Nevada Real Estate >> Las Vegas Real Estate Specialist: August 2008

30 States had Positive Changes in House Prices over the last year!

A Good Read!  Please visit Bill's original post to comment!

More good news for the real estate industry!!

According to the Office of Federal Housing Oversight's Housing Price Index for the 2nd Quarter of 2008 released August 26th, 30 of the 50 States had positive changes in house prices from June 2007 through June 2008, including our very own Washington State!

Only 4 States (Arizona, Florida, Nevada, and California) experienced overall price declines of more than 5 percent.

The 20 ranked cities in the United States with the worst price declines over the last 4 quarters were ALL in Florida, California, and Nevada.

I really do sympathize with the people of these four fine States.  Some of the price declines they have experienced are simply horrible!  However, there are 50 States and only 4 with truly bad news for the last year.  The rest of the country is simply experiencing a market correction from a rapid increase over the last 5 years combined with some sloppy loan practices that hurt the lending industry.  The United States overall had a -1.71% change over the last year (skewed down heavily by the 4 troubled States).  However, even with the challenges over the last year, the United States STILL has had a 34.84% increase in home prices over the last 5 years!  -  How is that supposed to be bad???

Over the last 5 years, Arizona STILL gained 62.68%, Florida STILL gained 54.03%, Nevada STILL Gained 50.81%, and California STILL gained 41.81% despite the losses of the last 4 quarters.

It is time for the news media to put away the "Chicken Little - The Sky is Falling" type stories.  The truth is that the nation's real estate market is rebounding. 

 

- I've posted the top 30 States in the comments section, CLICK HERE to see them.

 

Bill Maggie & Jester Sauneuf

 


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

Blog Disclaimer Important Notice

Realtor/MLS Member, NAR, NVAR, GLVARAccredited Buyer's RepresentativeSeller Representative SpecialistSenior Real Estate SpecialistAt Home with DiversityResort & Second Home Property SpecialistShort Sale Foreclosure Resource

 

 

 

Sell Las Vegas Home          Las Vegas Homes for Sale     Las Vegas Rental House

              

 

 

 

