Las Vegas Homes For Sale - Bad News!

Las Vegas Homes For Sale - Bad News! The US real estate market, particularly in Las Vegas, is facing significant challenges for homebuyers due to high home prices, elevated interest rates, and the growing influence of large real estate investment companies. This combination spells bad news for individuals trying to achieve homeownership as affordability continues to erode and demand weakens. However, housing demand in places like Las Vegas and the nearly 6,000 Las Vegas homes for sale may see an increase as thousands of Southern California residents, displaced by recent wildfires, look for new homes. This influx could drive interest in Las Vegas homes for sale, even as affordability remains an issue. The current median price of the increasing inventory of Las Vegas homes for sale has declined to $470,000. This is down from near record prices of $485,000 a few months ago. As demand weakens, many homeowners who overpriced their Las Vegas homes for sale are now reducing prices in many instances, a trend clearly visible on popular platforms like Zillow. The overabundance of Las Vegas homes for sale, both resale and new Las Vegas homes, coupled with these price reductions, reflects the diminishing demand in this market. Still, the potential migration of displaced Californians could reinvigorate some sectors of the market. As affordability concerns grow, the adjustments in pricing across Las Vegas homes for sale underscore the challenges facing aspiring home buyers today. Ultimately, the balance between supply, demand, and affordability will determine the temporary trajectory of Las Vegas homes for sale in the coming months. If you are thinking of buying a home, especially any of the current Las Vegas homes for sale, make sure to negotiate a better price if possible, especially at this time of year.
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Jerry Abbott
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Summit Properties
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[@lasvegasliving9237]

The US real estate market, particularly in Las Vegas, is facing challenges as high home prices, elevated interest rates, and the growing influence of large real estate investment companies spell bad news for homebuyers. These factors are weakening demand, making it harder for average buyers to afford homes. However, there is potential for housing demand to rise in places like Las Vegas due to the thousands of people in Southern California who have lost their homes in recent wildfires. This migration could drive interest in Las Vegas homes for sale, even as many homeowners reduce their prices. Overpricing, visible on popular websites like Zillow, has forced sellers to adjust, reflecting the market's affordability issues. 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 still significantly overpriced. 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: [e-mail] Website: jerryabbottrealty.com TikTok: lasvegasluxuryhomes1

[@JustinClough76]

You should do a video of how much home equity people would of lost if they've been listening to you over the last 3 years by not purchasing a home in Las Vegas.

[@lasvegasliving9237]

Maybe I should also do a video of those same homeowners, while they’ve certainly increased their equity, are struggling like crazy to make those payments and maintain their homes.

[@JustinClough76]

@ 2 totally different stories. #deflection

[@lasvegasliving9237]

@ You can choose to look at it however you want.

[@j.d.m.3287]

my 92 year old mother just received her R.E. Tax bill... $3,600/year... last years' bill was $2,400... the county assessor raised the property taxable value an extra-ordinary amount... I told her she is "renting" the land underneath the house from the county, and they just popped in a 50% increase.. next year, maybe another 50%..?? 60%..?? ...nobody knows

[@Irvfam]

Where did this happen?

[@lasvegasliving9237]

Wow, that is sad and so frustrating to hear. Thanks for sharing.

[@j.d.m.3287]

@ northern ohio, erie county...

[@daveaguilar9026]

I have several vegas realtors say this. Las Vegas is not California. People who live in LA live there for a reason.

[@lasvegasliving9237]

That’s true but the proof is in the pudding. Many realtors here in Las Vegas are getting a lot of phone calls from people in SoCal to relocate here.🤷‍♂️

[@willietoro8944]

As someone who was born and raised in so cal, I moved to Vegas in May of 22. So far I don't see myself going back anytime soon. So it's a lil warmer 4 months out of the year, give me a break. I use to sit in traffic for 2 hrs on a 35 mile drive, now it only takes me 25 min to get anywhere. I'm happy

[@lasvegasliving9237]

Glad to hear it.👍

[@fpanadero2626]

100 Degrees at Midnight? no thanks!

[@raphtranter6895]

You hit on an issue that many people haven't taken into consideration - California traffic and commute times. That's a serious quality of life issue, not to mention financial cost.

[@lasvegasliving9237]

@@fpanadero2626 Hot in July and August for sure.

[@lasvegasliving9237]

@@raphtranter6895 Very true!

[@Trump-rv4nz]

Even though the jobs in California pay higher wages, people still cannot afford to buy a home. Even older homes cost an arm and a leg

[@lasvegasliving9237]

Very true!

[@MattieXMoto]

Every one of your titles are spammy and click bait. Reported

[@lasvegasliving9237]

The data I provide is my videos is factual, regardless if painful to hear and certainly not spammy or click bait. Read the hundreds of comments in all my videos...nobody has ever commented the way you just did. Grow up.

[@TM-li7bl]

When you look at the history of the price increase in LV market, it still has long way to go!!! I’m sitting out bc I can with cash, until the price starts to look reasonable!!!

[@lasvegasliving9237]

I understand how you feel because a lot of people feel that same way but unfortunately trying to time the market is very challenging. Time in the market is far better than trying to time it.

[@robt3233]

Vegas is still cheap! Should be 30% higher

[@pnketia]

Well as a former Californian when I retired in 2021 I moved from Orange County CA, to Summerlin NV and it was simply because CA became too expensive, had too many taxes and traffic was too congested all times throughout the day!

[@donaldbiden9492]

Go somewhere else. Las Vegas is too hot and dusty.

[@renardfranse]

please leave your liberal views in CA

[@lasvegasliving9237]

I appreciate you sharing that! So many people continue to say that residents of Orange County would never move to Las Vegas and you obviously have proved that wrong!👍

[@lasvegasliving9237]

@@renardfranse He never mentioned anything in his comment to warrant your comment.

