Las Vegas Homes For Sale - Emergency!
Рет қаралды 57,978
2 ай бұрынLas Vegas Homes For Sale - Emergency! In today's economy, Americans are increasingly resorting to heavy debt burdens to afford necessities, particularly homes, amidst soaring prices and stagnant wages. This trend is especially pronounced in popular cities like Las Vegas, where Las Vegas homes for sale have become emblematic of the broader affordability crisis gripping the nation. The situation has reached emergency levels. Currently, there are approximately 3,500 Las Vegas homes for sale and the median Las Vegas homes for sale price has increased 10% in the last year from $415,000 to $455,000. Despite being perceived as symbols of opportunity, Las Vegas homes for sale now serve as stark reminders of the financial barriers facing aspiring homeowners. Inflation and corporate greed are the biggest contributors to the lack of overall affordability in this economy. This could cause interest rates to stay high which could eventually cause a potential decline in home prices, including the many Las Vegas homes for sale. This will also likely lead to an overall increase of housing inventory throughout the nation, including Las Vegas and nearly all Las Vegas homes for sale. As a future home buyer, being patient is still a potentially wise option before buying a home, especially any of the Las Vegas homes for sale. As interest rates and mortgage rates remain elevated, homes prices, particularly Las Vegas homes for sale, will likely see a pricing correction. Home prices will likely not continue to go straight up without seeing a correction so waiting things out is a potentially wise option, especially if you're thinking of buying one of the thousands of Las Vegas homes for sale.
🚨 Subscribe to this channel here: 👇👇👇👇👇👇👇
/ @lasvegasliving9237
If you are going to be living in Las Vegas Nevada then this is the channel for you! We tell you what it's like to move to Las Vegas and make videos about Las Vegas real estate every week. We work with clients from all over the U.S. that are relocating here and we ABSOLUTELY LOVE IT! Reach out to us day/night/weekends if you are moving here. We've got your back when moving to Las Vegas.
Jerry Abbott
NV License # S.0183274
Summit Properties
📲 Text: 702-550-9658
📲 Email: jerry@jerryabbottrealty.com
🚨 Subscribe to this channel here: 👇👇👇👇👇👇👇
/ @lasvegasliving9237
Learn more about Las Vegas, Nevada here:
✅ en.wikipedia.org/wiki/Las_Vegas
✅ VisitLasVegas.com
✅ www.LasVegasNevada.gov
✅ vegas.eater.com/
All media clips and articles are publicly available information unless otherwise noted.
DISCLAIMER: This video content is intended only for informational, educational and entertainment purposes. Neither Las Vegas Living or Jerry Abbott are registered financial advisors. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. Your use of Las Vegas Living's KZfaq channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZfaq, E-mail or SMS) for communications with Las Vegas Living does not establish a formal business relationship.
@lasvegasliving9237 2 ай бұрын
In the current economic climate, Americans are increasingly burdened by heavy debt loads to afford necessities, particularly homes. This trend is glaringly evident in popular cities like Las Vegas, where the affordability crisis has reached emergency levels. Las Vegas homes for sale, once considered attainable assets, now symbolize the daunting financial barriers facing prospective buyers. The exorbitant prices have rendered homeownership a distant dream for many individuals and families. If you’re looking to buy a home, whether in Las Vegas or elsewhere, it is essential that you do not overbid on the price as many homes are significantly overpriced. It is wise to be patient if possible and wait for home prices to recede, even if it takes most of 2024 for that to happen. As a local Las Vegas realtor, I help people make the move into Las Vegas all the time. Reach out to me anytime if you're considering moving to this beautiful city. It would be my pleasure to help you find your perfect Las Vegas dream home. Jerry Abbott - REALTOR Summit Properties Call/Text: 702-550-9658 Email: jerry@jerryabbottrealty.com Website: jerryabbottrealty.com
@ConstitutionCurt 2 ай бұрын
Imagine buying a $3.6 mil home with no view and another house right behind you. People have lost their minds.
@lasvegasliving9237 2 ай бұрын
Couldn't agree with you more!
@donaldpump3072 2 ай бұрын
I'm in Denver I was painting some studio apartments and they want 15k a month.
@lasvegasliving9237 2 ай бұрын
@@donaldpump3072 Studio apartments for $15K/mo? Not possible.
@mikeshafer 2 ай бұрын
These people are out of their minds. I might offer $1.1m for that house. Anyone who has renovated a home knows that you might not get out of it what you put into it.
@lasvegasliving9237 2 ай бұрын
@@mikeshafer Completely agree!
@nyquil762 2 ай бұрын
Remember, "if voting worked, they wouldn't let us do it." Mark Twain (allegedly)
@lasvegasliving9237 2 ай бұрын
Thanks for watching and commenting.
@fawkes1570health 2 ай бұрын
Nah!! We live in a free country. 😂😂😢😢
@UncleDavesKitchen 2 ай бұрын
I've been looking at a specific area in Hawaii to move. ALL houses for sale in my price range are owned by investors that bought the property in the last year and tremendously increased the price. The updates don't look all that impressive. I'm just not going to be gouged by the huge prices caused by house flippers.
@lasvegasliving9237 2 ай бұрын
Smart move. RE investors, especially the large corporate ones, are the plague to the residential real estate market.
@dalystevens4871 2 ай бұрын
Why would you want to move to a socialist state. 😮
@darrylperry6029 2 ай бұрын
You didn’t mention where in Hawaii. In my opinion the most affordable and little known is on the East, more specifically on the Hilo-Puna side. It’s a sleeper but won’t be for long because it has caught the eye of investors. This is a family-oriented community. Homes are still reasonable.
@UncleDavesKitchen 2 ай бұрын
@@darrylperry6029 Hilo!! Love the area and been there many times. Everything has been bought up and 'renovated' with maybe some paint and the prices jacked up. I'll keep watching, but who knows. Not going to be foolish. I'm in Sedona, Az and love it here, too.
@darrylperry6029 2 ай бұрын
We moved from Kauai 4 year's ago and built a nice home in Kurtistown on 1 acre of land. Just love it here; absolutely no regrets. Wish we had done it sooner. Good luck.
