Las Vegas Homes For Sale - Sickening!
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- Опубліковано 31 лип 2024
- Las Vegas Homes For Sale - Sickening! The public is being gaslighted by the media, which continues to convince the majority of people to keep spending, driving up prices and creating a vicious cycle of inflation. This is particularly evident in the real estate market, especially in popular cities like Las Vegas and the limited supply of Las Vegas homes for sale, where home prices are massively overinflated. The cost of homeownership today is less affordable than ever before. Specifically, in cities like Las Vegas, there are now less than 4,000 Las Vegas homes for sale while the median Las Vegas home price now stands at $473,000. This is up nearly 10% from a year ago. The Las Vegas real estate market has seen insatiable demand for the last few years. This not only includes all of the Las Vegas homes for sale but also its largest master planned community called Summerlin and all of the Summerlin Las Vegas homes for sale. Additionally, the adjacent city to Las Vegas is called Henderson and all of the Henderson Nevada homes for sale have also seen huge consumer demand. Regardless if it's a resale home or new construction from popular home builders like Las Vegas Lennar Homes, Las Vegas Toll Brothers or Las Vegas KB homes, the Las Vegas real estate market and the limited total supply of Las Vegas homes for sale has exacerbated an already unaffordable real estate market. Data from popular real estate websites like Zillow reflect this overinflated trend in property values and the Las Vegas real estate market is a prime example, with numerous Las Vegas homes for sale listed at prices far beyond their true value. Despite clear evidence of overpricing, the media's influence keeps fueling the spending frenzy. The US housing market is likely in a bubble as Las Vegas homes for sale are clearly overpriced, making it increasingly difficult for the average person to achieve homeownership. The manipulation is most evident in the data for many homes around the country and specifically with Las Vegas homes for sale, where the discrepancy between actual value and listed prices is stark. The narrative of many legacy media outlets is distorting the market and it is especially true regarding Las Vegas real estate, which is ultimately harming the public's financial well-being. Aspiring home buyers should carefully consider several factors before buying a home, specifically the current high prices and interest rates, especially any of the Las Vegas homes for sale.
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The public is being gaslighted by the media and certain public figures, which convinces people to keep spending, driving up overall prices. This is especially true for home prices, which are now massively overinflated. Data from popular real estate websites like Zillow reflect this disturbing trend. In popular cities like Las Vegas, the situation is particularly dire. The Las Vegas real estate market shows overpriced housing data, with many Las Vegas homes for sale listed far above their true value. Despite this, the media's influence keeps the spending frenzy going. It's sickening to see how the media and specific public figures manipulates perceptions, causing financial strain for many. Las Vegas homes for sale continue to be overpriced, making it difficult for average people to achieve homeownership in this distorted 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 significantly overpriced. It is wise to be patient if possible and wait for home prices to recede, even if it takes the rest of 2024 for that to happen.
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: jerry@jerryabbottrealty.com
Website: jerryabbottrealty.com
When does the prices actually drop significantly? They don’t. They only stay the same or go up higher
@@aliviar9711 Most people always think that when the economy is supposedly "doing well." A downturn will change things but that has yet to materialize (but likely will down the line, possibly after the election).
Slowly at first.... Then suddenly.
Jamie Dimon is worth $2.3 billion. I wonder whose pockets that came out of?
Dave Ramsey, lol!
@@John_GGG One big dirty game!
These “experts” all need to be held accountable. So out of touch, gaslighting or straight up lying!
Yup...sickening!
Sorry, had to leave the video prematurely...so not into the political negativity. Lots of other channels to go to for that. Not what I come to your channel for
@@msk384 Good choice for you!
@@msk384 What political negativity? I am simply showing a bank CEO, Fed chairman, treasury secretary and RE media moguls gaslighting the public about how good we are doing and that we need run out and buy a home as prices will not come down. Those comments are insulting, my commentary has no political negativity.
@@lalac9057 charade
As a builder developer during the 08 crash we got a great 3 million$ lesson. We now live off grid on a 22-acre organic farm. Inflation has not affected us much as we grow most of our own food and produce our own power and we ditched the car. We are home most of the time and we self-insure. Enjoying a simple life in scenic Idaho.
