Home4Sale

What about Mortgage Rates?

The central reserve board just raised the prime lending rate another quarter of a percent. It looks like this trend will continue until that magical 'neutral rate' is acheieved and the economy can bake along at a substainable rate. What does this mean for home buyers and sellers, well it means that mortgage rates will be going up over the long term. Mortgage rates are not tied directly to the prime rate, but they do trend the same when taken over time. Rates are still at historical lows, but no one knows how long this will last. As for my sale, I hope this means more home buyers will be getting into the market hoping to close escrow before mortgage rates go up any more.

Realtor Open House

Announcing my first Realtor Open House. I'm very excited. It's this Wednesday, September 22nd 2004 from 11AM-2PM. For more information please visit our invitation page.

Of course, if you're not a Realtor or can't make it on Wednesday I'm happy to have you stop by earlier.

I'm Back!!!! I really didn't go anywhere...

I'm back. The real estate market has been undergoing a correction the past few months. It was decided that rather than try and guess what the market would do, we would just ride it out and then adjust as needed. Well, we think the market is done correcting. The result is more homes are on the market than ever, but more homes are selling each month than ever. Mortgage Interest rates are stable, if not a little lower than they were a few months ago, which is helping keeping the market strong. The New Home market is still very tight with costs rising monthly and waiting lists as long as ever. Las Vegas itself remains a hot destination for new residents and no one sees any end in sight to that trend.

All those factors and more, were considered last night and a new listing price was decided upon. Yes, it's significantly lower than where I was originally priced. But that was in June and the market was very different. Could I sell my original listing price today? Sure. Homes in that price range in my area sell every week. A property right down the street from me sold for $875,000 and many around me are listed at 800K and above.

If you're in the Las Vegas housing market as a buyer, realtor, or investor, I hope you'll look at my listing and then stop on by to see what makes me unique (as I've been trying to describe in the previous entries).

I look forward to seeing you soon!