[@j.l.salayao8055]

Save your words, it's too late. At least half of the southern Nevada residents who has been here for years were originally from mother Cali. I just met many hard working blue collar gentlemen not too long who has been here 35 years and longer. Many do not let you know their from Cali unless their comfortable telling it to you. Jerry , I think was from Cali as well who has been here many moons ago.

[@SurfSarge]

I wouldn't feel safe living in California and I live in Hurricane alley! I was there in August and couldn't believe how expensive everything was...We honestly couldn't wait to leave...California needs a major leadership overhaul!ASAP!

[@lasvegasliving9237]

Agreed on California.

[@beaubennett7469]

I lived in San Diego for 26 years and I never ever locked my house or car doors. It was perfect until 2008 when the economy crashed. Luckily, I sold my house 3 days before Lehman Brothers crashed. I moved to 'idyllic' Islamorada in the FloriDUH Keys. What a disaster. No employees, criminals everywhere (not the immigrants either), poor infrastructure, no employees, super high and impossible to find housing. Then the water which is surrounded by a 30-50 mile ring of dead coral

[@dividebyzero1124]

The LA housing market is so tight right now that some will move to Vegas until their houses are rebuilt 5 yrs from now. The rich will simply buy a vacation home in Vegas due to the huge price difference, the entertainment and the proximity to LA.

[@lasvegasliving9237]

There will be a lot of people from California migrating to Las Vegas. It is already happening.

[@dividebyzero1124]

@@lasvegasliving9237I have friends live in multiple cities of SoCal have their electricity cut off every time the Santa Ana wind blows due to trees and power lines in the area. That is two days each week over the past month. Life is getting tough all over SoCal.

[@trigun442]

My wife and I are renting a small 1BR 1BA 689 sq ft apartment for $3,500/month in the Bay area. We recently purchased a 6 BR 4.5 BA almost 4,000 sq ft home in Las Vegas for a fraction of the price you'd get closer to San Francisco. Since the flight is only about an hour away, we are keeping our job in California. Glad we purchased a property instead of wasting it on rentals.

[@BREEZYM6015]

How much did you pay for the house? A 6 BR 4.5 BA still has to cost a lot.

[@trigun442]

@BREEZYM6015 $720K

[@lasvegasliving9237]

Good for you. Hope it works out well for you!

[@lasvegasliving9237]

@@BREEZYM6015 Not nearly as much as the Bay Area.

[@trigun442]

@dougquon1174 I actually own a rental property so thats where a portion of our passive income comes from. As for the rental in the Bay, it'll be ending this month. We'll be renting just a room for $900 with other tenants since we'll only use it for lodging as we will be flying back and forth from our house in Vegas.

[@Mr.Creepo]

Dude, that’s a badass sweater!

[@lasvegasliving9237]

Thanks so much!👍🙏

[@BoulderCityBlues]

Because I work in the film and television industry I choose to rent an apartment in LA while having residency in Nevada where I own . I could never make the money in Nevada I make in California as most Californians wont be able to do either . Nevada is a good place to invest and to retire because they don’t tax pensions or any retirement money ,but unless you have a really good paying job in Nevada stay away as it’s not what it used to be and getting way too crowded and expensive even for people with good paying jobs .

[@rhbarbs]

You're right my husband has police pension and has full time job as correction officer in nevada .he makes 140,000 to survive in nevada.hones are still over priced

[@lasvegasliving9237]

A lot of people feel that way yet so many people continue to move here.🤷‍♂

[@BoulderCityBlues]

@ But they don’t stay ..

[@lasvegasliving9237]

@ Thanks for sharing that!

[@danielwilliams9753]

My mother has a home in SoCal, the OC specifically, she is not affected by the fires thankfully. She will be selling her home and moving to Vegas with me. I'm starting to look for a home in Vegas but I don't know if I will qualify after talking to the lender, still waiting to hear back from her. Hopefully it will all work out.

[@lasvegasliving9237]

Hopefully so, reach out to me direct if you need any help.

[@cr8zie]

These sellers missed out on selling in 2021 and early 2022

[@lasvegasliving9237]

Yes but they have still done pretty good for the most part.

[@situationmoney]

Yet another wacko valuation... $619 a square foot for the home priced at $2 million. Nothing in Nevada should be priced at $600 a square foot. These have to be promotional listings for the seller agent's benefit...

[@lasvegasliving9237]

I hate to say it but their homes that are far above that kind of price per square foot here in Las Vegas. Well over $1000 per square foot in the higher end areas.

[@donaldbiden9492]

Is the cost of living even "far cheaper" in Vegas anymore, as you said? The cost to live in Las Vegas has increased exponentially since the great scam a few years ago.

[@lasvegasliving9237]

It definitely has increased in recent years just like everywhere else but certainly a lower cost of living here compared to places like SoCal.

[@BREEZYM6015]

What was the great scam? 2020? 😂

[@lasvegasliving9237]

@@BREEZYM6015 Covid shutdown.

[@carolanderson2773]

It should be made law. Private home buyers only. NO BLACKROCK! Lower the interest rate. North Dakota lowest.🤣🤣🤣

[@JosePerez-ml1zl]

North Dakota ?who wants to live inside a freezer all year long do not forget those polar vortexes every winter on top of that where are those jobs to afford your living expenses besides seasonal oil industry jobs

[@lasvegasliving9237]

Unfortunately, that will never happen.

[@grantg8195]

The US hasn’t realized it yet, but the younger generations are not only having fewer kids… They’re not going to stick around the US the way older generations have as a whole.. Gonna have to do a 180 on immigration to resupply the slave labor; because the home grown is tired of not affording a family or homes and will be heading out. Yesteryear it was Portugal and Spain, maybe now it’s Thailand, Bali, CR… it will continue to change but there will surely be a short list of best places to take your money and live simply in 20yrs as well. Then they can house their data centers and robots in the communities they own.

