Real Estate

Homeownership further out of reach as prices, high mortgage rates widen affordability gap

Homeownership is increasingly unaffordable as mortgage rates near 6.76% and median home prices hit $431,250, requiring an annual income of $114,000 to buy. This is $47,000 more than six years ago. While home sales have slumped and prices rise slowly, active listings have surged over 30%, with more sellers reducing prices, offering better opportunities for prepared buyers. Continue to full...

6 Essential Estate Planning Strategies for Wealth Preservation

Estate planning is crucial for wealth preservation, involving strategies to protect and transfer assets, minimize taxes, and ensure wishes are honored. Key components include creating a will to prevent disputes, obtaining life insurance for financial security, and setting up trust accounts for tax benefits. Family Limited Partnerships (FLPs) can aid in asset transfer while maintaining control....

Las Vegas Valley needs more apartments, association says

Nevada faces a supply-demand imbalance in rental housing, driving up living costs, especially in Las Vegas Valley. Rent increased 4.6% recently, with occupancy slightly above the national average. Challenges include high interest rates, material costs, labor shortages, and bureaucratic delays. Population growth demands more housing, urging policy reforms to ease construction and increase land...

How Las Vegas Valley luxury home market is defying the odds

The Las Vegas Valley luxury home market has seen a 107% increase in average prices from 2019 to 2024, rising from $6.94 million to $14.4 million. Unlike many markets that peaked in 2021-2022, Las Vegas shows steady growth fueled by strong population growth, no state income tax, a thriving tourism scene, limited housing supply, and a strong job market. The luxury market remains a seller’s market with...

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