Another great content I live in Las Vegas and looking for home before the pandemic... the house price now is insanely so high.
@ReventureConsulting
3 жыл бұрын
Thanks for the comment Nancy! Sky high prices and sky high job losses aren't a great combination.
@KaoriLuxuryRealEstate
3 жыл бұрын
We are finally seeing a normalization now in the Las Vegas market. We are still under a one month supply with low inventory. Healthy market has six months worth of inventory.
@actorsinsider9967
3 жыл бұрын
I live in Vegas. Lost a home in the crash. The exodus of California is boosting the housing market temporarily. You are right that there are no jobs here so as soon as the govt stops giving away money how are these people going to pay their rent or mortgage?? Answer: they're not. I have a great and diverse resume but am having a hard time finding a quality job. People working at McDonald's are not going to qualify for decent mortgage or rent. Also, crime has gone up tremendously! I've talked to officers here who are so disgusted with the newcomers and their lack of civility
@ReventureConsulting
3 жыл бұрын
Thank you so much for the comment and personal insight! I agree with you that the California demand is temporary. It's funny how in every single southwest market - whether it be Las Vegas, Salt Lake, Phoenix, or Austin - everyone thinks the Cali demand is endless. Obviously that can't be true everywhere. Good luck in your job search!
@SIGNALFREQ
3 жыл бұрын
Yeah...crime!!!
@bcarpiothetek
3 жыл бұрын
I would imagine a lot of people are moving here that work remote. I did. I work for a company in a totally different state 100% remote. Most of the tech industry is moving to a fully remote work experience it doesn't matter where you live. People like me are moving from high priced cities to cities with no state income tax and with lower costs of living because we can.
@thomaskim5394
3 жыл бұрын
@@bcarpiothetek Not many companies are moving to 100% remote work. For example, only 20% of Google employees are going 100% remote work. 60% 3 days per week at the company. Apple is in similar situation. Most likely, workers have to come into the companies 2 to 3 days. That's why tech workers are buying homes 1 to 2 hours away from the companies.
@bcarpiothetek
3 жыл бұрын
@@thomaskim5394 It's true, Google, Apple, and any other tech giant with a "Googleplex" is trying to get people back into the office; however there is this entire middle layer, companies that are mid size tech companies that have NO Googleplexes and are 100% remote.. I just spoke with a recruiter who said they are being flooded with resumes from tech leadership from Google and Apple trying to get out for 100% remote jobs.
@jessicathomas4672
3 жыл бұрын
Locals can not afford to buy homes due to out of state buyers. The housing and rental market sucks! I am planning to move ASAP.
@arttaggerr2233
2 жыл бұрын
Boomtown in Bullhead City, Arizona! Investment COMMERCIAL property in Old Bullhead, straight across the river from the Golden Nugget Casino and Harrahs Casino in Laughlin, Nevada, IS DIRT CHEAP. Jet ski businesses want to spread out. They need commercial property to store their jet skies. Better buy now before they grab everything up! The jet skies businesses are making BIG BUCKS and can afford to pay for more Commercial expansion in OLD BULLHEAD City.
@inaperfectworld8087
3 жыл бұрын
What goes up ( especially when it goes up FAST ) must come down. Waiting for the POP !!
@ReventureConsulting
3 жыл бұрын
Agreed! Thanks for the comment!
@KaoriLuxuryRealEstate
3 жыл бұрын
I'm a Las Vegas realtor and we are already experiencing a normaliziation in the market!
@williamwilson9283
3 жыл бұрын
Thank you for a very informative video.
@ReventureConsulting
3 жыл бұрын
Thank you for watching William!
@anhrestuarant
3 жыл бұрын
If you change a billion lives, that's the formula to becoming a billionaire. Loaning, adding, giving, sharing, providing value creates wealth - of mind, heart, soul and yes, finances but it starts with the value you give. Love it
@janebundy6480
3 жыл бұрын
Thank for the analysis, it’s good to know that Vegas has too much surprises
@arsenstepanyan6537
3 жыл бұрын
Top content as always!
@ReventureConsulting
3 жыл бұрын
Thank you Arsen!
