Nevada Real Estate >> Las Vegas Real Estate Specialist: July 2007

Economic Conditions May 2007

Housing Conditions:

• Foreclosure/Short Sale Listings (7/26/2007): Total Listings (7/26/3007) 26,526; Foreclosures Commenced: 1224, 4.6% of all listings; Short Sales: 1903, 7.1% of all listings; Both Foreclosures Commenced AND Short Sales: 385, 1.5% of all listings.
• New Home Sales (June 2007, units sold): 1406 Year Change -56.5% (excl condo conversions, highrises)
• New Home Sales (June 2007, median price): $314,317 Year Change -6.9% (excl condo conversions, highrises)
• Existing Home Sales (June 2007, units sold): 2422 Year Change -43.3%
• Existing Home Sales (June 2007, median price): $278,000 Year Change: -4.1%
• Single Family Residential Permits (June 2007): 1261 Year Change -41.2%
• Rental Rate (MLS Monthly Average May 2007): $2204/month Year Change +$934/month

My analysis: The rental market has been consistenly rising since November 2006.

New Residents/Employment Conditions:

• New Residents (June 2007): 6,517, Year Change -4.4%
• Total Employment (June 2007): 942,000, Year Change +2.1%
• Unemployment Rate (June 2007) 4.7%, Year Change +9.3%

My analysis: We need more jobs to continue strong growth. Our employment rate is up from a year ago but still fairly low.

Tourism/Gaming Conditions:

• McCarran Airport Total Passengers (May 2007): 4,170,268 Year Change +6.8%
• Gaming Revenue (May 2007): $968,441,810, Year Change +.6%
• Visitor Volume (May 2007): 3,770,156, Year Change +0.6%
• Convention Attendance (May 2007): 506,165, Year Change +19.1%
• Hotel/Motel Occupancy (May 2007): 92.1% Year Change -2.2%

My analysis: The gaming/tourism industry is still strong. Convention attendance way up! Visitor volume & gaming revenue are in sync.

Sources: Salestraq, Home Builder's Research, Greater Las Vegas Association of Realtors, Nevada State Gaming Control Board, Nevada Department of Motor Vehicles, McCarran International Airport, Las Vegas Convention & Visitor's Authority, Nevada Department of Employment, Training and Rehabilitation

July 2007 Las Vegas Valley Macro Markets Broken Down. All charts are listed on my website for your viewing.

Active Listings (green), Pending Contracts (yellow) and Sold (red) information was pulled from the Las Vegas Area MLS (GLVAR). Listings and Pendings as of 7/22/2007. Sold Information is from 6/10-7/10-2007. GLVAR deems information reliable but not guaranteed. Charts Prepared by Renee Burrows/Nevada Realty Solutions.

Chart 1: All Listings/Pendings & Solds

• Listings = 26330
  
• Pendings = 2825
  
• Sold = 1791
  
• Months Inventory = 14.7
  

Chart 2: All Single Family Residence Listings/Pendings & Solds

• Listings = 20525
  
• Pendings: 2289
  
• Sold = 1455
  
• Months Inventory = 14.1

Chart 3: All Townhome Listings/Pendings & Solds

• Listings = 1617
  
• Pendings = 189
  
• Sold = 131
  
• Months Inventory = 12.3

Chart 4: All Condominium Listings/Pendings & Solds

• Listings = 4044
  
• Pendings = 317
  
• Closed = 194
  
• Months Inventory = 20.8

Chart 5: Highrise/Midrise Condominium Listings/Pendings & Solds

• Listings = 1106
  
• Pendings = 109
  
• Closed = 26
  
• Months Inventory = 42.5

Chart 6: Condominiums Excluding Midrise & Highrise Listings/Pendings & Solds

• Listings = 2938
  
• Pendings = 208
  
• Closed = 168
  
• Months Inventory = 17.4

Chart 7: Single Family Homes Under $200K Listings/Pendings & Solds

• Listings = 443
  
• Pendings = 113
  
• Sold = 60
  
• Months Inventory = 7.3

Chart 8: Single Family Homes Between $200-250K Listings/Pendings & Solds

• Listings = 2863
  
• Pendings = 462
  
• Sold = 299
  
• Months Inventory: 9.5

Chart 9: Single Family Homes Between $250-325K Listings/Pendings & Solds

• Listings = 6352
  
• Pendings = 743
  
• Sold = 453
  
• Months Inventory = 14

Chart 10: Single Family Homes Between $325-400K Listings Pendings & Solds

• Listings = 4115
  
• Pendings = 433
  
• Sold = 269
  
• Months Inventory = 15.2

Chart 11: Single Family Homes Between $400-650K Listings/Pendings & Solds

• Listings = 4475
  
• Pendings = 390
  
• Sold = 278
  
• Months Inventory 16

Chart 12: Single Family Homes Between $650K-1 Million Listings/Pendings & Solds

• Listings = 1708
  
• Pendings = 113
  
• Sold = 93
  
• Months Inventory = 18.3

Chart 13: Single Family Homes $1 Million and Above Listings/Pendings &
Solds

• Listings = 1056
  
• Pendings = 85
  
• Sold = 36
  
• Months Inventory = 29.3

Chart 14: Condo/TH (Excluding Mid & High Rise) Under $200K Listings/Pendings & Solds

