January 9, 2025 • 29 mins
Could the shifting tides of the Las Vegas real estate market impact your next big move? Discover the fascinating dynamics behind December 2024's record-breaking median home prices, even in the face of high interest rates and a softening market. We unravel the reasons behind over 25,000 realtors exiting the National Association of Realtors and contemplate the ripple effects on the real estate industry as we step into 2025. Join us as we extend our thoughts and prayers to those affected by the California fires and explore the influence of the Federal Reserve's decisions and stock market trends on rising mortgage rates.<br><br>Are you weighing the options between a single-family home and a condo? Our discussion spotlights the motivations and preferences of buyers in today's challenging market. While entry-level single-family homes are in high demand, we explore the allure of townhomes and high-rise condos, ideal for those craving a hassle-free lifestyle or a luxurious second home. Evaluate the incentives builders are offering for new constructions and get a glimpse into the price ranges that might fit your budget, from high-rise condos with extensive amenities to more affordable townhome options.<br><br>Navigating the real estate market as a first-time buyer or a move-up buyer? We tackle the hurdles posed by high interest rates and limited down payment assistance, shedding light on programs like Home is Possible and Chinoa. Understand the complexities and potential pitfalls of these assistance options, including restrictions on refinancing and financial implications. By sharing a realistic view of the benefits and drawbacks, we aim to empower you with the knowledge to make informed real estate decisions. Engage with us for insights and guidance tailored to your home buying journey.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Welcome to Vegas Realty.
Check your go-to podcast forall things Las Vegas real estate
.
Whether you're buying, sellingor investing, we bring you the
latest market trends, insidertips and expert insights to
navigate the ever-changing LasVegas realty landscape.
Tune in each week as we breakdown the data, answer your
questions and help you make thebest real estate decisions in
(00:22):
the entertainment capital of theworld.
Speaker 2 (00:27):
Hey, las Vegas.
Thanks for joining us back hereon Vegas Realty Check.
I am your host, trish Williams,and I am Courtney, your co-host
.
Yes, and thank you for joiningthe show.
We're on the second week of themonth, so today is our market
numbers, where we review overeverything that happened in
December.
So, before we start the show, Ido want to send just thoughts
(00:51):
and prayers for this horrificfires that are going on in
California, and so I have somefriends out there and they've
been relocated or they've had toevacuate, so it's really scary
what's happening over there, andour thoughts and prayers are
with you guys.
So, yeah, it's terrible.
(01:13):
So we have a little bit, or justone headline, of news to open
with.
That was kind of what we weretalking about last week about
the people or the agents orbrokerages that are leaving NAR,
and we're starting to see thatkind of play out in our world.
(01:35):
Now.
There was a news headline thatcame out this last week and it
said that over 25,000 realtorshave left NAR in December.
So that was December of 2024.
And this is getting real outthere.
That's a lot, a lot of people.
(01:56):
That is a lot of people.
I mean, nar is huge, it'snationwide, but that is
definitely a big amount ofpeople that are that are getting
out of it.
So we are going to see that asit progresses and I'm sure we'll
be talking about that throughthe year here in 2025.
As for this week, we can openup with our market numbers for
(02:19):
the week absolutely so.
Speaker 3 (02:21):
Single-family residences on the market today
are 4,943.
Okay.
Speaker 2 (02:27):
So inventory has raised by 149.
So we went up slightly Condosand townhouses on the market.
Those are up by 40 units at1743.
So that is a good sign.
Yes, we're getting some moreinventory Not too much so far
and we're starting to see justlike a little bit of signs of
(02:50):
things warming up here.
It's very minimal, it stillhasn't picked up a lot, but
we're just in the early days ofJanuary.
I think things are going to begetting better as we get through
the month.
Absolutely, and there was 925new listings Yep and that was at
474 from the week before, butthe week before was the holidays
, so not many people will post anew listing during the holidays
(03:13):
, so that definitely makes sense.
Price decreases A lot of peoplehave been adjusting their
prices, so we're at 650 for theweek of price decreases and that
was up 311 from the week beforeand we have 516 under contract,
so people were still busy.
Yes, 516 is a good number andthat was up 81 from the week
(03:37):
before.
So again, if that's you knowfive, if we start averaging 500
a week that's about 2000 a monthin sales and that's still good,
good, healthy number.
I say it a million times 3,000is my favorite, but 2,000 is
pretty good too.
Speaker 3 (03:54):
You'll take it, I'll take 2,000.
And 352 were sold, which isdown 89 from last week.
Speaker 2 (04:01):
Yeah, so sold numbers are down, but we did.
We had a couple weeks.
Yeah, so sold numbers are down,but we did.
We had a couple of weeks ofholidays, so not a lot happened
during that time.
So solds usually take about 30days before they, you know, post
and reflect, so nothing out ofthe ordinary.
Numbers look pretty good, good,yeah.
Um, before we get into Decembernumbers, there's a couple notes
(04:22):
that I wanted to make on whathappened in December, just like
a couple of side notes orcomments.
December of 2024 was thehighest median price in all of
history in Las Vegas.
That's crazy, yeah, so eventhough our market had softened,
our sales have softened andrates are not pretty.
(04:45):
We definitely had the highestmedian price in all of history
in December in Las Vegas.
And where are rates this week?
Since we're talking aboutweekly stats, so let's talk
about that.
Speaker 3 (04:58):
So you know, I always like to say either way, it's
always best to buy right.
There's so much value in that,building equity and things.
Today's rates, as far as today,were not great.
There's been, you know, somethings going on as far as the
stock market's actually beendoing really well.
So typically when that happenspeople don't buy bonds and not
(05:19):
to go down the rabbit hole, butusually that makes the rates go
up a tad.
So right now, as of today, we'reseeing on a 30-year
conventional at a 7.2.
That's a national average.
On your FHA and VA, we'relooking right at about a 6.5.
So our conventional 30 years.
It did go up the last few days,but this is the highest it's
(05:41):
been since June, so that's notto say that it won't start
trending down.
We've had conversations,obviously, about what our hopes
are for 2025.
And statistically, based on alot of different factors, we're
hoping to get into the low sixesby the end of the year.
Fingers crossed, but that'swhere we are as of today.
So the rates did go up a decentamount the last couple of days.
Speaker 2 (06:03):
So a couple of questions.
Are the feds going to bemeeting soon and it seems like
their adjustments just reallyaren't reflecting in mortgage
rates.