@jackinvegas
2 жыл бұрын
Wow! A 20+ minute video on Las Vegas real estate and not once did I hear the word "water". Before you think about buying in Vegas you might want to check out the trend of Lake Mead's water level.
@garrettsnuff
3 жыл бұрын
Thank you
@museofthecastle
3 жыл бұрын
Watched some of your videos and I am now subscribed. So far I like what I have heard! I'm very skeptical of info on youtube because anyone can publish and anyone can offer their opinions. But I like that you share a lot of objective and independent data which, so far, is keeping you measured and honest. I am not an investor. I am someone looking to leave the Bay Area in 2022 (and leave Cali) to purchase a house. I'm REALLY curious what you say about the Vegas area. Keep publishing your videos.
@ReventureConsulting
3 жыл бұрын
Thank you! I appreciate the sub!
@thomaskim5394
3 жыл бұрын
Why in 2022? Where else are you looking at?
@KaoriLuxuryRealEstate
3 жыл бұрын
I am a Las Vegas realtor and KZitemr. You can find my home buying videos on my channel. If I can help you with your relocation and find you a home here, please let me know!
@KaoriLuxuryRealEstate
3 жыл бұрын
Thank you Nick for your super informative video! I'd love to do a video with you! As a local Las Vegas realtor, I can offer you the "real time" experiences my buyers are going through right now!
@truckingwithtobee
3 жыл бұрын
First thing people want to know is, are you from Vegas and do you know what you’re talking about? The “affordable“ areas that you’re talking are some of the worst areas in Vegas. They are very dangerous. Although, even the more expensive ZIP Codes that you show have a lot of home invasion’s, auto thefts etc. I know this because I was born and raised here. I’m telling you right now if you have to go to those more affordable areas you shouldn’t be buying in Vegas.
@ReventureConsulting
3 жыл бұрын
Thanks for the feedback! As I said at 19:38 - I'm skeptical of those ZIPs continuing to appreciate due to their high poverty rates, which bring about many of the issues you mention. But only the future will tell. We shall see!
@bcarpiothetek
3 жыл бұрын
The crime in Vegas isn't worse then that of any big city. I moved here from Denver and Vegas has nothing on Denver. As a consultant I spent years traveling the country, LA, Boston, Chicago, San Francisco, Tempe AZ, etc.. Crime is on the rise in every city that is experiencing growth. I'm sure there are a lot of people living in the "affordable" areas and they don't have any issues.
@truckingwithtobee
3 жыл бұрын
@@bcarpiothetek Talk to the people that live around UNLV, Sunrise manor, downtown,arts District, North LV. At the end of the day. Regardless if you’re an “consultant” or not, you still have no idea of what you’re talking about.
@bcarpiothetek
3 жыл бұрын
@@truckingwithtobee You live in a little bubble, Vegas's crime rate is nothing compared to even a moderately large city. Quit overreacting and get out a little, you might learn something.
@truckingwithtobee
3 жыл бұрын
@@bcarpiothetek I’m NOT comparing it to ANY other city! My comment was about Vegas. Stop trolling the feed looking for someone to fight with.
@MetalBum
2 жыл бұрын
Can you do vegas update on this I think they now have same job amount. According to the FRED it shows that we’re back to the 2019 job count again in 2022. Do you think vegas will be ok!?
@brendanlyons3688
3 жыл бұрын
Soooo much useful information here! RE family, don't trust mainstream media to dispense impartial information. Get your metrics from places like this.
@ReventureConsulting
3 жыл бұрын
Thank you Brendan! Much appreciated!
@chriseberhardt3020
3 жыл бұрын
If one examines your 20 year home value graph without the 2008 housing crash (due to sub-prime lending) the real estate appreciation rate is organic. We don't have sub-prime lending anymore and the only issue currently at hand is the foreclosure moratorium. We won't see many foreclosures due to the built-up equity and homeowners nowadays are not highly leveraged as they were in 2008. I moved to Vegas (Boulder City) from LA 5 years ago and I don't see the California exodus ending anytime soon. It's ironic that Southern Nevada is "running out of desert" to build upon since much of Clark County butts up against Federal lands. Indeed, the layoffs and loss of jobs will be a factor but for every one person losing their job there's an affluent Californian moving here to purchase a house. On a positive note there's some casinos holding job fairs and I can see the unemployment rate improving in the next few years. Since Nevada is a business-friendly state I can see more jobs coming here outside of the hospitality sector. Thanks...great information!
