Las Vegas Homes For Sale

Las Vegas Homes For Sale - Train Wreck!

Рет қаралды 72,711

7 ай бұрын

Las Vegas Homes For Sale - Train Wreck! The economic landscape has evolved into a distressing reality, rendering homeownership an increasingly unattainable dream for millions. Nowhere is this predicament more glaring than in the city of Las Vegas, where purchasing a home has become a financial train wreck for many. Las Vegas homes for sale, once considered accessible, are now burdened with exorbitant price tags, placing them out of reach for the average American. There are currently just over 4,000 Las Vegas homes for sale with the median price standing at $449,000. The demand for Las Vegas homes for sale had surged since the onset of the pandemic, creating a housing market that feels like a train wreck in terms of affordability. However, as interest rates are now at 20 year highs, demand is starting to diminish because of even more challenges with affordability. Aspiring homeowners face an uphill battle in a city where the dream of homeownership is slipping away due to escalating costs associated with Las Vegas homes for sale. The pervasive issue underscores the broader nationwide struggle, painting a stark picture of the challenges that countless Americans encounter in their pursuit of a place to call home. The unaffordability of the housing market, epitomized by the predicament in Las Vegas and the thousands of Las Vegas homes for sale that now exceed most people's capabilities to purchase, demands urgent attention and comprehensive solutions to ensure housing remains within reach for all. As the overall real estate market now starts to slow down, a wise option to consider would be to hold off on buying now, especially one of the many Las Vegas homes for sale, until we see some type of pricing correction that could likely happen as we head into and go through 2024.
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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
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@lasvegasliving9237 7 ай бұрын

The US economy and real estate market is an absolute train wreck. Overall affordability for just about everything has become more challenging than ever due to persistent inflation. Home prices had been trending higher over the summer due to low inventory but that is now starting to change as inflation and interest rates remain elevated. Specifically in Las Vegas, the median home price now stands at $449,000. Continual higher interest rates has created an ongoing affordability issue putting most home borrowers at 8% mortgage rates and higher. The Fed could also raise interest rates yet again next month which will likely put even more downward pressure on the economy and the housing market and potentially cause a recession. Home prices, specifically in Las Vegas, are likely to decline further as many homes are still overpriced as we head into the slower real estate winter season. The overall real estate down cycle could take well into 2024 and even 2025 before we see meaningful home price reductions throughout the country as well as Las Vegas. 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

@retromojo1 7 ай бұрын

spot on brother.... been telling people for months what is coming........ I retired 2 years ago and paid everything off....... never going into debt again...... things are getting bad...

@Ace-qy5vz 7 ай бұрын

Jerry, your Biden clip was not the one you wanted. What Biden said is a 100% true. Relative to any other economy, the USA does have the strongest economy. EU, Canada, AU are already in recession and China is likely the black swan that will bring everything down when they can no longer support their failing banks. I know I'm focused on details, but it matters a lot if you want the truth. Having said that, I'm a permabear that knows 100% that we are all going down the tubes. I sold all my homes and I have been renting waiting for the drop. It's going to be a disaster, and millions are going bankrupt when corporate earnings fall and unemployment at least doubles.

@fgjf1079 7 ай бұрын

Keep exposing the Zillow fraud. I’ve noticed funny stuff like that on their site. Also, those houses that sold for 6 figures over list(and also likely over appraisal), pushed the Zestimate up by six figures as well, after the homes sold. Zestimate should have stayed at appraised amount, not pushed up by 6 figures just because some idiot overpaid for it. Zillow should be sued and held accountable. My guess is that when the housing market crashes, it will be partially blamed on sites like Zillow and Redfin

@jagpilotohio 7 ай бұрын

The affordability problem is largely based on Wall Street firms and investors, both overseas and domestic, buying up SFH’s to rent or use as air bnb’s as an option for their cash other than the stock market or bonds. Ideally Congress should prevent foreign investors and large investment corporations from owning single family residences as is done in many other countries….but we know that will never happen because Congress is owned by big money interests. They have become a bunch of whores. There are even congressmen and women actively protecting obscene bank junk fees right now on pending legislation.

@lasvegasliving9237 7 ай бұрын

@@jagpilotohio Well said and so true! Unfortunate for the average buyer. It's one big dirty game with a lot of dirty players.

@slickfrictionless 7 ай бұрын

As a former real estate appraiser, it’s nice to hear a realtor actually tell it like it is!!

@lasvegasliving9237 7 ай бұрын

Thank you for that support! Much appreciated!🙏👍

@RaceMentally 7 ай бұрын

Are you one of those high value appraisers? If so I need some appraisals.

@lasvegasliving9237 7 ай бұрын

@@RaceMentally Lol

@sl5946 7 ай бұрын

Best way to start your Saturday, a hot cup of coffee and a new Las Vegas Living video

@melb8416 7 ай бұрын

Exactly!