So I was at a spot where it waslike I hope the fed meets and I
hope they drop the rate.
And you know, and they did.
They did it three or four timesbut nothing happened.
Speaker 3 (06:22):
So we'll see what happens with the new presidency
Once they meet.
We just, you know, there's nocrystal ball to let us know.
Obviously they came down a tadlast year and then they came
back up, not as high as theywere at one point, but every
time they meet, based on youknow, there's been a lot of
changes.
President.
A new president being in officeagain is the biggest change.
So we'll see when they meetwhat happens.
(06:44):
But statistically, when thestocks are doing really well,
the rates tend to go up a tad,just because people aren't
buying in the bond market.
Speaker 2 (06:52):
Yeah, absolutely.
Do you think that all the stuffthat's happening right now in
California with these wildfiresand everything?
I've had a couple of people say, how's this going to affect
housing?
And I don't really know, Do youlike, do you see that like
playing out in housing anywhere?
I mean, I'm sure it's going toaffect insurance, which does
(07:12):
affect housing, but I don't knowif the fires specifically are
going to have an effect.
Speaker 3 (07:18):
From somewhat of an experience.
A lot of clients have movedfrom California to here and so
you know that, especially withinthe last few months, what I've
seen is a ton of people fromCalifornia coming because the
fire insurance has gotten soexpensive.
We had a client from Lagunawho's lived there for 20 years.
Their fire insurance went up to$20,000 a year.
(07:40):
So at that point, when you havepeople who have money moving
here, obviously we know what itdoes to the values.
Now, what it's going to do tothe rates, we don't know, but
the values aren't coming down.
So we obviously don't have aton of control over the rates,
but I guess we're going to see.
I think it's going to increasethe home values even more than
(08:01):
more people that are moving herefrom California.
Oh yeah, absolutely.
Speaker 2 (08:04):
And that's always.
It's been a driver in our marketfor the last few years because,
Californians have been comingout here for multiple different
types of reasons and this floodof people coming specifically
from California and I know somepeople say like that's so, you
know, like it's just they thinkit's a joke but it's absolutely
fact that there is this flood ofpeople that have been moving
(08:27):
here and that has definitelyhelped move our housing market
up and help move those medianprice ranges up, absolutely.
Yeah, september of 2024, I knowwe're talking about December
numbers, but this was just aside note that I had In
September 2024, it was thelowest number of closing in 17
(08:49):
years.
I think I may have mentionedthat on the show before, but as
I was just reflecting over thecharts and numbers, again,
that's still something to keepin mind.
Even though we have the highestmedian price in December,
september was lowest number ofclosing in 17 years.
That's a lot.
So that didn't have any effecton that price, though that
(09:12):
median price still held verysteady regardless.
And then we have some stats toget into for the month of
December, but just quick notesas we're looking at those stats
for the month of December, butjust quick notes as we're
looking at those stats.
The vacant homes the homes thatwere sold that were vacant were
definitely on the higher tookthe higher number there Almost
(09:35):
60%, almost 60%.
Yeah, so that's showing if youdo have a house on the market, a
vacant home is looking moreattractive.
They're selling at a higherrate right now, um, because,
probably because there's there'sinventory to choose from and
people are just choosing thevacant, they can kind of see the
layout a little bit better.
(09:55):
And, um, sometimes we havechallenges when homes are
occupied.
Speaker 3 (09:59):
Absolutely.
And then 99% were, uh,non-owner occupied, were sold
yeah.
Speaker 2 (10:08):
So that is 99.2% of the homes that were on the
market that were non-owneroccupied sold.
So that is definitely those areselling at a way stronger rate
than the homes that are occupied, absolutely.
So yeah, let's get into thesemarket numbers for the month of
(10:30):
December.
Speaker 3 (10:37):
So under single family units we have 1,811 units
sold.
Speaker 2 (10:42):
Yep and the median price range of those units was
$475,000.
That was the median sold priceof the units sold, which came
down.
Speaker 3 (10:53):
I think we were closer to right around $500,000,
weren't we.
Speaker 2 (10:57):
The median list price is still.
It's $499,978.
So it's showing that they're upfrom the month prior.
So, yeah, I do think that wehad a period in the last year or
so where it did hit over 500,but that was probably the list
(11:17):
price versus sell price.
Speaker 3 (11:18):
Yeah, absolutely.
And as far as new listings, wedo have 1,754 as of December,
which was up 16.9%.
Speaker 2 (11:29):
Yeah, yeah, definitely.
A lot of new listings hit themarket and the median price of
the new listings was $499,978.
And that brought it to aneffective availability of 2.7
months, which is almost threemonths.
I think we hit three months.
Maybe it was September, we hitthree months, so we're still
(11:51):
very close to that.
Condos and townhomes the unitssold for those were at $4.66.
Which?
Speaker 3 (12:01):
is up a little bit.
Speaker 2 (12:02):
Yeah, not much, but 0.5%.
Speaker 3 (12:05):
And the median price was right around $290.
Speaker 2 (12:08):
Yeah, and that's up too.
And then new listings they wereat $608.
Those were up 21%.
It's a lot.
Yeah, it is a lot.
And then median price range ofthe sold.
We don't see this often wherethe median price range of the
sold listings is lower than themedian price or is higher than
(12:29):
the median price range of the.
Oh, I'm sorry I switched thosenumbers.
The median price range of thenew listings is higher.
Okay, never mind, that was a,that was a.
Can I say a blonde moment, isthat okay?
Okay, so units sold was at 290for the median range and the
(12:51):
median price range of the newlistings is at 299,950.
Speaker 3 (12:55):
And there's an average of effective
availability of about 3.8 months, which is up a lot.
Speaker 2 (13:00):
That is up a lot and that was that, uh, 54%.
So those condos and townhomesare selling a lot slower than
the single family Is there fromon your end very specific
reasons why.
Um, I think it's because there'sso many, um, so much motivation
in sellers right now in thesingle family market that, um,
(13:21):
that they're you know, they'retaking deals, they're dropping
prices, they're, you know, doingdoing a little more things to
get buyers in there and thecondos and townhomes, just you
know it's.
It's just looking at it from abuyer.
If you could own a singlefamily house and you don't have
to get in a condo or townhomeand the price is similar, then
they'd rather go into an entrylevel home than to get into a
(13:44):
condo or townhome.
Speaker 3 (13:45):
Do you find that a lot of the single family homes,
as far as new construction, areoffering better incentives for
that?
