The current state of the economy reflects a total lack of affordability, particularly within the real estate market, notably in sought-after cities like Las Vegas. Las Vegas homes for sale have become symbols of an overinflated market, where prices have skyrocketed beyond the reach of many. The exponential growth in home prices has transformed the dream of homeownership into a distant fantasy for countless individuals. This affordability disaster is most evident in Las Vegas, where aspiring homeowners face daunting challenges in entering the housing market. The reality of Las Vegas homes for sale presents a grim picture, with prices continuing to surge amidst stagnant incomes. If you’re looking to buy a home, whether in Las Vegas or elsewhere, it is essential that you do not overbid on the price as many homes are significantly overpriced. It is wise to be patient if possible and wait for home prices to recede, even if it takes most of 2024 for that to happen. As a local Las Vegas realtor, I help people make the move into Las Vegas all the time. Reach out to me anytime if you're considering moving to this beautiful city. It would be my pleasure to help you find your perfect Las Vegas dream home. Jerry Abbott - REALTOR Summit Properties Call/Text: 702-550-9658 Email: jerry@jerryabbottrealty.com Website: jerryabbottrealty.com

@tomhall7250

Ай бұрын

Ok thanks, Vegas is my retirement destination! Not much but probably 1 mil. Total worth…ya hate people , maybe just stay here….ya don’t let the old man in .

@stevendgrissom1968

Ай бұрын

And they are bringing their politics too. That scares me even more.

@lasvegasliving9237

Ай бұрын

@@tomhall7250 Lol

@lasvegasliving9237

Ай бұрын

@@stevendgrissom1968 Everything is political nowadays.🤷‍♂

@Battleneter

Ай бұрын

You need to remember couples DO make this kind of money, its only an income of 60K each for a married couple, you need to stop talking like everyone buying a house is single :P. That said this is still tight for a married couple on median salaries.

I just want to cry😢... They just approved sending more money to another country... While our country is suffering 🇺🇲😢..

@lasvegasliving9237

Ай бұрын

Very frustrating times!

@jimkelley8658

Ай бұрын

If Russia expands into Ukraine, what's to stop them from expanding into Europe? At that point all Nato countries are bound by treaty to fight for that country.

@victortoombs4754

Ай бұрын

Show your frustration by voting in November!

@lasvegasliving9237

Ай бұрын

@@victortoombs4754 It will be interesting.

@jgringo5516

Ай бұрын

@@jimkelley8658rub that crystal Ball. I don’t give a chit about Russia or that corrupt azz Ukraine. NATO sucks just as hard. UN can tickle all their butts too. My concern is here and my people. Go suit up and fight over there. Quit dragging.

I am 74 yoa and an Arizona resident for the past 19 years. I have traveled to Las Vegas for over 30 years. My last trip ended yesterday. I was shocked at the prices. Gasoline is well over $4.a gallon, price gouging at every turn. You are spot on with your commentary! Thanks for being a voice of reason in the darkness. I really feel, especially sorry for those young people who have lived frugally, saved, worked hard, and have been left behind in the dust of big spending politicians who only worry about the next election and forget that the bill has to be paid sometime, Thank you Jerry.

@lasvegasliving9237

Ай бұрын

Thanks for sharing your thoughts Thomas. I appreciate you watching, commenting and the support!🙏👍

@vegasprogambler5336

Ай бұрын

but the rooms are all FULL and they are getting RECORD rates ($289/ night) per room. NOBOY. CARES. I cant understand where all the money is coming from. when Walmart is paying $17 TO START with $2500 sign on bonus...I can only think the rising tide HAS lifted ALL ships. for all the talk of the disappearing middle class, im not so sure. ifs DAMN hard to be poor in America now. ironically, I truly believe you have to WORK at it to be poor.

@plektosgaming

Ай бұрын

@@vegasprogambler5336 The rooms are actually half full. There is an entire tower at Circus Circus that is effectively closed as it's cheaper to not maintain the entire thing AND they can charge more for less rooms at the same time. Not that Circus Circus is a place I'd want to stay, but one of the dirty secrets is that the casinos routinely close off sections or floors for "cleaning" or "renovation" to keep the rates as high as they can. EDIT - the best places to go, though, are off-strip like The Tuscany. Rooms are about half that much per night if you book about a month ahead.

@mslasvegas258

Ай бұрын

$17 is not a high wage when you look at the price of everything else including rent. $2,500 isn’t even two months rent for most people in the Valley. $17 is a living wage.

@lasvegasliving9237

Ай бұрын

@@vegasprogambler5336 $17/hour gets you nothing and nowhere in today's overinflated economy.

Jerry, speaking the truth, isn’t about being popular, It’s about having principals . Keep doing what you’re doing, you’re doing the right thing. Thank you!

@lasvegasliving9237

Ай бұрын

Thanks so much Joe!🙏👍

I sold 2 homes in California and you know what, im sitting it out renting until the market drops, we don't have to take part in the housing market shenanigans everyone can see the prices are over inflated and out of wack. I'm renting until everything drops. That's the smart thing to do. Stay strong, save save save and everything will work out.

@lasvegasliving9237

Ай бұрын

Good for you!👏

Jerry, you have to get out in the open that GREED is now rampant in society. It's condoned, encouraged and basically the driving factor of this modern day debt-based economy. Nothing makes sense anymore because of corruption, GREED and deliberate policies that cause inequality, inflation and ever increasing levels of debt. This debt-based monetary system is unsustainable and we're witnessing the true horrors of this failing system right now. I have no doubt that the rest of the decade will bring more inflation, more inequality, more social unrest, more corruption/gaslighting/manipulation, more fake headlines and more wars. Until something breaks, until people are just so hopeless and lacking any kind of hope and optimism that they resort to conflict. To be clear, I don't want that....but I sure can understand it. Even the rioting we've seen in the last couple of years, I hated seeing these criminal acts. The very idea of looting I find repulsive. And yet this is what corporations, governments,central bankers and the financial industry are doing. Inflation is theft, excessive taxation is theft. Favouring corporations with tax-exemptions is theft from society, from the majority. All these distractions, these left/right or progressive/conservative narratives are all manufactured meant to divide and conquer. As long as the status quo can remain in power, living their lives in luxury while lecturing the plebs....that is the main goal. I hope that one day a generation of adults in the room will be elected into positions of power. Until that happens, it's societal breakdown, declining social cohesion and just a continuation of this gigantic corrupt cesspit.