@lasvegasliving9237 7 ай бұрын

Thanks so much! I always appreciate the continued support!🙏👍

@lasvegasliving9237 7 ай бұрын

@@melb8416 Thank you as well!🙏👍

@davidgee6110 7 ай бұрын

I'm often late and watching Sunday morning with coffee ☕

@lasvegasliving9237 7 ай бұрын

@@davidgee6110 Still appreciate it! Thanks so much. Happy Thanksgiving!🦃🙏👍

@jurisram1 7 ай бұрын

Jerry is spot on. Zillow manipulates prices to the upside. My guess is it has a backdoor for listing realtors to complain about "low" pricing. I did a survey in my neighborhood. My sense is that the neighborhood yentas most likely to complain about anything bombard Zillow with complaints, and are rewarded with higher valuations than comparitive homes. Redfin is more accurate in my opinion. I made this complaint several months ago in these comments. Didn't get much traction. Looks like Jerry has had an epiphany. Good for Jerry.

@lasvegasliving9237 7 ай бұрын

Thanks for sharing your thoughts. I just see more and more inconsistent data being used which looks very manipulated and incorrect. Thanks for your support!🙏👍

@jontris6118 7 ай бұрын

Gambler like mentality by so called real estate GAMBLERS ARTIFICIALLY raising home prices.

@pablo81778 7 ай бұрын

Zillow simply is not using the data properly. They should only use 'solds' data like a legit appraiser.

@soramike29 7 ай бұрын

I can't speak for Zillow's intentions but I think the algorithm is pulling aggregate data and making comparisons to estimate the value of the property. I think this model relies on the appraiser's expertise to input valid data for the algorithm to work.

@lasvegasliving9237 7 ай бұрын

Agreed but they don't and the data is very inconsistent.

@Boots_And_Slicks14 7 ай бұрын

Thanks for being the one realtor calling out how biased and robotic Zillow's "Zestimate" is. I used to have fight them because I listed FSBO and their "Zestimate" always had my property on the very low side, it wasn't counting for any updates or a nearly 1,000 SQ. FT. shop I had built on my property that had a 12 foot ceiling for a lift and bathroom! My property was also inside a city not in a county. Funny thing, when I was pretty much boycotted by local realtors and pretty much forced into using one and finally did, my Zestimate magically change to what the asking price of the home was immediately. I hate the evil game the recent real estate industry has changed into, both on the selling and buying end.

@lasvegasliving9237 7 ай бұрын

Normally I would sound surprised from hearing that information but after what I've been seeing on Zillow it's becoming more and more common. It's very unfortunate that their algorithm and their tactics are used in a way that do not provide true value data.

@plektosgaming 7 ай бұрын

@@lasvegasliving9237 They use a similar AI driven method that rental companies do. The problem is when the percentage of rentals in a city exceeds a tipping point. In Vegas, 46% of homes are now corporate owned/used as rentals, it's beyond that tipping point (about 1/3 of the market) and the AI goes nuts/gets broken as it sees a skewed demand for homes. Usually with vastly inflated estimates as a result.

@jimgalle1371 7 ай бұрын

This is my favorite Saturday morning video ....

@lasvegasliving9237 7 ай бұрын

Wow! Thank you so much! I appreciate your support!🙏👍

@heir_to_the_promise 7 ай бұрын

Thank you so much for your videos, Jerry. My wife and I want to buy a house, but we’ve decided to wait at least another two years minimum. From doing our research of the economy for the last 40 years, and good and bad experiences, we know for a fact we will save tens of thousands of dollars if we wait. May God bless your truthfulness and hard work with millions of views. 🙏

@lasvegasliving9237 7 ай бұрын

Thanks so much for the kind words and support. Hopefully your patience pays off. Happy Thanksgiving!🦃🙏👍

@bubbajones4522 7 ай бұрын

Wait to buy. We're seeing the free market at work. There are natural laws that govern the free market such as average house prices will eventually equal average household income. This dictates that one of three things will happen. Interest rates will drop to @2%, incomes will double or home prices will drop about 36%. Which do you think will happen? I think home prices will come down drastically and maybe interest rates also.

@lasvegasliving9237 7 ай бұрын

@@bubbajones4522 We will never see home prices equal average household income. We also will never 2-3% ballpark interest rates again. I think the only thing we can expect is a recession that will slow down the economy and prices recede from less consumer spending. That may take some time and home prices could take another year before we see meaningful price reductions.

@heir_to_the_promise 7 ай бұрын

@@bubbajones4522 We’re already seeing home prices drop just like Jerry said. There’s too much inventory. New home builders are offering large incentives. When that happens, that means they’re frying to dump those houses before the bottom falls out.

@heir_to_the_promise 7 ай бұрын

@@bubbajones4522 But I don’t see interest rates coming down any time soon.

@darrenwilliamsahs2211 7 ай бұрын

I notice a bunch of those price spikes on Zillow this morning before I watched your show. Home was valued at 298,000, then listed for 335,000, zillow est. switched to 323,000 over night.