Speaker 2 (13:50):
New construction is offering really good incentives,
but it would be impossible toget into a single family home.
New construction in the$300,000 range and even for
homes when you're into a singlefamily home, new construction in
the 300,000 range.
Um, there are, and even forhomes, when you're looking at
single family homes, when you'relooking in that 300,000 range
and, let's be honest, it'sprobably more like 350, 370.
(14:11):
So it's still going to be a lot, a little bit higher than those
condos and townhomes are goingto be, but, um, those are
definitely entry-level homes.
Those are like your um they'regoing to be, but, um, those are
definitely entry-level homes.
Those are like, um, they'regoing to be a cookie cutter of
some sort, you know, and usuallyjust a one car garage and it's
going to be a lot smaller home,but it is detached and some
(14:31):
people see that factor is ofdetached is just like such a you
know, strong um, strong factorno, no shared walls inside the
house.
So, um, but yeah, definitelythose are not going to be your.
You know large lots withprivacy and things like that.
It's going to be a very entrylevel home, yeah.
(14:51):
Yeah, if you're looking forlike I would say, like your
average, 22 to 2,500 square foothome with a decent sized lot um
, you know three or morebedrooms, you're probably still
in the 500 range.
Speaker 3 (15:06):
Yeah.
Speaker 2 (15:07):
Yeah, or above again.
There's there's factors.
There's differences, for sure.
Yeah, there's a lot of factorsout there.
What's the?
Speaker 3 (15:15):
minimal price point you're seeing for like a
standard very basic cookiecutter new build.
Speaker 2 (15:20):
Um, new build.
Uh, so, single family, I wouldI would say still around 500
minimum.
Townhome um townhome brand new?
Um, probably if, if we're doingcon like, they have condos that
are basically townhomes now,but they're still condos and I
don't I there.
There used to be a bigdefinition between what was a
(15:43):
condo and what was a townhomeand now they're basically the
same thing, especially with whatthey're building these days.
So I'm seeing that entry-levelprice.
I think the lowest that I'veseen so far on a condo townhome
brand new was in the $340,000,$350,000 range and then they go
up from there.
(16:03):
It is very common now to seebrand new townhomes or condos
that are in the $400,000 range.
They have a lot of amenities,they have a lot added and
they're beautiful and they'rebig, they're larger than we used
to see them in the past, butthose prices are getting up
there.
Speaker 3 (16:19):
There's some really beautiful ones too, like in
Summerlin, those townhomes, yeah.
Speaker 2 (16:23):
Oh yeah, and then there's luxury townhomes of
course.
So there's those, thosedefinitely go a lot higher.
And then when we're talkinglike high rises, high rises is
another um, another Avenue thatthat we have out there, uh, uh,
and they exist, um, there's,it's quite plentiful.
Here in the Valley we havethese high-rise communities and
(16:44):
those can vary.
I mean, they can start anywhere.
I've seen them as low as like250 starting, and they get to
the multi-millions Absolutely.
And some of them are just big,beautiful, I mean the large
square footage, everything.
So there's a lot of variantsthere.
But what we typically see inhigh-rise is even in the lower
(17:07):
end, where you're getting inlike 250, so 250, 300 would
probably just get you a studiowhich is kind of like a studio
apartment or, to me, like ahotel room.
Speaker 3 (17:17):
Yeah, I mean literally.
We've done loans on those likecondo tells, and they're 500
square feet, maybe, if that.
Speaker 2 (17:23):
Yeah, and their HOAs, even though their prices are so
low, because some people arelike, oh wow, it's a good price.
I'm going to do that.
Hoas are usually high.
Um, I would say minimum I'veseen is 500 and that is
definitely the low end when itcomes to those like condo tells
and high rises and things likethat.
(17:43):
So, um, those are.
It's not always the sell price,it's the HOA as well, because
that HOA, even though itincludes a lot of amenities, I
was going to say the amenitiesare incredible, but the
amenities are incredible.
But, um, it's an option,because some people don't want,
you know, they don't want themaintenance.
They want to live this like, um, you know, just kind of I see
(18:05):
it as like a bachelor lifestyleor whatnot.
You know just this you're um,you know it's like you're.
It's like you're living in ahotel all the time, but you have
concierge service, you haveaccess to, like you know,
clubhouses, cabanas out by thepool.
You have everything that youneed without the maintenance and
upkeep of keeping up a home.
Speaker 3 (18:24):
I think it's great too If it's like a second home.
You can just come here, youdon't have to worry about the
lawn and the pool and all ofthese other things.
So I think a lot of people usethose condo tells or condos high
rises as second properties.
Speaker 2 (18:35):
Yeah as second homes and also there's a lot of
projects here in the Valley thatallow you to.
You know we have very strictAirbnb rules.
(18:59):
Palms is one of them.
That, um, that whole tower isalready approved for short-term
rentals, so you don't have toget a separate license for
Airbnb.
You're already kind of in itand you can do the short-term
rental programs.
You can do that there, um, sosome people that want to have
that short-term rental and alsohave a vacation home but rent it
(19:20):
out when they're not using it,that's a great option.
Speaker 3 (19:23):
It's a lot of money coming in too, because people
are always renting yeah.
Speaker 2 (19:27):
I I seen the net and it was a.
It was on a palms, um, and Ithink gosh, I think our our
price on that was two, 80, um,you know two, 80 and maybe like
a five $600 HOA, you know so not.
You know.
$280 and maybe like a $500,$600 HOA, you know so not.
You know.
It just wasn't too bad, but therevenue that it was bringing in
looked amazing amazing for thatprice.
(19:48):
So definitely it's an avenue.
It's an avenue to talk about.
If it's something you're notthinking about and you're
looking for that investmentslash vacation home, it's an
avenue to consider.
Investment slash vacation home,it's an avenue to consider.
So let's talk time on themarket Days on the market for a
(20:13):
unit sold.
This is over on that.
Okay, you're there.
Okay.
So under 30 days.
So homes that have sold overunder 30 days.
That was half of the homes onthe market Sitting right at
about 50%.
Yeah, 50%, and those sold 30days or less, where we usually
have a lot higher number of that30 days.
Speaker 3 (20:28):
I think at one point you couldn't find a house.
So I mean, literally peoplewere, you know, giving $50,000
over asking.
So I mean I think things aremoving a little bit slower.
Speaker 2 (20:39):
Obviously, december is a different ballgame with the
holidays, but yeah yeah, that'sa pretty low number than we're
used to seeing here in Vegas andsome people that have sold
homes in the past and areselling homes right now have a
struggle with that becausethey're used to, you know it's
instant.
