Las Vegas Homes For Sale - Pathetic!

[@lasvegasliving9237]

Home prices throughout the US, particularly in Las Vegas, have become cost-prohibitive for the average buyer. Record-high home prices combined with elevated interest rates have made monthly mortgage payments unattainable for many. This affordability crisis is creating a ripple effect, with diminished demand forcing sellers to adjust. On popular platforms like Zillow, many who initially overpriced their properties are now slashing prices to attract buyers, reflecting the market's instability. In markets like Las Vegas, the number of overpriced homes has highlighted just how unaffordable housing has become. Even with price reductions, Las Vegas homes for sale remain out of reach for most, revealing a pathetic imbalance between income levels and housing costs that continues to plague the market. 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

[@renardfranse]

With the influx of liberals fleeing commiefornia into Vegas the home prices will continue their upward surge. This is both good and bad. As the idiot governor continues to completely RUIN CA, the migration will continue. Actions like this completely distort the situation and keep prices inflated. I bought a 500K house in 2020 and it is now floating around 730K. I bought a house here to LIVE IN and I dont see it as an investment. I escaped NJ with my prior house of 670K and 24 THOUSAND in property taxes. Being retired this was THE BEST decision in my life. I am in Trophy Club off Paradise Road. Primack (now defunct) was a pretty good builder. I lucked out. I dont have the answer as to when the housing situation will normalize, BUT with the recent real estate ruling regarding commissions and the current state of the market, my heart goes out to real estate agents. I bought my house sight unseen and my agent went abbove and beyond to help me ascertain the condition of my present house. I GLADLY paid him 3% to do the extensive legwork for me. I know it as a real gamble, but it paid off for me with his help! As you know over 50% of so called agents left the venue. Winnowed the crop so to speak. My agent was worth EVERY PENNY! Mike McNammara. I can recommend him HIGHLY!

[@TuPadreHDTPM79]

My home has only gone up about 40,000 since 2021 it’s worth around $380,000 in N Vegas in 2024

[@sawtoothbygeorge]

When I was in real estate In the early 1980's. It was not a good time for agents. There was countless ads rent to own. It was a joke to even consider.

[@lasvegasliving9237]

@@sawtoothbygeorge Very different times now.

[@sawtoothbygeorge]

@@lasvegasliving9237 Yes, the time is much worse now, but rhymes with the time in the past.

[@michaelwyman1187]

I am sitting on the side, waiting for the right price in (North) Las Vegas. I look forward to your videos every week, and listen to every one. Thank you for your work Jerry!!

[@lasvegasliving9237]

I appreciate the kind words and support Michael!👍🙏

[@BREEZYM6015]

What area in North Las Vegas are you looking at? I bought a townhome last year on Jones near Vegas Drive. It's not a bad area.

[@jeffintacoma]

Don't hold your breath. the author of this video is beating a dead horse. Prices are what they are.

[@RasiRobi]

@@BREEZYM6015that’s the hood ?

[@magicman47999]

​@@jeffintacoma instead of sounding like a complete moron, expand on that. Prices are what they are because?????

[@jethrotoll457]

Jerry, thanks for straight talk and frankness about the greed driven real estate market. Sellers are finding out that their obscene and frankly ridiculous prices do not equate to value. Well done sir! 🤠

[@lasvegasliving9237]

Thanks so much for the support!👍🙏

[@paulradzwill]

This is so sad. Great channel, thanks for keeping us educated.

[@lasvegasliving9237]

Thanks so much for the support Paul!👍🙏

[@BREEZYM6015]

I bet you get tired of having to spell your last name.

[@Steven-zj2yw]

These home prices are on mars. Absolutely delusional pricing I’m seeing in Vegas still. Only way I’m buying a home is at $100 - 120,000 less than the asking price. And Jerry would be my realtor for sure.

[@lasvegasliving9237]

No kidding! Totally crazy! Thanks for the support Steve!👍🙏

[@kermicgreen3370]

i agree Jerry would be my realtor also. I wouldn't trust anyone else.

[@lasvegasliving9237]

@@kermicgreen3370 Thank you so much for the kind words and support!🙏👍

[@sawtoothbygeorge]

30% debt to income ratio is an excellent rule to follow. Homes are extremely overpriced.

[@lasvegasliving9237]

Homes are massively overpriced compared to lagging wages.

[@BREEZYM6015]

You can't even do the 30% renting. For me that would be about $1,000. Where am I gonna find a place for that price. 😂

[@googleuser3316]

I recently made an offer on a home in Clark County, it was a double wide that needed obvious major work. As with most homes in the area, the asking price was inflated. I had good reasons and comps to justify my all cash offer that was 75k below list price. It got rejected. Property has been ok the market for months now. Deceptive & delusional listing agents (and sometimes sellers) who aren't in touch with reality hoping to find a sucker to overpay for a home.

[@lasvegasliving9237]

Unfortunately, most sellers are very stubborn and spoiled from the last few years of extreme home price appreciation. That will likely continue until more reality sets in for sellers.

[@googleuser3316]

@lasvegasliving9237 Some definitely are. If I were a listing agent I would flat out refuse to list a property that's astronomically priced.

[@lasvegasliving9237]

@@googleuser3316 There's a lot more emotion than logic being used in many instances.

[@googleuser3316]

@@lasvegasliving9237 Yeah. That's why I said delusional in my initial post.

[@jacobr9556]

Inflating prices should be illegal. Thanks for educating people about it. We need more honest real-estate agents like you !🙏

[@bigscores7237]

Price gouging is illegal. Anything beyond that inhibits price discovery. You don't want to live in a society that systematically inhibits price discovery.