@lewjames6688 7 ай бұрын

IMHO Zillow got lazy, they're using their algorithms far too much. There must be better sites right now than theirs. There, I finally used all three "theres". LOL

@lasvegasliving9237 7 ай бұрын

Exactly, it doesn't make sense when they have a fairly sophisticated algorithm that should never allow that to happen.

@lasvegasliving9237 7 ай бұрын

@@lewjames6688 Good job! Zillow is the 800 gorilla with the brand recognition that people rely on but it does not tell the full story or even show the right data many times.

@americanedokko2782 7 ай бұрын

WOW..

@jontris6118 7 ай бұрын

ZILLOW IS ACTING AS PUMP AND DUMP SCHEME

@geraldcroft9020 7 ай бұрын

Thanks for being truthful. I know your livelihood depends on real estate. Hopefully KZfaq is filling in some of that income.

@lasvegasliving9237 7 ай бұрын

I will always keep it 💯on this channel. Thank you for the support!🙏👍

@markme4 7 ай бұрын

I noticed most of the Zestimates pretty much match everyones list price

@lasvegasliving9237 7 ай бұрын

Not all but many are doing that now which makes no sense.

@66burnout 7 ай бұрын

Great channel good info

@lasvegasliving9237 7 ай бұрын

Thank you!🙏👍

@vixace5259 7 ай бұрын

Really appreciate the honesty, Jerry. Some realtors won't tell their clients the facts in order to close a deal. I've been studying the Nevada market, and you're spot on. Keep up the great work and many successes in 2024.

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support! Happy Thanksgiving!🦃🙏👍

@angelchz6272 7 ай бұрын

I want to thank you so much for letting us know and keeping us informed!!

@lasvegasliving9237 7 ай бұрын

My pleasure! Thank you for the support!🙏👍

@Michael-we9vp 7 ай бұрын

Jerry looks stunning in his pretty pink jacket...And his tan is amazing!

@dekaywill4572 7 ай бұрын

You jelly?

@lasvegasliving9237 7 ай бұрын

Lol...thanks as always Michael! Happy Thanksgiving!🦃🙏👍

@lasvegasliving9237 7 ай бұрын

@@dekaywill4572 Lol

@tracybrown9115 7 ай бұрын

I'm so glad I found your page I wanted to buy a home but I will be patient and wait

@lasvegasliving9237 7 ай бұрын

Thank you for the support!🙏👍

@Etzeterra 7 ай бұрын

I appreciate the honest reporting about the Las Vegas housing market. It really helps a lot. Thank you! : )

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks so much for the support! Happy Thanksgiving!🦃🙏👍

@benhuh3944 7 ай бұрын

Thanks for your informed update on LV market… and for your transparency. I almost pulled a trigger summer 2022 for a rental property to expand holdings to have one in LV because I go there often to see my best friend. He bought 2 in cash around that time to rent it to his relocating families. Worked out well for them but a bad timing. I’ll be ready when it’s the right time!

@lasvegasliving9237 7 ай бұрын

Sounds good! Thank you for the support!🙏👍

@rottiek423 7 ай бұрын

Very glad to see you noticed the very strange way Zillow Zestimate was matching the List Price the seller creating

@lasvegasliving9237 7 ай бұрын

I have been noticing it a LOT lately. Not a fan of data that is inaccurate like that.

@cliffturnbull5954 7 ай бұрын

As an investor, I really appreciate your videos!! Thank you!!

@lasvegasliving9237 7 ай бұрын

My pleasure! Appreciate the support Cliff!🙏👍

@nickm6269 7 ай бұрын

As a RE Broker in S. Florida, glad to see you call out Zillow on manipulation at listing/sale. I have seen them go back in time to smooth out the price curves so what they tell you the price was say in 2019 wasn't what it was back then. Las Vegas has always been at high risk with price fluctuations so I hope you weather the upcoming storm with style. P.S Supermarket turkey $ 69.99 but its a deflated 10 lb bird.

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support! Not a fan of Zillow's calculated tactics. Turkey prices are crazy! Happy Thanksgiving!🦃🙏👍

@Sullynow 7 ай бұрын

Love your videos! Will definitely reach out when it’s time.

@lasvegasliving9237 7 ай бұрын

Thanks so much!🙏👍

@MercedesAshleyOnline 7 ай бұрын

Love honest realtors.

@lasvegasliving9237 7 ай бұрын

Thank you so much! Happy Thanksgiving!🦃🙏👍

@americanedokko2782 7 ай бұрын

THIS guy is SPOT ON. I would buy a house from him. NO fluff from him.

@lasvegasliving9237 7 ай бұрын

Thanks so much! I appreciate the support! Happy Thanksgiving!🦃🙏👍

@jamesmurphy9346 7 ай бұрын

The man that predicted the economic slump in the early 2000's is predicting another slump coming to your life soon. Vegas builders are building like we have a great economy. I saw that Zillow ad for the 962,500 and then later listed for 2 mil. The ones that peak my interest are " Zestimate " not available and the chart is blank but the price history tells the Real story. When purchasing I want Jerry on my side. Thanksgiving spending is spread out over months, but for just me about $150 and that is no frills. Thanks Jerry.

