February 21st, 2019 By Goody from Mayor Al Litman
Mesquite Nevada State of the City
Mesquite Mayor Allan Litman gave his annual State of the City address at a Mesquite Chamber of Commerce luncheon held Wednesday, Feb. 13. “Much like a president’s State of the Union address, a State of the City speech should celebrate the community, recognize areas for improvement and set the policy agenda for the year based on the goals and agendas of it’s leaders,” he said. “I believe this address will cover these areas today.” Litman introduced a general good state of health as his theme for the year. “Mesquite is fine. Mesquite is good and getting better. Mesquite is a great place to live and enjoy life as I do,” he said. Litman credited the city’s rising success to those who live and work there. He praised residents’ hard work, love of community, generosity, belief in the future, respect for law and order and faith in local government. Litman gave a brief history of he city explaining that the early pioneers who attempted to settle the area were wiped out by floods twice in just a few years. “They persevered and came back,” he said. “Six young families from Bunkerville rebuilt the destroyed canals and finally made a permanent settlement.” Litman said that about 100 years later Mesquite was officially incorporated as a city with 1,110 residents at that time. “Mesquite persevered throughout the years,” he said. “We will continue to move forward.” He noted that the current full-time population is now 22,500. “A city does not run itself,” Litman said. “If it is to run correctly and smoothly, the staff must be dedicated to the betterment of the city.” He described the intense dedication and loyalty to the city required by city staff and city council members as well as the city’s various departments. He praised the fire department and recognized new Fire Chief Jason Andrus. He noted that a new fire engine was placed into service and that reserve staff grew from two to 10. Litman discussed the undertaking of a natural gas project and said that the department will be working with Southwest Gas to provide tactical procedures in responding to any natural gas emergency. Regarding the Department of Athletics and Leisure Services, Litman commended Director Nick Montoya on a job well done. He noted that the department has moved the city’s parks and facilities to a new water control system, saving the city water, money and time. Litman described the completion of the Town Square Park and noted that the city has acquired a Silver Sneaker Contract that will pay the city to keep seniors healthy and active. He noted that the department has plans to refurbish the S.E.C. Splash Pad in 2019 as well as obtain grant money for new park projects. Regarding the police department, Litman noted the designation of Mesquite as the safest city in Nevada. “This honor reflects the department’s strong relationship with the community and the combined effort of our citizens and officers in creating a proactive policing policy,” he said. The mayor detailed the many achievements accomplished by the Public Works Department under the direction of Billy Tanner including the upcoming installation of two new traffic signals. Litman spoke about many other invaluable departments and employees prior to noting recent city growth. In 2018, the city issued 338 single family residential building permits. “That is the highest since 2008,” he said. “Our growth is about 4.25 percent annually.” Litman said that an additional 19 commercial building permits, 40 commercial remodel permits and 52 new business permits were issued for a total of just under $100 million. He said that 339 new businesses licenses were issued last year which was the most in any year ever. Due to population growth the mayor said that the goal is to create a planning and zoning commission and that the city council will start that process. In conclusion, Litman detailed his goals for the city including improved public safety regarding better planning and action for future power outages and city-wide emergencies. “I don’t want us to just talk about this and hope we do not have an emergency beyond our control,” he said. “We need a real plan that will be in place and publicized to every home in the city.” He spoke about improvements he hopes to make in community health care, job creation, political leadership and stability, planned, quality growth, financial sensibility and more. “I conclude as I began today,” Litman said. “Mesquite is fine. Mesquite is well. Our future is bright. Embrace it for all it has to offer.”
February 14th, 2019
Are you thinking of buying or selling a home this spring? Keep these things in mind:
1. Prices won’t skyrocket.
The last few years have seen massive jumps in home prices, especially during the busy spring buying season. This year price growth is likely to slow down a bit in most markets. We may see higher prices at the height of the buying season, but they’re unlikely to be drastically higher than those seen at the end of 2018.
2. Year-over-year inventory will likely remain stagnant.
Because mortgage rates are rising, many homeowners are staying put. New home construction continues to grow, but it still lags behind buyer demand. This means we are unlikely to see an increase in listings from previous years.
3. Bidding wars will lessen.
The days of sight-unseen offers and heated bidding wars are mostly over. Except for a few hotter markets, most buyers will enjoy a slower-paced market and a little more leverage than in years past.
4. Sellers might have to make some concessions.
As mortgage rates rise, fewer buyers are looking to get in on the market, and that means sellers will need to do more to get their attention. This could mean more concessions and more room for negotiations.
Having a knowledgeable agent on your side is crucial to effectively navigating 2019’s changing housing market. If you’re considering buying or selling this year, get in touch today for personalized advice and guidance.
February 6th, 2019 By Goody
Median home price climbs to $300K in Las Vegas Area
The median sales price for existing single-family homes sold in Southern Nevada in January was $300,000, according to a report released today by the Greater Las Vegas Association of Realtors. That’s up 13.2 percent from $265,000 in January 2018. “Just when you thought these double-digit increases might become a thing of the past, it’s interesting to see the median home price go back up again,” GLVAR President Janet Carpenter said. The median sales price of condos and townhomes in January was $170,000, or up 13.4 percent from last January. The spike in sales prices is encouraging because January is traditionally one of the slow months in the Las Vegas housing market, Carpenter said.
Other highlights from January’s report include:
• Cash transactions accounted for 24.9 percent of purchases. That’s significantly below the 59.5 of cash buyers in February 2013 at the height of the recession, signaling investors are still active in the market but playing a smaller role.