Comment balloon 0 commentsRenée Donohue~Home Photography • August 28 2008 06:41PM
30 States had Positive Changes in House Prices over the last year!
share
A Good Read! Please visit Bill's original post to comment! More good news for the real estate industry!! According to the Office of Federal Housing Oversight's Housing Price Index for the 2nd Quarter of 2008 released August… more
Las Vegas, NV August 2008 Area Pendings Report: Pendings are NOT…
share
The Las Vegas Valley has seen some major market stabilization in the last half year. Absorption for August 2008 is a healthy 6. 8 months of inventory (compare it to 22. 5 months inventory in Nov/Dec! ) Be warned, the market as a whole is… more
SW Las Vegas NV Home For Sale: Guard Gated Golf Community Rhodes Ranch
share
Rhodes Ranch Executive Home! Location: Rhodes Ranch RR Is a guard gated golf community w/ many amenities including a water park! For More Information on Rhodes Ranch: www. ReneeBurrows. com/RhodesRanch Features Bedrooms: 4 Bathrooms: 2. 5 Year Built:… more
SW Las Vegas NV Condo For Sale: Vistana @ Rhodes Ranch, 2 BR $99, 900
share
SW Las Vegas Vistana 2 Bedroom Condo! Location: Vistana @ Rhodes Ranch For Condo Complex Info: www. Vistana411. com Features Bedrooms: 2 Bathrooms: 2 Parking: open Year Built: 2002 Subdivision: Vistana at Rhodes Ranch Located on Floor #: 2 Floors in… more
SW Las Vegas NV Home For Sale: REO, Single Family Detached w/ Garage:…
share
Patio Home in SW! Location: Liberty @ Warm Springs For Area Info: www. ReneeBurrows. com/LibertyAtWarmSprings Features Bedrooms: 3 Bathrooms: 2. 5 Year Built: 2004 Subdivision: Liberty @ Warm Springs Lot Size: 2178 Garage Size: 1 School District: CCSD… more
A Quick Blip From Burrows
share
I have to say there is a FLURRY of activity out there with buyers scrambling to secure a contract in the next week for their FHA seller assisted Down Payment Assistance (DPA or DAP. ) I have been behind with getting my market reports… more
Las Vegas NV July 2008 Rental Home Report
share
Rental units leased are still increasing year over year since 2006. August is the hottest (literally and figuratively) rental month so we shall see if the trend continues the next two months! Units Leased: July 2008: 1697.. more
Las Vegas NV July 2008 REO Inventory Update: 2. 7 Months Inventory,…
share
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen dramatically (+593 units), Pendings have risen DRAMATICALLY (+306 units. ) Closing data is up up UP at + 278 units. .. more
Spring Valley Non Distressed and Priced Right! The Landscaping is…
share
Spring Valley Single Story! Location: Spring Valley ~ Casa Linda Spring Valley Single Story for sale. Not a short sale, not an REO, just PRICED RIGHT FOR QUICK SALE! Hurry, seller assisted non profit DPA goes away on Oct 1, 2008! Well cared for… more
Las Vegas, NV Short Sale August 2008 Inventory Update: Slight Dip in…
share
The absorption rate for Las Vegas Short Sales had a slight dip in July/August 2008. Absorption still remains high and above the 2 year mark. Inventory has risen dramatically (+510 units). Pending units has also risen dramatically by +142… more
Rhodes Ranch Area Active Listings/Sold/Rental Real Estate Market…
share
This Rhodes Ranch Area resale market report was generated on August 16, 2008 (graph on bottom): Active Listings: 382 Under Contract: 199 Sold 7/8-8/8/2008: 88 Months Inventory: 4. 3 Low: $83900; High: … more
Turnberry Place Condo (REO) For Sale! WOW!
share
Turnberry Bank Owned For Sale! Location: Turnberry Place Features Bedrooms: 2 Bathrooms: 2 Parking: 1 Year Built: 2001 Subdivision: Turnberry Place Located on Floor #: 4 School District: CCSD Square Footage: 1712 Agent Name: Renee Burrows Broker:… more
Bank Owned For Sale in Rhodes Ranch! Executive Style Home w/ 3 Car…
share
Rhodes Ranch + 3 Car Garage at $101 a square foot! Location: Rhodes Ranch Granite, Lots of HOA Amenities for the HOA price! Check out the Rhodes Ranch Guard Gated Golf community for more info and lots of pictures: http://www. ReneeBurrows. com… more
Las Vegas NV Area Real Estate Professionals Featured Posts (8/8-8/15…
share
Here are the public weekly featured posts for the Las Vegas Area Real Estate Professionals Group : Esko Kiuru: Las Vegas land prices soften up, except on resort corridor Las Vegas existing home sales continue to… more
Welcome Home to SW Las Vegas Communities: Huntington Village at…
share
Welcome Home to: Huntington Village Huntington at Rhodes Ranch is snuggled in the southwest Las Vegas valley foothills. They feature great peek-a-boo views of the mountains to the west and to the north! There are currently (12/20/2007) 1437… more
SW Las Vegas NV Home For Sale: Huntington Village Executive Style!
share
Huntington Village Executive Style Home For Sale! Location: Huntington Village at Rhodes Ranch More pictures: www. ReneeBurrows. com/745 Community Info: www. HuntingtonHomes411. com Features Bedrooms: 4 Bathrooms: 3 Year Built: 2006 Subdivision:… more
Las Vegas Listings: Updated List w/ New Prices!
share
Bank Owned in Mountain's Edge! Location: Mesa at Mountain's Edge Open Floorplan with lots of natural light from abundant windows! Large Loft! To view the virtual tour or floorplan go to: www. ReneeBurrows. com/7149 Features Bedrooms: 3 Bathrooms: 3… more
SW Las Vegas NV Condo For Sale: Vistana @ Rhodes Ranch!
share
Links Community Info Description Bank Owned One Bedroom Condo. Located in Vistana, a guard gated community snuggled in the southwest Las Vegas foothills. Amenities include 3 pools, tennis, exercise facilities and more! Get Community info at: www… more
Mesquite Real Estate Market - The Eye of the Hurricane
share
Originally posted by Virginia Hepp, Realtor, Mesquite NV Is the Mesquite real estate market finally in the eye of the hurricane? When a hurricane warning becomes known, decisions need to be made to protect your family your property and your… more
Momma Has the Las Vegas Bank Owned Auction Pricing Blues!
share
Yep, I admit it, it's not fun out there selling real estate in July/August heat. Our market has gone from frenzied to down right I-don't-even-know-if-there-is-a-word-in-the-English-dictionary-to-describe-what the heck is going on here. .. more