@ReventureConsulting
3 жыл бұрын
Thanks for the comment and local insight Chris! I agree with you that the long-term price growth in Vegas - 2001 to 2021 - looks legitimate. However, I wouldn't be so quick to write off the job losses. These 13-14% levels in Vegas are depression-level and they considerably outweigh the net inward migration over the last year.
@RickDuggan
3 жыл бұрын
We're not really running out of land. The BLM auctions off land regularly to developers.
@chrisroth1
3 жыл бұрын
This info is way out of date today. Need to revise for fall of 2021, prices have skyroceted in thelast few montths due to rich people moving from LA .
@markterpstra3440
3 жыл бұрын
A lot of people are moving out of California into Nevada.
@KaoriLuxuryRealEstate
3 жыл бұрын
Yes, I work with California buyers all the time!
@briansmith5293
2 жыл бұрын
What about 89144?
@Cyrus992
3 жыл бұрын
I disagree when you point on out that Las Vegas is landlocked by mountains. It may be in Henderson and Summerlin but here is still plenty of land especially on the southwest and Northwest section of the valley. Also there are plenty of nearby valleys (where Jean, Indian Springs, Searchlight, etc.. ) are located that still have plenty of land. I currently live in Las Vegas and have done plenty of videos about it. I believe that the few developers that exist are created artificial scarcity to drive up home prices. Boxabl just started a new factory in North Las Vegas which offers made homes for $50,000 starting. This will be the game changer.
@ReventureConsulting
3 жыл бұрын
Thanks for the perspective! I certainly hope we see a revolution in cheaper, more affordable homes.
@sthiel1917
3 жыл бұрын
Yes, additional land, but BLM land has to be negotiated and released to the county for building..so it is usually a slow release and sale..Jean, Indian Spring and Searchlight are at least a 30-45 minute desert drive..with limited infrasture right now...maybe future building, but people are hesitant to move to those locations..
@Cyrus992
3 жыл бұрын
@@sthiel1917 Senator Cortez Masto plans on expanding the boundary. You can acquire the land by just nominating it and goes to an auction. If more folks see that they are part of the reason for the housing shortage, they will have to change.
@sthiel1917
3 жыл бұрын
@@Cyrus992 should be interesting to see if she does or how that transpires..thank you
@lynnh1935
3 жыл бұрын
Awesome analysis. Thank you for sharing this with us. The information is extremely valuable to those of us looking to buy in this insane market. What's a good source for pricing and crime data?
@ReventureConsulting
3 жыл бұрын
Thank you! Zillow has value data down to the ZIP code. Often cities have their own GIS crime mapping website, so check for that.
@lynnh1935
3 жыл бұрын
@@ReventureConsulting Thank you.
@avayu2289
3 жыл бұрын
Again, you cannot equate subprime crash to a market where while interest rates are low, mortgages are a lot harder to qualify for. And cash investors can hold in down turns. Developers are now releasing limited lots as well. You should invest in a property or a few to get the market movements IRL instead of mere data analytics.
@janebundy6480
3 жыл бұрын
Although the average prices are still lower than average of the most markets
@ReventureConsulting
3 жыл бұрын
This is true! But while the prices are lower than other markets in general, they are high relative to local wages.
@KaoriLuxuryRealEstate
3 жыл бұрын
The Las Vegas market is attracting out of town buyers because of its tax benefits and affordable lifestyle. For locals, prices are increasing and for some, they will not be able to afford living here.
@johnjaco5544
3 жыл бұрын
Think about Drought, think about lack of water Think about crime homeless drug addicts Rogue police you name it Las Vegas has it. Low wages High property tax Las Vegas isn't the place you wanna be. What is gonna happen when covid comes back for round 2 or 3???????
@ReventureConsulting
3 жыл бұрын
Interesting points John. A lot of people seem to think COVID is over, but the rest of the world is showing it's still very much around.