@rcp2bTube

Ай бұрын

Greed is not generally not bad: if I work really hard to make lots of money through an innovative business that I build, that has HUGE benefits to society. Political corruption spending other people's money, that's not greed. Large corporations lobbying to kill off smaller competitors, that's not greed. Society needs wealthy tax payers (in NY the richest 1% pay some 50% of all the income taxes), many of whom likely would be called greedy. I'm all for rooting out corruption and criminality, but I also want to support ambitious entrepreneurs. And I'm often not clear on where ambition to succeed ends and greed starts. Thanks

@tims708

Ай бұрын

We are a spoiled and complacent nation. We have simply not been good stewards of the gift that has been given to us.

@robjohnson7878

Ай бұрын

Inflation and taxation are nothing more than theft. How corporations are allowed stock buybacks to reward non performing CEO’s and congress insider trading is absolutely about greed and corruption at the expense of honest retail investors but no one cares.

@lasvegasliving9237

Ай бұрын

Thank you for sharing your thoughts.👍

@harryireland1935

Ай бұрын

@@rcp2bTube Sorry but I can't agree with calling greed a benefit to society. It's clearly not benefitting the majority and just by looking at the hysteria surrounding the stockmarket, crypto and the central bank rate decision spectacle, something went wrong after decoupling currencies from gold, de-regulating the financial sector and deliberate monetary policies causing assetbubbles or pretty much bubbles in everything. And now inflation, which is basically theft, is running out of control and has been for years. Savers and pensioners are being destroyed at the benefit of central bankers and the financial industry AND of course, governments that clearly benefit from inflation. Large corporations killing off small local stores isn't greed? That's beneficial to society? Terribly sorry, but your mindset is indicative of what's wrong in our society at the moment.

The $1200 home insurance is absurdly LOW. Should use $3600 that adds another $200/mo to your calculations

@TheeLynnChase

Ай бұрын

Not low for Vegas. It's actually higher than I've paid for larger homes, with pools.

@lasvegasliving9237

Ай бұрын

That was the automated calculator but yes it would and should be even higher.

@TheeLynnChase

Ай бұрын

​@@lasvegasliving9237 not should!! lol 😊

@lasvegasliving9237

Ай бұрын

@@TheeLynnChase Yes, lower in Las Vegas compared to other cities.

@kathygann7632

Ай бұрын

In California, I need home insurance, earthquake insurance, flood insurance and wildfire insurance- IF YOU CAN GET IT! Insurance companies are cancelling policies.

New condos and townhomes are outrageously overpriced in LV. Not to mention HOA.

@lasvegasliving9237

Ай бұрын

So true!!

@joelreyna7922

Ай бұрын

I believe all of Las Vegas will be HOA

@gregweigel8115

Ай бұрын

Not only that, but rental apartments are now charging resort fees!! You've Got to be kidding me....

@lasvegasliving9237

Ай бұрын

@@joelreyna7922 Not all.

@lasvegasliving9237

Ай бұрын

@@gregweigel8115 Absurd!

Bought my condo in henderson for 120k in 2016 sold it in 2024 for 285k 3 bd 2bath . Lived in henderson for 29 yrs and the crime is so out of control , even in a gated community the crime still came in to our community. As a owner alot of condos where bought and rented out , and OMG some of the people that moved in and had no respect for anyone made it really scary . The smell of Marijuana was crazy . Cars where stolen thanks to the kia boys . Gargage was broken into . Really sad 😢

@lasvegasliving9237

Ай бұрын

Very sad to hear that considering Henderson (was) one of the top 10 safest cities in the US for years. Very different and unfortunate times in Las Vegas post pandemic.

@marygibson900

Ай бұрын

OmG that makes me think twice. I have been looking to move to Henderson.

@lasvegasliving9237

Ай бұрын

@@marygibson900 It is very unfortunate but still a sought after area.

@RasiRobi

Ай бұрын

Is Henderson getting that bad ? Sorry to hear that 😮 you are living in old Henderson area?

@plektosgaming

Ай бұрын

@@RasiRobi Having grown up many years ago in Los Angeles (yeah, I'm getting old - lol), Las Vegas is literally laid out the same as the San Fernando Valley. (for the exact same reason) That is, the "good" areas are outside of the freeway ring to the south and all the way to the southwest and west up against the hills. "Henderson", if you are north of the freeway, is no longer a safe place as the freeway put an artificial divide and basically created "North Henderson" (North Hollywood in L.A terms) - A mish-mash of old and new, and all of it slowly falling apart, aside from Green Valley, which is somehow holding on.

When I hear California people are moving here in such numbers, it scares the crap out of me.

@WatchingClowns

Ай бұрын

Thank you 🙏 for taking in our trash 😂 that can’t afford CA

@gabbyhayes1568

Ай бұрын

@@WatchingClownsThey’re running away from people like you clown. lol

@James11235

Ай бұрын

@@WatchingClownsThe trash are the ones staying in California.

@michaelellringer5600

Ай бұрын

It scares you because the Californians moving to Sinless City are the conservative type and they'll make Sinless City even more conservative than it already is.

@lasvegasliving9237

Ай бұрын

Californians are moving to Las Vegas in droves. They are the biggest factor as to why Las Vegas home prices have skyrocketed in recent years.

Amazing what inflation can do. In the 1970’s the average US house was in the $20k’s, then just 10 years later in the 1980’s the average was already in the $80k’s, a whopping 400% increase and prices never went down back to the $20k range.

@lasvegasliving9237

Ай бұрын

Yes, inflation is a pernicious tax that robs us all of the freedom we desperately seek.

@lasvegasliving9237

Ай бұрын

@@rockycodyjesse Different world back then.

I’ve been living here for 7 months now, and i’m renting an apartment, I have 4 realtors sending me homes to purchase on a daily basis, there is no such thing as a decent 3 bd. 2 ba. house out here anymore. I’m retired and on a fixed income, so I’m starting to believe we won’t find our forever home in Vegas.😢

@lasvegasliving9237

Ай бұрын

Sad to hear that as quality has truly diminished.