[@mikebravo4545]

@@bigscores7237exactly many people speak without thinking

[@lasvegasliving9237]

Thanks so much for the support Jacob!👍🙏

[@lasvegasliving9237]

@@bigscores7237 True, fine line between capitalism and absurd greed.

[@BREEZYM6015]

​@@bigscores7237I've discovered lots of prices and I don't like the increase. 😂

[@AngiesAnticsandAdventures]

We purchased our Henderson home in February of 2020 for $562,000. According to Zillow as of today it is now worth $853,700, and this does not include the indoor and outdoor upgrades that we’ve made on the house since Zillow isn’t aware of them and doesn’t list them. We have had neighbors with similar upgrades sale for more.

[@lasvegasliving9237]

Wow, good for you but. not so much for new buyers.

[@j.l.salayao8055]

Howdy, fellow neighbors in Henderson! My wife and I recently closed on our new built home within Lake Las Vegas for under $600k. We lived in our RV for seven years to be where we are today. We know the home we have won't be affordable for us down the road if we wait for few more years. We are in our early forties and we hope to living in our home past our retirement years, God wills. Stay safe out there, too many Californians and Nevadans too in a hurry to go somewhere.

[@lasvegasliving9237]

@@j.l.salayao8055 Good for you! Thanks for commenting.

[@mrchad97z49]

It's so ridiculous to see the widespread greed.

[@lasvegasliving9237]

It's in every part of every industry. Sad.

[@lasvegasliving9237]

@august-first-2025 The old days are definitely gone forever.

[@mikehayne538]

The $300 plywood and stucco houses running air conditioners and ten feet away from the neighbor's house!

[@lasvegasliving9237]

Homes are built in close proximity to each other in Las Vegas.🤷‍♂

[@seannotaro473]

Excellent Jerry....appreciate it..

[@lasvegasliving9237]

Thanks Sean!👍🙏

[@BoulderCityBlues]

The economy was propped up because of it being an election year .In spite of the excitement of the new administration coming in they are going to get stuck with all the mess this last administration left . In my opinion there is going to be a lot more pain before we see any gain and nobody should be buying any big ticket items until at least mid 2025 or beyond .The housing market is going to see a flood of homes coming on the market soon .

[@lasvegasliving9237]

Agreed. The endless consumer spending is going to catch up to a lot of people, especially if we see an economic downturn.

[@stella-gx8ne]

Thanks to MAGA the pain will be brutal. How’s about them eggs??

[@TuanNguyen-yc4wz]

Good Morning Brother Jerry Realty Estate. Good NEWS 👍👍👍🇺🇸🇺🇸🇺🇸⭐️⭐️⭐️🥰🥰🥰

[@lasvegasliving9237]

Thanks for the continued support Tuan!👍🙏

[@thomasfranco5997]

I have seen homes in the Palm Springs area. There are some homes that are updated and are high-priced, but some were built in the 5O's. I stay away because you don't know what kind of problems you may have for having a house that old. Especially plumbing, and you know how much that cost. Thanks Jerry, you are the best! Happy Holidays. 👍✌

[@lasvegasliving9237]

Thanks for sharing and the continued support Thomas!👍🙏

[@MyWitsEnd190]

My friend bought a cute little 2 bed 2 bath cottage in the Midwest for 125k back last year...at a 7%, but the cost was worth it. 127k for a down payment on average!?!?!?! Get outta here!!!! Not you, just the whole system needs to get out! Please don't do it if you are thinking about it right now. Please, take a breath and hold off until this whole bubble bursts.this is outragous.

[@lasvegasliving9237]

The 127K amount is for the higher end cities, lower in other cities, but still outrageously high. Unfortunately, when it comes to real estate, it is quickly becoming unaffordable for the vast majority of people. A lot of people are hoping for a crash but real estate prices are likely only going to go higher over time.

[@ChadLusk-t8m]

Thanks, Jerry. I appreciate all your information.

[@lasvegasliving9237]

My pleasure! Thanks for the support Chad!👍🙏

[@InvestingWithAdamK]

89117 is very difficult to get those types of prices unless in some very small areas where the other properties can get that much. The whole point of 89117 is you can get a little land and some square footage for inexpensive (in comparison). Interestingly enough, I've seen a big pick up in transactions at our company. I don't know if you've seen similar.

[@lasvegasliving9237]

Many of these sellers are simply reaching for the stars and trying to find reckless buyers. I'm not sure if it will continue but it's been pretty crazy to see where Las Vegas home prices are nowadays.

[@syedullah613]

Last few months, Most of the sales in my area are 1033 Exchange All over 1.3M are empty 91789. A lot of old Chinese Cash money

[@lasvegasliving9237]

That's another big issue with foreign investors and buyers that have a lot of money that are creating much higher home prices for people here in the US.

[@Nihilist1974]

Absolute insanity!

[@lasvegasliving9237]

So true!!!

[@BREEZYM6015]

Bonkers! 😂

[@RebelMontana]

With the current interest rates being high, it pushes a lot out of their price range. It’s identical to the car market. With reports of layoffs and market in volatile mode, it’s hard to predict what going to happen.

[@lasvegasliving9237]

Very true and I think we will start to see a cyclical downturn as we had into 2025.

[@topazsunbelt5458]

Jerry, thank you for honesty and truth! And great advise to stay vigilant especially now in real estate.

[@lasvegasliving9237]

Thanks so much for the support!👍🙏

[@stargazer3828]

Considering the tariffs and mass deportations from the next administration along with China's tariff retaliation against farmers in the US, things are going to get more expensive all around and I am not purchasing any big ticket items under those circumstances. I'm so glad I bought my home in 2021 with a 3% mortgage rate!