Good for you!👏👍
Inflation should have affected you a whole lot as food prices went up 400%, your income off the farm products should have quadrupled your income.
You will be happy for a while but you will get that itch to go make money because we are Americans 😊
Today, I walked by an area of million dollars homes, which in my part of the country are substantial homes. I can't help but notice what's in the garages. Most are packed with stuff. Guys in the late 30s with beards in the summer. New $75k Jeeps and $90k trucks that never see dirt. Giant boats in the driveway, not on a dock. Christmas lights on the house. One property didn't have a lawn, just rotting erosion barriers, but somebody has lived there for at least a couple of years. Then I saw something that made me smile. An old-timer backing out of his garage driving a 2010 Camry. I found the Millionaire Next Door. Probably paid cash.
Thanks for sharing that. Times have certainly changed!
The summer beards on those late 30 year-olds are the worst! "Hey, you look weird - shave off that beard!"
@@jefesalsero Lol
Buying is great if you find a great deal in great location. It's not really a "profit" until you sell, though. So your networth will climb, which feels pretty good, but you would still have to pay rent or buy a new house if you were to sell. You would have collateral, though, which means you could borrow money for other things. Or you become a landlord like Graham and you get other people to pay your mortgages for your downpayment/investment. But owning a house will soak up a lot of your income compared to finding cheaper rent. Mortgages kind of suck, because they make you pay more towards the interest than the towards the actual ownership of the house.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
We just closed on a home for 347,000 @5.99% with US Bank. Closing cost were about $13,000 and thats with seller kicking in $15,000 towards closing. Crazy. We were lucky to have saved up cash but not many people can just pull out 15,000$ for closing costs.
That perfectly illustrates the "hidden" costs to buying and owning a home, even at an average price point, that many people are not aware of or could afford. Thanks for sharing and congrats!
I drive a 15 year old Toyota. It drives fine, but I shudder to think about what it will cost to replace it. Keep up the good work.
Thanks for the support David!🙏👍
From the UK here. The American dream became a nightmare. Your inflation and corporate greed is a lot more than across the pond
So very true! Sad. Thanks for the support from across the pond!🇬🇧👍
Why do you think they call it the American “Dream” and not the American “Reality”?
@@torsten6777 Good point!
I have live just fine in many of the states here. You just have to look around a bit. I wouldn’t ever want to live in the UK EVER. I’ll take our problems.
@@WordMadeFlesh777 No place is perfect and people tend to stay where they have always lived.
Dave Ramsey said $500k is a starter home and if he were a builder he'd build as many $500k homes as he could. That guy is nuts and people keep supporting him.
The cost of building a house is at least $500k lol.
dave lost touch with reality a long time ago
@@youdub7926please cite your source
DR needs to stay in his basic financial advice lane because his real estate advice is very self serving.
@@youdub7926 Yeah, sure it does.🤦🏻♂
Thanks to proposition 19 my taxes went up from $1,500 to $10k a year and insurance went from $1,200 to $4,800. The state get you coming and going.Can't save money making 150k per year in Cali.Time to move out of Cali.
Wow! That is just unreal! Sorry to hear that but thanks for sharing that info. This is why so many Californians are leaving the state. Total disaster.🙏
You got the wrong 19, bro... it's not prop 19 that's the issue .... it's the 19th amendment we need to get rid of!
I moved out 2 years ago. Best thing I ever did.
@@bellajoey1060 But where are we going to go??? We, the American people, are the problem. We keep voting the same Corrupt Politicians into office and because they don't care about us, nothing changes. Also, now many States are raising fees across the board to Write Themselves BIGGER PAYCHECKS. We MUST STOP TALKING AND START IMPEACHING THEM ALL!!!
Run, Forest, run! 🏃♂️ Far away from California.
You probably wouldn’t make a good car salesman or a lawyer. I admire your honesty and transparency, it’s very very rare these days.