[@lasvegasliving9237]

@@grantg8195 It's only getting harder with each new generation.🤷‍♂

[@luisbolanos6258]

Should I trust to sell my house to someone that left a note with a business card that says: would you be interested in selling your house to one of my buyers?

[@lasvegasliving9237]

Probably not.

[@luisbolanos6258]

@lasvegasliving9237 Do you think it can be a scam or a lowball offer that I gonna end up getting?

[@lasvegasliving9237]

@@luisbolanos6258 Hard to know for sure depending on if it's a legitimate buyer or an investor.

[@gordongekko4752]

Don't forget there are many California commuters who work in California, but live in Vegas. How? Monday through Friday they work in California (Live in their car or have pied-à-terre.) and only come home Friday night and depart for work early Monday morning. You think, we live in Nevada, but others know we live in Las Vegas, Eastern California. LOL.

[@lasvegasliving9237]

Very interesting.

[@RasiRobi]

Thats crazy 😮Vegas to far just buy somewhere closer like Victorville

[@gordongekko4752]

@ You don't understand. It is about taxes, hence, why they commute.

[@John_GGG]

⁠@@gordongekko4752 you pay taxes where income is earned, not where your pillow is.

[@dividebyzero1124]

Property tax and home insurance are much higher in LA, easily 2-3 times more.

[@dmimcg]

Glad I sold my condo in NV and bought my new place in Pacific Palisades last month. My realtor said I made a great decision- no more HOA fees! Fire insurance would be more, but I'm not going to buy it until I have to. Winning.

[@lasvegasliving9237]

Okay, thanks for sharing that.

[@jclements65]

Wall Street should be limited to the number of single family houses they can own,

[@lasvegasliving9237]

No doubt but that is unlikely to happen anytime soon, if ever.

[@jclements65]

@ Your channel is very informative, accurate and, always great to watch

[@lasvegasliving9237]

@@jclements65 Thank you so much for the kind words and support!👍🙏

[@baddage]

When it comes to people who have lost their homes in the L.A. fires moving to Las Vegas, you have to consider they have nothing to sell to fund such a move. Insurance will pay to rebuild, not to cash out. This is assuming they can get anything from the insurance companies, at all.

[@lasvegasliving9237]

Good insight! Thanks for sharing that!👍

[@ConstitutionCurt]

Don’t forget higher insurance, HOA fees, and property taxes. Lots of stress on the housing market. Illegal immigrants leaving may also be a factor.

[@lasvegasliving9237]

The housing market has a tremendous amount of hidden costs that a lot of people don't realize once they've already become homeowners.

[@Sams911]

supply = demand .... with thousands of homes in LA gone, this will drive prices up in LAS as well as LA obviously

[@lasvegasliving9237]

Possibly but more inventory is hitting the market.

[@edwardsteinmetz-gl3zl]

For the algorithm. Price is everything. If the price is right, and not what you it was 3 years ago, it will sell.

[@lasvegasliving9237]

Location and price will always be the two biggest selling factors.

[@TuanNguyen-yc4wz]

Good Morning Brother JERRY 🌞 👍👍👍🏡🏡🏡🇺🇸🇺🇸🇺🇸🥰🥰🥰

[@lasvegasliving9237]

Good morning Tuan!👍🙏

[@AKArcticEngineer]

I don't think prices are going to come down.

[@lasvegasliving9237]

Maybe, maybe not. Time will tell.

[@williambauer3057]

Same content for 3 straight years. Fear mongering. When prices 'crash' they will still be higher than when you 1st started trying to prevent people from buying. Geriatric I mean Jerry Abbott your content is getting old!

[@lasvegasliving9237]

I still appreciate you watching pal!👍

[@bobbowie9350]

Personally, I never watch it, I just vote it down.

[@lasvegasliving9237]

@@bobbowie9350 You never watch it but know the details of my content? Yeah, okay Bob.

[@RasiRobi]

Lot of those Californians moving more inland and east coast states

[@lasvegasliving9237]

That's also true.

[@wilcalint]

Will California move to Las Vegas? Some will, most won't. There are no jobs in LV except for the obvious. Lots of Hospitality jobs. Good but not great pay. Using me as an example. There are no $150,000++/yr Computer Engineer jobs here in Vegas I graduated in 68, retired in 11. 40+ years in the computer industry. Retired to live comfortably in North Las Vegas. No hope of finding a high paying job in my profession in Clark County. Like found in California. There are no high paying technology jobs in Clark County. Never will be. I don't deal cards.

[@lasvegasliving9237]

The job market in Las Vegas certainly isn't as strong as California but the cost of living is definitely lower, so there are trade-offs. Also, many of the people that are migrating from California to Las Vegas are in a strong financial position to easily be able to afford homes here.

[@DexScreenHer]

oh God that house in back of you is Fire!!!

[@lasvegasliving9237]

Beautiful custom home by the home builder Blue Heron!👍🔥

[@TheeLynnChase]

The Dynacraft house that sold for 865k was purchased for 770k in 2022 and they did a complete remodel. Cabinets paint, floors, fireplace surrounds etc. probably about 35k worth of work. After broker fees, and closing costs. they will be lucky to make 25k. Where are they moving to with that little profit? 😂 The market is stagnant.

[@lasvegasliving9237]

Good point and hard to know why and what makes people do that.🤷‍♂

[@XennialGuy]

I like that house in the background. How much is it going for?

[@jftuvell]

That’s a Blue Heron home. The model is called the “Zenith.” It’s been built in Henderson in several communities and is currently being offered new in several communities at Lake Las Vegas. Blue Heron’s website will give you all the details.

[@lasvegasliving9237]

That home is the top of the line show home by the builder Blue Heron. They are in the $5M range.

[@louisking4060]

Jerry he's just telling us the truth whoeve 3:00 r buying a house right now with housing price and high interest rates making a big mistake

[@lasvegasliving9237]

Everyone's financial situation is different but unfortunately many people are putting themselves into a very difficult debt situation by owning a home at these prices and interest rates right now.

