listing
Unfamiliarity with the housing market reports result in extremely silly low-ball offers on Las Vegas home listing In a Realtor’s forum, I saw a post from a Realtor complaining about a new home salesperson refusing to show her offer to her supervisor, saying that she did not doubt that her …
No tsunami of foreclosures in Las Vegas due to COVID-19
Positive equity should prevent a tsunami of foreclosures in Las Vegas in 2020 In this post, we will explain why we shouldn’t see an avalanche of foreclosures in Las Vegas as a result of the COVID-19 recession. The Great Recession of 2007-2011 resulted in a tsunami of foreclosed homes, condos, …
Pros and cons of mortgage forbearance of 2020
What is a mortgage forbearance, and what is it not? To protect homeowners from the Coronavirus hardship the United States government came up with the CARES Act, which includes six months of forbearance for a government-backed mortgage loans, which is extendable by another 180 days. As of June 3, 2020, …