Nevada Housing Market Appreciates


Nevada Housing Market Appreciates 8%

As if the good news weren’t enough last year that the Nevada Housing Market appreciates nearly 10% appreciation in property values, the GLVAR reported this past month that homes are still appreciating at a modest 8% over the last quarter.

So what does Nevada Housing Market Appreciates Mean To Home Buyers?

It means:

  • If you’re a seller, hold on a bit you’re about to get a boost in the amount you can get for your house.
  • If you’re an investor, you have the ability to hold out a bit more for more value, or you can get ready to sell as you had predicted with appreciation. (assuming you ran your numbers correctly)
  • If you are a homeowner that is keeping your home, you may have cash out ability soon
  • If you are a buyer appraisals should come in with better values so you can get financing for a new home
  • If you are a renter, you have a chance to get a new home while it’s still at a decent price.

Is Another Bubble In The Pipeline In Nevada?

The chance for another bubble to hit, like the one that struck from 2006-2008, is still quite real. However, in between there’s money to be made. While everyone is sitting on their equity you have the ability to still negotiate a good deal for both sides. It’s slowly becoming a seller’s market. Don’t miss out on the opportunity that is still available.

Nevada Housing Market Crash Of 2008

When the market tanked back in ’08, there were a lot of individuals and families that lost their butts. I mean really bad. From driving a Mercedes to a used ford Taurus. ( 04-05 sometimes earlier) From a five bedroom mansion to a two bedroom apartment built in 95….on the east side. A lot of people really took a hard hit when the market tanked. Many left or just went back to work; some stuck it out and have since been working within the realm of possibilities.

Where Is The Nevada Housing Market Headed?

As the banks and the hedge funds began to release inventory due to needs for interest & returns, buyers began to realize that houses were low enough and so were rates that if they fixed their credit, there could be some potential opportunities. There also started a rush for developers and big box home builders to start building again. Somehow they got funding to start building small developments in the pockets that had not yet been touched. It’s what makes Las Vegas a unique market. When it comes to crime, there are pockets but nothing concentrated. There area still areas where your investment or home purchase would probably be better NOT to buy, but there are a lot of areas where it’s perfectly safe.

Right Now Is Time To Buy In Nevada

When looking at the market make sure you go through the community reports and understand what you’re about to purchase and the surrounding areas. There’s a lot of great properties to purchase either for owner occupied or investment. The deals are still real, you decide when it’s a deal anyway. If the development you’re looking to buy a house in isn’t quite what you want, look some more until you find it. It’s out there waiting to be found.

Home Loans With No Overlays In Nevada

Michael Kaleikini runs the Las Vegas, Nevada operations of The Money Store.  Michael Kaleikini and his associates are experts in FHA Loans, VA Loans, USDA Loans, Conventional Loans, and Jumbo Mortgages.  What differentiates Michael Kaleikini and other residential mortgage lenders is that Michael Kaleikini is a mortgage lender with no lender overlays.  If you get an approve/eligible per DU FINDINGS, that is you loan approval.  What are mortgage lender overlays?  Mortgage lender overlays are guidelines that are in addition to the minimum federal lending guidelines.  For example, FHA requires a minimum credit score of 580 FICO to qualify for a home buyer with a 3.5% down payment.  However, most mortgage lenders, especially banks, will have mortgage lender overlays on credit scores where they will not accept anyone with at least a 640 FICO credit scores even though the federal minimum lending guidelines set by FHA is 580 FICO.  Same with debt to income ratios.  Maximum debt to income ratios permitted by FHA is 56.9% DTI.  However, most mortgage lenders will have debt to income ratio mortgage lender overlays where they will cap the DTI at 45%. When you’re ready to buy and need financing. Give Michael H. Kaleikini and his associates a call 702-761-6958. We’ll be happy to discuss your goals of owning a home.

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