[@RasiRobi]

I would just wait if you don’t have to buy right now

[@lasvegasliving9237]

@@RasiRobi Many are doing that but many are also buying as well.

[@richardgadoury8452]

A home price goes up 114%, that is the sticker price. Wages go up 50%, which puts you into a higher tax bracket. Jerry, what percentage of working people can afford a home, based on medium price..

[@lasvegasliving9237]

It's really hard to give an answer to that because many of the homebuyers in the Las Vegas market are out of state wealthy homeowners, high income owners, or investors. The average income earning person cannot afford the average home price here in Las Vegas.

[@richardgadoury8452]

It's like that everywhere. There is a group of people, for many reasons, that are financially solvent. Do you think this bubble will burst, be honest...thank you.

[@lasvegasliving9237]

@@richardgadoury8452 No, I don't because there will be bank or govt interference as usual to calm any rough water.

[@dannycohen4471]

The cost to carry a home will become unaffordable in California. The insurance market is in bad shape and rates will skyrocket. I’m also tired of the winds. I’m strongly considering a move to Summerlin.

[@lasvegasliving9237]

Agreed, housing costs are unimaginable in the popular areas of California. Reach out direct if you need any help with your potential move to Summerlin.

[@JamesVarnas]

Enjoyed the video, I believe that most in California -will take the insurance money and resell the vacant land to developers -taking up to 4 years to rebuild your home is crazy-I know they will try to fast track permitting, which will help some, but think about putting your life on hold for just 12 months its tough-Not a chance I would stay, but I have the means to live where I want, Best of Luck Cali

[@lasvegasliving9237]

Thanks for sharing your thoughts James!👍🙏

[@lisaaustin4561]

Fast track permits? In Los Angeles County? Any county in California. No chance that would require hiring people. LA is BROKE thanks to all the Welfare recipients we have to support thanks liberals!

[@bigjeep2195]

Same video different day.

[@lasvegasliving9237]

Thanks for watching anyway, much appreciated.👍

[@darrylperry6029]

I live in rural Hawaii with all available utilities and where it is always green and beautiful. Lived here all my life and wouldn’t live anywhere else. Just yesterday I spoke to my contractor who is building our new home. He said people from California are moving here and purchasing new homes-mostly on the high end side. Apparently they are tired of unpredictable climate change issues, high taxes, traffic, etc. Although we’re number #1 in cost of living percentage, and State taxes are high, a lot of people feel it’s a small price to pay for peace of mind. Right now housing inventory is up 46% so it seems to be a good time to negotiate for lower prices, but they don’t seem to be coming down. We’ll see how things change in the upcoming months. Thank you for keeping us updated on the current situation.

[@lasvegasliving9237]

Very interesting. Thanks for sharing that Darryl.

[@missincere9336]

Our home values in Vegas are ridiculous they go up and down everyday people are just making up the prices as they go.

[@lasvegasliving9237]

Pretty much and will likely only go higher over the long term.

[@jackcovington645]

I bet most of the current home owners today, those you purchased their home several years ago, could not afford their house in today’s market. Terrible market.

[@lasvegasliving9237]

So true!

[@ScottWarner86]

I’m selling my home in Vegas. Around 300k. And yeah looks like a company will buy it lol. They plan to flip it for higher.

[@lasvegasliving9237]

Not uncommon.

[@danielmartino9841]

The fact that so many investors are purchasing residential homes in Las Vegas tempers my interest in Las Vegas. Private individuals invest money to enhance their living experience. I would not be interested in renters living all around me. Who in their right mind would want to live in a FOMO community with an HOA. Don’t forget, the Heat Index in Nevada is soaring. I live in LA. I am in the process of hardening my home as best I can. I hate the politics but Nevada is going in that direction.

[@lasvegasliving9237]

Sadly true.

[@ladymel410]

As a current resident in California and formerly from Southern California, these fires are definitely going to push many residents to Las Vegas. Fire insurance is not going to be enough to relocate or rebuild based on current home and material pricing. Relocation is going to be the primary option for many, and Vegas is only a 3.5 hr drive from LA county.

[@lasvegasliving9237]

Totally agree with that!

[@RiduanDunia]

After President Trump came to CA and the indirect pressure he applied to the state government, I would be most inclined to remain and rebuild. After that when it comes time for local and state elections, I’m voting for one who would reduce red tape and lower taxes.

[@lasvegasliving9237]

Okay, thanks for sharing your thoughts.

[@alberttovar]

The fires in SCAL will be the straw that broke the camels back for many people. That event will initiate the interest to move. I’m sure Las Vegas will be an option for some. You are right though, the political climate, high taxes, and lack of leadership and accountability in the state made us move to Las Vegas just a few months ago. We don’t miss it.

[@lasvegasliving9237]

I agree, and I already can tell because a lot of people in the overall state, not just SoCal, are migrating to places like Las Vegas rapidly.

[@jackeroo75]

Cali is dying and many are moving to Seattle.

[@lasvegasliving9237]

@@jackeroo75 Not nearly as much as Las Vegas & Phoenix.

[@deetorrance3659]

What is the home insurance situation now in Vegas ? Many here in SoCal have been dropped by their insurance provider. Is this also happening in Vegas ?

[@renardfranse]

nope

[@lasvegasliving9237]

Not that I know of and certainly not like SoCal.

[@darrylk808]

I bet a percentage of those that have lost homes in CA will choose to move and get on with their lives rather than spend the next few years in insurance, permitting, contractor hell.🤬

[@lasvegasliving9237]

I agree with that,

[@cranebrain2]

For years Californians had homes to sell and move here to Vegas and these fire victims have no home to sale so I don't think they will come here

[@lasvegasliving9237]

It will all depend how the insurance scenario works itself out over there to determine what people will do in SoCal.