@lasvegasliving9237 7 ай бұрын

Thanks for watching and commenting James! I appreciate your feedback and support!🙏👍

@skipweinacht1099 7 ай бұрын

Great clip….keep it up

@lasvegasliving9237 7 ай бұрын

Thanks so much! Happy Thanksgiving!🦃🙏👍

@poppasmurf2044 7 ай бұрын

Thank you for the great content. I'm sitting it out for now, but will contact you to buy a home when the time is right. $99.00 for a turkey is insane! They're not that difficult to cook at home. Especially with so many great yt chefs showing their recipes & cooking technique.

@lasvegasliving9237 7 ай бұрын

Thanks so much for watching, commenting and the support!🙏👍

@samanthacrisp9421 7 ай бұрын

Thx so much! We used to be able to trust Realtors for this. You are a rarity now. Greatly appreciate all the updates!

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks for the support! Happy Thanksgiving!🦃🙏👍

@benhuh3944 7 ай бұрын

You’re also spot on about recession beginning once un-inverting happens between 2-10 yr note yields!

@lasvegasliving9237 7 ай бұрын

Thanks for the support! Happy Thanksgiving!🦃🙏👍

@itravel3317 7 ай бұрын

Loved your interview with Andrei and Dillon. Love your honesty.

@lasvegasliving9237 7 ай бұрын

Thank you so much for watching! I will cross promote that in my video for next week.

@user-lb4cy7ez3p 6 ай бұрын

Thanks for another great video Jerry. I am in the Midwest and we are seeing some price drops on many homes. Same situation, owners are still asking crazy prices but are no longer able to get their asking price with rates being so high. PS thanks for the video of clueless JB 😂

@lasvegasliving9237 6 ай бұрын

Thanks for the support! Happy Thanksgiving!🦃🙏👍

@aaronpetry715 7 ай бұрын

The average home interest rate is around 5-6% in the last 20 years. People thinking 3% is normal 😂😂

@ToolishBox 7 ай бұрын

In the past 20 years the house prices weren’t as high though

@aaronpetry715 7 ай бұрын

@@ToolishBox yes but home prices adjust for interest rates not the other way around haha

@KevinSmith-bj2ic 7 ай бұрын

As others have stated, yes interest rates are not the main problem. It's the combination of both, super high prices on homes and high interest rates combined together. Example: my house I sold in 2018 for $260k, just sold for $380k a few months ago. Is the house worth $120k more in 5 years-no! Around $300k would be the "real" value. The values are ridiculous, typical houses don't increase 40-100+% in under 5 years.

@coastalhillbilly3419 7 ай бұрын

When rates first went crazy low I told my wife and friends, in the not so distant future we will be getting higher interest rates on CDs than we are paying on our home loans

@coastalhillbilly3419 7 ай бұрын

@@ToolishBoxTrue but the money supply in circulation likely doubled since then

@TF-qs2xt 6 ай бұрын

Thanks for your honesty 💯💯💯 A lot of realtors think about themselves $$$ and not the clients best interest 🤦‍♂️🤦‍♂️🤦‍♂️ Being honest attracts more clients for you keep up the great work you speak and videos keep it rolling 💯👍🏽💪🏽🙏🏽

@lasvegasliving9237 6 ай бұрын

Thanks so much for the kind words and support!🙏

@ricknunez3465 7 ай бұрын

Great info and a i appreciate the clarity!!

@lasvegasliving9237 6 ай бұрын

My pleasure! Thanks so much for the support! Happy Thanksgiving!🦃🙏👍

@john.johnb_online1438 7 ай бұрын

Awesome info Thanks Bro

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks for the support! Happy Thanksgiving!🦃🙏👍

@steelhorsetravels9791 7 ай бұрын

Thanks for the transparency. Enjoying the str8 talk.

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks so much for the support Happy Thanksgiving!🦃🙏👍

@steelhorsetravels9791 7 ай бұрын

@lasvegasliving9237 Happy Thanksgiving to you and your family. 😊🙏

@lrac88510 7 ай бұрын

Your best video yet, it was a learning experience.

@lasvegasliving9237 7 ай бұрын

I really appreciate that! Much thanks!🙏👍

@davidmajer3652 7 ай бұрын

The Zillow example was quite eye opening. Showing these Zillow examples is a highlight of this show.

@lasvegasliving9237 7 ай бұрын

Thanks so much. Zillow's tactics are unfortunate. Happy Thanksgiving!🦃🙏👍

@blacksilverchair3315 7 ай бұрын

A train wreck. No other words can describe it better.

@lasvegasliving9237 7 ай бұрын

Thank you! Happy Thanksgiving!🦃🙏👍

@u4tubular 7 ай бұрын

It’s interesting to see what kind of incentives builders have to offer to move inventory.

@lasvegasliving9237 7 ай бұрын

Many builders are now using interest rate by downs to lure more potential homebuyers as well as other incentives. It just depends on which builder and how far along they are to determine the extent of the incentives.