@mikebreler9724 2 ай бұрын
You left out a huge affordability factor. Blackrock is buying out a huge percentage of homes which lowers the inventory available in a permanent way. They are helping the WEF make us all renters.
@lasvegasliving9237 2 ай бұрын
I have that coming up in next week's video. Next week will be good!
@MarielS Ай бұрын
True. Most of those rich never is enough
@lasvegasliving9237 Ай бұрын
@@MarielS It's always about greed, greed and more greed for those companies.
@roycorrea3240 2 ай бұрын
I have an outstanding 401(k) loan however, that was to pay off my house. I decided to pay myself interest instead of the banks .
@lasvegasliving9237 2 ай бұрын
Good for you! Smart move!👏
@jrsambino4702 2 ай бұрын
Inflation AND corporate greed.
@lasvegasliving9237 2 ай бұрын
Yes, a combination of both.
@johndaniels651 2 ай бұрын
Inflation = Governmental Greed (via insane money printing)
@christopherengle4262 2 ай бұрын
What is corporate greed exactly. If American Air agrees to a 30% increase in pilot salaries is it greed when airfares rise?
@johndaniels651 2 ай бұрын
@@christopherengle4262 "Corporate Greed" is how low information voters explain inflation. "Everything is high because companies are greedy" say the economically illiterate.
@jd881 2 ай бұрын
@@johndaniels651 No there is additional corporate greed beyond inflation. Shrinking the size of goods while raising prices beyond the rate of inflation and paying wages that do not keep up with COLA is not just an issue with inflation. It is an issue with keeping a high return rate for the shareholders so the CEO does not loose their job if the board votes them out.
@thomasfranco5997 2 ай бұрын
OMG! The house for over 3 million is ridiculous. There are Greedy People out there. I live close to Yorba Linda, Ca. and the Homes there are not even that expensive. Their pretty big homes and some have big lots. They are not even that high, they are about 2 million to 3 million at the most. I am waiting for prices to fall. Thank You Jerry!!
@lasvegasliving9237 2 ай бұрын
The real estate market is absurd! Such overpricing yet foolish buyers keep paying these ridiculous prices keeping prices propped up. Thanks for the support!🙏👍
@MarielS Ай бұрын
California housing will be cheaper because of the government is killing you, biz with high taxes . We taxpayers have to pay the over expending ( open borders, wars etc.)
@rustybumperclassics6342 2 ай бұрын
"Just think of how thats never going to happen". So true. I think most people are waking up and realizing this fact. A lot less people saying I'm going to wait, it will crash, etc etc.
@lasvegasliving9237 2 ай бұрын
Sadly, it's just a new normal of misery for most people nowadays. To think prices have gotten this far out of hand so quickly is beyond frustrating.
@acousticide 2 ай бұрын
Market is wacky... Going up. Just listed my house in summerlin Thursday. Open house had a TON of people. Listed ABOVE market value.. probably gonna get it. Crazy!!!
@lasvegasliving9237 2 ай бұрын
It is crazy but at some point the music is going to stop. Good luck on the sale!
@nathanstjohn2920 2 ай бұрын
I’ve got a side hustle and work in defense in San Diego. 2b/2b for 4k. Yup you heard right! It’s out of control. Don’t know what up to.
@lasvegasliving9237 2 ай бұрын
Prices and rentals are completely out of control in the bigger, more popular cities.
@MrsBStacyBattleBorn 2 ай бұрын
I am in Vegas also. Even though our business did well over the past 5 years, this year we chose to downsize in order to reduce our expenses to keep our prices as low as we could for our customers. Instead of leasing two spaces for our store, we chose to give up one of the spaces to make our store smaller, thus reducing our rent, utilities, and CAMs by 38%. However, with the rises in other costs associated with our business such as insurance, utilities, shipping of inventory, and maintenance/repairs of the property (up 42%), we have only seen our overall monthly expenses go down by 18% this year so far. We have added additional services to our business to increase revenue this year and are hoping we will see the overall rate reduction of our expenses by the end of the year. Keeping my fingers crossed because we already cut our personal expenses as much as we could last year to keep more of our cash in the business. I expect things will be rough over the next three years (minimum) as long as gov't and central bank policies continue on the course they are on. UGH!!
@lasvegasliving9237 2 ай бұрын
Thanks for watching and sharing that information.
@genxray951 2 ай бұрын
in the past 7 years we have seen how voting can radically change the economy, vote carefully.
@RasiRobi 2 ай бұрын
People tapping into their 401k s to pay rents groceries etc
@lasvegasliving9237 2 ай бұрын
That is the reality for many people in today's economy.
@donaldpump3072 2 ай бұрын
Did this in 06-10 and lost my home
@lasvegasliving9237 2 ай бұрын
@@donaldpump3072 You're definitely not alone from that tumultuous time.
@NoDaysOff-oz2zl 2 ай бұрын
Where I live: very nice 4500 sq ft home from 1910. Old money, high-end part of town. Listed for $1.3M a year ago. Dropped to $1.05M this week. Last sold in 2018 for $1.1M. This is the first listing I've noticed where the current price is lower than the pre-2020 price. Anybody else noticing this sort of thing happening in their area?
@lasvegasliving9237 2 ай бұрын
Interesting data! Thanks for sharing that. It could be the changes we need to start seeing or it may just be because there is something off with that particular home.
@hooligan2005 2 ай бұрын
Where do you live?
@JohnnyJolter69 2 ай бұрын
Suffering in silence is right Jerry. Borrowing to make ends meat means you aren't actually making it. It's that simple. "As people mature and develop their intellect more than just their emotions; they start to realize that a lot of the things that they thought were good, are actually very bad; and a lot of the problems that they were hoping to solve with Government, they discover that the Government has actually caused those problems and the Government solutions actually make them worse." - Peter Schiff
@lasvegasliving9237 2 ай бұрын
Sad but true.🤷♂
@fawkes1570health 2 ай бұрын
Absolutely! Its not a coincidence the US leadership is so hell bent on blaming a country like China and Russia for its self created problems. 😢
@officerzanzibar701 2 ай бұрын
Jerry. In January, 2023, in Sanford, NC, I purchased a home for $350k. Zillow now states that my house is worth $384k, an equity gain of $34k in 14 months. Two blocks away from my house is a new housing development, with compatible like homes, initially attempting to be sold in the $350k price range. However, over the last several months, almost daily, the developer announces a price reduction, with these homes now selling in the $320k to $310k range. Many of these new homes remain unsold. So why, according to Zillow, is my old house value going up with the new homes, two blocks away, values going down or unsold? What is wrong with this picture?