@daliagutierrez710
Жыл бұрын
Where can I find these maps
@DrLimbic
3 жыл бұрын
Did you do this review bc your viewers are from Vegas? Great content. Liked
@ReventureConsulting
3 жыл бұрын
Cover a new city across the US every Wednesday!
@kristymenser1528
3 жыл бұрын
Please do an updated video, with current unemployment rates & building permits and other relevant stats. We want to know when will be the best time to sell. Is vegas showing signs of reverting back to 2020 prices in the next 6 - 12 months? Hearing from friends who work as new home builder representatives, people are paying 15k over appraisal. As well as we are getting way less multiple offers on pre owned homes. Our home in summerlin has gone up 250k just since March 2020. Which is obviously way too fast. Also locally so you are aware the news is constantly covering that employers can't find employees, and that when they do apply they tell the employer they are only applying to stay on unemployment benefits. So then the employer stated on the news they don't hire since they don't feel that individual will show up for work. So I'm not sure how accurate those unemployment rates are until additional covid benefits disappear. As well as the moratorium expires Saturday. Please update vegas stats!
@BangFamilyvideo
2 жыл бұрын
kristy, best time to sell your property is NOW, when supplies is shortage. and this time is seller market.
@Pingsmingu
3 жыл бұрын
Hmm now am worried just closing on a condo in Vegas in 2 weeks 😞 hope it rents well.
@ReventureConsulting
3 жыл бұрын
There’s definitely some concerns for the Vegas market. Rentals have actually held up well during the COVID downturn. But rubber will meet the road when eviction moratoriums roll off.
@KaoriLuxuryRealEstate
3 жыл бұрын
I am a realtor in Las Vegas and I have many renters that cannot find a rental property as there is low inventory on rentals. If you need any help renting tour property, please let me know! I have qualified renters ready to go!
@kenng3137
3 жыл бұрын
can i get the link for Expensive v. Affordable ZIPs website? thanks for your help
@dotjai330
3 жыл бұрын
Job growth in Vegas? Not going to happen. Property values may be high now, but wait until the city is overwhelmed with people who can't find a job. POP Goes the economy
@kennyadvocat
3 жыл бұрын
=(
@rockysahota1
3 жыл бұрын
That figure is relevant for most major city’s in the market crash from 06-2012. If you showed figures for San Francisco, LA, and a lot of other major city’s. Vegas market didn’t take a major hit compared to the general real estate market during that period. ALL REAL ESTATE WAS DOWN 50-60% around the US
@ReventureConsulting
3 жыл бұрын
Thanks for the comment Rocky! Here are 2007-12 price declines for several cities based on data from Zillow: Vegas: -61% Phoenix: - 50% Los Angeles: -37% Seattle: -34% San Fran: -32% To your point - West Coast / Southwest got hammered. Lower priced Rust Belt markets like Pittsburgh and Buffalo actually performed the best. I'll be talking about these previous declines in my video posting today so make sure to take a look!
@fredericknewman5398
3 жыл бұрын
I'm looking to buy in Vegas, but it's hard to buy a townhouse for $225 when the price history shows it sold for $50k in 2012. So he's dead on.
@ulovemichelle
3 жыл бұрын
@@fredericknewman5398 same if I can stop looking at the prices everyone else paid years back I can get a move on and make a good offer🤧it pisses me off knowing I’m paying for an older home much more than someone else previously paid who enjoyed a “younger house” ugh 😩
@lynnh1935
3 жыл бұрын
How would you expect the vegas luxury market to be impacted by the coming bubble burst - more or less than the average market? The luxury market is largely driven by California tax refugees.
@ReventureConsulting
3 жыл бұрын
To be honest I'm not a huge fan of Vegas right now. Mega job losses combined with California demand that could dry up quickly if the environment in CA gets better.
@lynnh1935
3 жыл бұрын
@@ReventureConsulting Thank you. I agree with you.
@bachelorliving123
3 жыл бұрын
"Right?"
@taglishteacher3600
3 жыл бұрын
We are looking into purchasing a small condo unit in Vegas for investment. Only about 200,000 max. It is May 2021 right now and I worry about the rental market there. Any updates?
@ReventureConsulting
3 жыл бұрын
Strangely the rental market in Vegas has been performing well over the last year, even with all the job losses. Curious to see what happens when the eviction moratorium gets lifted.