Lol. Thanks so much for the support!🙏👍
If you live in Vegas....Jerry is full of $hit. He is anything but transparent.
@@janerockstar Yeah, maybe I should tell everyone to buy a home near peak prices and interest rates.🤡 You need to improve your troll game.
@@janerockstar could you elaborate?
Meritless comments are usually just one’s own opinion.
@@5dc61 I did elaborate - see my other post. I live in Vegas, the real estate market is RED HOT and going only UP, it's in part because of the crime issues California has brought upon themselves - Jerry has been posting bogus information about the Las Vegas housing market for quite some time now, maybe he is an influencer - or Jerry is plum crazy. I watch his videos for a good laugh.
Just canceled my Allstate auto policy which went up $68 a month with no changes to my coverage, no tickets or accidents. Found a policy with AAA for the same coverages at almost half the premium.
Good for you. Definitely shop it around when your old company pulls that nonsense.
Wow
I just canceled my Auto policy with AAA after 26 years. The premium last year for just liability was $628 went up to $968 or 54.1%
called to find why the huge increase, they just said premiums are going up national. Got the same coverage with Progressive for $608
Now here in California State Farm is asking our Governor to increase our home owners insurance by 30% this year alone
Thanks Biden
@@marksweeney5237It would happened under Trump. Greeds don’t care whether you are a Republican or Democrat.
Not a Biden fan but one thing is for sure, trump is not the cure, he’s the disease. Things were going smoothly until he got into politics. We’re in trouble.
@@thomaskim5008 stop ur whining and crying
R u gayp
If you purchased a home in Las Vegas over the past 2 years, there is a 100% chance that you are upside down on your mortgage.
Most likely but not by much as we are climbing back to near record highs from May of 2022.
@@lasvegasliving9237 There's just not enough inventory on the market to trust any of the sales metrics. People are holding, and if the casinos start dumping employees due to a recession inventory is going to explode (don't forget AirBnBs will go bust too).
Nobody is twisting anyone's arm to spend money. Most people just suck with money
@@stevep927 Hard to argue with that.
We lived in Vegas from 89’-06’. One of the problems with the Vegas market is that it’s more artificially overvalued than it was in 08’.
You would think so with how quickly home prices have appreciated but this is a very different market than 2008. I don't think history will repeat itself but this could be a different version of another bubble. Time will tell.
@@lasvegasliving9237 Understandably,this market wasn’t fueled by the predatory and foolish lending practices of the early 2000’s. Sadly the outcome will be the same just possibly not to the level as before.
@@ericboncuk5303 You could be right. Time will tell.
I like your honesty . That’s why I follow your channel.
Thanks so much for the support!🙏👍
Repetitive and boring.
Listing prices are irrelevent. "Cuts" are irrelevent. Closing prices are all that matters.
@@jurisram1 I will be focusing more on those as well.
Move to Vegas? Why not? It’s only going to 117 degrees tomorrow😎
Lol...hotter than hell right now!🔥
That's why God invented A/C.
@@jamesmurphy9346 True! 🥶
Zillow says my home is 3100 rental. I don’t know anyone that could pay or would pay that. Its all ridiculous. They are distroying our great country. So sad
Agreed. These automatic valuation models need to be based off of actual rental prices or sales not generalized projections or greed.
One of my tenants pays me $3,450. Every month. Never a day late. Some people earn good money.
I remember just a few years ago ppl could barely afford 1300 pr 1500 a month rent. The media and these politicians are lying to ppl and they have the country believing everyone is buying up all these homes at these ridiculous prices etc. I think it's all cap. Where are all these ppl with 100s of thousands of dollars to put down on an over price track home? Everyone I talk to is barely making it. So who is affording all these 800k homes smh. Ppl are making 15$ to 20$ an hour. Something doesn't add up
Break out the coffee ☕️ and donuts 🍩, Jerry is in da house and dropping facts 🏠 👏👌😎
Right on!👊💯👍
We went to the Omelet House on W Charleston and S Rancho this last Friday.