@glennbeadshaw727

Ай бұрын

Never mind Debbie just look up mean Mary she plays the banjo you might like that

@vegasprogambler5336

Ай бұрын

Vegas I no place to retire...you go there to visit or work.

@SmithsnMoz

Ай бұрын

Go live in Utah... Why would anyone live let alone retire in HOTT Las Vegas?

@lasvegasliving9237

Ай бұрын

@@SmithsnMoz MANY people want to live in Las Vegas. Always one of the most popular and most moved to cities in the country every month.

If you were comparing Florida in the monthly mortgage payment calculation, you would have to change the 100 for insurance to about 500+.

@lasvegasliving9237

Ай бұрын

Yeah, it's definitely higher in other areas which is scary.

That 3300 a month is really $3500 a month as that calculator isn't adding in "mortgage insurance" of another $200 or so since you made less than the 20% recommended down payment. Then they want you to make 3x that.. so.. 10K a month? Who has that money? Nobody that I know aside from a few professors with tenure at the university. Note that the 2021 rate was equal to about 50-60K a year, which is the actual average salary. 120K a year is fantasy wages.

@lasvegasliving9237

Ай бұрын

All of these numbers are just ludicrous at this point. Owning a home is fast become a distant pipe dream for millions of people.

Having tried to make money flipping homes in Phoenix back in 2005 this all sounds very familiar. If it is similar then foreclosures about to explode. And honestly, that last home for close to $500K?!? I'd pay half that and still feel like I paid too much.

@lasvegasliving9237

Ай бұрын

Very different market than the 2008 crash. Unlikely to see that kind of crash this time around.

Thankyou for your honesty...most realtors only paint rosy pictures

@lasvegasliving9237

Ай бұрын

My pleasure and thank you!🙏👍

The banks giving these loans are criminals...

@lasvegasliving9237

Ай бұрын

Agreed! Total scam to keep the majority of people indebted for life.

@sociolocomtsac

Ай бұрын

No personal responsibility at all? Nobody is forcing one to take out a loan.

@Symonize

Ай бұрын

@sociolocomtsac 💯 people are stupid. On the bright side, they have 10 💉 and aren't long for this world....

@MchlV-es7qf

Ай бұрын

It is people’s choice to buy. Why do you blame the banks?

@Symonize

Ай бұрын

@MchlV-es7qf wow, youtube is deleting my response. Interesting... but i look forward to watching them sell their homes for pennies on the dollar and still unable to find an eligible buyer...

Well done! Thanks for keeping it REAL

@lasvegasliving9237

Ай бұрын

My pleasure!🙏👍

You are a good, decent, honest, and humble guy the best individual qualities that money cannot buy. Keep up all the good work of helping people during this difficult time.

@lasvegasliving9237

25 күн бұрын

Thank you very much Mike! I really appreciate the kind words and support!🙏

Jerry - Excellent analysis on home prices rising in LV due to the California migration, you are right on the mark. As long as the migration continues, inventory will remain low and prices will remain high (or continue to increase) in LV. I might recommend that people interested in purchasing a home consider non-traditional means of purchasing, such as a DIVY home, where you can rent-to -own with a portion of your rent going toward an eventual down payment. Or perhaps asking for an "early inheritance" from your parents to put toward a large down payment or buying a next gen home where multiple generations can live, or buying property and building as you can afford it, or buying a major fixer-upper. Of course there are many other options, but people just need to be a bit more creative. Waiting for home prices to significantly drop in LV is only a good plan if there was a good reason to believe prices will eventually drop here and with the California migration, inventory will remain low in LV and keep prices elevated.

@lasvegasliving9237

Ай бұрын

Thanks for sharing your thoughts and the support Nick!🙏👍

Good Morning Brother JERRY I am ❤ your New every Saturday Morning with Coffee ☕️ from California 🥰Good Job Brother 👍👍👍🇺🇸🇺🇸🇺🇸🥇🥇🥇🏆🏆🏆

@lasvegasliving9237

Ай бұрын

Thanks so much for the continued support!🙏👍

Solid Citizen. Thank You ~

@lasvegasliving9237

Ай бұрын

Thanks so much!🙏👍

Great video, luckily homes here in Savannah, Georgia are roughly half of what they are in Las Vegas for the same size lot and home, and usually the properties are much, much larger, running anywhere from a 3/4 of an acre to 2 or 3 acres. Plus, the weather here in Savannah, Georgia, is equivalent to that of Southern California. Las Vegas may well be one of the fastest growing areas in America. However, the Savannah area is also one of the fastest growing metro areas in the United States. Americans love Las Vegas, and they also love Savannah. God blessed America.

@lasvegasliving9237

Ай бұрын

Savannah seems like a very nice area of the country to live in compared to some other cities. Thanks for commenting and watching!🙏👍

Inventory is spiking up. Saving 30 properties a day where before I’d be lucky to get 5 that fit my parameters.

@lasvegasliving9237

Ай бұрын

Yes! Inventory is starting to definitely increase.

@RasiRobi

Ай бұрын

Also the foreclosures and credit card delinquencies

@peterbedford2610

Ай бұрын

Inventory is 26% under last year at his time for NV. Lowest in the nation.

@lasvegasliving9237

Ай бұрын

@@peterbedford2610 Inventory continues to be quite low in Las Vegas. Demand still remains very strong.

You need to make the home insurance payment much higher, no company will insure a $460k home for $100 a month.

@lasvegasliving9237

Ай бұрын

That was the automated calculator on that page but yes it should be higher.

@milspec8283

24 күн бұрын

I just a 2700 sqft home for 435k and my home insurance is $90 with 1500 deductible.

One of my tenants who was planning on buying a home just called me to renew the lease. He said the market isn't good enough to buy right now (so he will just continue to pay my mortgage instead).

@lasvegasliving9237

Ай бұрын

Probably very common in today's market.

Thank you for sharing, very informative. Keep up.

@lasvegasliving9237

Ай бұрын

My pleasure! Thanks for the support!👍

Happy Saturday Jerry! Jerome Powell said no rate decrease (at least not any time soon) due to high inflation so this might be what we need to bring things back to equilibrium. We do not need quantitative easing right now.

@lasvegasliving9237

Ай бұрын

Agreed! So many people were predicting all of these rate cuts this year and that has not or likely will not materialize this year. Inflation is still out of control.

