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Welcome to the premier resource for all real estate information and services in your area. I hope you enjoy your visit and explore everything my realty website has to offer, including Las Vegas real estate listings, information for homebuyers and sellers, and more About Me, your professional Las Vegas Realtor.

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Daily News Stay Informed

Housing Is Still Affordable in the United States!

Housing Is Still Affordable in the United States! | Simplifying The Market

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.”

If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look at the results of the latest Housing Affordability Report from the National Association of Realtors (NAR).

According to NAR:

“A value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.”

  • The national index results for August came in at 141.2.
  • This is up from 138.9 in July, but down 8.3% from last August’s value of 153.9.

One big factor in determining affordability each month is the interest rate available at the time of calculation. In August 2017, the 30-year fixed rate mortgage interest rate was 4.19%. This August, the rate rose to 4.78%!

With an index reading of 141.2, housing remains affordable in the U.S.

Regionally, affordability is up in three out of four regions. The Northeast had the biggest gain at 6.2%. The South had an increase of 2.4% followed by the West with a slight increase of 0.1%. The Midwest had the only dip in affordability at 4.8%.

Despite month-over-month changes, the most affordable region remains the Midwest, with an index value of 175.7. The West remains the least affordable region at 101.2. For comparison, the index was 146.7 in the South, and 151.2 in the Northeast.

Bottom Line

If you are thinking of selling your home, let’s get together to discuss the affordability conditions in our marketplace.

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Will Home Prices Continue to Increase?

Will Home Prices Continue to Increase? | Simplifying The Market

There are many unsubstantiated theories about what is happening with home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

However, the increase in prices is easily explained by the theory of supply & demand. Whenever there is a limited supply of an item that is in high demand, prices increase. It is that simple. In real estate, it takes a six-month supply of existing salable inventory to maintain pricing stability. In most housing markets, anything less than six months will cause home values to appreciate and anything greater than seven months will cause prices to depreciate (see chart below).

Will Home Prices Continue to Increase? | Simplifying The Market

According to the Existing Home Sales Report from the National Association of Realtors (NAR), the monthly inventory of homes for sale has been below six months for the last five years (see chart below).

Will Home Prices Continue to Increase? | Simplifying The Market

Bottom Line

If buyer demand continues to outpace the current supply of existing homes for sale, prices will continue to appreciate. Nothing nefarious is taking place. It is simply the theory of supply & demand working as it should.

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20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC]

20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC] | Simplifying The Market

20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • When listing your house for sale, your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!
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Tammy Eden
Signature Real Estate Group
9525 Hillwood Dr., Suite 180
Las Vegas, NV 89134
Phone: 702-513-1300
Email: eden_str@yahoo.com

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Testimonials

Local knowledge:5 Stars Process expertise:5 Stars Responsiveness:5 Stars Negotiation skills:5 Stars I have given Tammy Eden Five Stars in each of the categories of Local Knowledge, Process Expertise, Responsiveness, and Negotiation Skills. Tammy consistently demonstrated these qualities and provided me with the highest quality of service throughout the duration of my association with her. Tammy listed and managed the sale of my home of over twenty years and worked tirelessly to help me find and purchase my new home. In addition to being genuinely expert in her profession, Tammy is thoroughly caring and committed to client satisfaction. I recommend her without any reservations to anybody buying or selling property in Las Vegas Doug S.
Local knowledge:5 STARS Process expertise:5 STARS Responsiveness:5 STARS Negotiation skills:5 STARS I truly believe I only became the owner of my house because Tammy was my agent. The market in my area currently has a shortage of houses in my price range, creating a bidding war. Tammy understands the ins-n-outs of this difficult market and knows how to close the deal. From bid to closing was 3 weeks. Wow Danielle P
Highly likely to recommend 02/08/2018 - chakki10 Sold a Single Family home in 2018 in Desert Shores, Las Vegas, NV. Local knowledge:5 STARS Process expertise:5 STARS Responsiveness:5 STARS Negotiation skills:5 STARS We sold our house with Tammy and got 25,000 above appraisal wow!!!!! Also got the new one with her as well. She was very patient and professional during the whole process and always kept the best of our interest in mind. It’s been a pleasure to work with her and I highly recommend her services to anybody Chakki10
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