All Forum Posts by: Mary L.

Weekly Updates:  Las Vegas Numbers on Supply.

2/29 MLS Inventory: SFR 4240 properties, Condo/Townhouse 1216 properties.

3/26 MLS Inventory: SFR 5757 properties, Condo/Townhouse 1566 properties.

4/2 MLS Inventory: SFR 6055 properties, Condo/Townhouse 1681 properties.

Social distance is a must and necessary to slow down the spread of virus rate.  Unfortunately, many people still don’t fully follow the social distance guidelines.  

Many people originally were healthy in a city, once they take the airplanes and fly to another city, a higher percentage of travelers got infected. 
I suspect both airports and airplanes have a lot virus, that many people got their coronavirus either in the flight or the airports, then the inflected people spread it to the community after they land.  

I strongly encourage all of us to stay home most of the time except it is a must to get essentials things like food, drink etc.  

Unnecessary traveling or entertainment would increase the virus spreading rate, and more people will die.  

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More Las Vegas Numbers on Supply.

2/29 MLS Inventory: SFR 4240 properties, Condo/Townhouse 1216 properties.

3/26 MLS Inventory: SFR 5757 properties, Condo/Townhouse 1566 properties.

Buyers can have more choices compare to one month ago.  

Thought from another Realtor:

https://www.youtube.com/watch?v=M4ePdFwKLm8

We don’t have any cure, and it takes at least one year to have vaccines.  Question is, when can the virus be ended?

The scary part of the coronavirus is unknown and uncertainty.

https://www.google.com/amp/s/w...

According to federal plan, the coronavirus could last 18 months.  It would be hard to image the huge economy loss if it last 18 months.  

It also scare away the ibuyers.  Opendoor and Redfin have halted purchasing homes from home owner directly.  

I agree be greedy when others are fearful.  Like @Russell Brazil said, the real estate didn’t bottom until a few years later from the peak of 2006 to 2010, and Real Estate would not crash overnight, it takes time to bottom out.   It is too early to be greedy in the real estate now.  I would Not be greedy yet until at least 18 months plus later, especially in my volatile Las Vegas market.  On the other hand, stock market have a shorter time to crash and recover compare to real estate, I agree with Russell Brazil, that it may be a good time to jump in to the stock market little by little (not all in), to dollar cost average the stock market by “CASH” only, not with any margin or other form borrowing.  Margin or any borrowing will kill you in case the bottom is still far away from today stock market. 

Back in 2008 stock market crash, I jumped in and was greedy when Dow Jones fell 30% from about 14000 to 98000.  After I used up all my Cash on the stock market, my biggest mistake was, I was too greedy that started using Margin in my stock account, then Dow Jones crashed another 30% from 9800 to 6600, I was forced to sell many stocks as a loss due to Margin Call.  I lost a lot money in 2008 stock crisis.  I told myself that I would never use Margin again.  

https://www.biggerpockets.com/forums/432/topics/818321-backing-out-of-a-great-deal-because-of-coronavirus-covid-19

@James B. 

I found the above link is an intereting topic to read other investor mind about their thought and confidence on Coronavirus.  Knowing what other investors are thinking, it may help you to have a better sense on other investors' upcoming behavior or actions and the market trend in the near future.  

https://www.reviewjournal.com/business/housing/las-vegas-housing-market-facing-risky-times-as-valley-shuts-down-1987736/

News about Las Vegas Market Trend from our Las Vegas Realtor Association (Tom Blanchard), Las Vegas housing tracker president of Home Builders (Andrew Smith), National Association of Realtors (Lawrance Yun), and senior economist at Zillow (Cheryl Young).

In the last 2 days, three of my tenants have told me that they just lost their job due to the shut down.  

Before Covid-19 is under control, I agree not to have additional leverage.  If I have extra money today, I would put it in cash reserve and save it for raining days in this extremely situation.  I don’t think today is a good time to buy and expand, we should be more conservative in this difficult time.  

https://thenevadaindependent.c...


Nevada state governor Sisolak is expected to announce Tuesday evening (tonight) the closure of non-essential businesses, including casinos across the state of Nevada.  Looks like more laid off will happen in Las Vegas.  
If most people stay home, not working and not being productive, our society economy loss will be very huge.