Greater Las Vegas Real Estate News

 

June 18, 2020

7207 Cabarita, Las Vegas, NV 89178

Posted in Market Updates
June 10, 2020

Safest Cities in America

This article was written by Adria Mak original article 
https://advisorsmith.com/data/safest-cities-in-america/

All Americans have an interest in living in safe communities, and the crime rate in a locale is an important determinant in everything from rent prices to individual decisions to live in and move to a community. Additionally, knowing which neighborhoods are safe is an important variable for small business owners when deciding where to start and expand a business. AdvisorSmith studied crime data from a federal database to determine the safest cities in the United States by city size.

In this study, we used the most recently available data from the FBI, released in September 2019, which includes crimes committed during calendar year 2018. Crimes considered in this report include violent crimes such as robbery, assault, rape, and murder, as well as property crimes including burglary, larceny, and motor vehicle theft. We created a proprietary crime score, which weights different types of crimes based upon the severity of the crime, with violent crimes weighted more highly.

Cities were divided into categories based,on their population. We excluded towns with populations under 10,000. Cities with populations of less than 100,000 were labeled as small cities, while cities with populations of 100,000 to 300,000 were considered midsize cities. Any cities with populations over 300,000 were labeled large cities. This study included 3,107 small cities, 214 midsize cities, and 62 large cities, for a total of 3,383 cities.

Below are links to the safest small, midsize, and large cities:

What are the safest U.S. cities?

Broadview Heights, Ohio was the safest small city in the United States. This small and affluent suburb of Cleveland with a population of roughly 19,000 had very little crime and also boasts excellent public schools. Among the top 20 small cities, four were in Ohio, five were in New York, and five were in New Jersey.

Cary, North Carolina was the safest midsize city in the United States. Cary is part of the Research Triangle metropolitan area along with Raleigh and Durham, and the city has a high-income, highly educated population. Of the top ten midsize cities, five were in California, and three were in New Jersey.

The safest large city in the United States in our study was Virginia Beach, Virginia. This mostly suburban coastal city has the world’s longest pleasure beach, which contributes to the city’s tourism economy. Four of the safest large cities in the top ten were cities in California.

Methodology

This study on the safest cities in the United States was conducted based upon data provided by the Federal Bureau of Investigation’s Uniform Crime Reporting Data Set from Return A. This data set contains crime reports from cities, counties, metropolitan statistical areas, and other jurisdictions around the country. Specifically, monthly crime data for violent crimes such as murder, rape, robbery, and assault, and property crimes such as burglary, larceny, and motor vehicle theft are provided for each jurisdiction in the data set.

Our study focused on the crime rate in cities around the country. We used a definition of city as legally incorporated municipalities. This definition differs somewhat from how many people think about cities such as contiguous metropolitan areas. However, since crime tends to be a local or hyper-local issue, providing data at a municipal level provides important granularity to understand the distribution of crime.

Cities were divided into one of three groups based on population, with small cities having populations between 10,000 to 99,999 residents, midsize cities from 100,000 to 300,000 residents, and large cities having more than 300,000 residents. Towns with populations below 10,000 were excluded from this study.

Data from the data set was provided on a monthly basis. In order to ensure accuracy of results, we excluded cities where only six months or less of data was available. For cities that provided at least six months of data but less than 12 months of data, we scaled up the months reported to a proportional amount of crime for the entire year.

Our study tabulated the violent and property crimes per 1,000 residents per year for publication. We also created a proprietary crime score that was based upon applying a multiplier to more serious forms of crime such as murder, rape, robbery, and aggravated assault. These crimes were added to simple assault and property crimes to form a crime score for each city, with a lower score indicating that a city experiences less crime. We then ranked the cities based upon their crime scores to determine the safest cities in the United States.

Sources
1. Federal Bureau of Investigation, Uniform Crime Reporting, Return A, 2018

to view charts and more statistics see full article http://advisorsmith.com/data/safest-cities-in-america/

 

 

Posted in News
April 7, 2020

How Will Unemployment Effect Home Sales?


Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close (think: your neighborhood restaurant). In a recent interview he said:

“This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole.”

That’s promising, but we’re still uncertain as to when the recently unemployed will be able to return to work.

Another concern: how badly will the U.S. economy be damaged if people can’t buy homes?

A new concern is whether the high number of unemployed Americans will cause the residential real estate market to crash, putting a greater strain on the economy and leading to even more job losses. The housing industry is a major piece of the overall economy in this country.

Chris Herbert, Managing Director of the Joint Center for Housing Studies of Harvard University, in a post titled Responding to the Covid-19 Pandemic, addressed the toll this crisis will have on our nation, explaining:

“Housing is a foundational element of every person’s well-being. And with nearly a fifth of US gross domestic product rooted in housing-related expenditures, it is also critical to the well-being of our broader economy.”

How has the unemployment rate affected home sales in the past?

It’s logical to think there would be a direct correlation between the unemployment rate and home sales: as the unemployment rate went up, home sales would go down, and when the unemployment rate went down, home sales would go up.

However, research reviewing the last thirty years doesn’t show that direct relationship, as noted in the graph below. The blue and grey bars represent home sales, while the yellow line is the unemployment rate. Take a look at numbers 1 through 4:Will Surging Unemployment Crush Home Sales? | MyKCM

  1. The unemployment rate was rising between 1992-1993, yet home sales increased.
  2. The unemployment rate was rising between 2001-2003, and home sales increased.
  3. The unemployment rate was rising between 2007-2010, and home sales significantly decreased.
  4. The unemployment rate was falling continuously between 2015-2019, and home sales remained relatively flat.

The impact of the unemployment rate on home sales doesn’t seem to be as strong as we may have thought.

Isn’t this time different?

Yes. There is no doubt the country hasn’t seen job losses this quickly in almost one hundred years. How bad could it get? Goldman Sachs projects the unemployment rate to be 15% in the third quarter of 2020, flattening to single digits by the fourth quarter of this year, and then just over 6% percent by the fourth quarter of 2021. Not ideal for the housing industry, but manageable.

How does this compare to the other financial crises?

Some believe this is going to be reminiscent of The Great Depression. From the standpoint of unemployment rates alone (the only thing this article addresses), it does not compare. Here are the unemployment rates during the Great Depression, the Great Recession, and the projected rates moving forward:Will Surging Unemployment Crush Home Sales? | MyKCM

Bottom Line

We’ve given you the facts as we know them. The housing market will have challenges this year. However, with the help being given to those who have lost their jobs and the fact that we’re looking at a quick recovery for the economy after we address the health problem, the housing industry should be fine in the long term. Stay safe.

 

Please contact me if you have any questions. I'm here working from home & virtually for my clients!

 

Becky Ashby

Signature Real Estate Group

License #S.0174843 LLC

702-816-6292

220 Paseo Verde Pkwy #300

Henderson, NV 89052

www.beckyashbyhomes.com

 

 

Posted in News
April 1, 2020

Don't Give Up on Your Dreams of Home Ownership!

Please feel free to reach out to me as a licensed agent I have answers for you in this confusing time!

Becky Ashby
Signature Real Estate
702-816-6292
NV.RED S.0174843 LLC
Posted in News
March 25, 2020

Clearing Up Some Real Estate Misconceptions in These Uncertain Times

I wanted to send this video message to my friends and clients that have questions in these uncertain times. Covid-19 has changed the way we interact and the way we do business. I am here for you in this time of need!

Becky Ashby 

702-816-9292

Signature Real Estate Group

License #S.0174843 LLC

702-816-6292

220 Paseo Verde Pkwy #300

Henderson, NV 89052

www.beckyashbyhomes.com

Posted in News
March 23, 2020

Three Reasons Why This Is Not a Housing Crisis

Three Reasons Why This Is Not a Housing Crisis

Three Reasons Why This Is Not a Housing Crisis | MyKCM

In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what’s come before us is one of the many ways we can confidently evaluate any situation. With concerns of a global recession on everyone’s minds today, it’s important to take an objective look at what has transpired over the years and how the housing market has successfully weathered these storms.