Hand’t been there in a couple of years so we were scrolling through the pictures on yelp to refresh our memory. Out of curiosity I clicked on a picture of the menu from two years ago and noticed that prices had doubled for most menu items when compared to the menus on our table.
I know it’s like this or worst everywhere, but it really hits you when you see the difference side by side with your own eyes.
Scary to see such price increases in such a short time!
Vote for Trump to bring us back to reality 🇺🇸
@@johncochran715 Thanks for watching.
Last week I went to Carls Jr. I ordered 2 famous Star with Cheese Combo's small size. The guy said sorry we no longer have small combo's and said we only have medium size now. He then gave us the price for two and it was $30.00. I will never go back again.
Unreal yet very real. I wish everyone would boycott this sickening corporate greed!
Yup Go to In n out! Way fresher & more cost effective
$30 is not worth much these days.
@@grasianodre7938 Good advice!
@@torsten6777 That's for sure but fast food prices are insane now. Too bad more people don't boycott them.
When covid hit, who'd have guessed that paying everybody to stay home for 3 years and printing trillions of dollars in cash would cause runaway inflation. Go figure. The similarity between what is happening in our economy now and the circumstances leading up to the Great Depression in 1929, are eerily similar. A great everything correction is likely to occur.
Good point about the pandemic. It really is amazing how much the world and the economy changed from that one event. People are different, prices are different, everything is so challenging nowadays!
The same people are waiting for another stimulus check.
@@AaronBanks-dq4hr Sad but true.
Hopefully nobody will vote again for that guy that was president when Covid hit. By how many trillions did he increase our national debt?
If I understand this pricing correctly, the seller is pricing the house at what they intuitively feel not what the market is asking. Then you hear the media saying it’s hot. Not living in reality. Driven by the theatre on our TVs. Stick to your plan and goal and don’t get sucked into the theatre vortex.
Jerry please continue to be HONEST when selling homes to the public needs YOU!!! Thank you for Your services 😊😊😊😊😊
Thanks so much for the kind words and support!🙏👍
Our Beautiful Country is in BIG Trouble and We, Americans, most definitely Must have some MAN...Jerry to Lead the pack.
@@jamesmeegan9284 True...let's go!👊👍🇺🇸
Work from home is definitely one reason prices shot through the roof everywhere.
Definitely a big part of it from the pandemic.
The most expensive item that has gone up the most, is my own life and trying to live. From food, toothpaste, toilet paper, meds, etc. It’s taking a toll on my mental on how to even survive with everything being astronomically expensive. I don’t even eat out and can only imagine what people are paying for a freaking Happy Meal.
Your frustration is very understandable. Millions of people are in the same position as yourself. Hard to believe it has gotten so bad for so many ever since the pandemic. The key is trying to find side hustle or alternate way to earn more rather than letting inflation eat up your funds. Focus on that and hopefully you can pull yourself out and this will certainly help with your mental health as well.🤞🙏
Income is going up on the "very low end" yeah the min wage from $12 to $17 in Maryland, or $15 to $20 in Cali. 33% increase. But many restaurants closed their doors due to the increase. Rendering them unemployed
Correct. Higher minimum wage is just going to cause more unemployment (and pain) for those workers.
Once again. Because the franchise owner do not want to take a pay cut. They want their salary and profit to increase. But the worker who is helping his business stay afloat. He do not mind those people barely making ends meet. It is enough slices of pie for everyone can get a piece.💁🏽🎯
@@bigvalley4987 It's always about greed and the average person is always hurt the most every single time.
I make $60k in Las Vegas and was able to buy a townhome that has a mortgage that is cheaper than rent. Rent prices might come down at some point but I wasn't going to keep waiting and waiting for that to happen.
Understandable considering rents have gotten so out of control.
Don't believe Zillow price or rent estimates; they are worthless and have nothing to do with reality.
Just explain to the owner how Zillow has actually lost hundreds of millions $$ by believing their own price estimates as an i-Buyer.
Very true! AVMs are absurdly inaccurate.
They were not too much off for most places that I sold or rented out.