[@Jeff-y4j]

Hello, I am interested in building a home from the ground up, I want to buy the land cash and get a loan to finance the construction, I got pre-approved for 750-800k+ for the Construction. Would you recommend investing into a luxury home or something more like building a du flex and or tri plex. I was looking at Lake Las Vegas, but like how you mentioned in the video, the more pricy homes are taking big price reductions.

[@lasvegasliving9237]

Reach out to me direct to discuss more details.

[@Useresq]

As long as Vegas people keep selling, I will keep buying 🤷‍♀️

[@lasvegasliving9237]

That will continue for the foreseeable future.

[@jamesdiemer-xg1iu]

Great information. You're the best with the real news. 🥸

[@lasvegasliving9237]

Thanks so much James!👍🙏

[@lockup6104]

Mahalo 🤙🏽🤙🏽🌴🌴🍍🍍🌺

[@lasvegasliving9237]

Mahalo buddy! 🤙🌴

[@MarRon98]

The rent is too damn high!

[@lasvegasliving9237]

Yes!

[@kitokyokito]

There are many californians who only lived in CA. They are refused to move to any other states. I have many friends like this.

[@lasvegasliving9237]

That is definitely the case for quite a few people that have lived there their whole lives, but many people are now starting to change their minds as well.

[@ChadLusk-t8m]

Now that Trump has gone to California and put some items in place to rebuild. I feel they’ll stay in California.

[@lasvegasliving9237]

Some will, some won't.

[@thomasfranco5997]

What really gets to me is that there are people who lost homes in the fires. Some of the owners of Condos for rent now are raising the rent for these people. These owners have no shame. They just lost their home for many years and these owners have the audacity to raise the price double or triple the rent. Unbelievable!!!

[@Resmith18SR]

Welcome to Capitalism U.S. style and unfettered Greed.

[@lasvegasliving9237]

It's quite sickening.

[@lasvegasliving9237]

@@Resmith18SR It's not just greed, they are predatory and heartless.

[@sleepsound3107]

Sellers need to come to terms with reality.

[@lasvegasliving9237]

Many are and it will likely start to reflect more in prices coming down to reality. Time will tell.

[@sleepsound3107]

@@lasvegasliving9237 I pray that you are correct, and that normal people like myself will be able to achieve the dream of home ownership again soon. Thank you for all of the updates!

[@正义-g3l]

Your title is always confusing! Bad!

[@lasvegasliving9237]

How so?

[@正义-g3l]

@ just tried to attract readers, but no real news!

[@lasvegasliving9237]

@@正义-g3l I attract readers because I provide actual news and data each week that shows how shocking and unaffordable homeownership is for millions of people nowadays.

[@Stridermd]

It's not necessarily the direct fire victims that would be trying to move here but those who saw what happened, weren't far away, are under insured and scared of what is to come. There are millions of people in LA like that. It's that type of person that may never have considered leaving LA before, yet now they feel they need to get out before it happens to them. They are strongly considering cashing out and coming to Vegas to live very comfortably.

[@lasvegasliving9237]

Very true and it's already starting to happen.

[@tuscanyjc]

Wait till the job losses hit & forced selling starts

[@lasvegasliving9237]

That will certainly changes things quite a bit if that materializes.

[@lutomson3496]

people are hurting late paying bills foreclosures up and rising...he never said anything about the over all economy

[@lasvegasliving9237]

A tremendous amount of people are paying their bills late or not at all and having huge financial problems. However, those people are not the ones dictating the prices of the real estate market. The wealthier homeowners and high income earners are the ones that dictate the overall majority of the market.

[@Michael-we9vp]

Jerry looks absolutely stunning! He's such a handsome devil. And he's intelligent! He's the total package.

[@lasvegasliving9237]

Thank you Michael! Always appreciate your kind words!👍🙏😊

[@Resmith18SR]

Michael is obviously not watching Jerry's videos for the same reason we are.😂😂😂

[@lasvegasliving9237]

@@Resmith18SR Not sure how to take that.🤷‍♂

[@nitemoves3157]

Dawg, Jerry telling it how it is! Maybe you’ll be part of the transaction with sneaky Pete coming to Coach the Raiders! Or maybe he’ll just live in Mandalay Bay Hotel/Casino 💰☀️

[@lasvegasliving9237]

I'm sure he will buy something very nice!

[@mikeshafer]

I lived in LA last year and I now live in Vegas (sup Jerry!). Nobody in their right mind would move from Palisades to Vegas. It’s as worse to them as moving to Detroit, at least in terms of perception, which is important to anyone in the Palisades. Not everyone who was devastated is an upper 1%. I know several white collar workers who lost their apartments in Palisades etc. But even then there is generally a negative vibe of Vegas compared to LA. I know, everyone asked why I did it. But they weren’t living in Santa Monica with vagrants shitting everywhere. I hope people don’t flood into Vegas because prices are still too damn high !

[@lasvegasliving9237]

Hey Mike! I mostly agree with your assessment but a percentage of people may really make some big changes this time around because of the constant problems (politics, taxes, constant fire threat, homelessness, etc). Hard to know how the insurance claims will be handled and the years it will take to rebuild. I think many will want to stay in Palisades but it's a disaster zone for now and probably for several years. I am already hearing from a lot of people in SoCal and their desire to come to Las Vegas. Time will tell.

[@quailshootr6389]

When the new homes in California get rebuilt that were destroyed by the fires , will those affected Counties reassess their property values? If so, that could drive people out.

[@lasvegasliving9237]

Possibly, nobody knows just yet.

[@stangapasin3707]

Waiting a bit for real estate changes translation: waiting for several to 5+ years!; in time that's really more than a bit.

[@lasvegasliving9237]

It sure is and has been during these past few years but the reality is that many people simply cannot afford homeownership anymore with such inflated prices and interest rates.

