Robert Good REALTOR® - RE/MAX Platinum Club & Hall of Fame Member
RE/MAX Ridge Realty of Mesquite Nevada
(801) 915-2398
Goody's Blog
 
September 19th, 2019 By Goody
The Property Brothers say these are two of the best cities for real estate investment
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list.  The brothers identified Las Vegas and Nashville as two of the top cities for real estate investment, “For us, we've really found where our headquarters are in Las Vegas and Nashville,” Drew Scott says. “Those are two of the most booming cities in the country right now. There's a lot of growth. And so we've been investing there.”  Mesquite is a feeder city off of Vegas.  We are a similar market.  Contact Goody and "AMA = Ask Me Anything"  I will be happy to help you.
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September 11th, 2019 By Goody
August Building Permits Slow Down from Last Year Mesquite Nevada

Single-family residence permits dropped from 27 in 2018 to 23 this year. Pulte Homes of Nevada, Sun City Mesquite, took out 11 permits in August while Nevada Residential Construction (NRC) took out 10 permits, and Jackson Contracting and AMB Construction taking out one permit each.

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September 6th, 2019 By Goody
July Market Report Mesquite Nevada
Please click below link for July's Market Report

/my_files/sun_city_mesquite/July%20Market%20Report.pdf
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September 5th, 2019 By Goody
AMA = Ask me Anything
I am more accesible than ever and keeping on top of the ever changing Real Estate Market.  I spend quite a bit of time and money staying current on how the markets are performing and the forecasts.  I am happy to share my knowledge with you at anytime.  AMA= Ask Me Anything
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August 30th, 2019 By Goody
Goody's Market Update (just so you know the real forecast)

With all the talk of a real estate slowdown – and memories of 2008 as the most recent example in people’s minds – there’s a perception that the home prices are trending downward.  What’s really happening is that price appreciation is slowing… but prices are not depreciating.  KCM researched the 2019 pricing projections of 100 leading housing economists.

Are you nervous? Don’t be…
Ninety-four of those predict home prices will continue to appreciate in 2019.
Two of them predict no change in home prices in the coming year.
Four of them predict a slight depreciation in home prices between now and 2020.

This is NOT 2007 all over again. As I’ve been saying all along, we’re simply in a “normal market” now.

AMA (Ask Me Anything) helps keep my clients up-to-date on market conditions and provide a “safe space” for you to ask any real estate-related questions you might have.  Just AMA

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August 30th, 2019 By Goody
Great Info and Graph on Recessions and Housing
Fresh on our minds is the year 2008 when we lost 19.7% value in the real estate market.  That crash was caused by housing and the bad loans.  Please click on the link below for an interesting look back at the last 5 recessions and their impact on housing.  Yes folks we are in the midst of the Longest Economic Recovery in American History.  And what ends an Economic Recovery is an Economic Slowdown (Recession).  Generally identified by a fall in GDP in two successive quarters.  In the 2001 Recession the stock market lost -25% while housing increased double the average at +6.6%.  This is a good time to diversify Stock to Real Estate.  The housing and mortgage markets are very strong.  In 3 of the 5 recessions, housing prices gained.  The 1 other loss was a marginal loss of 1.9%.  The Real Estate experts are telling us that with all the market turmoil, Real Estate is a great investment choice.  The high end market is seeing investors moving money from stocks to Real Estate.  So the confidence is there.  Buy or sell now do not wait!  Call Goody for more info or if you need help buying or selling.

Click below link for graph

/my_files/20190830-NM.jpg
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August 15th, 2019 By Goody
July numbers continue to show the market is steady

Las Vegas-area (Mesquite is similar) home prices continue to hover around a familiar price point, according to a housing market report released today. July numbers from the Greater Las Vegas Association of Realtors showed the median price for an existing single-family house at $303,000, a slight dip from the previous month. For July 2018, the median price was $290,000, according to the report.  Janet Carpenter, president of the GLVAR, said in a statement that the July numbers continue to show the market is steady.  “We’re running out of synonyms for stable,” Carpenter said. “Local home prices are appreciating but at a more gradual rate than they have been in many years. The local housing market hasn’t been this stable in nearly 20 years.”  Before slowing earlier this year, Las Vegas Valley existing house prices had generally been rising since early 2012.  In March, the median price for an existing house topped the $300,000 mark, an increase of just over 1% from February. The median price has been hovering around $300,000 since last fall.  The all-time high median price for existing houses in Southern Nevada was $315,000, a figure reached during the summer of 2006.  The median price for local condominiums and townhouses sold in July was $175,000, up more than a 5% from the same month in 2018.  Tom Blanchard, who will serve as president of the GLVAR next year, said a stable market is a good thing.  “I think the Las Vegas market is answering everybody’s prayers by taking a breather,” Blanchard said. “This is allowing working class Las Vegans to let their paychecks catch up and purchase a home.”  At the end of last month, the association reported that just over 7,800 houses in the Las Vegas Valley were on the market without an offer, a 63% increase from July 2018.  For condos and townhouses, 1,864 units were for sale with no offers at the end of last month, up 112% from July 2018.  

 

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August 13th, 2019 By Goody
American Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.

Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:

  • The share of Americans who say it is a good time to buy a home increased from the same time last year.
  • The share of those who say it is a good time to sell a home increased from the same time last year.
  • The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the same time last year.
  • The share of Americans who say mortgage rates will go down over the next 12 months increased dramatically (24 percentage points) from the same time last year.

The day after the index was released, Freddie Mac also announced the 30-year fixed-rate mortgage rate fell to its lowest level in three years.

Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae explained the uptick in the index:

“Consumer job confidence and favorable mortgage rate expectations lifted the HPSI to a new survey high in July, despite ongoing housing supply and affordability challenges. Consumers appear to have shaken off a winter slump in sentiment amid strong income gains. Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.”

Bottom Line

Consumers are feeling good about the real estate market. Since Americans are not worried about their jobs, see mortgage rates near an all-time low, and believe it is a good time to buy, the housing market will remain strong for the rest of the year.

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August 1st, 2019 By Goody
July Building Permit Info Mesquite Nevada

The city issued 34 permits for single family residences in 2019 vs 14 permits in 2018. Pulte Homes of Nevada (Sun City) took out 11 of those permits. Not far behind was Nevada Residential Construction (Boulder Heights-The Reserve-Hilltop Town homes), which received 10 permits for new homes.  Further proof that the Real Estate Industry is in good shape!

 

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July 18th, 2019 By Goody
June Building Permits Bounce Back in a BIG way

The new housing segment in Mesquite bounced back in June with 44 permits issued for new homes.  Last year 34 permits were issued.  Sun City Mesquite took out a whopping 35 permits. The 87 year to date permits that Sun City has been issued is on track with the 86 permits issued last year at this time.  The Resale market has been strong also.  Call Goody for more detailed info.

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