Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Cache

Las Vegas NV Area September 2009 Rental Home Market Report

 

Las Vegas Area Rental Homes

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here.  This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting.  More homes available for rent (higher supply) and less renters (lower demand.) 

Units Leased:

  • September 2009:  1849
  • August 2009:  2011
  • July 2009:  2029
  • June 2009:  1853
  • May 2009:  1760
  • April 2009:  1677
  • March 2009:  1825
  • February 2009:  1702
  • January 2009:  1651
  • December 2008:  1390
  • November 2008:  1405
  • October 2008:  1707
  • September 2008:  1531

 Average Monthly Rental Rates:

  • September 2009:  $1477
  • August 2009:  $1255
  • July 2009:  $1405
  • June 2009:  $1299
  • May 2009:  $1348
  • April 2009:  $1348
  • March 2009:  $1365
  • February 2009:  $1419
  • January 2009:  $2083
  • December 2008:  $1594
  • November 2008:  $1506
  • October 2008:  $1393
  • September 2008:  $1610

Median Monthly Rental Rates:

  • September 2009:  $1150
  • August 2009:  $1150
  • July 2009:  $1195
  • June 2009:  $1195
  • May 2009:  $1200
  • April 2009:  $1200
  • March 2009:  $1200
  • February 2009:  $1200
  • January 2009:  $1200
  • December 2008:  No Data
  • November 2008:  $1250
  • October 2008:  $1245
  • September 2008:  $1250

Absorption Rate has moved upwards a little from last month and remains a Landlord's Market at 2.8 months of inventory in the Rental Sector for the Las Vegas Valley. 

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11 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • November 02 2009 10:12AM

More thoughts about an idea for an income tax deduction for downpayments on houses. It’s really NOT as crazy as you might think!

Pretty well thought idea that legislators should mull over!  Comments disabled, please see Richard's post to comment!

Via Richard Weisser Coweta Fayette Real Estate ERA United Realty:

Tax deduction for down payments on homesDue to the tremendous response by a lot of very smart commenters on my earlier post: A completely new proposal to save the real estate market. It's not as crazy as you might think! I have honed the idea based on the great feedback proffered by those that made so many excellent comments.

The idea was a dollar for dollar federal income tax deduction for down payments on the purchase of a home for any homebuyer that elects to take the deduction.

First and foremost, the deduction would be a one-time opportunity, and could be used on a first or second personal residence. Investment property is not included. (BTW investors already recover their purchase price over time as depreciation)

Secondly, the deduction would go against the cost basis of the property. In other words, like depreciation, the deduction would be subtracted from the cost basis. At the time of sale, the tax consequences would be the same as any other homeowner who has tax exemption opportunities for a sale.

Third, any new subsequent loans bowered against the property in excess of the cost basis would be treated as ordinary income. This would prevent someone from paying a lot down and then refinancing.

Don’t forget that the suggestion is to provide a deduction and not a credit. Many high-income taxpayers would be fall under the Alternative Minimum Tax section and would still have tax liabilities.

This idea isn’t just about selling more homes. It’s about buyers having more skin in the game which would add stability to the market. Don’t think of it as a subsidy; it’s more if a tax deferment much like a 1031 exchange.

But It could jump start the market during these tough days!

All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate of ERA United Realty Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
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copyright 2006-2011 Renee Burrows, REALTOR®, The Force Realty  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


 

What is my Las Vegas Home Worth?          Las Vegas Homes for Sale     Las Vegas Rental House


     

Las Vegas Real Estate & Homes for Sale on Facebook     Las Vegas Real Estate & Homes for Sale on Twitter     Las Vegas Real Estate & Homes for Sale on Wordpress

 

 

 

 

0 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • October 25 2009 09:07PM

SW Las Vegas NV Home For Sale, Not Distressed, Just Priced Right!!

Tenant In Place! SW Las Vegas Home GREAT For Investors!
Main Photo
Location: Cache 1
Not a Short Sale or Foreclosure Either!! For More Info or Current Pricing Go To: www.ReneeBurrows.com/9736
Features
Bedrooms: 4
Bathrooms: 3
Year Built: 2007
Subdivision: Cache 1
Lot Size: 4356
Garage Size: 2
School District: CCSD
Square Footage: 2775
Agent Name: Renee Burrows
Broker: Nevada Realty Solutions
MLS #: 794655
Information
Contact Information
My Pic
Renee Burrows
702-966-2494
Pricing
Asking Price: $300,000
Property Location
9736 Villa Cache Ct
Las Vegas, NV 89148
View Map
Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Sink Disposal
Interior Amenities
Fireplace
Kitchen Island
Exterior Amenities
Patio
Fenced Yard

copyright 2006-2011 Renee Burrows, REALTOR®, The Force Realty  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


 

What is my Las Vegas Home Worth?          Las Vegas Homes for Sale     Las Vegas Rental House


     

Las Vegas Real Estate & Homes for Sale on Facebook     Las Vegas Real Estate & Homes for Sale on Twitter     Las Vegas Real Estate & Homes for Sale on Wordpress

 

 

 

 

2 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • July 28 2008 07:45PM