….”the consumers are in pretty good shape” ……what planet is this guy on? It’s in good shape for the ones on the news saying everyone is fine because they are wealthy and don’t live paycheck to paycheck. Disgusting 🤬
Good shape for billionaires and multi-millionaires like himself. Ignorant fool.
@@lasvegasliving9237 👍🏼
Hi Jerry, have been following for over a year now and don't miss a single video and you are my go to guy to buy our home until is the right time.
IMO inflation got here to stay because government wants us to get use it and doubt it will decrease.
Can't complain paying rent as I've done for the past 12 years and my rent has been from beginning $990 to current $1,275
Townhouse
3 bedroom
2 1/2 bath
2 story
2 car garage (Inclosed)
Security 24 hrs incl.
Water, trash & sewer incl.
No headaches if anything breaks
No property tax, etc.
I don't see another opportunity to purchase a property anytime soon ✌🏻
Your rent scenario is actually not bad at all compared to so many others. I'd hang in there with that as homeownership is far more costly than owning now at this point.
Just killed my 3rd scorpion since i moved to the desert! This last one was INSIDE the house. Maybe this should lower house prices lol
Lol...welcome to desert living!🦂
Yeah, can't walk barefoot in ur own house. Same shit goes down in Phoenix.😂🦶
@@danielsnook5029 Scary to seem them and they love to show up in the heat.🦂
It would be interesting to discuss past real estate bubbles in the history of Las Vegas
The one people remember the most was in 2008. That was a disaster. I don't think we'll see a repeat of the 2008 crash but it could get ugly for quite a few people if the economy hits rough water.
Bought a home up here in Vegas in 2009 for $165,000 now worth about 400,000, good investment for me. Never thought it would be worth over 200,000 back then. Things have really changed a lot up here. @lasvegasliving9237
When the housing market collapsed Jerry Abbott is going to explode with clients
and I will definitely be one⭐⭐⭐
Even Jerry said many times the housing market won’t collapse
@@RasiRobimost people said the same 2006-2007 in Vegas
I appreciate the support!🙏👍
@@RasiRobiwhen was that? Can you specify that quote?
people have been predicting a "collapse" for the last 4-5 years...
$50 a square foot is a good place to bargain down to $40 a square foot.
Lol...not anywhere near the western states (or really anywhere else for that matter).
Auto insurance has tripled over the past few years. Completely ridiculous.
Totally surreal to see what has been happening over the last few years!
In the Summer, Las Vegas temperature 120 F, San Francisco only 70 F. no snow in the winter. I won't move to anywhere
Different strokes for different folks.
San Fran? Feel sorry for you
@@jimkelley8658 Different strokes for different folks.
@@lasvegasliving9237,
And different heat, that some do not need. I enjoy visiting Las Vegas, NV. I always have a great time. Unable to visit due to the economy. And paying on a mortgage in So. California. Everything is off the chart.💁🏽💯
@@bigvalley4987 That's why so many Californians are moving to Las Vegas because they are tired of the costs, taxes, politics, etc.
So what went up is my maintenance three times as much and my condo insurance and we’re not finished yet the state is making us do full reserves which means our maintenance will go up again by $200 a month. I am already paying $1500 a month for maintenance.
That is just absurd! Sorry to hear that. Appreciate you sharing!
Sounds like a Florida situation!
I have zero debt. Own my home, cars etc free and clear. Of course I have property tax and insurance. I am thankful that I used simple common sense and ignored all the geniuses on mainstream and social media.
I’d say the single best thing anyone can do for himself/herself financially is to have NO debt. And I mean NONE at all. Save up, pay cash, even if it takes years.
@@MikeBDaniels-bv8io totally agree. Since I was 45 I have owned my home and cars. Every month I have zero worries. Live debt free!!!
Good for you Jeff!👏👍
@@MikeBDaniels-bv8io Easier said than done but true if possible.
@@captainandcoke7085 Good job!👍
If you are from California, moving to Las Vegas isn't the best value right now - you may consider the middle of the country instead of picking the East Or South.
Agreed.
In Kansas, Oklahoma or Nebraska, you can still buy a mansion in a nice neighborhood for $500K.
True.
