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Predictions that new home sales will continue to grow this year have been further solidified by the results of a recent study conducted by Home Builders Research. In comparison with 2012, new home sales are up 94 percent for the first two months of the year. According to Dennis Smith, the president of Home Builders Research, "It’s not a surprise that new-home recorded sales are stronger than the past two years as we are comparing the present results with the bottom of the cycle." He expects large increases in year-to-year prices for most of 2013 because of the lack of resale inventory and rising land prices. Smith added, “I’m not saying they’re going up forever, just in the next year... It’s good for people who own homes, but not for those looking to buy before prices go up.” Check out the article for more information: http://www.reviewjournal.com/business/housing/las-vegas-new-home-sales-surge-94-percent-2013
Photography: JEFF SCHEID Source: REVIEWJOURNAL.com
The selling season kicks off to a strong start around much of the country as recovering market trends continue to show improvement. Click on the images below to view this month's official RE/MAX National Housing Report:
New money-making strategies for "savvy" Vegas valley investors? Here's what the LV Review Journal article has to say: "Savvy investors in Las Vegas are buying up small homeowner’s association liens at auction and making money by renting out homes they don’t actually own until the mortgage-holder comes knocking, in some cases as long as two years later."
According to this recent article from the Las Vegas Review Journal, active investors in the valley are now targeting more than just your average underpriced home. They're on a search for quality real estate assets that are already in the process of producing income. Sound interesting? Check out the link provided below to read more on the story!
From the article: "Nevada’s foreclosure starts jumped 334 percent in February from the same month a year ago, leading the nation in year-over-year percentage gains, online foreclosure listing service RealtyTrac reported late Wednesday."
The competition between Las Vegas homebuilders to purchase residential land is stronger than it has been in quite a long time. This heavy demand for new homes in Las Vegas has created an unusual situation where bid prices are higher than their logical value. Click the article linked below for more details!
According to RealtyTrac’smost recent foreclosure and short salesreport, distressed sales continue to claim a “disproportionately high portion” of total home sales across the country. On top of short sales and foreclosures taking up a large bulk of United States home sales, the firm also found increases in prices for distressed properties in 2012.
According to a newly published article by the Las Vegas Sun, home prices rose 9.7 percent in January from just a year ago. Furthermore, prices rose in all states except Delaware and Illinois. Nevada had a major statewide gain with home prices rising by 17.4 percent, second to only Arizona where prices rose by an impressive 20.1 percent. Check out the link provided below to get more information!