Tim Kuptz
Displaying blog entries 31-40 of 41
Great 4 plus minute video on Consumer demographics, technology, and the RE/MAX system and the agent within it. In Las Vegas, the RE/MAX Agent closely resembles the national average.
Time is running out. If you are looking to take advantage of the $8000 federal tax credit it is coming to a close soon under current rules. Contact me to determine whether you qualify and how to benefit from the low Las Vegas real estate prices.
Las Vegas area condos continue to increase in median price in July. This marks the third consecutive month where the median has increased compared to the previous month. The reduction of foreclosure units due to moratoriums has created a scarcity in the market. Some complexes are selling units the same day they are listed - with no sitting units. Look here:
| Month 2009 | Avg Price | Median Price |
| May | 84072 | 65000 |
| June | 85931 | 66000 |
| July | 87256 | 67000 |
Additional activity in the Las Vegas high rise market helps in the increase in median. Prices are now dropping below $375/sf for MGM units - they are moving well. Now, if only the detached market would ratchet it up.
Considering buying Las Vegas or Henderson real estate? Click here to be notified of the newest listings as they hit the market. It's free and there is no obligation!
Nevada set an unemployment record in June of 12%. This is the highest recorded level since such numbers have been tracked. In the Las Vegas metro area, the number hit 12.3% in June. Nearly 1 in 8 documented people are out of work according to these figures. Download the Report:
Tim Kuptz - Las Vegas and Henderson real estate.
The Kuptz | Eggers Team is looking for a new licensed selling team member. New technology, additional yard signs, expanded networking, and proven “old school” techniques have burdened us with sales opportunities beyond our capacity.
We got:
REO Listings / lead technology / 40+ years experience / #1 brand in Las Vegas Real Estate / financial stability
You got:
Insatiable desire to proactively meet new people / relentless pursuit of opportunity / good email-web skills / a good ride / pleasant demeanor / a commitment to learning / unbridled curiosity / positive energy to contribute / self starting skills / some real estate experience
Duties include:
Answer lead calls / respond to web inquiries / work leadership referrals / sit open houses / REO piece work (paid via 1099) / submitting to accountability
Income opportunity is $75,000 plus for a slightly above average real estate professional. If you are really good – the sky is the limit. You must have your license now – We cannot wait to hire a new team member. Hire date is targeted for last week of July.
Interested individuals should email tim@timkuptz.com with contact information and some basic qualifying attributes to stimulate me to respond.
**RE/MAX Advantage is Nevada’s oldest RE/MAX operation established in 1989. Tim Kuptz has been licensed since 1993 and Jim Eggers since 1891. We have averaged more than 100 closings per year since 1993.
June 2009 real estate home sales set an all-time record in June. 4675 single family, townhomes and condos closed surpassing the previous record of roughly 4400 in June 2004. The breakdown is: 3763 single family, 278 townhomes, 634 condos. Las Vegas real estate values are down roughly 60% since our peak in 2006. With low rates, low prices - some as low as they were in the 1980's, and tax credits - market activity is brisk and inventory is declining. Follow me on Twitter to get frequent market stats and news
Déjà vu on the headline? You bet. This week, it was announced Las Vegas home affordability is nearing an all-time high. The number of Pending Sales in the Las Vegas market at a almost 3 year high. Why the big increase in sales? Rates under 5%, home prices off 55% from their high, and plenty of selection are all factors. Closed sales are up 105% versus last year to date. The luxury segment is the low point of the market, off 59% from last year. Total inventory of homes is down 7.7% in past 9 weeks.
Pending Sales blast through 8000! In Las Vegas, this past week, homes under contract surpassed the 8000 mark – a point not seen since late 2006. Higher pending sales today mean higher closings tomorrow. Today’s market is a gift. Home prices not seen since the 1990’s, and interest rates under 5% are creating an incredible home buying climate. Supply (inventory/# sold) is just under 7.5 months. YTD closed units are 105% ahead of last year. Interesting point – more than 60% of all condo sales are cash. Lack of lending money for condo units is leading to significant price declines required by cash buyers.
For Sale: Homes 60% Off! Some even more. Las Vegas prices continue to drop as the median price of a 1500sf home is nearly 60% off its peak of $295,000 to $123,950. That’s a monthly payment less than $950.00! Great news for those locked out of the market for the past few years. 2500sf homes dropped more than 7% in the last 30 days after increasing 2% the month before. February marks the eleventh consecutive month of price declines - but the end is in sight.
I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!
Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!
While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.
Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.
Displaying blog entries 31-40 of 41