@KaoriLuxuryRealEstate
3 жыл бұрын
I am a local Las Vegas realtor and I have qualified renters who cannot find rental properties. We have a very low inventory. Contact me if I can help!
@SIGNALFREQ
3 жыл бұрын
The millennials are screwed 😭
@marthacaldera5865
3 жыл бұрын
When will Las Vegas homemarket go down? Will all of the peope who lost their job and their foreclose property make the home market better or worse?
@iDigress77times
3 жыл бұрын
Do Fresno, California
@edenmogesepayne5614
3 жыл бұрын
Thank you for the amazing video!!! Currently looking to buy but the market is extremely overpriced!!!
@ReventureConsulting
3 жыл бұрын
Thanks for the comment Eden!
@joe-zj8js
3 жыл бұрын
Yeah im trying to buy and make a good living but it's crazy what's going on here. Ppl paying 50k over market, waiving home inspections. Just plain stupid. I work in the trades and see people sell their homes instead of fixing/ maintaing them. All the people coming from out of state having no idea about our hard water and what it does. These people are gonna be in for a rude awakening when they have srs repairs after buying an over priced house.
@KaoriLuxuryRealEstate
3 жыл бұрын
Hi Eden, I'm a local realtor in Las Vegas and we are seeing more inventory coming in month over month and price adjustments. I create videos on Las Vegas lifestyle and home buying tips, check it out!
@KaoriLuxuryRealEstate
3 жыл бұрын
@@joe-zj8js Hi Joe, I am a local Las Vegas realtor! If I can ever help, please let me know. I create lifestyle and home buying tips on my channel.
@tarody3953
3 жыл бұрын
Great content! Vegas is very water limited, I think that's going to negativity impact prices there long term.
@ReventureConsulting
3 жыл бұрын
That’s a good point! Hopefully Lake Mead can hold its supply.
@RickDuggan
3 жыл бұрын
Most of the water in Lake Mead goes to California and Arizona. Twice as much water (600,000 acre feet) evaporates from Lake Mead in a year than Las Vegas uses (300,000 acre feet). And we return everything that goes down a drain back to the lake. We're not the ones lowering the level!
@KaoriLuxuryRealEstate
3 жыл бұрын
I'm a Las Vegas realtor and I have buyers ask me that all the time, but we have plenty of water!
@stream493
3 жыл бұрын
Very informative video! i like your data driven analysis approach. keep up with the good work! Where do you get the permit data? i'd like to see them for my local. thank you!
@ReventureConsulting
3 жыл бұрын
Thanks for the kind words! Permit data comes from the US Census Bureau. www.census.gov/construction/bps/
@KaoriLuxuryRealEstate
3 жыл бұрын
I agree!
@sthiel1917
3 жыл бұрын
I live in Henderson and am watching inventory each week. Trying to determine when to sell, as I got stuck in the 2008 crash ---don't want it to happen again...any thoughts on time frame for California buyers and cash investors no longer coming to this market? that is when the slow down will occur..
@ReventureConsulting
3 жыл бұрын
Great question! Pay attention to home prices in California and the stock prices of tech companies. Could be a leading indicator of what happens in a place like Vegas.
@deborahd.6228
3 жыл бұрын
Northern Nevada/Washoe County etc. is often ignored, but it's 'on fire' as of this writing! Will you create a video about it too? Thanks!
@sthiel1917
3 жыл бұрын
@@ReventureConsulting If there is a California correction and tumble of tech company stock prices, would there be some lag time there to have time to sell here?
@sthiel1917
3 жыл бұрын
also, did you do a value price ratio for Vegas? not sure if wages will support the market in a few years..
@KaoriLuxuryRealEstate
3 жыл бұрын
I am a Las Vegas realtor and we are already seeing price decrease and less multiple offer situations. If you are interested in selling, you need to do it now!
@gu6850
3 жыл бұрын
Hello.. vegas population was below 2 million back then . It’s over 2 million now.. you need to make more sense in your story. More people here are moving to live here. There were a lot of bad loans back then. You don’t even mentioned that. If u don’t live here .. you are not aware of what’s even going on. Your technical analysis does not warrant the current change of Vegas now . Do more homework.
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