[@lasvegasliving9237]

Good for you! Let's hope it doesn't get worse!🤞

[@maddysdaddystevem563]

No, China is screwing us with high tariffs because we allow it. They’ve already said that they are looking forward to partnering with us because they know that they need us a lot more than we need them.

[@JohnnyJolter69]

What happened? The average wage is 50k to 80k - which qualifies for about 300k home with 20% down - the average home is 500k plus - houses have become unaffordable. The End

[@lasvegasliving9237]

It can all be blamed on the pandemic. It started a domino effect on the entire economy, which ultimately led to a massive lack of affordability across all sectors of it while wages lag far behind. Funny how that works.🤷‍♂️

[@jtiger1062]

Always enjoy the updates keep up the good work

[@lasvegasliving9237]

Thanks so much!👍🙏

[@bbustin1747]

It would be nice to demonstrate how much interest you will be paying on your overpriced home vs principal and how it is reflected based on the size of your down payment. Then …. Based on what that would be as these owners now seeing the light reducing their prices by 100s of thousands. How much they will be saving over life of the loan. I really think people cant visualize just how much they are paying as they are always looking at the monthly payment amount. Saying that … I think the speed and quantity of price reductions will accelerate. 2025 is the tipping point

[@lasvegasliving9237]

The amount of interest people are paying on these 30 year loans is staggering. People only care about the monthly payment because they need a place to live and they're willing to pay it every month as part of the American dream even though they're getting raked over the coals by the banks and the interest.

[@djplurboy2000]

Good information 👍🏽 👌 👏 thank you

[@lasvegasliving9237]

Thanks so much!👍🙏

[@Turboalex23]

Bought my home in 2010 riverside,ca for 175k people dont understand how hard it was to buy a home in 2008 to 2010 because every investor was buying homes cash. I put 50 offers n it took over a year to get it accepted

[@Turboalex23]

My home is worth 500k to 560k now but I never plan on selling I made garage into man cave n split living room n made it into a room that I'm renting out. I almost gave up it took 3 agents to get my offer accepted fha loan now I refinanced to conventional rates at 3.375

[@lasvegasliving9237]

Good for you as I'm sure that has worked out well for you in the long run.

[@lasvegasliving9237]

@@Turboalex23 Good for you Alex!

[@robnowe5464]

It appears they bought the home @ 9:34 for ~$338,400 and raised the price 77.2% and have now dropped it twice to only a $160,000 gain... from an initial ask for a $260,000 gain. Not sure of these numbers but they should be close.

[@lasvegasliving9237]

Yes, that is accurate. Still will do well but not as much as they were hoping for.

[@IEraiderfan]

Thanks for the knowledge,stay safe.

[@lasvegasliving9237]

You too and thanks for the support!👍🙏🎄

[@John-Jay-Allen]

When I purchased the Home of my dreams in June, 2020 up in Lincoln County some 80 miles from Vegas , I only put 8K down on a 1999 built 3 story 2900 sq. Ft. On 3/4 of an acre where PITI is only 1K per month; 144K. It’s not what you buy; It’s Where and When(in my case during the shutdown) you buy that makes all the difference in home affordability. Current value; 350K.

[@lasvegasliving9237]

Good for you!👍

[@Phobophile56]

St. Petersburg, FL home, 800 sqft, bought in 2018 for $126k. Now zillow estimate is $259k. Crazy.

[@lasvegasliving9237]

Truly unreal just about everywhere in the last few years!! Thanks for sharing!👍

[@KevinSmith-bj2ic]

Jerry is still putting out true and honest content of the housing market. 👍 thank you for the continued data. For me, I will do like Mel Gibson said during battle in Bravehart, hold.. hold... hold......

[@lasvegasliving9237]

Sounds good and thanks for the support Kevin!👍🙏

[@TheeLynnChase]

Another great show! There is a former model home built in 2022, in a gated community with an infinite edge pool, across the street from the Lake Las Vegas Sports Club and Refection Bay golf practice area, surrounded by ponds and located by the water fall in The Falls area of the gorgeous Lake Las Vegas resort with access to riding/ walking golf paths that lead to the River Mtn. loop that is a 35+ mile loop to Boulder City and back that is priced at 119k less than a 20 year old smaller house that sold about 6 months ago. It's the least expensive pool home in all of Lake Las Vegas and it hasn't sold in going on 6+ months. It's bizarre. They are asking 610k and the 29 year old smaller house with a 20 year old pool, across the street sold for 729k. 119 thousands dollars more for an older, smaller house, but this nearly brand new pool home in Lake Las Vegas isn't selling???? It makes no sense, other than the interest rates make the payment unaffordable. The home was purchased for 554k they are asking 610k. Nothing is selling even when priced correctly or lower than the area comps. In the actual community the most recent sale was 580k for a house that had no pool or landscaping to speak of and was a corporate owned house. A pool and landscaping costs at least 100k so this home is under priced and not selling.

[@lasvegasliving9237]

There is a lot of that going on here and other areas. None of it makes sense. Thanks for sharing that info and the continued support!👍🙏

[@rickmiller6770]

The HOA is a turn off. I think my realtor said there is 2 HOA'S in this comm. The pool was tiny.

[@TheeLynnChase]

@rickmiller6770 HOA is $80.00 and the master HOA for LLV is $153. not too outrageous when you compare the community to other communities that are not waterfall, multiple golf courses, riding paths, and lake communities.

[@rickmiller6770]

I apologize, the house I looked at was on Calcione dr. @ the Lakes. the HOA was $374 + another 200 Hoa HIDDEN FEE and the pool was tiny. I loved the house but it was too much with HOA.