@NoDaysOff-oz2zl

Ай бұрын

Like Jerome Powell cares about any of us.

@msk384

Ай бұрын

​@lasvegasliving9237 Yes including your fav TV personality

@lasvegasliving9237

Ай бұрын

@@NoDaysOff-oz2zl Very few in charge do.

@lasvegasliving9237

Ай бұрын

@@msk384 Lol

Any homeowner that has a 5% mortgage rate or less will not sell. Tight inventory and high mortgage rates spells disaster for potential buyers

@lasvegasliving9237

Ай бұрын

True but inventory is now growing.

I saw other Las Vegas realitor showing a home around $1,800,000 - as if just anyone could afford that house, which is so crazy! We bought a home the end of 2021, we are rate locked. We couldn't buy the house we have today and afford the payments! 🤔

@Mike4444x

Ай бұрын

I hope you don’t lose too much equity.

@lasvegasliving9237

Ай бұрын

Good for you. Sadly, prices and rates today have made things absurdly unaffordable.

@lasvegasliving9237

Ай бұрын

@@Mike4444x Not likely.

I moved from NY back to VT in 1982 when interest rates went from 8% to 16%. Does anyone remember that....16%! My husband & I refinanced several times as interest rates dropped. 7% is nothing compared to that. I realize the rate was much lower than 7 not too long ago, but 16% was worse.

@lasvegasliving9237

Ай бұрын

Not really when you consider that most people are now at roughly 8% and home prices are astronomically higher than they were 40 years ago.

@maried7776

Ай бұрын

@@lasvegasliving9237 Yes, home prices are very high.

Always informative and educational information 👍

@lasvegasliving9237

Ай бұрын

Thanks so much!🙏👍

Average home prices in Vegas are now over 500k according to Driggs Title most recent report. Also, you forgot to add in the HOA fees in your example as most homes in Vegas are in an HOA so that $3007.00 per month could easily be 3257.00 with an HOA fee in a nice community. If you want to live somewhere great in Vegas or Henderson, you will pay for it.

@lasvegasliving9237

Ай бұрын

All of the hidden costs add up in a big way. Prices are just totally out of control!

@bwhiteman1

Ай бұрын

and dont get me started on HOAs. Its like living in Russia or something and they make crap up...leave it to YOU to take them to civil court

@lasvegasliving9237

Ай бұрын

@@bwhiteman1 HOAs are unfortunately necessary in many communities here in Las Vegas but they rule with an iron fist and it's quite frustrating deal with them.

Excellent presentation as always. I really value the transparency.

@lasvegasliving9237

Ай бұрын

My pleasure and thank you!🙏👍

For a person who has a job and getting a set paycheck home ownership is extremely challenging but a business owner will not purchase from the same restrictions

@lasvegasliving9237

17 күн бұрын

It all depends on the job or business to determine whether someone can afford to buy a home or not.

Very educational.thank u for sharing..

@lasvegasliving9237

17 күн бұрын

My pleasure!🙏👍

All i can say is homes have gone up in price since time in memorial especially in most desirable neighborhoods, communities, cities, states, dictated by supply and demand.. Factor in population growrh, land availablility, inflation,etc. Home prices had experienced a rollercoaster ride but overall, experienced appreciation.

@lasvegasliving9237

Ай бұрын

True.

In my area, where the average single family home price is $225,000, a doctor bought a fancy new home last year for $1.75M and moved in the family. Doc made no improvements, but put it on MLS a couple months ago for $2.75M. Now it's down to $2.5M. What is that doc and his listing agent smoking?

@lasvegasliving9237

Ай бұрын

People are just naturally greedy and always want to make as much money as possible.

Thanks for your honesty!

@lasvegasliving9237

Ай бұрын

My pleasure! Thanks for watching!🙏👍

The issue with collectively avoiding paying these GREEDY home prices is that 50% of single family homes are already owned by wall street. Take away their competition and they'll soon be approaching total ownership of all housing. This corporate greed needs to be punished severely before any more of this madness continues.

@lasvegasliving9237

Ай бұрын

The fact that Wall Street was able to invade the residential real estate market is astonishing. They will not have full ownership of the residential market but prices are still massively over inflated and they are definitely a big contributing factor to this mess.

@perkinatorfpv5553

Ай бұрын

@@lasvegasliving9237 I read a while ago about their strategy of buying up 80% of new build communities at market value then over-paying the remaining 20% of said community, just to inflate the pricing. It's kind of hard to compete with these entities who are their own banks..buying in cash.

@lasvegasliving9237

Ай бұрын

@@perkinatorfpv5553 Should be completely outlawed!

First time viewer , very interesting , subbed !

@lasvegasliving9237

Ай бұрын

Thanks so much Harry!🙏👍

Great information - Thanks!!

@lasvegasliving9237

23 күн бұрын

Thanks so much!🙏👍

Very much appreciated your candor

@lasvegasliving9237

Ай бұрын

My pleasure and thank you!🙏👍

nice report this week and full of facts.

@lasvegasliving9237

Ай бұрын

Thank you John!🙏👍

If you can tell me where I can get homeowners insurance for $100 a month, please let me know. Insurance for a $450K home would be around $350-$500 a month. These mortgage payment examples from mainstream media and mainstream Websites are totally misleading. Buyers get sticker shock when they find out their "true" monthly payment. Principle + Interest + Property Tax + Insurance, add Utilities, Maintenance and maybe an HOA fee... It gets overwhelming and quite ridiculous.

@lasvegasliving9237

Ай бұрын

Agreed! That was their automated calculator and it should certainly be higher.

Glad to see this, I am a Realtor, the Palm Springs area, and we are stalled, second home market is near dead. About time someone told the truth about the market in 2024, even Nevada is now unaffordable.

@lasvegasliving9237

Ай бұрын

Yes, it is a disaster Romona. We are at a tipping in my opinion. Not sure how this can be sustainable for much longer. Thanks for the support!🙏👍

Thank you so much and this advice is really helping me a lot

@lasvegasliving9237

11 күн бұрын

My pleasure. Thank you for the support!🙏👍

Nike headquarters laid off 780 people This week in Beaverton Oregon

@lasvegasliving9237

Ай бұрын

I heard about that. Only getting worse.