My vehicle insurance went up 30% in California. So I realized my truck was 30 years old and took out an antique vehicle insurance policy. I saved $800 a year. I keep quality vehicles that run and maintain them.
Smart!
Rent is expensive,car insurance and DMV registration very expensive
All. true!
Don't forget that families of 5 were buying/living in smaller homes. I grew up in a 1000 sqft house.
True as many homes are bigger and certainly more expensive.
Prices have not come close to bottoming out in FL or LV!
I will not be surprised at 1994 Prices where people left the key in the door and walked away!
I agree that prices haven't even come close to a decent correction in markets like Florida or Las Vegas. I don't see 1994 prices ever happening again.
@@lasvegasliving9237 I actually expect a nationwide real estate crash of major proportions. There has been zero logic in the rapid unsupported price increases over the last 20 years!
BTW- I have a friend in Vegas right now cleaning and repairing a house he recently purchased. I will not share my opinion that he bought too soon.
I like how the first house you factored out the rent zestimate will not cover the projected payment. They probably had not even added in the HOA.
Good catch!
Aloha Jerry! I'm a realtor in Hawaii. I completely agree with you
Aloha! Thanks for the support!🙏👍
So many people say things like that news anchor "If you own your home this is great news as your equity goes up and up"...okay what good does that do you when you still have to live in a house, its not like you can sell it. Youre going to what pull out a heloc at 9% against it? might as well just get a new mortgage at that point and lock in a new 7% rate as you'll be hooked on that heloc for life now at a flexible rate.
So true! They don't understand what the hell they are saying!
On top of zillows bad zestimates, it doesn't help that the appraisal will also appraise it at the list price or offered accepted price.
Yeah, no kidding. Such a ridiculous, manipulated market.
Those people are such liars that we've had to implement food banks at my warehouse to help feed my employees. They're unable to feed themselves on a weekly basis and have to choose between eating or paying for a roof over their heads. 💔
Wow, sad but I appreciate you sharing those details.
I find it odd that the Zestimate Graphs start on the left and as the graph gets close to the right, the value hitches a ride on SpaceX and heads into the Stratosphere, not the Casino, and I have yet to see that graph line end up close to starting value. All go way up.
Good point...true in many instances!
Take a shot everytime he says 'gas lighting.' 😂
Lol...hopefully not too many shots needed.😎
I’m in NE Florida. My home I bought in 1995 has gone up an average of 6% per year over the duration, however the last 2 years it has plateaued. I think it will stay about the same or maybe drop a tick with the economy, but I am in a bit of a bubble being in the richest per capita county in the state.
Location always factors into local pricing. Some areas will be more affected that others. We'll see how it plays out.
Those homes are not worth what they paid for them 3 years ago.
Many would agree with that.
I was looking at condos at palms place...its cash only, would love to see a video on the dangers of buying vegas condos, id assume banks wont mortgage for a reason
So absurd and yet people do it!
People don't Understand what Inflation is.....
When the House prices increase.....
It's Not Because they've gone Up in Value.....
It's because Inflation has caused our Dollar to be Worth Le$$....
So... We have to Spend More Of Our Dollars to Equal the Amount that the House was Worth Originally....
Either way, you're correct and the dollar devaluation will only grow over time as it has lost 96% of its value since 1913.
@@ARGENTIN0 Sad but true.
Thanks for your info. I considered moving to Las Vegas maybe 25 years ago (was interested in Spanish Trail). Yeah and the American government tells us inflation is 3.2 percent (our Social Security increase last January). Lying bastards! I guess only way to buy/rent a house these days is have roommates. I’m old but if I were young I’d be considering emigration.
I understand your frustration. Millions of people feel the same way. The most frustrating thing is when certain govt officials, the media and public figures continue to gaslight us and tell us things are okay when it is just the opposite.
Hey Jerry LOVE the channel keep up the great work!
Thanks so much!🙏👍
The average credit card debt is misleading. 53% of credit card customers do not carry balances. it's easy to make the numbers look less bad by dividing credit card debt by all credit card customers. Add to that buy now, pay later debt that isn't reflected in the credit numbers.