1. The Market Today Is Vastly Different from 2008

We all remember 2008. This is not 2008. Today’s market conditions are far from the time when housing was a key factor that triggered a recession. From easy-to-access mortgages to skyrocketing home price appreciation, a surplus of inventory, excessive equity-tapping, and more – we’re not where we were 12 years ago. None of those factors are in play today. Rest assured, housing is not a catalyst that could spiral us back to that time or place.

According to Danielle Hale, Chief Economist at Realtor.com, if there is a recession:

"It will be different than the Great Recession. Things unraveled pretty quickly, and then the recovery was pretty slow. I would expect this to be milder. There's no dysfunction in the banking system, we don't have many households who are overleveraged with their mortgage payments and are potentially in trouble."

In addition, the Goldman Sachs GDP Forecast released this week indicates that although there is no growth anticipated immediately, gains are forecasted heading into the second half of this year and getting even stronger in early 2021.Three Reasons Why This Is Not a Housing Crisis | MyKCMBoth of these expert sources indicate this is a momentary event in time, not a collapse of the financial industry. It is a drop that will rebound quickly, a stark difference to the crash of 2008 that failed to get back to a sense of normal for almost four years. Although it poses plenty of near-term financial challenges, a potential recession this year is not a repeat of the long-term housing market crash we remember all too well.

2. A Recession Does Not Equal a Housing Crisis

Next, take a look at the past five recessions in U.S. history. Home values actually appreciated in three of them. It is true that they sank by almost 20% during the last recession, but as we’ve identified above, 2008 presented different circumstances. In the four previous recessions, home values depreciated only once (by less than 2%). In the other three, residential real estate values increased by 3.5%, 6.1%, and 6.6% (see below):Three Reasons Why This Is Not a Housing Crisis | MyKCM

3. We Can Be Confident About What We Know

Concerns about the global impact COVID-19 will have on the economy are real. And they’re scary, as the health and wellness of our friends, families, and loved ones are high on everyone’s emotional radar.

According to Bloomberg,

“Several economists made clear that the extent of the economic wreckage will depend on factors such as how long the virus lasts, whether governments will loosen fiscal policy enough and can markets avoid freezing up.”

That said, we can be confident that, while we don’t know the exact impact the virus will have on the housing market, we do know that housing isn’t the driver.

The reasons we move – marriage, children, job changes, retirement, etc. – are steadfast parts of life. As noted in a recent piece in the New York Times, “Everyone needs someplace to live.” That won’t change.

Bottom Line

Concerns about a recession are real, but housing isn’t the driver. If you have questions about what it means for your family’s homebuying or selling plans, let’s connect to discuss your needs.

Please contact me today. 

Becky Ashby

702-816-6292

beckyjoo400@outlook.com

Posted in News
Feb. 21, 2020

What New Home Builders Don't Want Buyers to Know

Becky Ashby your Las Vegas Realtor® has a message for buyers considering new home construction. What you need to know before walking into the new model home. Remember that the agent behind the desk has the builders best interest at heart. Buying a new home is one of the largest purchases you will ever make and let's not forget a legal contract. Buyers need to be represented by someone looking out for them.

For more information about new homes in Cadence or anywhere else in the valley give me a call! 

Becky Ashby

702-816-6292

www.beckyashbyhomes.com

 

Here are 10 things to do when you buy new construction:

Use a real estate agent if you can. Since the seller typically pays the commission, it costs a buyer nothing to be represented by a real estate agent, and many builders are happy to work with agents. An agent who regularly deals with builders and knows the local communities will provide lots of helpful information.

Check out the builder. Many home builders have been in the business for years and produce a quality product. However, a few do not. Check review sites, state licensing boards and the local court records to see whether the builder you're considering has run into any trouble, including lawsuits, complaints with licensing agencies and disciplinary actions by state and local agencies. This is also a good time to talk to previous customers.

Research the community. Before you buy, find out as much as you can both about the area and the subdivision or condo itself. Visit at different times of day, and talk to residents about what they do and don't like.