@eyemanpb 7 ай бұрын

Thank you for exposing all this SCAM WEBSITE AND SELLERS!!!!

@lasvegasliving9237 7 ай бұрын

My pleasure!😎 Thanks for the support! Happy Thanksgiving!🦃🙏👍

@zippythechimp4219 7 ай бұрын

Thank you Jerry. Happy thanksgiving

@lasvegasliving9237 7 ай бұрын

My pleasure! Happy Thanksgiving!🦃🙏👍

@tims708 7 ай бұрын

I think that turkey better be amazing! Thanks, as always, for your insight and information.

@lasvegasliving9237 7 ай бұрын

Lol...it better be for that price! Thanks for watching and commenting!🙏👍

@Mike_257 7 ай бұрын

It's not the interest rate but the high house price which is killing the housing market 😢!!!!! 14:23

@lasvegasliving9237 7 ай бұрын

High prices with high rates is a recipe for disaster. It may not crash the market but it will likely be cause for a correction or worse. It all depends on what happens with the economy.

@metafyzix3790 7 ай бұрын

I look forward to the day when I see your thumbnail where you are hyped for the market instead of stressed out.

@lasvegasliving9237 7 ай бұрын

Lol...I don't know when that will happen. There is nothing about this economy and market to get me hyped up.🤷‍♂

@rickjobs638 7 ай бұрын

Hey Jerry, just wanted to say another great video. Thanks Rick

@lasvegasliving9237 7 ай бұрын

Thanks so much Rick! Much appreciated! Happy Thanksgiving! 🦃🙏👍

@jeffcauhape6880 7 ай бұрын

Thank you for the straight talk and the Zillo examples.

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks for the support Jeff! Happy Thanksgiving!🦃🙏👍

@damico6 7 ай бұрын

Appreciate your work!

@lasvegasliving9237 7 ай бұрын

Thanks so much! Happy Thanksgiving!🦃🙏👍

@horaciosanchez142 7 ай бұрын

Thank you for the information Jerry. I recently had a job opportunity in Vegas, but decided to turn it down. The job came with a nice salary bump, but we still own a house in California and our daughter is in her last year of high school. We decided to wait for such a move because of such, and am glad at this point. If we do finally decide to make the move, I know who to contact in Vegas. Thank you buddy.

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support! Happy Thanksgiving!🦃🙏👍

@Mr8675309ful 7 ай бұрын

Jerry, great video. You are my guy when I return to Las Vegas from my overseas stay.

@lasvegasliving9237 7 ай бұрын

Thanks so much! Happy Thanksgiving!🦃🙏👍

@user-sz6xs2xr9j 7 ай бұрын

Good news Jerry thanks you ❤

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks for the support!

@drewaksparky1013 7 ай бұрын

Live way out in western Alaska, if we ever move to Vegas will definitely give this guy a call

@lasvegasliving9237 7 ай бұрын

Much appreciated! Happy Thanksgiving!🦃🙏👍

@lasvegasliving9237 6 ай бұрын

@@FrancisMcKinney Lol..appreciate the support. 👍

@TuanNguyen-yc4wz 7 ай бұрын

Hi JERRY. How are you. I wish you and your family Happy Holiday THANKSGIVING👍😊🍾.

@lasvegasliving9237 7 ай бұрын

I am well, thank you. Happy Thanksgiving!🦃🙏👍

@Dive-Bar-Casanova 7 ай бұрын

Outstanding video, the truth is always more interesting than gaslighting. Thumbs up.

@lasvegasliving9237 7 ай бұрын

Thanks so much!🙏

@BreezeOffroad 7 ай бұрын

Oh my gosh, that was a great video. I actually ran into the same thing on Zillow, and I thought that was incredibly strange how it would just bump up to the value they were asking.

@lasvegasliving9237 7 ай бұрын

The data from Zillow is getting more and more inaccurate. I'm finding a lot of inconsistencies with their algorithm. Sometimes it's okay but other times it is definitely not. Thanks for the support!🙏

@jontris6118 7 ай бұрын

@@lasvegasliving9237 Zillow is STOPPING with HORRENDOUSLH ERRONEOUS ZESTIMATES.

@robertcampbell8275 7 ай бұрын

Very good video keep up the great work

@lasvegasliving9237 7 ай бұрын

Thanks so much Bob!🙏👍

@michaels7258 7 ай бұрын

Those Zillow examples are wild! I paid $20 for a 21lb turkey at Costco btw. Thanks as always Jerry!

@lasvegasliving9237 7 ай бұрын

Thank you for the support! I guess turkey prices are not crazy everywhere. Happy Thanksgiving!🦃🙏👍

@28richfield 6 ай бұрын

Thank you for your video.