@lasvegasliving9237 2 ай бұрын
What's wrong with this picture is that Zillow can only estimate approximate values and their estimates have to be taken with a grain of salt. You need an actual realtor who can run comps to get more accurate information.
@fialee8 2 ай бұрын
What you are telling us is that LV will have a ton of short sales within the next 24 months.
@lasvegasliving9237 2 ай бұрын
No, that's not what I'm saying at all. What I'm saying is that we are very much overdue for correction, but the fed will likely keep the economy propped up during this election year. I think we are going to hit economic rough water in 2025 but that still will not be reminiscent of the 2008 real estate crash.
@fialee8 2 ай бұрын
@@lasvegasliving9237 If the RE market goes into correction territory... IMO, we'll see a lot of short sales going into and during the downturn as people scramble to cash out any equity they have before it's all gone through foreclousre.
@702couch 2 ай бұрын
We are from Vegas and left about 6 years ago. We miss home and are looking to move back. Thanks for all the inside info.
@lasvegasliving9237 2 ай бұрын
My pleasure. Reach out anytime if you need any help.👍🙏🏼
@parvezsyed7356 2 ай бұрын
Thank you ! You are a genuine person and appreciate your insight every week . Very few realtors would speak the truth and help little ole people like us on the sideline ..
@lasvegasliving9237 2 ай бұрын
My pleasure and thanks for the kind words and support!🙏👍
@alil2005 2 ай бұрын
Great job Jerry, and thank you for putting this video together. What goes up, must come down.
@lasvegasliving9237 2 ай бұрын
My pleasure. Thanks for the support!🙏👍
@JL-gp8bx 2 ай бұрын
@@lasvegasliving9237 This clown has been saying the houses would crash the last 2 years and nothing!
@lasvegasliving9237 2 ай бұрын
@@JL-gp8bx No, not 2 years but thanks for the continued support.
@deborahbuffamanti4847 2 ай бұрын
Thank you Jerry. You do a really good job at educating us.
@lasvegasliving9237 2 ай бұрын
Thanks so much for the kind words and support!🙏👍
@jamesan8156 2 ай бұрын
Food prices are still too high.
@lasvegasliving9237 2 ай бұрын
VERY high! Absurd to most people!
@genxray951 2 ай бұрын
everything is absurdly expensive because of the price of fuel.
@manuelvasquez2883 2 ай бұрын
Thanks for sharing this valuable information 👍
@lasvegasliving9237 2 ай бұрын
My pleasure. Thanks for the support!🙏👍
@dpledoone 2 ай бұрын
This is very insightful Jerry. You are looking at data that no one else is and are one of the few that can connect real world data to the real world experience, not relying on hokey Fed data
@lasvegasliving9237 2 ай бұрын
Thanks so much for the support!🙏👍
@tfatutors 2 ай бұрын
@@lasvegasliving9237 suggestion on Best loan program for CCSD Teachers??
@joec1545 2 ай бұрын
Excellent information and totally mindboggling. In Florida, the insurance companies are scamming homeowners on a daily basis. We are currently in an audit by our homeowners insurance company so that they can justify jacking up our rate. I fully anticipate our insurance doubling or more. Florida is in a "State of Emergency" with skyrocketing expenses an many are on a fixed income. This will not end well:(
@lasvegasliving9237 2 ай бұрын
So unfortunate to hear that. Hope things work out in your favor. Thank you for the support Joe!🙏👍
@agentcrypto7741 2 ай бұрын
Was at Target last week. I just had to laugh at myself seeing how high the prices are. Everyone there was under 40 bunch of college kids young adults.
@lasvegasliving9237 2 ай бұрын
There is no escaping the higher prices!🤷♂
@billger5710 2 ай бұрын
Target is rarely the affordable option especially groceries
@lasvegasliving9237 2 ай бұрын
@@billger5710 No place seems affordable anymore!
@floridamaddogg 2 ай бұрын
Of the three options you talked about, home values going down is most likely and while 40% may be a stretch, I could realistically see 30%.
@lasvegasliving9237 2 ай бұрын
We'll see how it plays out.
@michaelellringer5600 2 ай бұрын
Back in 2008, my $200k townhouse fell all the way down to the mid 30's. We're talking Greenbriar Townhouses near Pecos/DI. That was a 75% drop.
@CosmicLab167 2 ай бұрын
2008 was a totally different scenario, banks had given out mortgages like candy. For the present situation, investors, airbnb and impatient/frustrated buyers on the sidelines will snatch up homes when homes undervalue by as little as 10-15%, driving up prices once again. 30% is a pipe dream.
@Mr.Thinker- 2 ай бұрын
Massive foreclosures could help do it again 👀
@CosmicLab167 2 ай бұрын
Large-scale foreclosures are improbable due to the resolution of problematic mortgages such as interest-only or negative amortization, coupled with increased stringency from banks following the 2008 crisis. While there may be isolated cases, particularly if the labor market experiences a significant downturn or among those who overextended themselves post-pandemic, the majority of homeowners are secure, and widespread foreclosures are unlikely.
@seannotaro473 2 ай бұрын
Great stiluff as always Jerry, appreciate your honesty!❤
@lasvegasliving9237 2 ай бұрын
My pleasure! Thanks for the continued support Sean!🙏👍
@michaelrocha1570 2 ай бұрын
Thank you that price point comparison.
@lasvegasliving9237 2 ай бұрын
My pleasure! Thank you for watching!🙏
@CandycaneBeyond 2 ай бұрын
I bought my house in Northwest Indiana for 140,000 in 2017. That was about 20,000 over its market value at the time. These prices are insane. I don't know why we have so many people bidding so high for homes. It's ridiculous now. The local rent which used to be around 650 or $700 in my area has gone all the way up to 1200 on the low end and 1500 median
@lasvegasliving9237 2 ай бұрын
It's total madness that seems to have no end in sight!🤷♂
@user-sz6xs2xr9j 2 ай бұрын
Thanks Jerry for your news ❤
@lasvegasliving9237 2 ай бұрын
My pleasure! Thanks for watching and the support!🙏👍
@argeldelacruz9545 2 ай бұрын
If the rates go down 2 percent that’s half the battle right there!
