All Forum Posts by: Robert Adams

We are seeing the overpriced listings reduce to where they should be. More inventory...more sales...homes still moving but with less offers. Increased inventory but more healthy supply and demand levels. I like what I am seeing.

For those of you that missed this thread there is a lot of good info about the inentory levels increasing in Vegas here: https://www.biggerpockets.com/forums/712/topics/607087-inventory-rising-in-several-areas-of-the-country-including-vegas

Also what does she need? Leads? Training? Looking for a team or to be an individual agent?

@Eric I couldn't agree more about Californians realizing the tax implications in 2019. Most people do not realize how much they will be affected by the tax changes until they actually pay their tax bill in April. There were several changes this year that most people are not fully understanding. I have talked to many people that are not aware of the changes at all...these are the people that will be blind sided with it next year and will be more likely to move. There will be a substainl difference in 2018 filings and their 2019 filings. I am glad to be in Vegas where these changes are minimalized or not a factor at all like the S.A.L.T. cap. Lower home values, lower property taxes, nonstate income tax, etc are all strong pros for moving to Vegas.

Median selling price for May 2018 This map compares each state's median selling price for May 2018.1 Darker states have the highest median selling prices in the country, whereas the lighter-colored states have the lowest prices. It should be noted that median selling prices are generally lower in the Midwest, and higher on the coasts.

Median selling price for May 2018 This map compares each state's median selling price for May 2018.1 Darker states have the highest median selling prices in the country, whereas the lighter-colored states have the lowest prices. It should be noted that median selling prices are generally lower in the Midwest, and higher on the coasts.

1Source data: CoreLogic®
Data date: 07/25/2018

The second map shows the effect of real estate-owned ("REO") property sales on the median home price. The areas with the least impact on median sales prices from REO property sales are Oregon, Montana, Texas, Massachusetts, Florida, Rhode Island, California, Alaska, Nevada, Minnesota, Washington, Nebraska, Idaho, Arizona, Utah, and Colorado — all with less than a 1% impact.
REO property sales also affected median sales prices more in the eastern half of the country than the western half. Based on available data, REO sales on average only had an impact of 1.49% nationwide, with 26 states below the average.11Source data: CoreLogic®
Data date: 07/25/2018

@Kent Caldwell what type of returns are you looking for in Vegas in order for it to be worth it?

In the short term I would buy more. 

We are a very experienced and high volume residential real estate team. We are looking to expand into commercial and land sales as well. We are in search of 1 experienced land and commercial agent that does not require training to come on board to handle all of the commercial and land leads for our team.

Our current agents have commercial and land referrals that we have been referring to outside agents. We are looking to create a position within our team for all of these leads to funnel to. Once we have an agent in place I will begin marketing to generate a pipeline of leads for this agent. All the leads we have currently have come to us without any marketing.

There is also potential for this commercial/land agent to make money by referring residential deals back to the residential team agents. We are building a team of agents that specialize in their specific niche rather than being a jack of all trades.

If this sounds like something you would be interested in please send your resume to [email protected]

Thank you.

hello and welcome to bp

You get a lot more bang for your buck in vegas...lower propert values, lower property tax,etc.

while increasing , they are still historically low

increased rates will lower buying power

I doubt we will see 3% rates again in our life time. It was only that low due to the crazy crash we experienced.

Whats your estimated rehab costs?

And ARV?