@lasvegasliving9237 6 ай бұрын

My pleasure! Thanks for the support!🙏👍

@lockup6104 7 ай бұрын

Mahalo Jerry🍍👍🏽🌴🤙🏽🇺🇸🏝️🥥🌺Still Waiting Patiently for LV and your input helps to bring clarity on why I am

@lasvegasliving9237 6 ай бұрын

Mahalo buddy! Thanks for the continued support! Happy Thanksgiving!🦃🙏👍🌴

@user-lh1ss1fp5q 7 ай бұрын

Thank you for your honesty for telling the truth and not parroting the lies told in the MSM and on all the business channels.

@lasvegasliving9237 7 ай бұрын

My pleasure! Thanks for the support! Happy Thanksgiving!🦃🙏👍

@TKOB 7 ай бұрын

Zillow must also be in the real estate sales market no other way to explain that zestimate increase.

@lasvegasliving9237 7 ай бұрын

They are.

@jackbelkada3864 6 ай бұрын

Thanks for this great video

@lasvegasliving9237 6 ай бұрын

My pleasure! Thanks for the support Jack! Happy Thanksgiving!🦃🙏👍

@LMFAO_101 6 ай бұрын

Thank you!

@lasvegasliving9237 6 ай бұрын

My pleasure! Thanks for watching! Happy Holidays!🎄🎉

@dekaywill4572 7 ай бұрын

Here in Houston that cooked turkey is $75. My wife just bought a 20lb turkey for 10 bucks. Slap it in the oven and save $65.

@lasvegasliving9237 7 ай бұрын

Prices are just crazy! Good advice! Happy Thanksgiving!🦃🙏👍

@ceciliapreziose3783 7 ай бұрын

Happy Thanksgiving Jerry to you and your family!

@lasvegasliving9237 7 ай бұрын

Happy Thanksgiving!🦃🙏👍

@chadlusk2928 7 ай бұрын

Wow that’s too expensive for me for a turkey. I just bought a organic turkey from Costco 21 pounder cost me $71.00. But I’m cooking for 15 people for Thanksgiving. It will probably cost me a total of $150 for food cost for Thanksgiving. I appreciate all of your insight. I will call you when I’m ready to buy. Thanks Chad

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support Chad! Happy Thanksgiving!🦃🙏👍

@johnrokss8971 7 ай бұрын

Great video I look forward to your weekly videos

@lasvegasliving9237 7 ай бұрын

Thanks so much! Happy Thanksgiving!🦃🙏👍

@Nicehousecrappycar 7 ай бұрын

as an old supervisor said to me, "Good Catch!"

@lasvegasliving9237 7 ай бұрын

Thanks for sharing.👍

@petesson1880 7 ай бұрын

I just put a 13 pounder on my Weber. Should be done by 2:45. If you've never bbqed a turkey You're missing out! Make about a 12" round 1/2" mesh screen with a bottom in it and place it in the center with a good sized rock to hold it down. Briquettes all around. Light em, once white place seasoned turkey with half a cube of butter in various spots over the middle. The mesh keeps charcoal out from right under bird preventing burning. Rub almost half a stick butter every 30 minutes until done about two hours later. You won't believe how good it is!

@lasvegasliving9237 7 ай бұрын

That sounds delicious! Thanks for sharing. Happy Thanksgiving!🦃🙏👍

@thomasfranco5997 7 ай бұрын

That's why I finished paying my car back in 2016. I opened at work a 401-k Roth. Deposit the amount I was paying monthly on the car to the account. I retired back in September in 2021. I took out from the account after for 5 years and paid off all my credit cards which left me some for me to deposit the rest in my checking account. Within 5 years, I built up $24,000 in the account. My credit cards totaled were $12,000. Now each month I have $950.00 extra income a month. Be smart with your money. May God Bless You Jerry!!!

@lasvegasliving9237 7 ай бұрын

Thanks for sharing that info and appreciate the support Thomas! Happy Thanksgiving!🦃🙏👍

@thomasfranco5997 7 ай бұрын

@@lasvegasliving9237 Have a Great Thanksgiving to you and your family.

@Capcom007 6 ай бұрын

You are awesome. Thank you 🤙

@lasvegasliving9237 6 ай бұрын

Much thanks!🙏👍

@dadrewco100 7 ай бұрын

Like your graphs show the Las Vegas market is like riding a rollercoaster . Up and down . People need to hit the market at the right time . As far as Zillow goes buyer beware .

@lasvegasliving9237 7 ай бұрын

Thanks. It is hard to time the market so it is important to watch the economy and check data carefully to make sure you are not overbidding.

@oceanside88 7 ай бұрын

Why is Vegas so volatile. An old friend lost big in thr last bubble.

@lasvegasliving9237 7 ай бұрын

Las Vegas has notoriously been vulnerable to housing market fluctuations and the local economy is highly affected during economic turbulence. However, this time around there has been a lot more stability because we have yet to see any economic or pricing corrections post pandemic. That could be changing soon.

@thelocustemperor 7 ай бұрын

Thanks for the video, what Zillow is doing is inappropriate and it's good to see that people like yourself are willing to call them out on it!!

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support!🙏

@rickreese5794 7 ай бұрын

Right On…..😊

@lasvegasliving9237 7 ай бұрын

Thanks!