[@TheeLynnChase]

@rickmiller6770 Thanks I was just going to add Pecole Ranch haas higher fees. And there is no comparison in the amenities to LLV.

[@thatShadowKat]

Just saw a video from 8News Now (it's also on KZbin) about condo and housing prices spiking up in November. Absolutely silly since the number without offers is also going up. Glad you were able to help your buyer!

[@lasvegasliving9237]

Prices are crazy and people are even crazier!🤪

[@AirJordan23DCH]

What's up Jerry, thanks for the shout out 👍

[@lasvegasliving9237]

My pleasure pal!👍🙏

[@CarlosSTech]

A normal appreciation should take a decade minimum. I bought my house July 2000 for 145,950 on eastern and robindale area and today after 24 years it’s worth 415,000. It took 24 years to build wealth and that’s how it should be not after 6 months like in this crazy out of control market. Another 2008 has to happen to correct this problem it’s not fair for our younger youth who can’t afford a home or qualify in this market

[@lasvegasliving9237]

That is what home appreciation used to look like but unfortunately, that is not the case anymore. I appreciate you sharing this information Carlos!👍

[@CarlosSTech]

@lasvegasliving9237 do you see the market taking a dive soon? I been speaking some real estate analysts and they are seeing a huge dive in the markets that had huge spike during covid. It’s crazy seeing new homes yea 1800 sq ft for 320-350k and they are including everything appliances even giving solar panels I saw in southwest area

[@robnowe5464]

Jerry. I law that immediately revalued the home at the listed sales price and required the property tax difference to be immediately due and accruing interest and required it to be paid BEFORE the house could be sold would end outrageous asking prices. Antoher thing that would do it is removing all tax writeoffs for non-owner occupied SFHs and Townhomes and Condos.

[@lasvegasliving9237]

That's definitely more wishful thinking than reality. That simply won't happen.

[@Mr.Moose_777]

Utah's housing market is in the same boat. Homes sitting for almost a year now, and new communities sitting vacant. But yet sellers and builders believe they can price gouge. These homes were $300k - $400k homes 4 years ago. Now they believe they are $800k+ homes. Not even close. Your mortgage would be between $4500-$5000/ month. Insanity. There are definatley price reductions but it will be a slow burn. Patience from buyers is what will bring these home prices down and NEGOTIATING! Every buy should be negotiated to the minimum price reducing comps everytime in that area. Be smart out there, patience and strong negotiating tactics will win this game.

[@lasvegasliving9237]

Thanks for sharing that information. Buyers need to stop buying so recklessly in order for this madness to stop!

[@travelguy1564]

Good luck getting your property taxes to come down! New buyers may get a reduced house price but screwed by ongoing annual immensely high real estate taxes.

[@lasvegasliving9237]

@@travelguy1564 That is likely true.

[@Mr.Moose_777]

@@travelguy1564 Agree 100%. Property taxes is a whole nother ball game of fraud, corruption, and greed. Only way to get them reduced is to have the ability to show lower comps in your area. Which means selling houses at lower prices. Even then you will have to watch them closely and contest them each year. Stay smart out there, and God Bless.

[@leavingcasoon4859]

I'm waiting for reduced interest rates under < 6%😂. Been renting in L V. After selling my CA. Home. 4+ years of higher yearly rent increases. Now Buyer (me) is forced to pay seller agent and my agent fee. This unexpected extra 2.5% add on few upfront can't afford 20%Cash down., plus all junk fees. What are the options to negotiate Seller to pay buyers agent,?

[@lasvegasliving9237]

There are several options for the buyer to not have to pay any compensation to the agent. Reach out to me direct for more details.

[@leavingcasoon4859]

@lasvegasliving9237 I will do so Jerry. My Chateau Versailles condo rental expires in June 2025. My plan is 20% down under $400k. Need that,%rate to decrease ... I love your informative Vids.

[@lasvegasliving9237]

@@leavingcasoon4859 Sounds good. Reach out direct when you are closer to your move.

[@tiaterlaje]

If I had 100K+ "down payment" -- I would assume a mortgage.

[@lasvegasliving9237]

Not really an option for most purchases nowadays.

[@nick.florez]

Thank you for your stream, I find it very interesting and entertaining. Home prices are incredibly high and coupled with high interest rates, home ownership is out of reach for most people that do not already own a home. Unfortunately, there is no data that prices, in Las Vegas, are going to decline anytime soon. Facts are home prices is Las Vegas/Henderson are up 6.6% month over month and 4.0% year over year according to Redfin.

[@lasvegasliving9237]

Most people have a hard time seeing around corners and continue to think this will go on forever. It won't, at least without first seeing a correction. Everything is cyclical. Thanks for the support!👍🙏

[@SurfSarge]

Looking fwd to the future video with a positive Headline..LoL!

[@lasvegasliving9237]

Lol...one day!😎

[@DougBossi]

Keeping it real thx Jerry you da man!

[@lasvegasliving9237]

Thanks Doug! Always appreciate the continued support my man!👍⛳

[@tammygeathers8169]

I'm planning on retiring next year and planned on relocating to Las Vegas. I'm sure that I'd get a good deal on my home, but buying there ( anywhere) would render the purchase moot. I'll sit this buying a home 🏡 in Vegas or anywhere out. Just not worth it.

[@lasvegasliving9237]

Okay, thanks for watching and commenting.

[@sunnienie239]

i was just wondering anyone in America now a day afford to buy a home especially California i didnt realize LV home price went up too ..the weather very hot SD where i live the weather is just perfect i'm LUCKY to purchased my first property in the right time ' 2000' 2008' 2009 the last property i purchased 2011 thanks GOD

[@lasvegasliving9237]

There's a lot more money out there than you realize.