It's that instant gratification.
They're used to like the homeslisted.
(20:59):
Now we have offers within acouple of days and they're like
kind of panicking.
But in the grand scheme ofthings, really in most markets
that are not Vegas, a hometaking over 30 days to sell is
not out of the ordinary.
Speaker 3 (21:17):
No, I think everything was just moving so
quickly at one point, and Ithink that's where you start
seeing some of those pricedecreases coming into, based on
how quick they need to move.
Speaker 2 (21:27):
Yes, absolutely, motivation does make a
difference.
I had a seller that the housewas on the market for.
Oh, it was killing me, like youknow.
A few months I'm just like, ah,what's going on here?
And you know that happens.
This market this last year hasbeen challenging.
It does happen where it wasdefinitely out of the ordinary
(21:50):
in the past.
It is happening now and youknow it's just really.
You know it's a lot of stress,but then you know, even after
all of that, an offer came in.
It's a lot of stress, but then,even after all of that, an
offer came in.
So we just have to kind ofstick it out.
Continue the marketing, staywith it.
Be a tad bit more patient.
Be a tad bit more patient,Adjust as necessary.
(22:11):
And definitely it's a price warin a beauty contest.
You have to make sure the homeis looking its absolute best and
that you are priced bestamongst all the competition.
And that's really what it takesin this market.
Speaker 3 (22:25):
And if the house isn't as great looking.
You know there's especially ifit's priced really right there
are a lot of people who will buyit and fix it up and sell it.
So, yeah, I think you can't winthem all.
It either has to look good andyou can sell, or get more of
what you want, or take the pricedown.
Yeah, definitely, and 31 to 60days.
We're sitting right at a 24.4%.
Speaker 2 (22:46):
Yeah, so definitely a higher number in that 31 to 60
days market.
And then this 90 days number.
We usually see that pretty lowand I think 12, it's a 12.3%,
which I think is high for a90-day number.
That is high.
Yeah, so that's 60 to 90 daysOver 120 days.
We're at 5.8% and numbers evenhigher in the 121, up to 121 and
(23:13):
beyond days is we're at 7.4.
Yeah, so definitely we'retaking a little bit longer to
move these properties, but we dohave hope for January.
I do think that things aregoing to pick up and we're going
to be able to get out of thatstaleness that we had.
Speaker 3 (23:34):
I do as well.
Speaker 2 (23:35):
This is the season, usually tax season, Don't you do
?
You guys end up getting a lotof like new loan applications
and things like that.
Speaker 3 (23:42):
I think some people are waiting for, you know, to
get a refund on their taxes andthey have a plan of getting a
little bit more money put intotheir pocket.
So we typically do, and I thinkI think last year there was a
lot of uproar with elections andall of that, so this year I
think everything's a lot moresettled.
I do think the first quarter isgoing to be really, really good
(24:03):
.
I think there's going to be alot of movement and I think you
know I think things are going tostart going downward as far as
rates.
Speaker 2 (24:22):
I do think that's going to happen.
Yeah, we really need that tohappen.
Right now we're in anenvironment where I guess the
move up buyers aren't reallystruggling as much, because they
have their equity.
Speaker 1 (24:29):
they have their down payment.
Speaker 2 (24:30):
They have things to buy the rate down different,
different options there wherethe rates are not pretty but
still it can make it doable.
But those entry level buyersare having such a hard time.
Yeah, it's rough, yeah, yeah,that it is definitely a
challenge out there.
So that is we.
(24:50):
We have to get more of thoseentry-level buyers into homes or
make it possible for them to beable to get into homes.
We used to have a lot ofdifferent assistance programs
and things like that here in theValley.
It was like for a while it feltlike there was a different
program every year, but Ihaven't heard of really anything
(25:11):
except for Home is Possiblelately.
Speaker 3 (25:13):
Yeah, and I'm going to go into detail on all of
those down payment assistanceprograms in other episodes and
each one I'll break down.
The standard ones are like Homeis Possible, Chinoa.
We use some of the same, but Ithink at that point when we're
trying to get someone into a newhome, typically a lot of times
(25:36):
it can be finances that can bethe issue.
So it's really looking at, youknow, when we go with one of
those options where the rategoes to and if it's affordable.
Speaker 2 (25:45):
Yeah, because the rates are so much higher.
Speaker 3 (25:47):
on those programs.
They are higher, and so, youknow, I think there's a lot of
pluses to it, but I also think,of course and so you know, I
think there's a lot of pluses toit, but I also think, of course
, there's also things that comewith that.
So our goal is really to try tomake it doable and affordable
for someone to get into a homeand do what we can to make it
possible, but the payment has tobe doable.
Speaker 2 (26:03):
Has to be affordable and I think the struggle that
most people have are when peopleask me about down payment
assistance and what programs areavailable right now, which is,
like you said, Home is Possible,Chinoa, things like that.
The struggle is not just thatthe rate is higher, but that
there's a time frame of how longit is before you can refinance
(26:26):
Correct.
On a typical loan, you do sixpayments and you can refinance.
Speaker 3 (26:31):
So we're going to go over that too, and I go in depth
on each program because therehas been some caveats.
A lot of them were three yearsor you if you refinance out of
it before three years, youactually have to pay back the
interest.
Speaker 2 (26:43):
Yeah, yeah.
So there's definitely some somechallenges there with the rates
being higher, because if ratescome down and you're stuck in
this like three year period orthis I want to say penalty
period, right Cause that's kindof what it is If you're stuck in
that period, you can'trefinance right away and you
can't lower that rate if theopportunity comes.
(27:06):
So that's why a lot of peopleare just opting not to use those
programs.
Or it has to be paid back, yeah, or it has to be paid back.
Speaker 3 (27:11):
So, as much as you know we want to do what we can,
we also want to be realistic onon what that looks like for a
buyer and make sure that theyknow, you know, the good and and
somewhat of some of thechallenges that come with those
programs.
Speaker 2 (27:24):
Yeah, yeah, absolutely.
And, courtney, if somebodywants to talk to you about
different loan options, how toget some money to buy a house-
how do they get a hold of you?
Speaker 3 (27:34):
You can get a hold of me and get some money at
702-416-6918.
Speaker 2 (27:40):
All right, thank you.
If you guys need to help findthat house, once you get the
money from Courtney, you cangive me a call at 702-308-2878.