Las Vegas has become a California suburb

@lasvegasliving9237

Ай бұрын

Facts!

@MM-fh6kp

19 күн бұрын

Take a look at Florida it’s worse my friends!

@lasvegasliving9237

19 күн бұрын

@@MM-fh6kp Florida housing inventory is skyrocketing. I wonder why.🤔

I just subscribed to your channel because you have a great understanding of the state of our country's current economy, and I couldn't agree more.

@lasvegasliving9237

Ай бұрын

Thanks so much for the kind words and support Dan!🙏👍

Great Informatio!!

@lasvegasliving9237

Ай бұрын

Thank you!🙏👍

American people need only blame themselves for all this. The government needs to back off and stop bailing people out.

@lasvegasliving9237

Ай бұрын

I agree! Corporate greed is completely out of control because they can due to absurd and obsessive buying behavior in this post pandemic world.

@sirvandovargas1182

Ай бұрын

And close our Borders, but it won't happen. This week, the Senate Voted against Impeaching the Homeland Security Official, Mayorkus. The low life who's been Lieing, twisting the Law to keep our Borders open. He should be in jail, along with those traitors in the Senate.

@MM-fh6kp

19 күн бұрын

One of the smartest comments and factual….

@lasvegasliving9237

19 күн бұрын

@@MM-fh6kp Also agree.

I have excellent credit... pre-approved for 7.13% from one lender 😂. I Took the lennar rate buydown deal at 4.375%

@lasvegasliving9237

Ай бұрын

That's a great rate and that's what several new home builders are doing rather than lower prices.

Great presentation! Got my attention for the whole duration of the video.

@lasvegasliving9237

7 күн бұрын

Thanks so much for the support!🙏👍

Enjoyed your very informative video

@lasvegasliving9237

Ай бұрын

Thanks so much!🙏👍

I'll just keep saving and renting and eating steaks 🤷🏾‍♂️

@lasvegasliving9237

Ай бұрын

Nice!👍🥩

@bwhiteman1

Ай бұрын

I once was a renter, and my secret to power was negotiating a new lease when the times came....if the landlord would not regotiate, I took my money elsewhere. You would be surprised the power of negotiations if you have great credit and good income, fixed income, etc. The best negotiators will be the conscientious tenant as they improve property and keep it very nice and clean.

@Mike1122.

Ай бұрын

So your rent money is paying your landlords Benz, and you still own nothing? got it.

@lasvegasliving9237

Ай бұрын

@@bwhiteman1 Good point but few landlords have cared with the demand being shown through and after the pandemic.

@lasvegasliving9237

Ай бұрын

@@Mike1122. There are other ways to invest and make long term gains with your finances other than owning a home. Homes are true money pits for most people.

So I'm curious about the example of the home was purchased in 2021 for 450k and then steadily was lowered for years from 725k in March of 2023 to the current asking price of 649k. Was the home purchased new? If so, it can be like a blank box. Dirt back yard, white walls, standard builder grade. Perhaps the owners bought a pool which costs a minimum 100k these days. A pool builder won't even give you a bid without informing you th at their minimum build is 100k this doesn't include landscaping, irrigation, landscape lighting. or additional patio covers or pergolas whatever, etc. On the inside you might want paint, crown molding, maybe epoxy floor your garage add shelving, cabinet pulls, light fixtures, etc. One can EASILY add 100k to 170k on top of the 450k they purchased the home for. that brings the cost on the high end to 620k. Not accounting for inflation or appreciation, just the hard costs of buying and making the home finished. Then, the location has a lot to do with the pricing as well. Same house in 89178 will be far less than in 89138 or any really nice area, like Lake Las Vegas or Anthem, Southern Highlands etc. So you really need to know what has happened with a property and ask why the huge increase. Maybe they did nothing to the house in which case they are just being greedy and taking a shot but in some cases it's justified depending on location and improvements to the property.

@lasvegasliving9237

Ай бұрын

Good points. It will always depend on location and what has been put into the home.

@HoldenMcG

Ай бұрын

​@@lasvegasliving9237 I thnk it's important to also consider the negative effect the FED has on the money supply and resulting inflation. It would help rationalize/normalize the values used and thus may not make the owners look so greedy on the face of it. The third house example, when adjusted for inflation is $519K (2021 = $450K --> 2024 = $519K), so this is a more fair starting point. If you add some basic annual R.E. price increases a different picture emerges. Rounding the numbers and using a 5% annual R.E. appreciation increase as starting point from 2021 through 2024, the price of the home would sit at ~ $600K ($519K + 5% [$26K] = $545K + 5% [$27K ] = $572K + 5% [$29K] = $601K. Now we can look at the improvements/unique design that may make the house more atractive/desireable (roof deck [goodif the furniture doesn't blow away and/or cause nearby damage] there is a dipping pool in back, not sure if that helps or hurts the value though???)... Bottom line, is I'm not too sure they are that far off in the asking price. I see it, again, as we are victims of the excessive money supply (i.e., unthetered to tangible GDP, doubling the money supply will halve its value!), and not always seller greed.

@lasvegasliving9237

Ай бұрын

@@HoldenMcG Good info! Thanks for sharing your thoughts.

@TheeLynnChase

Ай бұрын

@HoldenMcG excellent analysis. The $5.00 Foot long is now $6.00 for a 6 inch sandwich. That's an over 100% increase. If applied to housing a 2000 sq. ft. 500k house would now be one million dollars for a 1000 sq ft. house. Back after the housing collapse you could buy a house for the cost of a sandwich so I thought I'd use that as the comparison. 😂 lol

3-car garage for a 1,650/sf house? Wow! Never have I seen that with the homes here in TX.

@lasvegasliving9237

Ай бұрын

Different styles in different areas of the country.🤷‍♂

I really enjoy your channel interesting & informative 😊

@lasvegasliving9237

Ай бұрын

Thanks so much Nancy!🙏👍

Californians have ruined the affordability of realestate in Texas.

@lasvegasliving9237

Ай бұрын

It seems Californians are infiltrating many real estate markets and creating mass affordability issues everywhere.

@sirvandovargas1182

Ай бұрын

Californians who bought homes in Texas, are making Texan sellers prosperous. Those moving out are middle class, highly educated, up in the College levels. Texans , on an average have to get some college to keep up in the compeitive employment market. English is the language to begin with. Or get left behind.