[@captjohnny]

It usually takes a catastrophic event to make people change, like a job loss, divorce or, in this case, a fire. People who are smart take this opportunity to change, while others like their 'comfort zone' and won't change..they like the devil they know. No matter, moving from CA to NV 7 years ago was the best 'change' my wife and I ever made.

[@lasvegasliving9237]

Great insight and true! Thanks for sharing that and you probably got a good deal on home 7 years ago compared to today!

[@davealmer3803]

Are you standing in front of Occulus by Blue Heron..??

[@jftuvell]

It’s a Zenith plan, also by Blue Heron.

[@lasvegasliving9237]

Zenith plan, Blue Heron. Top of the line home here in Las Vegas.

[@lasvegasliving9237]

@@jftuvell Yes, beautiful home.

[@paulman246]

Big question. With Homeowners Insurance already out of control, how will the loss of so many homes in Los Angeles affect insurance for ALL homeowners in the US and Canada?

[@pinschrunner]

Spreading the risk

[@lasvegasliving9237]

It will likely create higher costs over time for many homeowners.

[@dannycohen4471]

It may lead to a nationwide correction with CA getting hit hard!

[@lasvegasliving9237]

@@dannycohen4471 Very true!

[@RepresentYou]

I think there will be a retraction in due time. The math doesn’t make sense and unfortunately there’s going to be pain for those who bought at the top. The average person has felt the pain for way too long so there will be a balance.

[@lasvegasliving9237]

Good point, let's see how it plays out.

[@eddyeroyal6024]

Why would you only 2 bedroom and 5 bath

[@lasvegasliving9237]

It's actually 4 bedrooms.

[@nadruik9890]

Prices becoming reasonable unfortunately won’t be from Americans selling their primary or secondary home for a bit of a deal. We need the investors and corporations to get scared away and start cashing out losses. If that happens the average American will just be chasing the prices to the bottom trying to get out. If that happens or not who knows.

[@lasvegasliving9237]

The overall real estate market is becoming completely unaffordable for the majority of people. Unless you're a wealthy homeowner, high income earner or an investor/corp, you will likely be priced out of the market over time.

[@chemech]

There are a couple of factors at work in Southern California after this year's rash of wildfires... in some ways a worse level of destruction than was experienced in October of 1993, when the Kinneloa fire last burned through the area affected by the Eaton fire, and a major fire swept through Malibu adjacent to this year's Palisades fire. There is the basic issue of supply and demand - several of the burned out neighborhoods were highly desirable and had very little inventory on the market before the fire...the destruction of thousands of homes will drive up prices due to the massive decreases in supply in these locations. Counterweighing this are government issues driven by politics and wealthy real estate interests. Fire insurance was headed for a crisis before the fires - insurers and the state were at loggerheads over being able to profitably provide fire insurance within the combined regulatory and risk situations. Insurers had been canceling policies, and some homeowners went over to the California FAIR plan, with reduced coverage at higher premiums. Other homeowners without mortgages dropped out of the insurance market when their carriers refused to renew coverage. This situation is going to get worse, as the definition of a fire risk area is going to by necessity cover much more area than before. The insurance crisis is going to affect rebuilding. The risk environment has deteriorated over the last 30 years, as a variety of environmental rulings and consent decrees to settle lawsuits brought by environmental activist law firms resulted in abandoned fire trails and access roads, reduced or even discontinued brush clearance - including the near abandonment of controlled burns, and water policy problems leaving reservoirs with little inventory, or even dry. Now, if those issues can be resolved in manners which allow homeowners to rebuild, we come to zoning, permitting, and construction issues. The permitting and zoning issues are also messy. Single Family Residential (R1) zoning is under attack - effectively ruled out for new construction in many local authorities, ostensibly to combat housing shortages, homelessness, and Global Warming.. Building & Plans departments were never staffed all that highly before, relying upon as needed contractor engineers for plan chaecking - now, in the burn affected areas, the projected demand for plan checking is really going to exeed the available staffing and contracts. Expect delays. Reconstruction will be required to conform to the most recent building code. While there are some seriously desirable aspects of the code version of 2008 (fire and seismic safety), after that date the requirements for environmental compliance - energy efficiency, aka Global Warming - have introduced increased costs for labor and materials. Tied in with zoning, there will be serious pressure to build 80 units per acre condominiums where 8 to the acre SFR houses once stood. And, assuming that permits and funding can be pulled together, contractors and materials will be less available than the market will demand for some time... expect increased costs, more quality issues, and more lawsuits. Lots of aspects will be in play - it remains to be seen how they all resolve.

[@lasvegasliving9237]

Superb insight! Thanks so much for sharing that!👍🙏

[@dannycohen4471]

I’m in the insurance business and with the new legislation, insurance rates will skyrocket. Reinsurance rates nationwide may also be a problem.

[@lasvegasliving9237]

@@dannycohen4471 There is no question this is going to happen, especially in California.

[@jimmyamico4713]

Outstanding video, Jerry🇺🇸🙏👍

[@lasvegasliving9237]

Thanks Jimmy!👍

[@daboss6385]

Prices in Las Vegas prices have to go down just look at the inventory for Clark county in addition to preforclosures the city is headed for a bad fall. They never want to talk about the pre forclosure numbers which are ridiculous now

[@juanlopez-d4z]

a state that's whole economy is based on discretionary spending- in a time of record high inflation- most american are pushing their pockets to the limit as is. So yeah, this makes sense.

[@lasvegasliving9237]

Yes, things are changing and we could see a correction in the coming months.

[@lasvegasliving9237]

@@juanlopez-d4z It is but we have wealthy buyers and investors that are allowing this market to stay afloat.

[@daboss6385]

@ it only makes sense. Love your content

[@lasvegasliving9237]

@@daboss6385 Thank you!🙏

[@Hearmorestories]

Jerry pls pair congruent data points... rise in inventory levels needs to be paired with long term avg inventory levels to be a meaningful data point. Thanks much for all your efforts!!