If you are watching our show,please continue to follow us
like, share, subscribe, tellyour friends, check out all of
our links to connect with useverywhere at
(28:02):
wwwrealtycheckvegas and that'swhere you can find everything
about us.
And we do want to give a shoutout to our new marketing partner
, which is Chicago Title.
You see them there on thescreen.
They do title and escrow herein the Valley and they're a very
(28:23):
reputable and great company towork with.
So we have some partners therethat can help you if you are
looking into title informationor when you purchase a home
opening escrow.
All of that good stuff, all thefun stuff, all the fun stuff.
So thanks, guys, and we willsee you next week on our show.
(28:43):
And thanks for tuning in.
Have a great week.
Bye, thank you.
Welcome to Vegas Realty.
Check your go-to podcast forall things Las Vegas real estate
.
Whether you're buying, sellingor investing, we bring you the
latest market trends, insidertips and expert insights to
navigate the ever-changing LasVegas realty landscape.
Tune in each week as we breakdown the data, answer your
questions and help you make thebest real estate decisions in
(00:22):
the entertainment capital of theworld.
Speaker 2 (00:27):
Hey, las Vegas.
Thanks for joining us back hereon Vegas Realty Check.
I am your host, trish Williams,and I am Courtney, your co-host
.
Yes, and thank you for joiningthe show.
We're on the second week of themonth, so today is our market
numbers, where we review overeverything that happened in
December.
So, before we start the show, Ido want to send just thoughts
(00:51):
and prayers for this horrificfires that are going on in
California, and so I have somefriends out there and they've
been relocated or they've had toevacuate, so it's really scary
what's happening over there, andour thoughts and prayers are
with you guys.
So, yeah, it's terrible.
(01:13):
So we have a little bit, or justone headline, of news to open
with.
That was kind of what we weretalking about last week about
the people or the agents orbrokerages that are leaving NAR,
and we're starting to see thatkind of play out in our world.
(01:35):
Now.
There was a news headline thatcame out this last week and it
said that over 25,000 realtorshave left NAR in December.
So that was December of 2024.
And this is getting real outthere.
That's a lot, a lot of people.
(01:56):
That is a lot of people.
I mean, nar is huge, it'snationwide, but that is
definitely a big amount ofpeople that are that are getting
out of it.
So we are going to see that asit progresses and I'm sure we'll
be talking about that throughthe year here in 2025.
As for this week, we can openup with our market numbers for
(02:19):
the week absolutely so.
Speaker 3 (02:21):
Single-family residences on the market today
are 4,943.
Okay.
Speaker 2 (02:27):
So inventory has raised by 149.
So we went up slightly Condosand townhouses on the market.
Those are up by 40 units at1743.
So that is a good sign.
Yes, we're getting some moreinventory Not too much so far
and we're starting to see justlike a little bit of signs of
(02:50):
things warming up here.
It's very minimal, it stillhasn't picked up a lot, but
we're just in the early days ofJanuary.
I think things are going to begetting better as we get through
the month.
Absolutely, and there was 925new listings Yep and that was at
474 from the week before, butthe week before was the holidays
, so not many people will post anew listing during the holidays
(03:13):
, so that definitely makes sense.
Price decreases A lot of peoplehave been adjusting their
prices, so we're at 650 for theweek of price decreases and that
was up 311 from the week beforeand we have 516 under contract,
so people were still busy.
Yes, 516 is a good number andthat was up 81 from the week
(03:37):
before.
So again, if that's you knowfive, if we start averaging 500
a week that's about 2000 a monthin sales and that's still good,
good, healthy number.
I say it a million times 3,000is my favorite, but 2,000 is
pretty good too.
Speaker 3 (03:54):
You'll take it, I'll take 2,000.
And 352 were sold, which isdown 89 from last week.
Speaker 2 (04:01):
Yeah, so sold numbers are down, but we did.
We had a couple weeks.
Yeah, so sold numbers are down,but we did.
We had a couple of weeks ofholidays, so not a lot happened
during that time.
So solds usually take about 30days before they, you know, post
and reflect, so nothing out ofthe ordinary.
Numbers look pretty good, good,yeah.
Um, before we get into Decembernumbers, there's a couple notes
(04:22):
that I wanted to make on whathappened in December, just like
a couple of side notes orcomments.
December of 2024 was thehighest median price in all of
history in Las Vegas.
That's crazy, yeah, so eventhough our market had softened,
our sales have softened andrates are not pretty.
(04:45):
We definitely had the highestmedian price in all of history
in December in Las Vegas.
And where are rates this week?
Since we're talking aboutweekly stats, so let's talk
about that.
Speaker 3 (04:58):
So you know, I always like to say either way, it's
always best to buy right.
There's so much value in that,building equity and things.
Today's rates, as far as today,were not great.
There's been, you know, somethings going on as far as the
stock market's actually beendoing really well.
So typically when that happenspeople don't buy bonds and not
(05:19):
to go down the rabbit hole, butusually that makes the rates go
up a tad.
So right now, as of today, we'reseeing on a 30-year
conventional at a 7.2.
That's a national average.
On your FHA and VA, we'relooking right at about a 6.5.
So our conventional 30 years.
It did go up the last few days,but this is the highest it's
(05:41):
been since June, so that's notto say that it won't start
trending down.
We've had conversations,obviously, about what our hopes
are for 2025.
And statistically, based on alot of different factors, we're
hoping to get into the low sixesby the end of the year.
Fingers crossed, but that'swhere we are as of today.
So the rates did go up a decentamount the last couple of days.
Speaker 2 (06:03):
So a couple of questions.
Are the feds going to bemeeting soon and it seems like
their adjustments just reallyaren't reflecting in mortgage
rates.
So I was at a spot where it waslike I hope the fed meets and I
hope they drop the rate.
And you know, and they did.
They did it three or four timesbut nothing happened.
Speaker 3 (06:22):
So we'll see what happens with the new presidency
Once they meet.
We just, you know, there's nocrystal ball to let us know.
Obviously they came down a tadlast year and then they came
back up, not as high as theywere at one point, but every
time they meet, based on youknow, there's been a lot of
changes.
President.
A new president being in officeagain is the biggest change.
So we'll see when they meetwhat happens.
(06:44):
But statistically, when thestocks are doing really well,
the rates tend to go up a tad,just because people aren't
buying in the bond market.
Speaker 2 (06:52):
Yeah, absolutely.
