LAS VEGAS, NV – After months and months of skyrocketing rent increases that drove very real affordability concerns, the rental market in Las Vegas has finally begun to show signs of stabilizing in a positive manner. While units are still being leased at a healthy rate in Vegas and landlords are still purchasing buildings and developers are constructing new projects, rent increases have been dialed back and tenants have even begun to negotiate rental rates once again, a tactic that was pretty much nonexistent for the past couple of years, experts say. Whereas rent hikes of anywhere from $200 to $1,000 were…
LAS VEGAS, NV – Due to rising interest rates on home loans marking the end of cheap borrowed money – combined with national inflation currently at a 40-year high – home prices in Las Vegas have actually dropped for the second consecutive month in a row after over a year of consistent, record-setting monthly gains, leading experts to remark that the market in Southern Nevada is “definitely turning.” In July, the median sales price of previously owned single-family homes was $465,000, representing a drop of 3.1 percent – amounting to $15,000 in value – from June, at which time the median sales…
LAS VEGAS, NV – After a long period of time that saw Las Vegas home prices continuously increase and break records month-after-month, the inevitable has finally taken place: according to a report released Wednesday by Las Vegas Realtors (LVR), local home prices dropped for the first time in over two years, an occurrence that experts say is proof that the market in Southern Nevada is finally beginning to stabilize. The median price of existing single-family homes sold in Las Vegas in June dropped to $480,000, down from the all-time record-setting amount of $482,000 that was set in May; this represents the…
LAS VEGAS, NV – During the depths of the COVID-19 pandemic the housing market unexpectedly started to boom, propelled by record-low interest rates on home mortgages and buyers enticed by acquiring homes with cheap money. But as demand continued to increase, home prices began to swell, with buyers taking solace in the fact that interest rates nonetheless remained very affordable. Unfortunately, this is no longer the case, as an attempt to lower out-of-control inflation and prevent a potential recession, the Federal Reserve has begun increasing their interest rates. This, sadly, has correspondingly caused a significant jump in the cost of…
LAS VEGAS, NV – The housing market in Las Vegas has experienced a historic degree of growth in the past year, with fierce competition for the city’s limited inventory resulting in fast sales, multiple offers – many well above the asking price – with cheap money in the form of low-interest mortgage loans fueling the activity to levels not seen before the mid-2000’s recession. However, one vital piece of the puzzle – and one of the main driving factors – of that sales activity is quickly going away. Borrowing costs have been steadily rising as of late, and the resulting higher-interest home…
LAS VEGAS, NV – A new report indicates the ever-climbing rents in Las Vegas have reached a point where tenants have to devote a significant portion of their respective incomes to housing costs, increasing affordability concerns for a region that has otherwise always been known for its low cost of living when compared to other parts of the country. The Realtor.com report states that the median rent in Las Vegas has reached $1,600 per month; this represents approximately 39 percent of the average monthly income in Southern Nevada, a number which is raising eyebrows, especially when compared to the median rent elsewhere…
LAS VEGAS, NV – Due to ever-increasing demand and a lack of inventory, the cost of apartments in the Las Vegas valley continues to climb, with the median monthly price of a one-bedroom unit hitting its highest level ever, a development that is continuing to stoke concerns over affordability among residents in the region. Reports indicate that roughly half of the valley’s residents are renters, and the rapidly-increasing costs of doing so are starting to weigh heavily upon them; the monthly rent for a one-bedroom apartment currently ranges between $1,200 to $1,700, with the median price being $1,500. In stark contrast,…
LAS VEGAS, NV – Amid skyrocketing demand and a shortage in options on the open market, finding affordable housing in Las Vegas is becoming difficult to achieve for some residents, citing steadily rising rents in the valley – which reports say are seeing some of the highest increases nationwide – as the reason why. Some Southern Nevada residents are reporting that the cheapest monthly rents they are encountering when looking among available inventory of two-bedroom apartments on the market is ranging from approximately $1485 in the valley’s northeast area to as high as $1700 in Henderson and $1850 in the southwest. In…
LAS VEGAS, NV – Low inventory and high demand of apartment units in the Las Vegas Valley are causing rents to skyrocket to near record-breaking levels, a sign of Nevada’s economic recovery as COVID-19 ebbs into its final days. However, the continuing increases in rent in Clark County has come with a downside as well; hardship for some vulnerable local area residents who may have already been having difficulty keeping up with their payments due to the pandemic. Rents in Las Vegas, while still well below the national average – as of June 2021, the average rent in the Las…
LAS VEGAS, NV – According to the Eviction Lab at Princeton University, Clark County, Nevada is potentially facing more evictions than any other area in the United States when the Centers for Disease Control and Prevention’s (CDC) eviction moratorium ends July 31, reports say. The Eviction Lab at Princeton University, according to their website, “creates data, interactive tools, and research to help neighbors and policymakers understand the eviction crisis.” They analyzed data of the average number of eviction filings in Clark County between the years of 2016 and 2019 and compared them to ones filed between January 2020 and May 2021. This…
In Southern Nevada, “Full Price Now A Weak Offer” As Las Vegas Real Estate Scene Commands Top Dollar
LAS VEGAS, NV – Following a slight dip due to the ongoing COVID-19 pandemic, the real estate scene in Las Vegas has not only recovered, but is currently in such a state that an offer for the requested price point of any given home is quickly becoming a “weak offer,” according to recent reports. Jordan Rodriguez, 26, had placed a two-story house on the market in Las Vegas less than a month ago; he had originally purchased the home in 2016 for $293,000, and was selling it for $560,000, which was $10,000 over the asking price. Rodriguez received multiple offers immediately,…
Las Vegas Short-Term Rentals Short Term Rental Property Management With companies like AirBnB and VRBO becoming increasing popular over the last decade, short term rentals are an excellent way to increase monthly profit on any residential real estate investment. Our goal is simple: we focus on helping short term rental properties book more nights and earn more revenue. We do the heavy lifting of guest interactions and listing optimization so you spend your time doing whatever matters most to you. Whether you have an STR currently and are looking to outsource property management or you are just starting out in the…