[@mtshasta4195]

Housing in Vegas on the whole continues to appreciate period! There's always a deal somewhere, but great neighborhoods are only going up!

[@lasvegasliving9237]

Over the long-haul, yes, that is very likely going to happen.

[@rattanack1413]

May you make a video on what neighborhoods you would buy a home if you had to in this market ?

[@lasvegasliving9237]

@@rattanack1413 That's hard to do as each area/neighborhood is quite different from each other and it also depends on price point, various areas of interest, etc.

[@robertcampbell8275]

Another great informational video

[@lasvegasliving9237]

Thanks so much Robert!👍🙏

[@jackcovington645]

Who can afford such incredible down payments? This cannot continue. It is that simple.

[@lasvegasliving9237]

Homeownership is quickly slipping away from the middle class. Sad.

[@BREEZYM6015]

Depends on the home. I bought a 2 bed, 2 bath townhome in Las Vegas last year for $203,500.

[@John_GGG]

The first house highlighted had the listing removed 12/4/24, again, after listing it, again, for two weeks.

[@lasvegasliving9237]

Yeah, not sure what is going on with that one.

[@nick.florez]

Jerry, thank you for your channel. I am considering selling my Las Vegas home and have discussed the selling price with a potential relator who is advising me to start higher than market so that the price can be reduced. His experience is that all initial offers being received are currently 2-5 % below list, which mirrors your advice to never pay asking price. This process of listing high so that price reductions can be shown on the listing does seem to be playing out by the examples shown on your videos. I had originally intended to list the property at or even slightly below market (to induce multiple offers), but am now thinking the best approach is to start high and quickly make 3 - 4 reductions in three or four weeks so that those making offers feel that they are getting a good deal or for those "waiting for the price to drop". This does appear what is going on in the Vegas market and explains the dynamic shown on your videos.

[@lasvegasliving9237]

This is unfortunate to hear with these underhanded sales tactics from some within the industry. I would never price it high and reduce down (especially at this time of year). Pricing it right from the start is far more advisable IMO. Appreciate the support Nick!👍

[@danieltres6824]

Up the street from my house in San Diego Ca. Someone has bought a house for 899k 1.5 years ago. Put it back on the market a few weeks ago and no renovations has been done and now is selling the house for 1.1 mill. Eeeek😂

[@lasvegasliving9237]

Real estate has completely gotten out of control ever since the pandemic. We're either going to see a large correction or homeownership will ultimately only be for the 1% club.

[@davidmajer3652]

People who claim to read crystal balls learn to eat glass. It is all but impossible to predict the future consistently. It seems like there are a lot of bubbles out there, if one breaks, all asset classes will suffer. Right now, incomes are not exclusively paying for a house. It is repositioning wealth that is causing high home values. A stock market crash will dry up that wealth with the result of lower home values.

[@lasvegasliving9237]

Good insight and I agree with you because homeownership is no longer a possibility for the majority of average income earning people. It has quickly become a case of the haves versus the have nots and I don't see that changing anytime soon.

[@BREEZYM6015]

Have you eaten glass? I wonder if it's bad for your health? 😂

[@NoDaysOff-oz2zl]

In my town, an old house was torn down and a new one was built that looked similar to the rest of the neighborhood. New home is $519k. Everything around it maxes out their Zestimates at $270k. New home has a postage stamp yard, shared driveway, unfinished basement, and an external garage. That ain't gonna sell.

[@lasvegasliving9237]

It probably will knowing how crazy all of these buyers are nowadays.🤷‍♂

[@TheeLynnChase]

Zillow will not give a real Zestimate on Off market properties. You have to list it. Then the Zestimate will come in just under whatever the list price is.

[@lasvegasliving9237]

@@TheeLynnChase The zestimates are getting better but still off quite a bit in many instances.

[@jamesgullo8240]

I dont think the renovation cost 1.8 million dollars. 2.4 million asking price is nuts.

[@lasvegasliving9237]

Completely nuts!🥜🤦🏻‍♂

[@StarCarlton]

One of the houses in your video at 7:12 was purchased in 2016 for $550K and is now listed at $1.2 million. What do you think a fair increase in price would be for the house mentioned being owned for 8 years?

[@lasvegasliving9237]

I'm not sure which home you referencing as that is not an example at that particular timestamp within this video. Regarding your question, it's nearly impossible to know what the current value would be without after 8 years of ownership without first seeing the actual home and checking the surrounding comps.

[@196940oz]

The new builds are giving buy down interest rates bc they are cooperate(TheGreedy)…But resell homes are 7%. They’re killing resell people(homes)boxing us out on purpose for greed. I saw a new build for 1500sf for 645, 000.00 but a 3000sf resell for the same price plus 7% no buy down of course. Major home builders are making all the money period. I guess this the American way. 🤮

[@lasvegasliving9237]

Very good point and great insight. Shows you just how much home builders are making when they can buy down rates that much.

[@j.d.m.3287]

another good one, Jerry.... Do you have any document showing "corporate" purchasers of single family homes..? Not particularly investors, but, the big billion dollar corporations going around the country buying homes... I hear and see snippets of information and wonder how much truth there is to it.

[@lasvegasliving9237]

It's hard to pin down an actual number as to how many homes corporations and private equity firms own but I will be discussing this major issue in next week's video. It's big! Thanks for the support!👍

[@keystoneskiguy2718]

That Twin Palms listing was pulled immediately after you "featured" it, Jerry! Don't know if you have potential liability in some kind of defamation suit attempted by the owners.

[@lasvegasliving9237]

Lol...anyone is allowed to view these properties on public platforms/websites like Zillow and give their opinion. FYI, it was like that when I found it but I happened to see it for sale before they pulled it.