Do you think that all the stuffthat's happening right now in
California with these wildfiresand everything?
I've had a couple of people say, how's this going to affect
housing?
And I don't really know, Do youlike, do you see that like
playing out in housing anywhere?
I mean, I'm sure it's going toaffect insurance, which does
(07:12):
affect housing, but I don't knowif the fires specifically are
going to have an effect.
Speaker 3 (07:18):
From somewhat of an experience.
A lot of clients have movedfrom California to here and so
you know that, especially withinthe last few months, what I've
seen is a ton of people fromCalifornia coming because the
fire insurance has gotten soexpensive.
We had a client from Lagunawho's lived there for 20 years.
Their fire insurance went up to$20,000 a year.
(07:40):
So at that point, when you havepeople who have money moving
here, obviously we know what itdoes to the values.
Now, what it's going to do tothe rates, we don't know, but
the values aren't coming down.
So we obviously don't have aton of control over the rates,
but I guess we're going to see.
I think it's going to increasethe home values even more than
(08:01):
more people that are moving herefrom California.
Oh yeah, absolutely.
Speaker 2 (08:04):
And that's always.
It's been a driver in our marketfor the last few years because,
Californians have been comingout here for multiple different
types of reasons and this floodof people coming specifically
from California and I know somepeople say like that's so, you
know, like it's just they thinkit's a joke but it's absolutely
fact that there is this flood ofpeople that have been moving
(08:27):
here and that has definitelyhelped move our housing market
up and help move those medianprice ranges up, absolutely.
Yeah, september of 2024, I knowwe're talking about December
numbers, but this was just aside note that I had In
September 2024, it was thelowest number of closing in 17
(08:49):
years.
I think I may have mentionedthat on the show before, but as
I was just reflecting over thecharts and numbers, again,
that's still something to keepin mind.
Even though we have the highestmedian price in December,
september was lowest number ofclosing in 17 years.
That's a lot.
So that didn't have any effecton that price, though that
(09:12):
median price still held verysteady regardless.
And then we have some stats toget into for the month of
December, but just quick notesas we're looking at those stats
for the month of December, butjust quick notes as we're
looking at those stats.
The vacant homes the homes thatwere sold that were vacant were
definitely on the higher tookthe higher number there Almost
(09:35):
60%, almost 60%.
Yeah, so that's showing if youdo have a house on the market, a
vacant home is looking moreattractive.
They're selling at a higherrate right now, um, because,
probably because there's there'sinventory to choose from and
people are just choosing thevacant, they can kind of see the
layout a little bit better.
(09:55):
And, um, sometimes we havechallenges when homes are
occupied.
Speaker 3 (09:59):
Absolutely.
And then 99% were, uh,non-owner occupied, were sold
yeah.
Speaker 2 (10:08):
So that is 99.2% of the homes that were on the
market that were non-owneroccupied sold.
So that is definitely those areselling at a way stronger rate
than the homes that are occupied, absolutely.
So yeah, let's get into thesemarket numbers for the month of
(10:30):
December.
Speaker 3 (10:37):
So under single family units we have 1,811 units
sold.
Speaker 2 (10:42):
Yep and the median price range of those units was
$475,000.
That was the median sold priceof the units sold, which came
down.
Speaker 3 (10:53):
I think we were closer to right around $500,000,
weren't we.
Speaker 2 (10:57):
The median list price is still.
It's $499,978.
So it's showing that they're upfrom the month prior.
So, yeah, I do think that wehad a period in the last year or
so where it did hit over 500,but that was probably the list
(11:17):
price versus sell price.
Speaker 3 (11:18):
Yeah, absolutely.
And as far as new listings, wedo have 1,754 as of December,
which was up 16.9%.
Speaker 2 (11:29):
Yeah, yeah, definitely.
A lot of new listings hit themarket and the median price of
the new listings was $499,978.
And that brought it to aneffective availability of 2.7
months, which is almost threemonths.
I think we hit three months.
Maybe it was September, we hitthree months, so we're still
(11:51):
very close to that.
Condos and townhomes the unitssold for those were at $4.66.
Which?
Speaker 3 (12:01):
is up a little bit.
Speaker 2 (12:02):
Yeah, not much, but 0.5%.
Speaker 3 (12:05):
And the median price was right around $290.
Speaker 2 (12:08):
Yeah, and that's up too.
And then new listings they wereat $608.
Those were up 21%.
It's a lot.
Yeah, it is a lot.
And then median price range ofthe sold.
We don't see this often wherethe median price range of the
sold listings is lower than themedian price or is higher than
(12:29):
the median price range of the.
Oh, I'm sorry I switched thosenumbers.
The median price range of thenew listings is higher.
Okay, never mind, that was a,that was a.
Can I say a blonde moment, isthat okay?
Okay, so units sold was at 290for the median range and the
(12:51):
median price range of the newlistings is at 299,950.
Speaker 3 (12:55):
And there's an average of effective
availability of about 3.8 months, which is up a lot.
Speaker 2 (13:00):
That is up a lot and that was that, uh, 54%.
So those condos and townhomesare selling a lot slower than
the single family Is there fromon your end very specific
reasons why.
Um, I think it's because there'sso many, um, so much motivation
in sellers right now in thesingle family market that, um,
(13:21):
that they're you know, they'retaking deals, they're dropping
prices, they're, you know, doingdoing a little more things to
get buyers in there and thecondos and townhomes, just you
know it's.
It's just looking at it from abuyer.
If you could own a singlefamily house and you don't have
to get in a condo or townhomeand the price is similar, then
they'd rather go into an entrylevel home than to get into a
(13:44):
condo or townhome.
Speaker 3 (13:45):
Do you find that a lot of the single family homes,
as far as new construction, areoffering better incentives for
that?
Speaker 2 (13:50):
New construction is offering really good incentives,
but it would be impossible toget into a single family home.
New construction in the$300,000 range and even for
homes when you're into a singlefamily home, new construction in
the 300,000 range.
Um, there are, and even forhomes, when you're looking at
single family homes, when you'relooking in that 300,000 range
and, let's be honest, it'sprobably more like 350, 370.
(14:11):
So it's still going to be a lot, a little bit higher than those
condos and townhomes are goingto be, but, um, those are
definitely entry-level homes.
Those are like your um they'regoing to be, but, um, those are
definitely entry-level homes.
Those are like, um, they'regoing to be a cookie cutter of
some sort, you know, and usuallyjust a one car garage and it's
going to be a lot smaller home,but it is detached and some
(14:31):
people see that factor is ofdetached is just like such a you
know, strong um, strong factorno, no shared walls inside the
house.
