JANUARY 2014 2970 Red Arrow Drive
Red Rock Country Club - The Estates 5,687 sq.ft. | 5 bedrooms | 5 1/2 bathrooms $
1,800,000
2315 Malaga Peak Street
Traccia 3,158 sq.ft. | 3 bedrooms | 2 1/2 bathrooms
Call us today to help you find or sell your guard gated home.
10161 Park Run Drive, Suite 150 | Las Vegas, NV 89145 | 702.605.7480
www.robjensen.com
SOLD PROPERTIES | DECEMBER 2013 Address Sq. Ft. Sold Price
Anthem Country Club
14 Feather Sound Drive 9 Annadale Court 27 Sankaty Circle 36 Candlewyck Drive 75 Emerald Dunes Circle 8 Pine Hollow Drive 8 Panther Creek Court
Aventura
9904 Alegria Drive 205 Tesoro Drive
Bellacere
10217 Stony Ridge Drive
Price Short Sale /Sq.Ft. /REO
2,678 $525,000 1,940 $385,000 5,716 $1,600,000 3,216 $706,000 1,833 $340,000 3,374 $831,250 2,766 $530,000
$196 $198 $280 $220 $185 $246 $192
3,423 3,514
$172 $171 SS
$590,000 $600,000
3,888
$787,000
$202
3,663 1,788 2,747
$520,000 $320,000 $480,000
$142 $179 $175
11821 Weybrook Park Drive 34 Olympia Hills Circle 56 Olympia Canyon Way
30 Princeville Lane
No closed sales for the month.
The Fountains
2366 Villandry Court
Eagle Rock
No closed sales for the month.
The Palisades
10209 Stone Briar Court 5,129
$837,500
7,021 $1,700,000 7,055 $1,240,000 3,999 $819,900 5,089 $1,125,000
$163 $242 $176 REO $205 $221
5,094 $1,600,000
$314
2,189 $250,800 $115 SS 8,723 $2,375,000 $272 14,795 $1,850,000 $125 REO 6,224 $1,175,000
$189
6,049
$675,000 $112 REO
5,762
$750,000 $130
5,959 $1,300,000
$218
The Ridges
15 Hawk Ridge Drive 10,194 $6,250,000 $613 56 Soaring Bird Court 4,388 $2,030,000 $463 11280 Granite Ridge Drive #1042 2,825 $415,000 $147 78 Meadowhawk Lane 7,010 $2,175,000 $310
The Vineyards
No closed sales for the month.
Mountain Trails
No closed sales for the month. 9101 Alta Drive #1005 9101 Alta Drive #1405
Southern Highlands
Spanish Trail
Eagle Hills
One Queensridge Place
3,455 $665,000 $192 3,455 $615,000 $178 3,085 $785,000 $254 3,343 $570,000 $171 5,267 $1,300,000 $247 4,121 $1,180,000 $286 3,085 $755,000 $245
Seven Hills-Rapallo
5132 Mountain Foliage Drive
No closed sales for the month.
646 St Croix Street 1683 Tangiers Drive 1425 Foothills Village Drive 1675 Tangiers Drive
Roma Hills
Spanish Hills
Country Club Hills
MacDonald Highlands
2924 Evening Rock Street 2904 Evening Rock Street 2777 Turtle Head Peak Drive 2505 Peaceful Prairie Court 2062 Cherry Creek Circle 2410 Green Mountain Court 11473 Glowing Sunset Lane
No closed sales for the month.
No closed sales for the month.
2024 Troon Drive
Red Rock Country Club
Seven Hills-Terracina
Corta Bella
Legacy Estates
No closed sales for the month.
No closed sales for the month.
No closed sales for the month. 8801 Rainbow Ridge Drive 2300 Timberline Way 2128 Bay Hill Drive
Price Short Sale /Sq.Ft. /REO
Queensridge
773 Latina Court
Canyon Fairways Canyon Gate
Address Sq. Ft. Sold Price
Tournament Hills 9021 Greensboro Lane 3,355 $1,538,000 3,355 $1,650,000
$458 $492
Willow Creek
10922 Iris Canyon Lane
12,647 $6,850,000 3,091
$542
$940,000 $304
What’s Next With the Housing Market? For those fortunate to own property in Las Vegas and Henderson, 2013 was a red hot year for the Nevada real estate market. Home appreciation was quoted from 20% to 30% in some areas. What should we expect in 2014?
outbid and getting desperate to purchase a home at historic low interest rates and pricing. The sold prices surged up with many properties selling over the appraised value. This continued through summer until high inventory, higher list prices, and the seasonal slowdown lead to the sizzle dying out by fall.
To understand where we’re going, we first need to ask what made last year so successful. For the answer we need to look back at 2009, a year after the market crashed. There were slightly more than 8,000 homes on the market. Once short sales and foreclosures really came on strong, there were over 12,000 available homes for sale. Inventory was up and prices were down due to distressed sales.
Where are we going? With higher home prices and significantly more inventory, I would expect a very moderate single digit appreciation for 2014. However, there is one more factor that needs to be considered, The Federal Reserve and Quantitative Easing.
That was the set up for October of 2011 when Assembly Bill 284 passed. Immediately, Notice of Defaults (the first step in the foreclosure process) dropped from 2,000-3,000 per month to less than 100. Inventory dried up and a year later in October 2012 inventory had dropped from 10,346 available homes to 4,079. A whopping 60.1% drop over the course of a year. By February 2013, inventory dropped even lower to 3,047. Once spring sales picked up, as they always do, the low inventory created bidding wars. Buyers were being
S & P 500
Where are we now? Sales comparables are significantly better now. Homes have stabilized at significantly higher prices than a year ago. As of January 2014, inventory is now up to 9,093 available homes.
For all of 2012, the Federal Reserve printed an extra $85 Billion a month for their bond buying stimulus plan. This created an enormous amount of liquidity which helped inflate the stock market to record highs. The graph below compares where we are now to the tech and stock bubbles of years past. People believe the real estate boom is back and here to stay. Even Forbes has a 3-year growth forecast of 58%. But keep in mind, the Fed is already starting to taper their stimulus and print less money. This could result in higher interest rates and a major slow down. It could be a couple years out, but I recommend erring on the side of caution and be prepared for when the next bubble bursts.
QE
— Jan 1974 - Jan 2014
Google Finance, google.com
Tech Bubble
Real Estate Bubble — — — — — — — — —
1800 1600 1400 1200 1000 800 600 400 200
‘74 ‘75 ‘76 ‘77 ‘78 ‘79 ‘80 ‘81 ‘82 ‘83 ‘84 ‘85 ‘86 ‘87 ‘88 ‘89 ‘90 ‘91 ‘92 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘04 ‘10 ‘11 ‘12 ‘13
www.robjensen.com Formerly The Jenson Group
10161 Park Run Drive, Suite 150 Las Vegas, NV 89145
Information on 27 Guard Gated Communities inside!
D000! L O 0,
2816 High Sail Court
Sor $95 f
The market is HOT! Call Rob Jensen today to sell your home. 702.605.7480
The Lakes