[@dmimcg]

Solution. don't live in Las Vegas. I moved to a private community in rural IL. Small house 2 bd, 2 bath, 1400 sq feet on 1 acre. Paid 120K for the house!. HOA for the golf course, lake, riding trails, clubhouse- $240 a month. Taxes are $200 a month. Life is good. #Galena IL

[@lasvegasliving9237]

Different strokes for different folks.🤷‍♂

[@whatthefred]

boomers and gen x have destroyed this country. thanks guys.

[@lasvegasliving9237]

They have profited handsomely while the younger generation is going to struggle in a very big way.

[@kevinmeraz6831]

Question if I want to buy a new build in las vegas would it be smarter to bring an agent or go by myself? Thank you Mr. Jerry

[@lasvegasliving9237]

Always bring an agent! Not having your own real estate agent is like going into a courtroom without having a lawyer. Always have representation. The sales agents that work for homebuilders work for those builders, not you (the buyer). Reach out to me direct if you need any help.

[@mikeshafer]

I remodeled my home in DC for $250K and when I sold it, after 7 years of ownership, I made a $200K profit. Which means I took a $50K loss. I remodeled it for me, not to make a huge gain. These Las Vegas people remodeling a home and then asking 3x the price are out of their goddamn minds. I am so looking forward to the LV market crashing back to Earth. Winter is coming...

[@lasvegasliving9237]

Completely agree! Total insanity out here and even worse are buyers actually buying at these prices!🤦🏻‍♂

[@BREEZYM6015]

Why did you sell it rather than waiting?

[@Yohoo272]

It’s all market driven.. Buy low sell high. Don’t hate the player, hate the game.

[@mikeshafer]

@@BREEZYM6015 I didn’t want to become a renter. I wasn’t trying to make a profit I just wanted to be out of the real estate game for now.

[@lasvegasliving9237]

@@Yohoo272 Facts

[@mehranyousefi4396]

Don't buy anything if you don't need them even shoes or clothes and so on

[@lasvegasliving9237]

Most people don't want to live that way.

[@50Krwy]

Whats crazy to me is a townhome near Centennial, that shares a wall and a 1 car garage, 400k. No fkin way. Same over here off FT Apache, 400k, basically an apartment. The market here is garbage

[@lasvegasliving9237]

That's absurd. Real estate in Las Vegas is out of control, getting like California.🤷‍♂

[@andre1987eph]

My rent controlled apartment in the heart of Hollywood CA is just $1040 a month - Thank You God.

[@lasvegasliving9237]

Good for you.👍

[@eugenebdotson7363]

This housing catastrophe will be worse then 2008

[@lasvegasliving9237]

I respectfully disagree.

[@zedalvea841]

Is this also happening to below median priced homes? I make above median income, but I can only afford for homes way below median price. So I assume there is more competition here than the luxury homes.

[@lasvegasliving9237]

It is happening below the median home price but not nearly as significant as some of the mid to higher level priced homes simply because there's more competition at the lower end

[@gloppy101]

I've been following Jerry for 2+ years now and love his straight up info and real world experience. I need help: I'm 74, retired (not willingly due to health problems) and looking to move to LV on the cheap with looking at a small condo or mobile home. I can pay cash up to $150k and with being frugal, hope to live off soc security of $1750. I'm running out of options. Do you think this is doable and what's the best, condo or mobile home?

[@lasvegasliving9237]

There are some options for you. Please reach out to me direct to discuss more details. Thanks so much for the support!👍🙏

[@marcbayarea1980]

Just move to a conservative southern state. That home would be $250,000 in my area.

[@lasvegasliving9237]

Easier said than done.

[@marcbayarea1980]

I moved from California to the south. It's very easy. You just have to want it badly enough. Las Vegas is a terrible place. Bad vibes all around. I have a brand new home with superior quality in an excellent area.

[@lasvegasliving9237]

@@marcbayarea1980 Okay, well everyone is entitled to their own opinion.

[@kellis773]

The rental business continues to stay strong, and I know it's not easy to afford a home. Naturally something has to change, although I don't think prices will drop enough to were it will make a significant difference on the affordability of a home for the average buyer that's looking to finance. For every $100k you finance it's still about $700 a month, getting a 30 year loan, using a rate of 7-7.5%. At this point in time, I see my rental business continuing to be good for the next several years, of course anything can happen. I betting not much will change over next 3-5 years.

[@lasvegasliving9237]

I agree regarding your rental business simply because homeownership is simply no longer affordable for the majority of people but I do think we will see a correction even though prices will only go higher in the long run.

[@lockup6104]

Mahalo Jerry 🤙🏽🤙🏽🌴🌴🍍🍍🌺🌺🎅🎅

[@lasvegasliving9237]

Mahalo pal. Happy holidays!🤙🌴🎄

[@TheIrvingsylva]

That first home is at least 1 million over priced…

[@lasvegasliving9237]

Agreed! Just absurd pricing from so many luxury sellers.🤦🏻‍♂

[@tims708]

Homes, cars, food. Its nuts. So many must be hardly hanging on.

[@lasvegasliving9237]

Millions are barely hanging on!😢

[@578sundriedAZ]

Housing market no different from Healthcare industry.

[@lasvegasliving9237]

Pretty much! Sad.

[@sawtoothbygeorge]

When you see ads in the media "rent to own" you know it's really a bad housing market.

[@lasvegasliving9237]

Agreed!!

[@NoDaysOff-oz2zl]

$2400 a month to rent a $500k house and no takers. Not good.