@lasvegasliving9237 2 ай бұрын
Rates are not going down anytime soon and certainly not that much if they do.
@shearenergy8203 2 ай бұрын
Thx Gary. For all the hard work you give us. I agree with all you’ve said. I watch how people struggle everyday and pray for them on their journey. I’m lucky I’ve owned my home for many years I was hoping to buy another in LV. When the time is right 👍
@lasvegasliving9237 2 ай бұрын
Thanks so much for the support!🙏👍
@russellc4297 2 ай бұрын
Hi Jerry. It truly is craz 14:55 y out there. I'm. waiting and hop8ng for a home in the range 350 to 400. I'll wait ,I have time, I'm retired. When I'm ready I'll look you up. Thanks for your video. I'm hoping in the next year.
@lasvegasliving9237 2 ай бұрын
Thanks for watching and the support!👍
@Trollhuntah 2 ай бұрын
Jerry!! All of those things are not like the other. The struggle is real.
@lasvegasliving9237 2 ай бұрын
The struggle is DEFINITELY real for the majority of people.
@dogmom4710 2 ай бұрын
Thanks for the info! It’s interesting seeing info from actual ppl in other places. We hit a low of $1.33/gal for heating oil during the pandemic. I had a fuel delivery on 4/3 and it was $4.02. Better than the $4.60 back in feb. that’s just heat. Doesn’t include electricity. Welcome to interior Alaska.
@Elhastezy888 2 ай бұрын
Truth Telling Is Tough Business..... Takes Warriors 🤺
@lasvegasliving9237 2 ай бұрын
Right on! Always 💯on this channel.👊
@Terry-navvet1974 2 ай бұрын
Hello Jerry another great video. My wife and I just saw an article about National Association of Realtors settlement is that suit a positive action for sellers or buyers. Thank you for all your hard work. Terry/Bend Oregon
@lasvegasliving9237 2 ай бұрын
My pleasure Terry. Thank you for the support!🙏👍
@adanblas2451 2 ай бұрын
I remember when I could negotiate a 50$ rent increase each year down to about 35$ now my rent has gone up close to 200$ each year for the past 2 years not Including the increase I have coming up soon. But I'll keep it real just like Jerry does, it's actually less expensive to rent over buying in my current market/area. Great video Jerry. Have a nice day yall . And don't let your boat sink
@lasvegasliving9237 2 ай бұрын
Thanks for sharing that real world data! I appreciate the support!🙏👍
@BREEZYM6015 2 ай бұрын
Where do you live? It was cheaper for me to buy in Las Vegas as opposed to buying. I bought a townhome though.
@ayo9057 2 ай бұрын
Move to a shady area. You can get a lot more.
@lewisrovak7696 2 ай бұрын
Thanks man 👨 your so right ✅️ but what is making all those prices so high 😳 it's got to be more than one thing only 😮
@lasvegasliving9237 2 ай бұрын
Pandemic fueled inflation and massive corporate greed.
@ayo9057 2 ай бұрын
I noticed lower prices at the grocery store for the first time in years this week.
@lasvegasliving9237 2 ай бұрын
Intertesting. I have not seen that at all.
@lockup6104 2 ай бұрын
Mahalo Jerry Happy Saturday 🤙🏽🌴🇺🇸
@lasvegasliving9237 2 ай бұрын
Mahalo pal! Thanks for watching and the continued support!🙏👍🌴
@ty6099lle 2 ай бұрын
Jerry Abbot is brilliant and hard hitting with FACTS. He should have a 500K+ KZfaq following.
@lasvegasliving9237 2 ай бұрын
Thanks so much for the kind words and support!🙏👍
@JL-gp8bx 2 ай бұрын
Yet he has been wrong the last 2 years.
@lasvegasliving9237 2 ай бұрын
@@JL-gp8bx Not accurate on that timeframe but thanks for the support.
@NaglfarCommando 2 ай бұрын
Spanish Trails.. that was THE place to be in for years.. That pricing is insane. They are doing this at the lower end market as well.
@lasvegasliving9237 2 ай бұрын
It's happening across all price points.
@TheThreadofLifeInc 2 ай бұрын
Society in general is frustrating. Institutional corruption is frustrating. Complacency out of comfort is frustrating.
@lasvegasliving9237 2 ай бұрын
Well said and true!
@rene-bl5gq 2 ай бұрын
Southern California here: - Make 118K/year combined - Family of 3 - Rent: $3500 - Electricity: $300 - 1250 sq/ft 3bed/2bath house built in the 60s starts at $830K as is - Median household income in my city is 98K When you stack other bills such as gas, groceries, insurance, car payments, and possible emergency funds (like hospital bills), what's left to save towards a down payment? If you could get the 20% down, at the current interest rate with a 30 year fixed and a monthly payment north of $6500/month before insurance it's not just one thing frustrating be the several that add to the whole. Love the videos... Keep posting.
@fawkes1570health 2 ай бұрын
Great breakdown and my take on it is at those numbers it is very risky to take on those liabilities so don't do it.
@lasvegasliving9237 2 ай бұрын
Thanks so much for sharing that real world data. It is very unfortunate to see what has happened to the real estate market since the pandemic. Hopefully things get better but I'm not that optimistic. Thanks for the support!🙏👍
@MchlV-es7qf 2 ай бұрын
Lower our Federal and State taxes and we should have more money. We let them take too much of our hard earned money and none us left for us.
@russellc4297 2 ай бұрын
I need to come back to vegas soon to see for myself. Ill say hi jerry. Thanks Russell
@lasvegasliving9237 2 ай бұрын
Right on!👍
@nadruik9890 2 ай бұрын
I just took a nail in my tire last week driving down the road. Tire place refused to repair it cause the wall of the tire was cracked from the sun even though it’s only a few years old and tread is fine. Cost me $800 and 4.5 hrs of time…glad I’m not living paycheck to paycheck atm
@NoDaysOff-oz2zl 2 ай бұрын
That's a good tire shop. Any sidewall damage, even weathering cracks, is a potential blowout.