So, um, but yeah, definitelythose are not going to be your.
You know large lots withprivacy and things like that.
It's going to be a very entrylevel home, yeah.
(14:51):
Yeah, if you're looking forlike I would say, like your
average, 22 to 2,500 square foothome with a decent sized lot um
, you know three or morebedrooms, you're probably still
in the 500 range.
Speaker 3 (15:06):
Yeah.
Speaker 2 (15:07):
Yeah, or above again.
There's there's factors.
There's differences, for sure.
Yeah, there's a lot of factorsout there.
What's the?
Speaker 3 (15:15):
minimal price point you're seeing for like a
standard very basic cookiecutter new build.
Speaker 2 (15:20):
Um, new build.
Uh, so, single family, I wouldI would say still around 500
minimum.
Townhome um townhome brand new?
Um, probably if, if we're doingcon like, they have condos that
are basically townhomes now,but they're still condos and I
don't I there.
There used to be a bigdefinition between what was a
(15:43):
condo and what was a townhomeand now they're basically the
same thing, especially with whatthey're building these days.
So I'm seeing that entry-levelprice.
I think the lowest that I'veseen so far on a condo townhome
brand new was in the $340,000,$350,000 range and then they go
up from there.
(16:03):
It is very common now to seebrand new townhomes or condos
that are in the $400,000 range.
They have a lot of amenities,they have a lot added and
they're beautiful and they'rebig, they're larger than we used
to see them in the past, butthose prices are getting up
there.
Speaker 3 (16:19):
There's some really beautiful ones too, like in
Summerlin, those townhomes, yeah.
Speaker 2 (16:23):
Oh yeah, and then there's luxury townhomes of
course.
So there's those, thosedefinitely go a lot higher.
And then when we're talkinglike high rises, high rises is
another um, another Avenue thatthat we have out there, uh, uh,
and they exist, um, there's,it's quite plentiful.
Here in the Valley we havethese high-rise communities and
(16:44):
those can vary.
I mean, they can start anywhere.
I've seen them as low as like250 starting, and they get to
the multi-millions Absolutely.
And some of them are just big,beautiful, I mean the large
square footage, everything.
So there's a lot of variantsthere.
But what we typically see inhigh-rise is even in the lower
(17:07):
end, where you're getting inlike 250, so 250, 300 would
probably just get you a studiowhich is kind of like a studio
apartment or, to me, like ahotel room.
Speaker 3 (17:17):
Yeah, I mean literally.
We've done loans on those likecondo tells, and they're 500
square feet, maybe, if that.
Speaker 2 (17:23):
Yeah, and their HOAs, even though their prices are so
low, because some people arelike, oh wow, it's a good price.
I'm going to do that.
Hoas are usually high.
Um, I would say minimum I'veseen is 500 and that is
definitely the low end when itcomes to those like condo tells
and high rises and things likethat.
(17:43):
So, um, those are.
It's not always the sell price,it's the HOA as well, because
that HOA, even though itincludes a lot of amenities, I
was going to say the amenitiesare incredible, but the
amenities are incredible.
But, um, it's an option,because some people don't want,
you know, they don't want themaintenance.
They want to live this like, um, you know, just kind of I see
(18:05):
it as like a bachelor lifestyleor whatnot.
You know just this you're um,you know it's like you're.
It's like you're living in ahotel all the time, but you have
concierge service, you haveaccess to, like you know,
clubhouses, cabanas out by thepool.
You have everything that youneed without the maintenance and
upkeep of keeping up a home.
Speaker 3 (18:24):
I think it's great too If it's like a second home.
You can just come here, youdon't have to worry about the
lawn and the pool and all ofthese other things.
So I think a lot of people usethose condo tells or condos high
rises as second properties.
Speaker 2 (18:35):
Yeah as second homes and also there's a lot of
projects here in the Valley thatallow you to.
You know we have very strictAirbnb rules.
(18:59):
Palms is one of them.
That, um, that whole tower isalready approved for short-term
rentals, so you don't have toget a separate license for
Airbnb.
You're already kind of in itand you can do the short-term
rental programs.
You can do that there, um, sosome people that want to have
that short-term rental and alsohave a vacation home but rent it
(19:20):
out when they're not using it,that's a great option.
Speaker 3 (19:23):
It's a lot of money coming in too, because people
are always renting yeah.
Speaker 2 (19:27):
I I seen the net and it was a.
It was on a palms, um, and Ithink gosh, I think our our
price on that was two, 80, um,you know two, 80 and maybe like
a five $600 HOA, you know so not.
You know.
$280 and maybe like a $500,$600 HOA, you know so not.
You know.
It just wasn't too bad, but therevenue that it was bringing in
looked amazing amazing for thatprice.
(19:48):
So definitely it's an avenue.
It's an avenue to talk about.
If it's something you're notthinking about and you're
looking for that investmentslash vacation home, it's an
avenue to consider.
Investment slash vacation home,it's an avenue to consider.
So let's talk time on themarket Days on the market for a
(20:13):
unit sold.
This is over on that.
Okay, you're there.
Okay.
So under 30 days.
So homes that have sold overunder 30 days.
That was half of the homes onthe market Sitting right at
about 50%.
Yeah, 50%, and those sold 30days or less, where we usually
have a lot higher number of that30 days.
Speaker 3 (20:28):
I think at one point you couldn't find a house.
So I mean, literally peoplewere, you know, giving $50,000
over asking.
So I mean I think things aremoving a little bit slower.
Speaker 2 (20:39):
Obviously, december is a different ballgame with the
holidays, but yeah yeah, that'sa pretty low number than we're
used to seeing here in Vegas andsome people that have sold
homes in the past and areselling homes right now have a
struggle with that becausethey're used to, you know it's
instant.
It's that instant gratification.
They're used to like the homeslisted.
(20:59):
Now we have offers within acouple of days and they're like
kind of panicking.
But in the grand scheme ofthings, really in most markets
that are not Vegas, a hometaking over 30 days to sell is
not out of the ordinary.
Speaker 3 (21:17):
No, I think everything was just moving so
quickly at one point, and Ithink that's where you start
seeing some of those pricedecreases coming into, based on
how quick they need to move.
Speaker 2 (21:27):
Yes, absolutely, motivation does make a
difference.
I had a seller that the housewas on the market for.