[@lasvegasliving9237]

There's no way to do that regarding inventory levels because of all the building going on. Thanks for the support!👍

[@williamwilson9283]

👍

[@lasvegasliving9237]

Thanks👍

[@DesertRider329]

A lot of senior LA Wild Fire victims are moving to beautiful west Bakersfield 93309 so they can stay within a couple of hours from Pacific Palisades, hoping to eventually start rebuilding in the area. There are a few modest homes in the senior Kern City area where homes go between $300K & $450K in a country club setting, golf course, restaurant, swimming pool, club house, social activities. And lots of shopping (Home Depots), don't stress a very relaxing community.

[@Boots_And_Slicks14]

I've never heard the words "beautiful" and Bakersfield used in the same sentence.

[@DesertRider329]

​@Boots_And_Slicks14 I guess you live in East Bakersfield where all the low income people live, but on the west side of Bakersfield, we enjoy the good life, you're right I wouldn't live on the east side of highway 99 which is a much older part of town. Kern City is a seniors community lots of good descent people who enjoy retirement.

[@Shipwreck8l8]

Huge lots new builds, custome homes. All Bakersfield needs is direct flights to Vegas and Bakerfield will boom.

[@Boots_And_Slicks14]

@ You guessed wrong. I'm nowhere near there. Lol.

[@DesertRider329]

​​@@Shipwreck8l8 Good point, Santa Maria has Allegiant Airlines flying to Las Vegas daily and they have a smaller population than we do! BTW, BAKERSFIELD, is getting a new "Hard Rock Casino and Hotel" just 30 mins south of our city at the end of the yea. I drove out to Eagle Mountain Casino on New Years Eve to see "Robin Thick" performance and I will never drive the 55 mins on single lane highway 65 late at night again, very scary drive. I can't wait to have this new venue just down the road.

[@Resmith18SR]

Jerry's phone is ringing off the hook with people who lost their homes in Pacific Palisades. He tore himself away from the phone just to make this important video/ commercial.

[@lasvegasliving9237]

Thanks.🤷‍♂

[@FuzzyFromYT]

For the 2nd house, you conveniently left out them buying it for 770k in 2022. So 770k to 865k in 2 years! Not worth mentioning that to those you’ve been telling to wait over that same period?

[@clintonanderson751]

Upvote for Jerry to talk about this comment in his next video 👍

[@Daniel____DiJ]

The issue is Jerry, like many, many "doomsday" channels, are captured by their audience. They demand he cover what they want to hear or else they downvote/flame the comments/unsub. His audience, and just look at the comments to verify, only want to be told to "just wait it out, now is not the time to buy" to ease their pain of not being able to buy into the market and fear they may have missed the best time to buy.. they gobble that up, without any critical thinking.

[@jcdebbs]

You guys have a point but bottom line is that the housing market is hyper local. Lots of popular areas remain with a steady or moderate price increase in homes. There’s also several areas in places like TX or FL where prices have been dropping over the past 1-2 years. Toss in inflation and the fact that wages haven’t kept up for most of the population, even a 20% price correction still leaves majority of people priced out.

[@lasvegasliving9237]

They made a profit for sure but not nearly as much as they originally tried to make. That window was still open for homeowners to make a nice ROI but that did not happen for all homeowners. Many are now facing a reality check that those days are coming to an end as demand and appreciation drops.

[@lasvegasliving9237]

@@clintonanderson751 We'll see. Thanks!👍

[@scottyflintstone]

People from California calling you everyday? Pretty good indicator of increasing demand

[@lasvegasliving9237]

Definitely so!

[@bobbowie9350]

Jerry has no listings

[@lasvegasliving9237]

@@bobbowie9350 Get some new material pal. Getting old.

[@mxp2000]

I can verify that the homes for sale in Honolulu are increasing with the price of old cheaper homes hitting the low 400's. Prices are headed in the right direction but there's a very long way to go.

[@lasvegasliving9237]

A very long way to go!

[@Mz.Chingona619]

LV homes are still wayyyy overpriced. Especially for ppl to downgrade from SoCal to LV.

[@lasvegasliving9237]

These homes are worth whatever people are willing to pay for them.🤷‍♂

[@Mz.Chingona619]

@ Exactly why homes are just sitting. Most ppl are not willing to pay those inflated prices. LV is nice but prices are too high just like AZ & TX.

[@lasvegasliving9237]

@@Mz.Chingona619 Prices are quite high and things are starting to stagnate and change. If we have any hiccups with the economy, it could get ugly.

[@eddyrockusa]

If you're retiring, Summerlin Las Vegas is wonderful! Summerlin is the opposite of the Strip. It is the first People Friendly / Nature Filled Planned Communities - Designed by Howard Hughes. Check it out. My wife and I lived there for 5 years. She hates it -too hot. I love it. Dry heat, clean and new and Red Rock Mountains.

[@lasvegasliving9237]

Well said Eddy!

[@EndoMTB]

Also, homes here in Summerlin will always maintain their value.

[@lasvegasliving9237]

@@EndoMTB True.

[@jackeroo75]

And red rock casino!

[@lasvegasliving9237]

@@jackeroo75 That too!

[@timvincent2069]

Sunny is not sunny

[@lasvegasliving9237]

Okay

[@RonoTron01]

Wow, 2.4 mill, maybe Mel Gibson will buy it?

[@lasvegasliving9237]

You don't need to be a movie star to buy these kinds of homes. There's a tremendous amount of wealthy homeowners able to do it.

[@ProCoach2373]

Trade wild fires for summers that are clearly getting longer and hotter. That wouldn't be my first choice. Utility bills are increasing due to those factors and so is the duration of indoor time. Perhaps, many will make Vegas a short term solution. Meaning, until they can figure out their life there.

[@katydid2877]

Indoor time? Like staying inside cause it’s hot?

[@ProCoach2373]

@@katydid2877 Yep, longer summers in the desert result in more indoor time.