@arnoldfigueroa3281 2 ай бұрын
I always find a second opinion take it to a Hispanic tire shop if fixable they will work on it with in 30min max
@lasvegasliving9237 2 ай бұрын
Wow. Crazy prices!
@lasvegasliving9237 2 ай бұрын
@@NoDaysOff-oz2zl True but $800?! Ridiculous.
@lasvegasliving9237 2 ай бұрын
@@arnoldfigueroa3281 Not a smart move to put your safety at risk.
@lopezvip 2 ай бұрын
So,drop prices by 20% and drop mortgage rates by 2% and increase income by 15%. Very doable.
@lasvegasliving9237 2 ай бұрын
Not very doable at all.
@stephanierovegno6821 2 ай бұрын
I’m clearing out my closet and just sold lots of clothes for cash at Plato’s closet. I’m also about to try to sell my furniture that’s just presently sitting in a storage unit. Getting cash feels nice.
@lasvegasliving9237 2 ай бұрын
Good for you!👏
@phoebelee55 2 ай бұрын
Thank you
@lasvegasliving9237 2 ай бұрын
My pleasure!🙏👍
@bigblancofitnessandnutriti9242 2 ай бұрын
Most frustrating is income actually decreasing from uber (ride share gig driver) and inflation pushing prices up
@lasvegasliving9237 2 ай бұрын
Yes, more competition for ride share drivers and sticky inflation only makes things harder.
@timedj9164 2 ай бұрын
I'm in Cali, allstate just raised car insurance 30% on everybody.
@lasvegasliving9237 2 ай бұрын
Sadly, this is not uncommon to hear anymore. Prices continue to go up as corporate greed continues its out of control reign.
@rustybumperclassics6342 2 ай бұрын
Most of my friends raided their 401k 3 years ago. They are holding on by a string.
@lasvegasliving9237 2 ай бұрын
Unfortunately, that's the reality that a lot of people are dealing with and the media certainly doesn't talk about it.
@steveho9890 2 ай бұрын
Jerry I know you need examples of homes to prove your point. But better provide complete info. The home in 89145 has lower price because it needs tlc. The one in 89052 belongs to Sun city 55+ community. Almost all homes there are two bedrooms. This one does have a den.
@lasvegasliving9237 2 ай бұрын
Agreed but the prices reflected today are nowhere near affordable compared to relatively stagnant wages.
@actorsinsider9967 2 ай бұрын
I feel bad for the neighbors of the house up for sale for over 3M. If it sells for that the property taxes of the neighbors will go up.
@lasvegasliving9237 2 ай бұрын
Not necessarily.
@john.johnb_online1438 2 ай бұрын
I personally think it’s the MOST strongest Economy ever. I watch Jimmy “ the propagandist “ Kimmel . That’s where I get my information.
@lasvegasliving9237 2 ай бұрын
Thanks for watching and commenting.
@beloved-child 2 ай бұрын
I get mine from official news sources and biden. All of which say this is the BEST ECONOMY EVER
@NoDaysOff-oz2zl 2 ай бұрын
Jimmy Kimmel can't go out in public. He could never face a crowd of regular people in a comedy club. He's like a rat in a cage, reading whatever The Man puts on the teleprompter in front of him. Obedient to his masters. Likely compromised in some way. Did Jimmy go to the Island?
@john.johnb_online1438 2 ай бұрын
@@beloved-child lmfao!
@bmwlane8834 2 ай бұрын
John....oh you poor tumpler maga fool. Bless your heart!
@tannermckenzie5442 2 ай бұрын
lol “I’m not trying to be an alarmist” title of video says “EMERGENCY” 😂 just teasing you Jerry, thanks for always keeping it real! It’s the sad truth we all need to face and the mainstream media strays far from to align with government agendas unfortunately.
@lasvegasliving9237 2 ай бұрын
Glad to always to entertain and inform my audience. Always 💯on this channel. Thanks for the support!🙏👍
@asianowl 2 ай бұрын
I have never experienced a time in my life where buying a home has been easy… it’s always been hard or harder.. the current situation is partly due to the cheap money from a few years ago.. we are finally facing the consequences.
@lasvegasliving9237 2 ай бұрын
Very true.
@aaronsiler2444 2 ай бұрын
We have the raiders, aces, A’s, future NBA team & Hollywood 2.O I don’t see prices dropping in Vegas…People that move here from the Bay Area & L.A still feel there getting a bargain..
@lasvegasliving9237 2 ай бұрын
Hard to disagree with that but we have yet to experience an economic downturn for a while. Once that happens, that could change the overall picture.
@davesites 2 ай бұрын
Nice video
@lasvegasliving9237 2 ай бұрын
Thank you!🙏👍
@SmittyInVegas 2 ай бұрын
I graduated high school in 1980. My first job paid $3.75 an hour at a farm market. I’m not exactly sure about these numbers.. I remember people that were slightly older than me as workers were pissed at me because they had been making $2.65 per hour. the earlier minimum wage.
@lasvegasliving9237 2 ай бұрын
Seems like a lifetime ago.
@g9351 2 ай бұрын
Currently Vegas RE is steaming hot. Multiple bidding on $300k/$400k houses. It's not about affordability only. Top factor is supply vs demand.
@g9351 2 ай бұрын
Nobody has the crystal ball. Let the viewers aware the facts and numbers on the current Vegas market.
@lasvegasliving9237 2 ай бұрын
Yes...that price point is very popular which is why the demand is so strong.
@lasvegasliving9237 2 ай бұрын
@@g9351 Okay, thanks.
@TM-li7bl 2 ай бұрын
I am happy with 20-30% decline, I’ll buy!
@lasvegasliving9237 2 ай бұрын
Many people would also like that! Let's see how it plays out.
@jbmjbm770 2 ай бұрын
This office is reap off I’ve called them prior to sale my house and a mean time to purchase a new house in the area they shoot a percentage and rate so crazy I can’t even go closer please be aware when you dealing people like this ones …….
@lasvegasliving9237 2 ай бұрын
Okay, thanks for watching.
@ChristianC-gy1ym 2 ай бұрын
Layoffs already occurring
@lasvegasliving9237 2 ай бұрын
Very true!