Choose square footage and location over upgrades. Think about how you want to spend your limited budget. You can never change your home's location, for example, but you can upgrade flooring later. Apply that logic to other choices as well. If you're choosing between a fourth bedroom and granite countertops, you probably should choose the extra bedroom, which is much more expensive to add later. 

Don't over improve. Choose a home size and options comparable to those of your neighbors. You want to keep up with the Joneses but not get too far ahead of them. You don't want to price yourself out of the neighborhood with things that no one else has, but you also don't want to be the only house on the block with linoleum if everyone else has gone hardwood.

Understand your floor plan. Most floor plans include room sizes, and if you don't understand those, take a measuring tape to your current home. Many builders offer virtual reality technology that lets you see what's going to be built, but a better option is to visit a home with the floor plan you want, even if it's still under construction or in a different community. 

Have a lawyer vet the contracts. Contracts for new construction are complex. As with all legal affairs, it makes sense to have an expert look them over before your sign.

Ask about warranties. Most builders offer warranties on materials and workmanship. Pulte and its companies Centex and Del Webb, for example, offer a one-year warranty on workmanship, a two-year warranty on mechanical and electrical elements, five years on water leaks and 10 years on structure. Make sure you understand what is and isn't covered and what process you need to follow to get something fixed.

Get a home inspection. You may think you don't need to have a newly built home inspected. But getting an independent inspection before closing is always a good idea, and you want to be there so you can learn more about the home. "Newer homes can have just as many problems as older homes, and it's always better to know what you don't know before the last piece of paper is signed," Hicks says. "In the case of a newly built home, a good home inspector can help identify problems before a builder's warranty expires."

Get multiple bids from lenders and closing agents. Your builder may have a preferred lender and a preferred closing agent, and you may be offered discounts and other incentives to use those professionals. They may or may not be your best choice. Get quotes from additional lenders and closing agents, and then decide which is the best option for you.

 

Posted in News
Feb. 5, 2020

Weston Hills Property In Contract in Just 48 Hours!

 

I recently listed a townhome in Weston Hills and it only lasted on the market for 48 hours. These townhomes are perfect starter homes and very desirable for investors because they usually rent for about $1400. The Vegas market is so hot right now and inventory is going quick so if you have any questions about the market, reach out to me! I have pocket listings available!

Jan. 22, 2020

The 2020 Vegas Market is Already Heating up!