[@lasvegasliving9237]

Everyone is different.

[@lasvegasliving9237]

@@katydid2877 Good option in the summer here.

[@tims708]

I hope they stay.

[@lasvegasliving9237]

I think many will but a decent percentage of people will migrate to nearby cities like Las Vegas.

[@marc-ow7jx]

Their not coming to Las Vegas they still have San Diego County,Orange County, Riverside County,Palm Springs San Bernardino County, Santa Barbara and Central California and the bay area too choose from. The people who lost their homes were very WEALTHY and the ones who weren't wealthy are very well off people from California looking in Vegas are moderate to low income people that's why they are looking for a deal!

[@lasvegasliving9237]

They definitely have options to move into different areas of the state, but those prices are likely just going to go higher with this recent tragedy. Not everyone in that area was extremely wealthy or in the upper one percent. This kind of a disaster may really make people rethink living in California long-term.

[@marc-ow7jx]

@@lasvegasliving9237 for people to leave California in droves Vegas would have to get a BEACH! lol in addition to better weather and alot of green spaces such as Wineries etc but I can see few moving out here but not enough to impact the Market IMHO but great videos Jerry keep up the great work!

[@lasvegasliving9237]

@ I think you'd be surprised, the California exodus has been happening for a while and the fires are exacerbating it.

[@marc-ow7jx]

@@lasvegasliving9237 I moved here from L.A I go back on the weekends I rarely see any moving vans or U-hauls on the freeway headed this way just my observation! but great content!

[@lasvegasliving9237]

@@marc-ow7jx No offense but people moving from California to Las Vegas are not exactly driving U-hauls on the freeway with all of their belongings to move here. Thanks for the support.👍

[@EricMejia-t1s]

Jerry you should change your name to Debbie as your always telling us Downer news. Definitely look like Debbie Downer must be related to her, maybe her brother.

[@lasvegasliving9237]

I am!😎

[@kingdingaling9756]

Want to buy a house? Make more money $$$ pretty much how things are and will continue to be in this country. Start a business and start investing if you haven't already

[@lasvegasliving9237]

True but easier said than done.

[@kingdingaling9756]

@lasvegasliving9237 agreed. Nothing in life worth having is easy

[@lasvegasliving9237]

@@kingdingaling9756 Very true!

[@InvestingWithAdamK]

Interesting concept from a realtor I work with who is in California in areas affected by fires: Rents have gone up with rental demand but home prices less than expected. She attributes it to two groups in the area. The very wealthy who have other properties can move to their other property and wait it out, as well as a group who bought years ago. Many who got in long ago saw prices go up but can’t really afford to buy so need to rent.

[@lasvegasliving9237]

Good insight and true!

[@khonzi4266]

Wow, we were in the negative this time last year with inventory. Maybe there is hope.

[@lasvegasliving9237]

Possibly, we'll see how it plays out as we go through 2025.

[@BREEZYM6015]

There's hope with a beautiful woman like you.

[@sambistabeauty]

This guy is gamifying people's lives with real estate and ignores his obvious connection to ppl living in their cars. You can't expect ppl to just buy buy buy like prostitutes. Eventually, we bail out and come up w alternate lifestyles to compensate for real estate ppl like this guy

[@lasvegasliving9237]

What you fail to realize is I have been providing data each week to my audience, cautioning them on whether or not they should even buy a home based on that data. The unfortunate reality is that the real estate prices are not dictated by average or below average income earners. Most of this market is dictated by higher net worth individuals, homeowners, investors and high income earners. Your comment makes no sense if you watch my videos.

[@dougd9944]

Jerry are you related to Kevin?

[@lasvegasliving9237]

Kevin?

[@j.l.salayao8055]

Kevin Costner???

[@dougd9944]

@@lasvegasliving9237 Abbott

[@lasvegasliving9237]

@@j.l.salayao8055 🤷‍♂

[@tenajones2841]

Californians will rebuild if they have the time and finances. No need to go to Las Vegas when you can live in Ca. Why would you?

[@lasvegasliving9237]

Because a lot of people are tired of the politics, taxes, homelessness and the constant fire threat. This kind of a tragedy may make people really rethink living in California long-term.

[@tenajones2841]

Good points. And for those that feel Vegas is a better fit for them, it’s great they make the decision to make that move. Vegas certainly has their issues as well, and many people regret their hasty retreat. We’ve been going to Vegas for 50 years and it’s certainly changed has changed as well, not always to the better.

[@lasvegasliving9237]

@@tenajones2841 Each person/family is different and the fires will certainly make a lot of people think hard as to whether SoCal is worth it at this point.

[@tenajones2841]

@@lasvegasliving9237yes, horrific for sure. It’s funny though how many millions of residents do not live in high fire areas in Ca. Vegas is a great choice for a lot of people but boy, they need to do their research on Vegas before moving there-like any other state. With LV inventory rising at new record levels, seems not everyone is excited to stay for whatever reason. Everyone needs to make their own decisions and move where they’ll be happy, but let’s not “trash” the state you’re leaving. Sounds like sour grapes. Love your videos.

[@lasvegasliving9237]

@@tenajones2841 I understand your viewpoint, but the demand in Las Vegas is still very strong. I was just at an open house that cost $2 million and there was an endless stream of people coming in and out. The high income earners and wealthier homeowners are the ones that are really dictating the prices and a lot of people who are long-term California residents are definitely seeking Las Vegas as salvation now because of the constant problems in SoCal.

[@robertmartinez1228]

Jerry,What do you think of the Trump Administration right now? hopeful.

[@lasvegasliving9237]

I try not to get too political but it's too early to tell what ultimately will happen with the new administration. Time will tell.

[@DallasHVac]

@@lasvegasliving9237good answer, getting political will loose you subscribers and potential customers. Plus it’s refreshing not having to hear them on your channel

[@lasvegasliving9237]

@@DallasHVac It is refreshing!🤞