@lynnejakins9989 7 ай бұрын

Very expensive Turkey. Thank you for your knowledge and honesty

@lasvegasliving9237 7 ай бұрын

Very expensive! Thanks for the support! Happy Thanksgiving!🦃🙏👍

@khonzi4266 7 ай бұрын

That's a jive turkey.

@lasvegasliving9237 7 ай бұрын

Lol...good one!

@jasonmerlino3903 7 ай бұрын

I have noticed that with Zillow before.. Good work...

@lasvegasliving9237 7 ай бұрын

Thanks! Appreciate the support! Happy Thanksgiving!🦃🙏👍

@duanejahn2368 6 ай бұрын

I really enjoyed the video. Experience tells me that using a single demographic to explain an overall economic picture seldom provides an accurate picture of reality. For example, people who either own their home or have a super low interest rate mortgage are somewhat immune from most of the points you correctly made in the video. IMO

@lasvegasliving9237 6 ай бұрын

Thanks so much for the support! I agree that the lower interest rate or outright owners do not make up the majority of homeowners. I try to paint a more widespread picture to show the realities of the overall market. Happy Thanksgiving!🦃🙏👍

@hulkhulk5141 6 ай бұрын

This is it!!! It’s finally really here!!!

@lasvegasliving9237 6 ай бұрын

We'll see.

@jagpilotohio 7 ай бұрын

The economy is actually doing reasonably well considering most other industrialized countries around the world are struggling far worse.

@lasvegasliving9237 7 ай бұрын

We will always do well compared to other countries. Not really a fair comparison.

@Meemaw224 6 ай бұрын

It is an absolute train wreck....last time I checked, there were about 5200 existing properties listed for sale and only 15 were pending. That means the buyer pool is practically non-existent!

@lasvegasliving9237 6 ай бұрын

The tide is now starting to turn. I think that will continue to get worse until prices start to break down.

@steveho9890 7 ай бұрын

Home prices in Vegas are obviously higher than these in last winter. But one of my friends bought a house anyway using cash of course. He had to buy.

@TheMinimalistMom1 7 ай бұрын

We are buying too :)

@lasvegasliving9237 7 ай бұрын

Everyone has different motivation and timelines regarding buying.

@Idelia412 7 ай бұрын

No turkey for me...Ribeye steak is what I will have on the grill!

@lasvegasliving9237 7 ай бұрын

Sounds even better! 🥩

@GahBoe 6 ай бұрын

I noticed those quick price increases once the house went for sale. It was so strange, I wondered if maybe there was a service you could pay Zillow to bring the estimate according tot the list price.

@lasvegasliving9237 6 ай бұрын

There is no such service like that from Zillow (from what I know). I find it very disconcerting that there are so many inaccuracies with their "zestimate" algorithm.

@GahBoe 6 ай бұрын

@@lasvegasliving9237 Don't you think it's a conflict of interest that Zillow has been a commercial purchaser of homes, and is in charge of valuing said homes?

@lasvegasliving9237 6 ай бұрын

@@GahBoe 100%!! It's absurd that they get to control the market the way they do.

@naked_rider_au 7 ай бұрын

I wish I was looking at buying a place..( i live in Australia).this guy would be my go to! Good on you for spitting facts. Hmm...maybe an apartment 😅

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support! Much appreciated! 🙏

@fokker4uify 7 ай бұрын

That first house is super nice!

@lasvegasliving9237 7 ай бұрын

Yes, very nice!

@michaelparman2305 7 ай бұрын

Great show today…you should have many more subscribers…

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support! Happy Thanksgiving!🦃🙏👍

@user-bd5nh5eb4b 7 ай бұрын

I know that you have no crystal ball, and many are hoping for responsible government after the next election, but if you had to make a prediction, would you say two to three years until s better climate, or longer? Love your videos, and fully recognize the hard work you put in on these. It doesn't go unappreciated ❤! I noticed this one has only been posted six hous and already 25000 views, that means you are sought out🎉❤.

@lasvegasliving9237 7 ай бұрын

I think we could see home prices take a while to bottom, possibly a couple of years since real estate down cycles usually take a few years until prices bottom from the top (peak prices were May 2022). Thanks so much for the kind words and support! Happy Thanksgiving!🦃🙏👍

@koolkev4531 7 ай бұрын

MGM is charging 100 dollars parking today for F1 race.

@lasvegasliving9237 7 ай бұрын

Absurd...more than the ticket prices now.

@subaruamazon 6 ай бұрын

hi jerry. NJ here. I never trust zillow or redfin estimates. they are always funky. So are we going to go through a Carter period with 18 percent rates? your thoughts. from top to bottom, how much will the price of houses drop. your videos are well prepared and insightful. you offer knowledge that the mainstay business media doesnt. keep up the good work.