@tongtongwang 2 ай бұрын
where? and how fast?
@tongtongwang 2 ай бұрын
I am blind, cannot see. can you tell me more detail? link?
@ChristianC-gy1ym 2 ай бұрын
@@tongtongwang You're not blind. Nice user name.
@idid1866 2 ай бұрын
Yep...force-outs, too!
@EnergeticWaves 2 ай бұрын
When I lived in Vegas is hugely homeless on drugs
@lasvegasliving9237 2 ай бұрын
That is not the case but it's present like in every major city.
@Uncutslots 2 ай бұрын
Great video Jerry....Will be interesting to see how the recent NAR settlement plays out once the MLS changes (change in buyer-agent obligations) become effective in mid-July of this year. Considering the Fed's stance on keeping rates relatively high for longer, I'm expecting sales transactions will take a hit once these new obligations become enforced (i.e. buyers now on the hook for paying their broker-agent in full, barring agreed upon seller concessions or buyer-agent compensation coming from the seller). A further shrinkage in the "qualified" buyer pool will force many sellers to drop prices &/or offer concessions or provide off-MLS compensation for these already cash-strapped buyers (be it covering closing costs, offering a certain % commission, paying a portion of buyer fees, etc.) if they want a quicker sale....all imo. Not sure who will win in the end, but it certainly looks like the R.E. market/transactions will be bogged down even more in the short term....ugh.
@lasvegasliving9237 2 ай бұрын
Great insight and well said. We'll see how it all plays out. Thanks for the support!🙏👍
@jimkelley8658 2 ай бұрын
I think you'll see a couple of rate decreases by July and Sept. That should offset some of that. Plus buyers agents don't need 2.5-3%. It's not rocket science and most people have scoured the internet before even seeing a place so reducing the role of the buyers agent even further. I welcome this change.
@Uncutslots 2 ай бұрын
@@jimkelley8658 I think the Fed will take a very conservative/cautious approach in this highly-priced economy. Their target of 2 % (unscientific number) will never happen (unless they raise rates), & they are very aware of the insolvency (primarily due to commercial risk) of both small & some big banks. The Fed is expecting another bail out imo in the near term (at least for the bigger banks), which will simply add fuel to the inflation fire. In such a high-priced/insolvency environment, I think the Fed will change its tune to some degree & not only delay cuts, but the cuts will be less than what many/markets anticipated or had previously baked in. To think it was just last year the Fed bailed out First Republic, Silicon Valley & Signature banks (the 2nd, 3rd & 4th largest bank failures in US history, & the Fed made all depositors whole, many of whom had $ well in excess of FDIC limits). As they've done in the past, they will do it again Unfortunately, I think we are seeing just the tip of the iceberg re: rising consumer prices for many of our essentials....And prices will simply rise even higher when the Fed decides to lower rates & ultimately throw more money at a generally undisciplined & too big to fail banking problem...knowing the alternative would be worse. In a healthy/competitive economic environment, there is actually downward pressure on prices. However, we have been feeding off of an economy/money supply that has become so dependent on the Fed, & so we end up with chronic inflation (that only gets higher over time due to Fed practices) & increasingly rapid weakening of our dollars. The Fed is causing more harm than good in the long run as evidenced by our enormous deficits/debt & the undisciplined banking environment. IMHO.
@Uncutslots 2 ай бұрын
Sorry, the above comment was meant for a different post. Agree with your thoughts re: the buyer agent's new role & worth.
@lasvegasliving9237 2 ай бұрын
@@jimkelley8658 I don't see it playing out that way unless the fed truly wants to destroy the dollar and ultimately the economy. I don't think buyers agents commissions will change that much based on the fact that things will just be structured differentl but mostly maintained the same way.
@stevenyip6555 2 ай бұрын
You can always find some over priced listings out of 6,000+ listed. Spending some much time talking about that is not that meaningful. So, the medium price has gone up steadily in the last year. What happen to home price when the mortgage rate drops to 6% or below later this year as Freddie Mac is predicting? I think people should a house now if they can afford it. You can always refi.
@lasvegasliving9237 2 ай бұрын
I don't see mortgage rates dropping soon or possibly this year unless the Fed wants to ignite hyperinflation all over again. The only reason they may do it is because it's an election year and the interest on the trillions in gov debt is completely unsustainable.
@beaumac 2 ай бұрын
Jerry, look at 11 Princeville for a comp to the $3.6M home. Similar and just sold for $3.5M.
@lasvegasliving9237 2 ай бұрын
Not sure that's apples to apples regarding finishes, community, etc. Regardless, these are luxury flips that with absurd pricing and even crazier buyers willing to pay these prices.
@wolfmannews 2 ай бұрын
One last comment, you are doing a great job reporting the truth. I wish when I lived in Las Vegas and was a realtor, loan officer, and was flipping and remodeling homes I ran into you, I would have loved to talk with you. 26 years living in Las Vegas I had experienced many things most people never would have been privy to unless they worked in many facets of the industries, it is definitely a story to be told because the highlight is just about to be experienced if that makes sense.
@lasvegasliving9237 2 ай бұрын
Thanks so much for the kind words and support!🙏👍
@mluu510 2 ай бұрын
Jerry, do you have any concerns about the 6% RE commisions standard being abolished?
@lasvegasliving9237 2 ай бұрын
I don't see much change coming to the industry with this recent settlement.. I simply think contracts and negotiations will be handled differently. I will be commenting on this in more detail in an upcoming video.
@1frogass1 2 ай бұрын
😅 4:29..." So you say there's a chance " 😂😂
@lasvegasliving9237 2 ай бұрын
Yeah, not really.🤷♂
@realShadowKat 2 ай бұрын
Just got my home insurance bill (not Nevada)... went from 1400 last year to 2200 this year. Zero claims since I got it in 2007. Hopefully I'll be out of here by June/July so I'll get most it back.
@lasvegasliving9237 2 ай бұрын
Wow. Thanks for sharing that. These examples prove how much higher inflation really is compared to public reports.
@aaronf.2576 2 ай бұрын
Never ever buy the “best” home in the worst neighborhood!
@lasvegasliving9237 2 ай бұрын
Agreed!