Hard to believe 53% have no credit card balances in this day and age.
Just my observation...on the Zillow estimate being so high...check if the listing agent does advertising with Zillow. If they do, they often get a more favorable pair of rose colored glasses
Lol...some of these prices are delusional.
PLEASE Tell us about the rent as well..🤲🏻
Rent prices are still high but my focus is mostly on the residential purchase side.
Great video. You are always keeping it real
Thanks so much!🙏👍
Best wait until Spring to buy. I'm no realtor just someone who pays attention. Here in Denver the house up the street has been for sale for over five months! Still not sold. Since two more have come to market and neither has moved . Not even anyone viewing the homes. One year ago homes in Denver were gone within a month.💔
The market is definitely changing in many locations and I expect that to continue as we go through the rest of this year and into 2025. However, buying in the spring is never advisable because that’s when you’re competing with many other buyers in the peak season.
I live in LA - I’m so happy to hear you talk about the gas lighting re the economy. I’m still getting over lockdown. I am self employed and my food bill has taken over everything -I blame Palo Alto
The harsh reality is how expensive everything has gotten since the pandemic. Sad. Thanks for the support.!🙏👍
Honest assessment of the market there. Thanks.
Thank you!🙏🏼👍
Two of my biggest inflationary increases since 2020 to today by month. Rent from $1045 to $1420. Car insurance from $84 to $133. Don't get me started on how my health insurance, food, and energy prices have gone up. At least I have no debts, and I plan to keep it that way.
Sad to see such increases for so many people while we are fed BS lies about 3% inflation. Thanks for sharing Mike!
When I bought my home in 2000, the Wells Fargo retail home mortgage rate was 7.25% and I was happy to pay it. (In 2020, I refinanced at 2.50% rate and terms.)
Smart move on the refinance! We will likely never see those rates again.
Thanks Jerry, another great vid.
My pleasure!🙏👍
Hey Jerry… the way I look at the inflation on everything is that it’s never one thing it’s death by a thousand cuts. Insurance increases, two weeks later property taxes increase, two weeks later vehicle tax increase, two weeks later,grocery bill, …etc… now throw in random dental bill, car repair and your appliances and home repair..
And they keep coming nonstop!
I know that life. However when the cost are the highest ever across the board, there’s no relief .. great video on Walmart shopping list
Keep it up
And thanks for not having the art commercial (it also seemed like you really weren’t into doing them, seemed forced)
Thanks for your input Glenn!👍
Excellent video Jerry. Keep up the good work.❤🇺🇸
Thanks so much for the continued support Jimmy!🙏👍
'out of touch with reality'....you speak the TRUTH!
Thank you!🙏👍
@@994pt4 AMEN!
Good Morning Brother JERRY 🌞
👍👍👍🥇🥇🥇⭐️⭐️⭐️🇺🇸🇺🇸🇺🇸
Good morning! Thanks for the continued support!🙏👍
the fed are so out of touch. both yellen and powell keep saying the exact opposite of reality.
So true! Ridiculous commentary from both of them.
@@pl2996 both gaslighters
up, down, and all around. That's are new real estate market. Push a button on a logorithym for you property taxes, Jack up insurance rates, foreclosures, forced sales, homes built incorrectly, the list goes on.
It's all one big dirty, rigged game designed to squeeze the average person to their limits. Sad.
Talk about the rent as well please
Rent prices are still high but the content of the channel is focused on purchase prices.
As a real estate agent I agree with you. :) good job!
Thanks so much Judith!🙏👍
Sleepy Janet Yellen - 'people are better off'. What a deception!
Sickeningly out of touch with reality!
Only she can afford In n Out Burger when visiting the west.
Post pandemic my rent has increased 600 dollars and my storage unit is 200 dollars more here in the Spokane market. This has completely wiped out even the idea of fignanicing a newer car or even upgrading to a larger rental property. Saving money is not even in the equation anymore.