@jabreck1934

Ай бұрын

As Abbott continues to allow developers to destroy productive farmland the fastest in the country. You voted for it, you deserve it!🤡👍

@lasvegasliving9237

Ай бұрын

@@sirvandovargas1182 Thanks for sharing that info.

@lasvegasliving9237

Ай бұрын

@@jabreck1934 Scary what has been happening across the country from those in charge. 🤷‍♂

I have much less in bank savings, because I moved my 6-figures out of a "too big to fail" bank to pay down my 2.5% interest rate mortgage with 28 years left. I want to be completely out of debt, including my mortgage, and without counterparty risk as soon as possible before the next World War and Greater Depression hits hard. Several years ago, I cancelled my last credit card. I pay with cash or with debit card, no checks. I owe nothing and I have positive cash flow above my expenses. For 20+ years, I saved and only paid cash to buy my used cars. My only real estate worries are skyrocketing insurance and property taxes; they're coming sooner than you think.

@lasvegasliving9237

Ай бұрын

Hopefully you can have peace of mind knowing you have less debt to deal with and ultimately less headaches.

Appreciate the job you're doing with this channel. Could you provide some information on the SIDs and LIDs situation in the Las Vegas area.

@lasvegasliving9237

Ай бұрын

Thanks so much for the support. I will try to include some of that other information in a future video.👍

Positive note ..Jerry i do enjoy watching your show i think the content is credible and you cover your market very well! Kudos on the show..

@lasvegasliving9237

Ай бұрын

Thanks so much!🙏👍

News flash -- interest rates aren’t going to come down -- inflation is winning that battle …builders are going to continue buying your rate down to maintain their price structure. But for how long ?

@lasvegasliving9237

Ай бұрын

Agreed! We'll see how long it takes before we see a reversal with builders and sellers.

Crazy how expensive.🧐Thanks for showing us the extremes.🤙

@lasvegasliving9237

Ай бұрын

My pleasure. Thanks for watching!👍

Not just the defense department, trucking industry is between 33/50 % less freight…. And so on. Makes no sense on keeping the economy inflated, there’s a lot less liquidity and feels like an implosion.

@lasvegasliving9237

Ай бұрын

At some point the music is going to stop.🤷‍♂

Thanks for being one other few honest agents

@lasvegasliving9237

Ай бұрын

My pleasure!🙏👍

Best realtor on KZread. I live in NY but am planning on Vegas purchase at some point when it's sane to do so. Jerry will be my point man. Thanks

@lasvegasliving9237

Ай бұрын

Thank you so much!🙏👍

Oh come on Jerry. Dave Ramsey and Barbara Corcoran say house prices aren’t coming down. Barbara even says she expects them to go up 25%. 🤣😂🤣😂🤣😂

@bbustin1747

Ай бұрын

Dave Ramsey the credit repair man . 😂

@harryireland1935

Ай бұрын

In a normal, functional society that wouldn't be allowed to happen, a 25 or 50 or 100% increase in homeprices. But we're far off from a functioning society. Central bankers have hijacked economics and basically, the entire world. Just ask yourself, WHO EXCACTLY benefits from higher debtlevels, inflation and higher interestrates? That would be the banks and the financial industry.

@lasvegasliving9237

Ай бұрын

They must be right!!🤦🏻‍♂😎

@bbustin1747

Ай бұрын

@@harryireland1935 Be your own central bank, they are buying historic levels of gold and reducing their dollar holdings and exposure. Times are changing very faster than they can perceive.

@jonathantaylor6926

Ай бұрын

Dave Ramsey was 20 years old when interest rates peaked at 18%. He thinks his experience is going to happen again, but it can’t. That required 1,500 basis points in cuts.

Excellent job my friend!

@lasvegasliving9237

Ай бұрын

Thanks so much!🙏👍

I'm watching from Australia. Your doing a great work,

@lasvegasliving9237

Ай бұрын

Thank you so much for the kind words and support from down under!🙏👍🇦🇺

Second note, a lot of the newer built homes have ruthless expensive HOAs, make you can comply with the HOA payments and rules before you buy!

@MgtowRubicon

Ай бұрын

Never own or loan in HOA. NEVER EVER!

@lasvegasliving9237

Ай бұрын

Very true!

@LA_Commander

Ай бұрын

Yes I made that mistake once. Never again.

@lasvegasliving9237

Ай бұрын

@@MgtowRubicon Most homes in Las Vegas are within HOAs.

Sad who the f can afford 3200$ a month for 30 years ? When the food, gas, electricity, etc inflation is out of control! The only people who can afford Vegas is people from California! It’s simple Vegas people have to move ! It’s math , California sells their home for 899k pd 350k have 500k equity take profit and buy up Vegas homes to retire with no mortgage and cheaper taxes use the profits from their California home to pay the 500k home in Vegas ! But Vegas people don’t have this advantage and can’t and will not get approved for a $500 k mortgage! Vegas wages stink! So it’s for the haves and have nots ! And people can’t even afford the rents now in Vegas unless you have 3 people or families paying $2300 Aprox for rent ! Who can afford 20k a year for rent in Vegas ? It’s out of control and it has to crash or you better find a different place to live then Vegas and get a bunch room mates ! Between housing, vehicle payments food etc if you don’t make 100k your bankrupt in Vegas ! Do the simple math your living Ck to Ck making 100k in Vegas ! So if 2 people not making 50k each in Nevada each household, this is for rent , you can’t do it ! Worse times to come because credit going to get shut off like 2008 . I hope Vegas crashes to much greed ! In Vegas they build a 2.2 billion sphere but we can’t address the rent affordability! All Vegas cares about is the greed they don’t care about the American families trying to just survive! Last sad when u see homeless people with tents on the sidewalks in front of the community I live in Vegas !

@lasvegasliving9237

Ай бұрын

Unfortunately, there's a lot of inequity in this world and the average person gets hurt the most. Sad.

@itechfive240

Ай бұрын

I moved here in 2019 and thought prices would come down so I could buy a home in a year or two. Will I miss the boat and I will be moving in a year or two if there's no reset because prices in other good cities are coming down fast. Hate to do it but that's the facts and the greed here has gotten out of hand for regular Americans that have a family.