@ejgrant5191 2 ай бұрын
I really like your style! I hope you never start to charge "Resorts Fees" for you Channel🤣🤣
@lasvegasliving9237 2 ай бұрын
Lol...thanks for the support!🙏👍
@ragingbrawler1481 2 ай бұрын
Here in San Diego, the high end restaurants are still packed out ! I guess people still have money to burn ? I don’t get it.
@lasvegasliving9237 2 ай бұрын
I don't get it either! It seems like FOMO and YOLO rule everyone's mind nowadays, prices be damned.🤷♂
@bobbowie9350 2 ай бұрын
You do realize some people have good paying jobs
@lasvegasliving9237 2 ай бұрын
@@bobbowie9350 Of course but that doesn't justify the exorbitant costs and corporate greed.
@patricknevin7304 2 ай бұрын
Jerry , all of the above 🤗
@lasvegasliving9237 2 ай бұрын
Thanks!🙏👍
@roostercogburn746 2 ай бұрын
I worry about the young, first time buyer's. They don't realize that it's the worst possible time to buy. If they buy now, they will be immediately under-water for years.
@lasvegasliving9237 2 ай бұрын
It is a very tough time for the young, first-time home buyer.
@geraldcroft9020 2 ай бұрын
Food and Home Depot ripping us off
@lasvegasliving9237 2 ай бұрын
Many more places than that doing the same thing to millions of people.
@JamalTurner-kq2ty 2 ай бұрын
If you dont expect house prices to go down in a big correction would it be better just to buy a house in cash now since there not alot of compensation
@lasvegasliving9237 2 ай бұрын
It is very hard to time the market and it really depends on each persons financial situation. Reach out direct if you need some specific help.
@fialee8 2 ай бұрын
No, it's lack of self control... and mostly part of keeping up with the Jones mentality. Most people who get in financial trouble don't work to their full potential, and don't watch their budget appropriately. If you made $500K/yr, a $8 Starbucks is prob ok... if you are making $50K a year, you are better off making your own coffee.
@lasvegasliving9237 2 ай бұрын
Completely agree with you!
@frankgomez7549 2 ай бұрын
The problem???...FJB!!
@lasvegasliving9237 2 ай бұрын
It will certainly be an interesting election year.🤷♂
@MarleneMeier 2 ай бұрын
I know the area and they're higher prices because they want to be exclusive and Henderson is at least 30 minutes from Las Vegas.
@lasvegasliving9237 2 ай бұрын
Still should never see these kinds of prices.
@InvestingWithAdamK 2 ай бұрын
That’s ok. The government will just bail them out come retirement time
@lasvegasliving9237 2 ай бұрын
Bailouts just kick the can farther down the road.
@InvestingWithAdamK 2 ай бұрын
@@lasvegasliving9237 sure does
@sunnienie239 2 ай бұрын
i live in San Diego never been to Vegas 'home price in SD very high on the market it sold the next day
@lasvegasliving9237 2 ай бұрын
Yes, the real estate market is very tight on inventory.
@sunnienie239 2 ай бұрын
@@lasvegasliving9237 yeah
@janssenrembert3822 2 ай бұрын
The real "emergency" is CORPORATE GREED....Why are people ignoring the elephant in the room????
@lasvegasliving9237 2 ай бұрын
No doubt about it! People buy foolishly allowing the whole economy to stay overinflated.
@joshuabuchanan1141 2 ай бұрын
Corporate greed really needs to knock it off
@lasvegasliving9237 2 ай бұрын
@@joshuabuchanan1141 Lol...that won't be happening anytime soon (or ever)!
@mjrisinsd6836 2 ай бұрын
The most frustrating thing is that this is the textbook behavioral response to inflation. People will not stop buying unless they have a motivation to do so because they know it is better to buy now before prices go up further. The only way to motivate different behavior is to incentivize savings with an interest rate HIGHER than the inflation rate. People will then be indifferent to buying now vs. In the future because they will be compensated for the difference. Historically, the public resists interest rate hikes until the inflation becomes unbearable. We will be forced to endure all manner of proposed solutions in the meantime that will most likely make this worse, mainly rent control in this case. We are doomed if we get national rent control. Anyways, good times.
@lasvegasliving9237 2 ай бұрын
Guess what? Inflation is already completely unbearable for the majority of people. The Fed has painted themselves into a very precarious corner. They actually need to raise rates rather than the thought of lowering them. Otherwise, they will debase and devalue the dollar and then we are completely doomed.
@markoraimius4339 2 ай бұрын
Sold real estate for 30 years in Vegas in every type of market. You can find grossly overpriced listing in any time. So whats the point of finding some crazy overpriced listings. They're in every city in every market year in year out.
@lasvegasliving9237 2 ай бұрын
Yet people pay for them and allow this artificially overinflated market to continue.
@donaldjones7582 2 ай бұрын
Greed. My vendors are trying to stick it to me on every level. Inflation has created an environment where vendors are getting greedy and overcharging wherever they feel they can get away with it. This goes for the US Govt too! Customs and Border Patrol are still sticking it to importers with outrageous fees on containers, and this will keep consumer pricing high and curtail business.
@lasvegasliving9237 2 ай бұрын
Unfortunately, the only way for things to change is to see an economic downturn. Sadly, this will increase unemployment and create a lot of collateral damage, which may be the only way to slow down consumer spending and tame corporate greed.
@beaumac 2 ай бұрын
Prices in the Vegas area are going to explode once the reality sets in that there will be no rate cuts this year. Probably around June or July. Inventory is critically low and people who were waiting for a cut will create a spike in demand. Prices 📈
@lasvegasliving9237 2 ай бұрын
I respectfully disagree. Prices have already exploded over the last few years.
@VIKTORALEXY 2 ай бұрын
Hi Jerry, it's seems like Californian buying Las Vegas homes cash or with solid cash down (mean low mortgage payment for them). I mean there is clearly a high demand coming from California considering the cost of Las Vegas house relatively cheap. As a common knowledge California is a relatively a large population compared with Las Vegas. If just a small % of Californians continue to contribute for the Las Vegas home demand (bad for the local population) how can you see price going down knowing; there is not enough new constructions, land are limited and potentially rates could goes down this year?