Oh, it was killing me, like youknow.
A few months I'm just like, ah,what's going on here?
And you know that happens.
This market this last year hasbeen challenging.
It does happen where it wasdefinitely out of the ordinary
(21:50):
in the past.
It is happening now and youknow it's just really.
You know it's a lot of stress,but then you know, even after
all of that, an offer came in.
It's a lot of stress, but then,even after all of that, an
offer came in.
So we just have to kind ofstick it out.
Continue the marketing, staywith it.
Be a tad bit more patient.
Be a tad bit more patient,Adjust as necessary.
(22:11):
And definitely it's a price warin a beauty contest.
You have to make sure the homeis looking its absolute best and
that you are priced bestamongst all the competition.
And that's really what it takesin this market.
Speaker 3 (22:25):
And if the house isn't as great looking.
You know there's especially ifit's priced really right there
are a lot of people who will buyit and fix it up and sell it.
So, yeah, I think you can't winthem all.
It either has to look good andyou can sell, or get more of
what you want, or take the pricedown.
Yeah, definitely, and 31 to 60days.
We're sitting right at a 24.4%.
Speaker 2 (22:46):
Yeah, so definitely a higher number in that 31 to 60
days market.
And then this 90 days number.
We usually see that pretty lowand I think 12, it's a 12.3%,
which I think is high for a90-day number.
That is high.
Yeah, so that's 60 to 90 daysOver 120 days.
We're at 5.8% and numbers evenhigher in the 121, up to 121 and
(23:13):
beyond days is we're at 7.4.
Yeah, so definitely we'retaking a little bit longer to
move these properties, but we dohave hope for January.
I do think that things aregoing to pick up and we're going
to be able to get out of thatstaleness that we had.
Speaker 3 (23:34):
I do as well.
Speaker 2 (23:35):
This is the season, usually tax season, Don't you do
?
You guys end up getting a lotof like new loan applications
and things like that.
Speaker 3 (23:42):
I think some people are waiting for, you know, to
get a refund on their taxes andthey have a plan of getting a
little bit more money put intotheir pocket.
So we typically do, and I thinkI think last year there was a
lot of uproar with elections andall of that, so this year I
think everything's a lot moresettled.
I do think the first quarter isgoing to be really, really good
(24:03):
.
I think there's going to be alot of movement and I think you
know I think things are going tostart going downward as far as
rates.
Speaker 2 (24:22):
I do think that's going to happen.
Yeah, we really need that tohappen.
Right now we're in anenvironment where I guess the
move up buyers aren't reallystruggling as much, because they
have their equity.
Speaker 1 (24:29):
they have their down payment.
Speaker 2 (24:30):
They have things to buy the rate down different,
different options there wherethe rates are not pretty but
still it can make it doable.
But those entry level buyersare having such a hard time.
Yeah, it's rough, yeah, yeah,that it is definitely a
challenge out there.
So that is we.
(24:50):
We have to get more of thoseentry-level buyers into homes or
make it possible for them to beable to get into homes.
We used to have a lot ofdifferent assistance programs
and things like that here in theValley.
It was like for a while it feltlike there was a different
program every year, but Ihaven't heard of really anything
(25:11):
except for Home is Possiblelately.
Speaker 3 (25:13):
Yeah, and I'm going to go into detail on all of
those down payment assistanceprograms in other episodes and
each one I'll break down.
The standard ones are like Homeis Possible, Chinoa.
We use some of the same, but Ithink at that point when we're
trying to get someone into a newhome, typically a lot of times
(25:36):
it can be finances that can bethe issue.
So it's really looking at, youknow, when we go with one of
those options where the rategoes to and if it's affordable.
Speaker 2 (25:45):
Yeah, because the rates are so much higher.
Speaker 3 (25:47):
on those programs.
They are higher, and so, youknow, I think there's a lot of
pluses to it, but I also think,of course and so you know, I
think there's a lot of pluses toit, but I also think, of course
, there's also things that comewith that.
So our goal is really to try tomake it doable and affordable
for someone to get into a homeand do what we can to make it
possible, but the payment has tobe doable.
Speaker 2 (26:03):
Has to be affordable and I think the struggle that
most people have are when peopleask me about down payment
assistance and what programs areavailable right now, which is,
like you said, Home is Possible,Chinoa, things like that.
The struggle is not just thatthe rate is higher, but that
there's a time frame of how longit is before you can refinance
(26:26):
Correct.
On a typical loan, you do sixpayments and you can refinance.
Speaker 3 (26:31):
So we're going to go over that too, and I go in depth
on each program because therehas been some caveats.
A lot of them were three yearsor you if you refinance out of
it before three years, youactually have to pay back the
interest.
Speaker 2 (26:43):
Yeah, yeah.
So there's definitely some somechallenges there with the rates
being higher, because if ratescome down and you're stuck in
this like three year period orthis I want to say penalty
period, right Cause that's kindof what it is If you're stuck in
that period, you can'trefinance right away and you
can't lower that rate if theopportunity comes.
(27:06):
So that's why a lot of peopleare just opting not to use those
programs.
Or it has to be paid back, yeah, or it has to be paid back.
Speaker 3 (27:11):
So, as much as you know we want to do what we can,
we also want to be realistic onon what that looks like for a
buyer and make sure that theyknow, you know, the good and and
somewhat of some of thechallenges that come with those
programs.
Speaker 2 (27:24):
Yeah, yeah, absolutely.
And, courtney, if somebodywants to talk to you about
different loan options, how toget some money to buy a house-
how do they get a hold of you?
Speaker 3 (27:34):
You can get a hold of me and get some money at
702-416-6918.
Speaker 2 (27:40):
All right, thank you.
If you guys need to help findthat house, once you get the
money from Courtney, you cangive me a call at 702-308-2878.
If you are watching our show,please continue to follow us
like, share, subscribe, tellyour friends, check out all of
our links to connect with useverywhere at
(28:02):
wwwrealtycheckvegas and that'swhere you can find everything
about us.
And we do want to give a shoutout to our new marketing partner
, which is Chicago Title.
You see them there on thescreen.
They do title and escrow herein the Valley and they're a very
(28:23):
reputable and great company towork with.
So we have some partners therethat can help you if you are
looking into title informationor when you purchase a home
opening escrow.
All of that good stuff, all thefun stuff, all the fun stuff.
So thanks, guys, and we willsee you next week on our show.
(28:43):
And thanks for tuning in.
Have a great week.
Bye, thank you.
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