@MchlV-es7qf

Ай бұрын

Did you consider that prices are going up not because of greed but because of the government? Can you make a connection between your way of life and the people you vote for? How about the price of gas? Did you ever research why it is high? Or, you just think it is all because of greed?

@jfreedom4290

Ай бұрын

@@MchlV-es7qf Greed is the main factors it all revolves Greed in one way or another government greed , corporate greed , personal greed etc ! You’re fighting a losing battle!

@lasvegasliving9237

Ай бұрын

@@itechfive240 I don't see prices in other cities dropping fast but it all depends on whee you ultimately want to be.

Thank you Jerry

@lasvegasliving9237

Ай бұрын

My pleasure Zip!🙏👍

You are the honest and true best real estate agent.

@lasvegasliving9237

Ай бұрын

Thank you so much for those kind words and support!🙏👍

So I started getting my life on track around the 2019ish range and have been here in Las Vegas for almost 20 years. Business was doing good. I did good even doing the virus. I've never owned a home in my life because I've been broke but in the middle towards the later months of 2022 there was a possibility if things were on track one may be possible soon. Fast forward to 2023, my business did approximately 23% less in sales than 2022. Costs also went up. My credit card balance which was basically non existent a few years ago is close to being maxed out. There's no way a home is in my future anytime soon. Oh well. That's Bidenomonics.

@lasvegasliving9237

Ай бұрын

Sorry to hear that. Hopefully things will improve soon.

@slowery43

Ай бұрын

Sounds like you make a lot of really bad financial decisions then look to blame someone/anyone else. I am anything but a Biden fan but you are respensible here not him

Only $6 million. Seems like a bargain. I’m all in. May bid above ask

@lasvegasliving9237

Ай бұрын

Lol...me too!😂

@InvestingWithAdamK

Ай бұрын

@@lasvegasliving9237 we’ll partner on it and either offer cash or can do a no money down type of financing

Thank you excellent information on this current high inflation

@lasvegasliving9237

Ай бұрын

My pleasure! Thanks for watching and commenting!🙏👍

No it's not everything in the economy is fine. Just ask the current administration.

@lasvegasliving9237

Ай бұрын

Everything is definitely not fine.

@snap4720

Ай бұрын

Bidenomics

@lasvegasliving9237

Ай бұрын

@@snap4720 Yup.

@shawn-Dman

13 күн бұрын

Yep, the current administration got BS degrees in lying.

When sellers run out of money guess what will happen to home prices.

@TheeLynnChase

Ай бұрын

But they aren't selling because then they become buyers. If they do sell they need a premium or it isn't worth it to sell at all. Most sellers now have low interest rates so the chance they "run out of money" is not really reality since they have very low interest rate. Buyers are screwed and they have to pay for their own agent now.

@Koushi82

Ай бұрын

U mean sell their 2nd and 3rd 4th homes nub. U really think regulars have 1 house? So naive

@sawtoothbygeorge

Ай бұрын

@@Koushi82 Hey, how many houses a person has wasn't the point. Spank yourself for being an idiot.

@lasvegasliving9237

Ай бұрын

We'll see how it plays out.

@MgtowRubicon

Ай бұрын

​@@TheeLynnChase Buyers were always paying for their own agent. Where do you think the sellers get the money for paying the commission?

great video very educational, I learned all this after I bought my first house.

@lasvegasliving9237

13 күн бұрын

Thanks so much for those kind words and support!🙏👍

Jerry ..you’re doing a great job of marketing yourself and the Las Vegas market ..I’m not a buyer as I’m in a current mortgage from 2017 ..but .. I’m also concerned about the times ..and appreciate your advice to this audience ..get rid of debt! ..as fast as possible..and save ! Save! Save! ..definitely rough times ahead ..good luck in your business and to your clients! ..( I liked and subbed) ..be well ..

@lasvegasliving9237

Ай бұрын

Thank you very much for the kind words and support!🙏👍

Thanks Jerry for such a great video!!! These people who came from California have no idea of how the Las Vegas real estate market works because they still think that they are living in the California market. I just picked up a client who paid $375k house in downtown Las Vegas in a high crime neighborhood blocks away from the Fremont Street Experience....unreal!! :)-

@lasvegasliving9237

Ай бұрын

Californians certainly have changed the real estate game here in Las Vegas. Unrecognizable market and decision making!

I keep hearing WHY Californians are moving to Vegas is because they are selling their own houses for millions and seeing a RELATIVE bargain in Vegas. I get that. What I don’t get is, who’s buying all the million dollar homes in CALIFORNIA? That’s an even bigger question than the Vegas market because the Cali prices are much higher.

@lasvegasliving9237

Ай бұрын

Good question! Crazy times!

@hippiebits2071

Ай бұрын

People who already live in CA I would assume. That’s not an insane price to some especially if you already have a ton of equity in what you are selling.

@lasvegasliving9237

Ай бұрын

@@hippiebits2071 Yes, mostly localized moving.

Great video, keep it up.

@lasvegasliving9237

Ай бұрын

Thank you so much!🙏👍

We (wife and I) recently celebrated a birthday at our favorite local steakhouse. As a party of two, we each ordered the standard steak dinner. Total cost for the two of us was $177.62. I checked the credit card statements; last ate at this steakhouse in June 2023, and the standard steak dinner for our party of two was $89.56. So in the last 10 months, the cost of our steak dinner increased $88.06, or 98 percent!

@lasvegasliving9237

Ай бұрын

Wow! Thanks so much for sharing that. Inflation is far beyond the numbers reported to the public.

@Mike1122.

Ай бұрын

Stop eating as Ruth Chriss and try outback.

@lasvegasliving9237

Ай бұрын

@@Mike1122. You definitely missed the point he was making regarding inflation. The price increases in that time is the key factor, not choosing a lower end steakhouse.

Why can't people understand that the era has ended. People.need to be more practical.

@lasvegasliving9237

Ай бұрын

Consumer spending is completely out of control since the pandemic ended. It is a huge factor as to why prices are so high nowadays.

Another I fail to understand are utility increases: Provider: Southern California Edison (SCE) March of 2023 usage/cost (USD): 557 kWh/$97.74 March of 2024 usage/cost (USD): 617 kWh/$239.10 I run a home office and our habits have not changed dramatically in a year. What a time for a monopoly company to do rate hikes.