[@lasvegasliving9237]

@@NoDaysOff-oz2zl Yup.🤷‍♂

[@mikeshafer]

I do think we're going to see prices continue to fall in 2025 - even here in LV. Not just because the market can't justify these prices anymore, but also because a lot of companies (and government agencies) are forcing people to return to work which means people can't live anywhere anymore. There's a massive exodus in Florida happening right now also due to the extreme weather, skyrocketing property taxes and insurance issues - and of course returning to work. I think we're going to see a reversal of the housing situation that we saw during COVID as a result of this. I also think there's a chance we are going to hit a recession sometime in the September/October 2025 timeframe. It might not be a major crash, but a slowdown.

[@lasvegasliving9237]

Good insight Mike! I think we're going start to see some changes, particularly later in 2025, but there might be a lot of collateral damage if we fall into a recession. Time will tell.

[@davidkramer8858]

If this doesn't pop the bubble that we are in nothing will but 3 percent mortgage rates

[@lasvegasliving9237]

We'll see how it plays out.🤷‍♂

[@glennsullivan1970]

Hey Jerry, I know it takes a long time for the bottom of real estate to appear. Man it seems like the lag time is going forever. Probably it’s because this time is different then 08 we have hourly and daily updates on the market rather then no social media back then. Unless you were directly involved in real estate, boom the housing cash just showed up in 08

[@lasvegasliving9237]

This is a very different real estate market than 2008. I do not see a crash happening like we had back then. I definitely think we're overdue for correction but the economy and the market is much stronger and different than it was back then. Hard to know for sure when and how much the market will correct. Time will tell.

[@grllaspeak]

I have learned that unaffordable housing is a world pandemic. Canada 🇨🇦, Australia 🇦🇺 and America 🇺🇸 all three countries followed each other's path to destruction. Investors will own neighborhoods. Thanks again

[@lasvegasliving9237]

Sad but true.

[@TERRI19842]

Your better renting in the long run until another bubble burst.

[@lasvegasliving9237]

Some people would agree with that, some would not.

[@franka.7481]

Average home price is over 8 times the average income! Pretty sad I make six figures and having a hard time qualifying for a home in a decent neighborhood. Get the hedge funds and investment bankers out of buying single family homes. Homeownership and equity is the cornerstone for an average family to start building wealth and it's being taken away.

[@lasvegasliving9237]

It's complete madness! The fact that Wall Street and private equity have been able to invade residential real estate is stunning and should be completely outlawed. I will be speaking about this specifically in next week's video.

[@jazziez6467]

these prices will not last, the people with the best jobs are losing them everyday, these houses will crash when the greedy out of state investors go broke themselves from people not paying rent and destroying the property and house

[@lasvegasliving9237]

Everything is cyclical and I definitely think we're going to start to see that reversal heading later into 2025. We'll see how it plays out.

[@RichardSmith-yh2ek]

I bought a 2/2 condo in Garden Grove,CA in 2019 right before covid for 395k , now it's worth 600k , unbelievable 600k for a basic condo. I would never pay 600k for it.

[@lasvegasliving9237]

Prices have gotten really out of control since Covid.

[@plektosgaming]

To quote one of my favorite slot machines ( being that this is Vegas :) ) "Here we go!" The spiral down is coming very soon.

[@lasvegasliving9237]

Not so sure about that this time around. It has proven to be much more resilient this time around. Time will tell.

[@plektosgaming]

@@lasvegasliving9237 It's a combination of three factors, really. 1: Vegas is a boom and bust town by definition as it has zero natural resources or attractions/elements nearby. If this was Sim City, it would be a featureless plain ( as the mountains are largely state parks/off limits ). This means that everything comes from outside and little stays long term. Eventually it all returns to sand if you don't keep it up. 2: Investors by definition much make a profit. Once they see themselves not making profits or possibly going negative, they bail. There are over 120,000 corporate held and vacant homes. B&Bs, Snow Bird condos, time shares, rentals that are unoccupied, stuff that is held off market or the asking price is too high. When the collapse reaches here, it has nothing to stand on (See #1). Vegas is literally a house built of cards. lol. To those who understand it and stay long-term, this is all just fireworks and drama as usual. The economy will support some weight, but it's not built of stone, either. 3:The biggest factor is that when Vegas gets close to capacity, the BLM always opens up another large number of acres. In essence, Vegas won't ever run out of land until the urban footprint reaches to the California border and up into Pahrump. That's about 5-6 million people, roughly. Then it hits geographical and tribal land borders and the true value of the land skyrockets. IMO, probably around 2050. The next time the BLM opens land up ( this time likely in Jean - just at the southern edge ), it'll massively increase the number of places to build on. Shortage over, investors fleeing, opening up old inventory.. same as 2009-2010. The only issue is.. WHEN this tipping point comes. I personally think about Feb 2025. Then the cracks split open and the party is over for the fair-weather residents and investors.

[@DallasHVac]

What was the asking price for that house you just sold?

[@lasvegasliving9237]

$979K!!

[@Mikolay-x7]

Real Estate going to be fucked up worst than 2008 just wait for, nobody can fix this shit economy 😂😂😂😂😂😂😂😂

[@lasvegasliving9237]

I just don't see that happening. This is a very different economy and real estate market compared to 2008.

[@Mikolay-x7]

@lasvegasliving9237 The economy is just on paper, and the housing market is so expensive that millions of Americans can't afford expensive houses,but better building new homes than buying old and expensive houses 😅 🙃 😑

[@Stridermd]

Prices won't be going down for years. They're going to keep rising.