I really can't think of a more exciting time to live here in Las Vegas. Everyday there seems to be a new announcement, a new project, a new opportunity for our city. And it's not just about the economy and tourism. There is a newfound sense of community and pride in our town, something locals really longed for. We are creating a legacy for the next generations to come, and I am so thankful to be apart of it. Everyday I get to help so many people build their dreams here. 2020 is shaping up to be an exciting year, and I wanted to share my thoughts on what's to come.
Over the past few years Las Vegas has seen economic development like we haven't seen in decades, this has lead to a steady & stable housing market. Last year Las Vegas home prices stabilized and hit almost pre-recession values, even with inflation factored in. It took us a solid decade, but with the investment in our cities' infrastructure and careful strategy, we made Vegas one of the strongest economies in the country, not to mention one of the world's premier destinations.
Many years ago, we purposely diversified outside of tourism and gambling and it's paying off. With our appealing tax rates, business incentives, low commute times, affordable utilities and relatively low cost of living, companies and residents all over the country and moving here. From July 17 to July 18 over 50,000 Californians made up the 127,000 people that moved into Nevada.
The entire city is a buzz with anticipation. With the building of billions of dollars of new resorts, millions of new square footage of convention center space and new manufacturing facilities, the future couldn't be brighter for our city. We managed to attract some of the largest tech companies in the world, Google, Amazon, and Switch to name just a few. And probably the biggest impact we will see immediately is the Raiders relocating to Las Vegas officially in July of this year!
Just one look at the 2 billion dollar stadium going up you can't help but be in complete awe. Not only has it physically changed Las Vegas, it has already sparked massive growth in Las Vegas and Henderson. (Related Forbes Article: What's New in in Las Vegas The Best of 2020)
How Has the Housing Market Been Effected?
We've seen how this rapid growth has effected the housing market. Last year we watched anxiously as prices continued to rise, some even feared another bubble. Prices have since stabilized, but economists are still predicting a slow steady rise in 2020.
December report issued by Apartment List, shows Las Vegas rents are up 3.2 percent over the past year, the fifth fastest-growing rate among large cities. Since 2014, rents have grown by 20.6 percent compared with the national average of 11.3 percent.
The median price for a single-family home in December was $312,990, up 6% from the median price in December 2018, says the Greater Las Vegas Association of Realtors, or GLVAR.
That figure is also up from the median home price of $307,000 reported in November 2019.
"As we begin a new year and new decade, I think you can sum up the state of the local housing market with two words: stable and sustainable," association president Tom Blanchard said in a press release. Blanchard said he expects the housing market in 2020 to look a lot like it did in 2019. And it's only January, but we already seeing spring like activity. Inventory isn't staying on the market long and buyers are already getting a jump on the season.
There's Never Been a Better Time to Get Into the Market.
Henderson has experienced this impact at an explosive rate as well. The Raiders Headquarters is being constructed off St. Rose Parkway & Henderson Executive Airport and as a result has ignited the surrounding areas with business development. Henderson has seen the job market increase by 3.5% over the last year. More jobs are attracting a lot more people.
Developers are building, have finished in the past few years or have drawn up plans for a total of at least 36 projects, covering more than 1,000 acres and featuring nearly 6,900 homes, just in Henderson reported Las Vegas Review-Journal. Those are incredible numbers!
There were 171 closings in Henderson in October with the median price of $483,841. The lowest price was $255,500, and the highest price was $3.49 million.
Developers are building as fast as they can and resale prices are on the rise. Property values are climbing. Rent is on the rise. So if there were ever a time to get into the market now would be the time. With rates at an all time low, renters are moving into homes, homeowners are growing into newer, bigger homes and investors and picking up everything they can.
I've been working closely with my clients helping set them up for financial wealth through the best way how, real estate. If you have any questions about the market and what your next move should be call me today!
Many who know me, know I love living here in Las Vegas, specifically Henderson. I love the pace of the city and the amenities at your finger tips, but I also am a nature girl. I love finding places that I can escape to when I need some outdoor time. I need beautiful mountain views, water and some greenery mixed with the gorgeous desert landscape. And the neighborhood of Weston Hills in Henderson just before Lake Las Vegas, is a hidden little gem. Here you can find great walking trails and parks as well as tree lined streets. This neighborhood is filled with homes that are perfect starter homes or for those looking to invest. I wanted to show this to my clients and friends. I hope you get to experience Las Vegas outside of the strip and everything it has to offer. I look forward to sharing some of my favorite places with you!
Weston Hills Hendersons Best Kept Secret Neighborhood!
If you have any questions or would like to schedule a viewing, call or email me.
If you want to know about the market or property values, please feel free to reach out to me! There is really no better feeling I get than when I can help potential owners or sellers make the best decisions when it comes to some of the biggest decisions they will make in their lifetime. I've had the opportunity to work with so many great people over the years, I look forward to new clients that becoming good friends.
BECKY ASHBY | 702-816-6292 | beckyjoo400@outlook.com
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Posted in News
Jan. 8, 2020

Weston Hills, Henderson's Hidden Gem

Weston Hills is one of my favorite neighborhoods in Henderson. This community offers beautiful parks, beautiful mountain and desert views, great schools, neighborhood tennis courts, baseball fields and of course great properties. In this video I share one of my favorite Weston Hill features, hiking and walking trails. The Wetlands Trail is a scenic 15 mile trail right in Weston Hill's backyard and leads to Lake Las Vegas! 

Weston Hills is located in Henderson Nevada 89011

Check out my current Weston Hills listing featuring a completely upgraded kitchen and appliances!

To view the latest listings in 89011 Henderson including Lake Las Vegas, Tuscany, Cadence and Weston Hills visit:

homes for sale in Henderson Nevada