• Listings = 2378
  
• Pendings = 237
  
• Sold = 177
  
• Months Inventory = 13.4

Chart 15: Condo/TH (Excluding Mid & High Rise) $200-225K Listings/Pendings & Solds

• Listings = 769
  
• Pendings = 67
  
• Sold = 57
  
• Months Inventory = 13.5

Chart 16: Condo/TH (Excluding Mid & High Rise) $225-250K Listings/Pendings &
Solds

• Listings = 570
  
• Pendings = 41
  
• Sold = 37
  
• Months Inventory = 15.4

Chart 17: Condo/TH (Excluding Mid & High Rise) 250-300K Listings/Pendings &
Solds

• Listings = 518
  
• Pendings = 40
  
• Sold = 25
  
• Months Inventory = 20.7

Chart 18: Condo/TH (Excluding Mid & High Rise) 300-400K Listings/Pendings &
Solds

• Listings = 290
  
• Pendings = 12
  
• Sold = 11
  
• Months Inventory = 26.3

Chart 19: Condo/TH (Excluding Mid & High Rise) $400K & Above Listings/Pendings & Solds

• Listings = 146
  
• Pendings = 5
  
• Sold = 0

Ann Cummings and Steve Scheer both stopped by my blog post about image theft and asked questions about image watermarking.

I decided to watermark my photos when some of my neighborhood localism posts pictures started turning up in the MLS. Just FYI, last I heard no watermarking Localism pics :)

The program I use is Batch Watermark Creator. On the website it is listed at $29.95 but I think I bought the professional version for $59.95.

I tried a bunch of freebies out prior to purchasing this one and you can try this out free by downloading it. They put a line through the picture until you purchase. You can modify your watermark to run through the entire picture, just be in a corner, be as light or as dark, as big or as small as you want etc etc etc. The beautiful thing is that you can do this in batches!

If you google "watermark," there are a bunch of programs to try for free. Be careful of viruses. I did find that this one was the easiest to use out of all of them that I tried.

If you have watermark programs you already use, share them here!

Silverado Townhome ~ True Dual Masters w/ Garage!

Open floorplan, garage, two stories and true dual masters! Clean and ready for you! Community amenities: Gated, Mature Landscaping, Swimming Pool, BBQ, Common Areas, Exercize Facilities. Close to everything! For more pictures, the floorplan & the virtual tour please go to: www.9631idlespurs.info

Information

Contact Information

Contact Reply Form

Forward to a Friend

View Other Flyers

Pricing

Asking Price: $227,000.00

Features

Bedrooms: 2

Bathrooms: 3

Parking: 1

Year Built: 1999

Garage Size: 1

Square Footage: 1250

Agent Name: Renee Burrows

Broker: Nevada Realty Solutions

MLS #: 728426

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Interior Amenities

Fireplace

Exterior Amenities

Patio

Fenced Yard

Powered by vFlyer.com

Equal Housing Opportunity

VFLYER ID: 1152100

All the Best,

We just spent the last week and a half moving Mike's mom back to the midwest. We drove and the track out was long and grueling.

Our trip there involved a drive up I-15 through Salt Lake City to I-80 through Wyoming. We planned a stay in Cheyenne and there was no room at the Inn for us (failed to make reservations in case we didn't make it that far!) due to a baseball tournament. After searching for almost an hour and a half we found one room with one king sized bed and that room went to Mike's brother, Mother and our kids. We (the monster drivers) slept in our Explorer and I found out that I was not as young as I used to be!

We trekked on and finally made it, unloaded the truck and began our family visits. We stayed with Mike's dad first in Carter Lake, Iowa and made a trip to the Old Market in Downtown Omaha, Nebraska. I cannot believe how downtown is expanding, building and looking so great! Everything was beautiful and green.

We spent the Fourth of July holiday at my brother's house in Cheyenne Estates across from Tiburon in Gretna, Nebraska. It was so great to be with family and relish the four days we had to spend there!

The weather was very humid and seemed like in the nineties, temperature wise. Everyone told us Las Vegas was roasting but I couldn't wait to get back. I would rather take the heat over the humidity. I know, I am an odd duck!

We left early Friday morning and drove to Grand Junction, Colorado. I thought of some of my favorite bloggers: Mariana Wagner (Colo Springs) when we were driving through Denver and Doug Lindstrom when we were driving through Loveland. I couldn't believe the copious amounts of snow that still hung around from Loveland to Vail Pass and we even encountered snow for about 1 minute when we were on the Vail side of Vail Pass!

It was a beautiful drive and when we hit St George and took a break it was a beautiful balmy 107 degrees with the blast heat furnace wind blowing. I could smell home!

My kids stayed back and will be visiting grandparents, aunts and uncles for another three weeks while Mike and I enjoy cleaning and organizing the home for the next couple of days and having it stay that way for several weeks.

I worked on the trip a bit, it is so great to have a PDA now. It seems like I can go anywhere and conduct business without worrying about logging on to a computer! So tomorrow I start back to working the long days but it is SOOO good to be home! Sigh!

I promised Tony Marriott I would take lots of pictures and I sure had plenty of opportunities but my camera got packed up in the moving van and I was just plain too beat by the time we were coming home!

Miss Desiree wrote me a nice personal note this AM asking where I have been! There is the synopsis!