@lasvegasliving9237 2 ай бұрын
There is no doubt the mass exodus of Californians moving to Las Vegas has had a huge impact on home prices. With that said, I think the one way this will slow down is unfortunately seeing an economic downturn. That could create a domino effect and finally slow down sales and allow for more inventory to come on the market. Time will tell how it plays out but I do see economic rough water coming after this election year.
@jd881 2 ай бұрын
Is there a link to that report with exhibit 32 in it?
@lasvegasliving9237 2 ай бұрын
Unfortunately I do not have that link.
@jgbonney 2 ай бұрын
Don't these people listing these ridiculously overpriced homes have real estate agents telling them that the comps for their neighborhoods don't justify the over inflated asking price?
@NoDaysOff-oz2zl 2 ай бұрын
I went to an open house last weekend where the seller's agent admitted to me that the home owner was dictating the price. The kind of client you never want.
@lasvegasliving9237 2 ай бұрын
Some agents desperately want the listing knowing the seller will not get the price and take the listing anyway.🤷♂
@lasvegasliving9237 2 ай бұрын
@@NoDaysOff-oz2zl Very true!
@anthonymartinez4307 2 ай бұрын
They never tell people how bad the drinking water is here in Nevada kidney disease and many health problems. You go there to retire or think it’s cheaper but at this point it’s not. Wages are flat and besides cost of home monthly prices, you are paying more than double for car insurance and groceries. Is risking your health really worth moving there? The low life quality of people that also surrounds you. To me the drinking water is very scary 😧
@lasvegasliving9237 2 ай бұрын
@@anthonymartinez4307 There is hard water in Las Vegas and there is no way around that. We also do not have a good medical ecosystem here. Las Vegas is not for everyone even though it is basically in the top 3 moved to cities each month in the country.
@user-fn6qm3ms2e 2 ай бұрын
Will my monthly mortgage go down?? How about monthly mortgage??🤥💜
@sawtoothbygeorge 2 ай бұрын
I think home prices need to drop back to about the price level of homes in 2020. People just went wild (greed) thinking prices are going up at the 30% per year appreciation level forever. The people who did buy at the high levels are just plane stuck. I believe it will be at least 10 years before price levels reach to where they are now. Maybe even longer. Are there programs for forgiveness of taxes on short sales?
@lasvegasliving9237 2 ай бұрын
We are living in unprecedented times and we should see a pricing correction but ultimately prices will likely go up long term. I would not be able to advise on taxes, etc.
@madog1 2 ай бұрын
The most frustrating things are the prices of everything. My Social Security has never kept up with true inflation. The COL increases get chewed up by the increase in premiums for medicare insurance. I would not be able to afford or even qualify to purchase the house I live in if I had to buy it now.
@lasvegasliving9237 2 ай бұрын
Very true and very unfortunate. Sad scenario, especially for retirees on fixed income.
@MchlV-es7qf 2 ай бұрын
Social security income is only to make sure you can rent a studio apartment and can afford to eat. It is not intended for purchasing a home.
@lasvegasliving9237 2 ай бұрын
@@MchlV-es7qf True.
@Stash186 2 ай бұрын
Very good clear and concise micro overview of a local market. Also nice to see someone that is not pumping the hopium that rates will fall, perhaps there will be a head fake but the probability is very low that they will go down or stay down. The Federal government is borrowing 1 trillion every 100 days, and is forecasted to pay 850B on current debt. However in reality it will likely be over 1T. Further considering that as the Federal government rolls over old debt at higher rates, expect the new borrowing to increase, and don't forget new wars. Historically presidential elections years always are inflationary, got to buy them votes. The yield curve has been inverted since early July 2022, making it the longest inversion on record, surpassing the previous record from 1978. Banks lose money during inversions. And remember, insurance companies' business model is the same as banks. They are rapidly rising premiums. Why does this matter, well because the probability that rates will increase is very high, with many expecting double digits rates for two decades +. Also regarding intrest rates further consider that States, cities and municipalities including schools have significantly increased their bond offerings. While this does not create new dollars it does take dollars away from what is seen as higher risk investments such as mortgages thus causing higher rates. California State Teachers’ Retirement System (CalSTRS) fund considered borrowing over $30 billion to manage cash. This policy was to be reviewed at their meeting on January 11, 20241. How many long US Gov bonds do you think their holding? At least eight large US public pension funds, including CalSTRS, adopted leverage strategies. If 8 have, soon they ALL will. More dollars flooding the system is inflationary by definition. Historically and currently this drives up the prices of commodities as we are currently seeing. And those houses are full of commodities, steel, copper, wood ext. In summary, there could be a housing crash as this is a historical norm. The problem is the intensity of this cycle and the Federal Reserve enormous power and speed at which they can quietly respond. We have also several million more immigrants in the US that have been given hundreds of billions of dollars. Those dollars along with the others noted here as well as those not noted are chasing the same or less amount of goods and services. There can only me one outcome, inflation. I would offer, don't get one side hustle, get 3. Don't buy anything not needed to survive and sell everything you have not used in the last 30 days, then learn to live without them. If you're earning 150k or less, you are the working poor. You likely qualify for some forms of assistance, take it. Buy commodities you can hold in your hand. Learn and live by the Stockdale Paradox, those that don't will not make it. Cheers
@lasvegasliving9237 2 ай бұрын
Thanks so much for your support and sharing your thoughts!👍
@utopia963 2 ай бұрын
Unless the gov clamps down on corporates buying up all the properties with induced monopoly
@lasvegasliving9237 2 ай бұрын
That would be ideal but not likely to ever happen.
@billger5710 2 ай бұрын
just scratching the surface of how skewed the economy is iut if favor to the working class... corporate buying, flipping etc adding to affordability issue but more so from the significant failure to build affordable neighborhoods since the housing crisis.... and more working adults choosing to live in a vehicle just because that's the only option left. I especially feel the pain of small businesses trying to keep their business afloat and maintain payrolls.
@lasvegasliving9237 2 ай бұрын
Thanks for watching and sharing your insight. Much appreciated.
TheSoul Music Jam
Рет қаралды 11 МЛН
Fox Business
Рет қаралды 1,3 МЛН
Fox Business
Рет қаралды 1,4 МЛН
Sell Your Home - The Profitable Homeowner
Рет қаралды 155 М.