[@Mikolay-x7]

@Stridermd what economic university have you been? 1+1=2???or you are figure different results

[@Stridermd]

@@Mikolay-x7 what makes you think home prices will drop? More people, low inventory and lower rates is not a recipe for a price correction. All of those factors and more point toward a home price increase which is exactly what's happened over the past few years despite the higher interest rates. Prices will only go up unless the interest rates go up.... and that ain't gonna happen anytime in the next 3yrs. Housing doomers have been wrong for years now and are just looking for views.

[@rustybumperclassics6342]

Even that $499,000 is way too much. At best its a $250,000 house. Only worth wht someone is willing to pay.

[@lasvegasliving9237]

That's correct and a buyer will almost certainly be willing to pay more than $250,000 for this particular home.

[@RossVesci]

I’d love to see new construction

[@lasvegasliving9237]

Will do on a future video.

[@Whatisthis94]

Beautiful home you’re standing in front of

[@lasvegasliving9237]

Glad you like it!👍

[@Whatisthis94]

What neighborhood is that?

[@lasvegasliving9237]

@@Whatisthis94 New area in far west part of Summerlin.

[@Whatisthis94]

Thanks. Looks a bit like stone bridge. Pulte made this subdivision a few years ago. Love the floorplans for many of the models.

[@lasvegasliving9237]

@@Whatisthis94 Right near Stone Bridge.

[@edwardsteinmetz-gl3zl]

For the algorithm. It is still price, price, price.

[@lasvegasliving9237]

It will always be about price (and demand)!

[@rathelmmc3194]

That NLV house is worth like 250k. No way it's worth 500k. It sold in 2008 for 150k.

[@lasvegasliving9237]

No kidding! Prices are just simply outrageous at this point in Las Vegas.

[@ProCoach2373]

If the cost of living is out of reach where you live it may never change. Thinking that a market "should" be affordable is a victim mentality. There are 1000's of options out there where the cost of living is waaaaaaaaaay less. I believe as Americans we have become too comfortable. Relocation over history was often forced, not chosen. I don't think this inflationary situation is much different. My family and I found a nice mid-western town where we paid half for what we feel is an upgrade based on our current personal values. Vegas in my personal opinion is going down the crapper. Of course I've been here 25 years. The moral of the story is, look at your options! You may find a great fit!

[@lasvegasliving9237]

Most people would vehemently disagree with your viewpoint and your view on Las Vegas going down the crapper is absurd. It only gets more popular and populated over time with pro sports, Hollywood studios coming, the Sphere, no state income tax, etc. You shouldn't have to live in an area that you don't even want to live in just to afford a home. The fact that corporate greed has taken over and that Wall Street and corporations have been allowed to invade residential real estate is insane.

[@ProCoach2373]

@@lasvegasliving9237 Most people follow the herd off the ledge. Reality is based in the facts. Las Vegas seems to be Los Angeles 2.0 based on countless metrics. If you like CA over population, impatience, poor attitudes, filth, and politics, then it's a paradise. I don't.....

[@briancurran1140]

Home prices not affordable 2019 now it fair tale

[@lasvegasliving9237]

That's correct.

[@senmcquire]

Sounds like it’s time for Realtors to find a new career.

[@lasvegasliving9237]

Not at all.

[@senmcquire]

@ just the 85% that are lazy, don’t answer the phone, don’t know the correct documents, don’t know their market, expect 3% commission for no work. The other 15% are doing just fine and will continue.

[@lasvegasliving9237]

@@senmcquire Can't argue with that.🤷‍♂

[@dannyzuehlsdorf3697]

Another option would be to move to a more affordable state. Plenty of nice cities in the US where you can buy very nice houses around $100k

[@lasvegasliving9237]

The sad part is Las Vegas used to be one of the most affordable and exciting cities to live in and purchase a home. Unfortunately, cities that have homes for $100,000 are not nearly as appealing as cities like Las Vegas.

[@Resmith18SR]

​@@lasvegasliving9237Las Vegas is exciting but anything you want to do there for "excitement" after you have purchased your overpriced home there costs too much as well. Restaurants, gambling, auto insurance, parking, almost everything is double or triple price what it was just a few years ago.

[@robertmartinez1228]

Damn.

[@lasvegasliving9237]

Always keeping it 💯!👊

[@nagleys]

LV Casinos just reported a decrease in revenues of 10%. If this trend continues (I expect it will) and layoffs start, the housing collapse has just begun. Get out of that market. Remember 2008?

[@lasvegasliving9237]

Las Vegas is more popular than ever. Even if gaming revenues are dropping off a little bit, it's making up for it other areas of cities. This is a very different economy and market from 2008.

[@ToddKepus]

You picked the super expensive cities for your comparison... cmon, what if you picked areas outside these large cities? It's not 'pathetic' (more house crash porn clickbait from you), it's just simple math. Prices are reflective of the low supply of homes... how about we fix the fact that building a house these days requires tens of thousands of dollars and a whole lot of wait time just for the multitude of regulations, taxes, permits, licenses just to get permission to build on your own property. People keep on voting for the party that raises taxes, creates more and more regulations, requiring more and more permits, etc. Sorry, no sympathy for buyers that can't afford the home. They are voting for it locally.

[@lasvegasliving9237]

I didn't pick those cities, that was content from somebody else. Obviously, the prices would be lower in cities that have a lower cost of living but I think everybody gets the point. The unfortunate reality is that people need a lot more money to buy home today than they did just a few years ago.

[@danieltres6824]

This is insane. I feel so bad for the younger generation of family’s that don’t own yet😢 lucky I have own my house since 1994. Hey guys these prices will not continue so stay positive family’s that are looking to own. Pay what you feel is comfortable not what the average Joe bought 2 years ago and jacks up the price on. Stay thirsty my friends and wait for this to really crash😊

[@lasvegasliving9237]

Thanks for sharing your thoughts Daniel.👍