• Homes and condos are selling at a slower pace, with 72 percent of existing local homes and 71.2 percent of existing condos selling within 60 days. One year ago, 76.8 percent of homes and 83.1 percent of condos sold within 60 days.
February 1st, 2019 By Goody
Mesquite Real Estate Statistics January 2019
Click the blue link below for the report......
January 30th, 2019 By Goody
Southern Nevada home prices up double over national average
Prices in Southern Nevada (Mesquite) were up 12 percent year-over-year in November, more than double the national rate of 5.2 percent, according to the S&P CoreLogic Case-Shiller index released Tuesday. Las Vegas’ price growth was fastest among the 20 markets listed in the report for the sixth straight month, and it was the only metro area with double-digit year-over-year price gains in November. In December, 142 single-family houses traded hands, down 18 percent from the same month in 2017, according to the Greater Las Vegas Association of Realtors. At the same time, the median sales price of single-family homes was $295,250 last month, up 10 percent year-over-year, the trade group reported. (did I say it was 72 degrees here yesterday during the Polar Vortex?)
January 27th, 2019 By Goody
Mesquite Nevada December 2018 Building Permits Issued
16 single-family residential permits were issued for December 2018 vs 26 permits for last December 2017. Sun City Mesquite, took out eight permits, Nevada Residential Construction (NRC) took out five permits,Jackson Contracting took out two permits & one private homeowner took a permit.
January 18th, 2019 By Goody
Nevada, Arizona working to finalize Colorado River drought plan
You have heard me beating this drum but Mesquite IS NOT on the Colrado River System for their culinary water needs. This does not apply to Mesquite. Mesquite pulls its culinary water from underground aquafiers. This contingency plan is due 1/31/19.
The Drought Contingency Plan calls for Nevada, Arizona and, eventually, California to voluntarily reduce their use of the river to leave more water in Lake Mead. Arizona would give up 192,000 acre-feet of water, and Nevada would give up 8,000 acre-feet under the first round of annual cuts. California would join in the reductions for the first time, surrendering 200,000 acre-feet of water a year, should Lake Mead drop another 40 feet from where it is now. Thursday’s update came amid more bad news for the iver. According to federal projections released this week, Lake Mead is expected to drop 16 feet over the next year. That would trigger a first shortage declaration and require Nevada and Arizona to reduce their annual river use by 13,000 acre-feet and 320,000 acre-feet respectively — cuts that would come on top of the voluntary ones now being discussed as part of the drought plan. Worse yet for Lake Mead, California’s largest municipal water agency has announced plans to start withdrawing some of the water it has stored in the reservoir to prevent it from being locked away in the now-likely event of a shortage. The drought contingency plan would loosen some of the restrictions on water bank withdrawals from Lake Mead during shortage. But in the absence of a finished drought plan, Jeffrey Kightlinger, general manager of the Metropolitan Water District of Southern California, said his agency could not afford to leave up to 600,000 acre-feet of reserves stuck in the lake. Entsminger said removing all that water could cause an additional 8-foot drop in Lake Mead. But he can’t blame his Southern California counterpart for threatening to do so.
January 17th, 2019 By Goody
Mesquite City Manager Forum
Mesquite City manager Andy Barton presented a resident forum at the Sun City Recreation Center today. He noted this was the largest turnout in his 7 years doing these. Way to go Sun City Residents. Some of the highlights I noted are below.
- Mesquite Population in 2018 is 22,557 a 8.25% increase from 2017. Sun City now has 1,519 Homes.
- Mesquite is the fastest growing and safest city in Nevada
- Mesquite issued 341 permits for single family homes in 2018 vs 329 permits in 2017.
- Sun City will roll out a few new neighborhoods in the next few years. Horseshoe Ridge is a smaller village of around 80 homes. Crimson Ridge is the big one at 245 Lots. This is just above Split rail. FYI......Sun City averages about 12 new builds per month.
- Deep Roots contributes over $700K in Tax revenue to the City of Mesquite. They have 95 employees.
- The RV Center that was supposed to come is being postponed due to a company restructure. They still own the land but have no plans to develop currently.
- No new business or restaurants that the City officials know about.
January 17th, 2019 By Goody with Graph from Realtor.com
2019 Top Real Estate Markets
What else can I say? Once again Las Vegas/ Mesquite projected to be a solid growth market.
January 17th, 2019 By Shane Butehorn Bank of England
2019 Mortgage Forecast
The start of a new year is a great time to reflect on the prior year and the markets that often matter most to homeowners and potential buyers. For several years, mortgage rates remained very low, and home prices climbed steadily. 2018 saw a moderation of those trends as rates began to rise. Home prices still grew, just not as quickly. Homeowners stayed put, so the inventory of homes for sale was tight. Rates have since fallen back and have already triggered increased mortgage activity. The combination of continued inventory shortages and lower rates may also keep a solid floor under home prices as the spring market develops. Outside of home financing trends, good economic news and market uncertainty are setting the stage for the new year. Wage growth and very low unemployment could lead to more inflation, which has historically pushed rates higher. However, global economic pressures and political tensions could sustain the recent volatility in stocks and in turn, help to keep rates low. All in all, 2019 is set to take the markets on an interesting ride. During the year, if you or someone you know is ready to buy, sell or refinance, please reach out or pass along my contact information. I’m always happy to talk about what’s happening and the opportunities that may exist.