@lasvegasliving9237

Ай бұрын

Such absurd corporate greed! Thanks for sharing.

@LA_Commander

Ай бұрын

It's not greed it's the green new deal coming from Sacramento politicians it's the same reason we pay double for gasoline too. Yes taxes play a part but it's mostly costly regulations coming from the state.

@rene-bl5gq

Ай бұрын

@@LA_Commander Getting really tired of this shit here in California.

@jimkelley8658

Ай бұрын

NV energy charges around .16 kwh. SCE in CA charges .34 kwh and they have tiers. Use too much and it jumps to .44kwh.

@rene-bl5gq

Ай бұрын

@@jimkelley8658 During Summer months, what would you say is the avg kWh usage?

Good video, Jerry. Would like you to feature more homes in the Green Valley area.

@lasvegasliving9237

Ай бұрын

Thanks for the support. Will do!🙏👍

Might call !

@lasvegasliving9237

Ай бұрын

Sounds good!

Thank’s Jerry once again informative info😊

@lasvegasliving9237

Ай бұрын

My pleasure!🙏👍

That 6 million dollar home should be illegal. I hope it sits there until it goes back down to a reasonable price. 5 mill price increase my @$$ The best thing I did was leave when I realized it was turning I to eastern California. They brought all their trash.

@lasvegasliving9237

Ай бұрын

Totally absurd price on that home! So many Californians moving to Las Vegas has turned it into an unrecognizable city.

@msk384

Ай бұрын

​​​@@lasvegasliving9237 YES, In more ways than the price of real-estate. People are so rude on the roads as they never were 20 years ago in Vegas. Driving use to be relatively relaxed, now it feels like a combative rat race. I was sitting at a red light at Buffalo and Alta and when the light changed, this young woman hurled her large McDonald's bag out of the window and gave it the gas (California Plates). I am disgusted by what the city of Las Vegas is turning into. Also, everyone interested in buying a home in Vegas should spend a good hour on Zillow or Redfin to look at home pricing increases/HOME PRICE HISTORIES. There are no words for the greed that I am seeing. Making $500 K off a house you have owned for 2 years is crazy! Yet, people are getting away selling them over and over again. I suspect it is happening to folks who have reached out for assistance to unscrupulous real estate agents. Folks are not getting the full information. Sad but true. With new home prices coming down a bit, that is actually starting to look like a better value.

@Arcticfox7

Ай бұрын

Don't worry, some crypto millionaire will swoop it up in no time.

@jimkelley8658

Ай бұрын

For what it's worth it does say something to the effect that seller will build it out to buyers choices. Even so, I can't see the buyer getting a few million worth of finishing plus the hassle. Nope.

@lasvegasliving9237

Ай бұрын

@@msk384 The whole world has gone mad ever since the pandemic ended. Consumer spending is totally out of control along with a lot of people.

Thank you

@lasvegasliving9237

13 күн бұрын

My pleasure. Thanks for watching!🙏👍

Hey Jerry! My husband and I really enjoy your videos. Your knowledge and and expertise in real estate, the economy and the Las Vegas market is greatly appreciated. We are most likely moving to Arizona and wondered if you could you recommend someone like yourself that we could use.

@lasvegasliving9237

Ай бұрын

Thanks for the support! I don't know of anyone in Phoenix that I could recommend but hopefully you can find a solid realtor there. I am sure they have some very good ones there.

get a cheap home in Georgia with land under 55k and fix it

@katydid2877

Ай бұрын

The downside to most affordable areas is the pay is less also.

@lasvegasliving9237

Ай бұрын

That's not a likely option for most people.

@Mike1122.

Ай бұрын

Like folks really want to live in Georgia?

@katydid2877

Ай бұрын

@@Mike1122. Well, there are millionaires in GA so somebody wants to. But yea that’s the response I always get when I suggest places with a lower cost of living. I guess people rather live in LA and stand around with their hand out for the government to support them than move to a cheaper area.

@scottstempmail9045

Ай бұрын

@@katydid2877 What hand out?

Good morning to all my gold and silver bugs oh of course platinum too. Good content as always jerry

@lasvegasliving9237

Ай бұрын

Thanks for watching.👍

Visited Vegas in last summer. Food prices were so expensive. Laid off at my work last year, only 5 ppl. Some still don’t find a job yet. One said using money from her savings. A friend works at a large tech company. 10 out of 12 ppl from her dept got laid off. That was 2nd round. Both her managers from both rounds got laid off. A friend’s cousin got laid off from tech. Was getting $200K now getting $0.

@lasvegasliving9237

Ай бұрын

It's even more expensive a year later! The job market is definitely worsening with each passing month. I have heard of many people currently struggling to get a job. Sad.

@sallyho146

Ай бұрын

@@lasvegasliving9237 why the housing still not crashing yet? With crazy inflation, it is challenging day to day. Met Uber drivers from East cost. They are all holding two jobs to meet end needs.

excellent explanation and you are the real professional !!

@lasvegasliving9237

23 сағат бұрын

Thanks so much!🙏👍

If the gov stop allowing foreigners to purchase homes and restrict people owning multiple houses will solve housing crisis in U.S

@lasvegasliving9237

Ай бұрын

That would be ideal but unlikely to happen.

@MORE1500

Ай бұрын

Similar laws exist in other nations but in America, 'market forces' rule.

@lasvegasliving9237

Ай бұрын

@@MORE1500 That will always be the case.

@scottstempmail9045

Ай бұрын

@@MORE1500 The wealthy and well connected rule.

Stop purchasing items will bring prices to come down……🥳🥳🥳🥳🎭🌬️

@bbustin1747

Ай бұрын

If you are going to buy anything…. buy gold / silver …. Real money !

@lasvegasliving9237

Ай бұрын

That's what I keep preaching!

@lasvegasliving9237

Ай бұрын

@@bbustin1747 Many would beg to differ on that.

@bbustin1747

Ай бұрын

@@lasvegasliving9237 eventually they will be convinced …. everyone’s pain threshold is different. difficult times require different measures.

@lasvegasliving9237

Ай бұрын

@@bbustin1747 We'll see.