@lasvegasliving9237 6 ай бұрын

Thanks for the support! It's hard to know where rates will end up as well as prices. The Fed is committed to getting inflation back to 2% but that will take more rate hikes IMO. I see more downside coming but likely will be a slow grind down Time will tell. Happy Thanksgiving!🦃🙏👍

@dekaywill4572 7 ай бұрын

Think I saw a post on Zero Hedge that showed a graph that 38 percent of all homes have no mortgage. FYI. Thought that was pretty interesting. Maybe why prices are still sticky and slow to come down.

@PapaGraves 7 ай бұрын

I wonder how many of those 38 percent are regular John and Jane Doe versus a large corporation. People need to own their homes not the super elites who pretend to be better than us and just want the masses to rent and be controlled.

@lasvegasliving9237 7 ай бұрын

I don't think the number is that high but many people have very low rates/mortgages which is artificially surpassing inventory because how high rates are now.

@AnimationByDylan 7 ай бұрын

Oddly I don’t live in Las Vegas and have no interest in buying a home there, but I enjoy this channel nonetheless.

@lasvegasliving9237 7 ай бұрын

Thank you so much for watching and the support! Happy Thanksgiving!🦃🙏👍

@hushpuckena126 7 ай бұрын

Next town over, there's a mansion which was assessed at $6.2m; after the owner complained, the assessment was knocked down to $5m. It's listed on Zillow at $15 million (that is not a typo). On the Zillow table, the number ran at roughly $5m for well over a year, before that funky algorithm jacked it to the current number, just like that. I've actually been inside this house, and it's something.

@lasvegasliving9237 7 ай бұрын

That's just completely absurd! 🤦🏻‍♂

@owenkwong3358 7 ай бұрын

Liked 👍 Thanks Housing is getting disaster had to approved my current tenant to take share with another roommate to cut monthly rental costs otherwise my place will be vacant

@lasvegasliving9237 7 ай бұрын

That's the unfortunate reality that most people are suffering with in this housing market. Affordability has basically gone out the window for the majority of people. Hopefully that will improve soon.

@ProCoach2373 7 ай бұрын

I'm glad you caught the games Zillow plays. Their Zestimates are worthless. You can't base appreciation or depreciation numbers on Zestimates. The median price in Southern NV has been holding very steady for 6 months.

@lasvegasliving9237 7 ай бұрын

I'm not a fan of the tactics Zillow is using and how inconsistent they have become in recent time. I see those prices coming down soon enough. Thanks for the support!

@BoulderCityBlues 7 ай бұрын

Why don’t you ever tell people that Las Vegas has one of the worst school systems (CCSD ) in the entire nation .Las Vegas also has some of the worst health care in the nation …Las Vegas also has an energy monopoly company Nevada energy who all but doubled their rates so someone with a 2000 monthly mortgage will be spending an additional 1000 a month to keep it cool in the summer when it’s over 100 degrees at night so unless you have solar you’re screwed.

@lasvegasliving9237 7 ай бұрын

You are 100% correct regarding the education and healthcare systems here in Las Vegas. It is embarrassing. The energy company scenario also jacked up rates but not to the tune of $1000/month. The costs are much lower on an average basis throughout the course of 12 months.

@Variety1985 6 ай бұрын

When John (Revelation) said it would take a DAYS WAGE to buy FOOD ... I thought he might had seen a HARRY & DAVID catalog but, maybe it was just that TURKEY 😂

@lasvegasliving9237 6 ай бұрын

Lol..

@ryanrodgers6969 7 ай бұрын

Unfortunately most people look at headlines not at the fine print. People hear stock market up rates down and think we are fine while they are paying 15 bucks for a Big Mac meal.

@lasvegasliving9237 7 ай бұрын

Most people walk around without a clue and just continue to spend when they shouldn't which has fueled all of this hyperinflation.

@JohnnyJolter69 7 ай бұрын

All these so-called price cuts remind me of the Biden Meme which shows the following- raise prices 400% for everything; then lower the prices 200%, then take credit for lowering prices. These homes are still way overpriced even with the so-called price cuts. According to U.S. Census Bureau -Income & Poverty Median household income (in 2021 dollars), 2017-2021- is $61,356. With the rising cost of food, and utilities etc. who is affording these homes? "Measure twice & cut once." is a great quote. Thanks for all you do and for this information. I've noticed that for my family of 4 even going to the cheap fast junk food places you can easily spend 50 per meal and if you do the math on that it equates to 100 per day eating twice per day or 3k per month if you were to eat out daily. Something must give here. These aren't fancy restaurants, it's what used to be junk food like McDonalds, and Burger King etc. These fast-food restaurants have forgotten their role, and place in society. They only existed because it was the place to go when you may be a little tight on funds before pay day. We never ate there because we loved their food. All these prices on EVERYTHING are going to soon see a massive correction; or it just won't exist. With regards to homes, I still believe that you can't have an investment in inventory that has no capability of turnover. www.census.gov/quickfacts/fact/table/lasvegascitynevada

@lasvegasliving9237 7 ай бұрын

Thanks so much for the support and your feedback Johnny! Much appreciated! Happy Thanksgiving!🦃🙏👍