Sorry to hear that. Inflation has gotten completely out of hand along with corporate greed. Focus on earning more (i.e. side hustle, etc) rather than trying to save what you earn. Everyone needs to focus on earning more with another revenue stream rather just saving from a traditional job. Hopefully this helps.
@@lasvegasliving9237 Hey Jerry, you are not wrong! Over the last few years I've invested my time in educating myself learning from industry leaders in automotive detailing. Along the way I've been able to acquire tools and products and test many different methods on cleaning. Hoping to start booking cars very soon and ideally pick up 3 cars a month would satisfy that void.
@@nomad509 There you go! Go for it! That will help out a lot more than just trying to save.👍
Jerry, your videos have been spot on.. Any townhouses left ranging from $350k-400$
North Las Vegas?
Thanks in advance
Reach out to me direct for more details. Thanks for the support!👍
Can you make video on all big investment company's that buying homes in Las Vegas
I have done several video with segments specifically talking about large corporations invading the residential real estate market. Here is one starting at the 2:10 timestamp...ua-cam.com/video/0Vh95L-B0Q8/v-deo.html
Zillow's algo clearly takes into account a New Listing Price far too much. All these AVM's have a Major problem. They cannot account for condition. Was there major remodeling? So their answer was well the local agent must know better so it just uses that new listing as the "value".
Agreed but even so, the numbers some of these sellers want (and have been getting) are truly absurd.
Thanks, Jerry
My pleasure!🙏👍
Great work, keep grinding.
Thanks so much!👍
Very good video! Subscribed!
Thanks for the support Matt!👍
For those overpriced houses, isn't that a reflection of the agent / broker that the owner is using? On my recent trip to Vegas, I found grocery prices noticebly higher than what I pay in Portland. I think you need to differentiate between macro and micro economics; the macro numbers are actually good while the micro really depend on your individual circumstances.
Sometimes yes, sometimes no. Many times the seller is trying to set their price (which is almost always higher than it should be).
Agreed!
Except that... average monthly housing sales in Vegas are 3,000. This means a house is sold every 3.5 minutes assuming 22 work days in a month. That's not terrible.
This will likely be changing with job market weakening and rates staying elevated for longer.
@lasvegasliving9237 No. What will occur is the economy will continue to soften causing the Fed to start easing rates in the Fall/Winter. Lowered rates will... increase house prices!
@@chrishardin7183 Possibly but not if the job market continues to weaken and CRE crashes...then it will be a whole new ball game.
Hey Jerry, I've seen a lot of "Exclusive Leaseback" listings in your area on high end homes around Lake Las Vegas.
What's exactly is this???
People buy these houses, mark them up and try to sell them to someone that will rent them back to them?
This happens when the builder or the owner sells the home to a buyer but remains in the home as a tenant leasing it back. I have not seen much of this happening in the current market.
@@lasvegasliving9237 Right on. It seems to be popular with Blue Heron homes around the Lake. Thanks for the answer
@@deadbeatzen2001 Possibly so around that Lake area. Each company has a different business structure.
Great content, Sir 👌 . Thanks for posting the truth
My pleasure! Thanks for the support!🙏👍
My parents bought their small 2 bedroom 1 bathroom house in the SF Bay Area for 20k in 1970. It’s now worth 1.5 million. When I tell my mother how much her house is worth now she can’t believe it
It really is astonishing how high home prices have gone up in certain areas of the country, especially in California. Thanks for sharing that.👍
GOOD, I'M VERY HAPPY THE PRICES ARE DROPPING YES, I NEED TO BUY A HOME WAITING FOR PRICES LIKE 200K FOR A NICE HOME LIKE 6-7 YEARS AGO, YES I LOVE THE PRICES AND RATE TO GO DOWN I'M WAITING
Prices from that time are very unlikely to return again.
breathtaking greed
Very true!
Until the guy at the beginning shows the details of his orders we cannot analyze why the prices is higher. Our grocery bill is up maybe 20% over the last 3-4 years.
It does seem odd to see his prices went up that much but most people have certainly experienced 100% or more in the last 3-4 years.
@@lasvegasliving9237 It all depends what you buy. Buy a lot ot pre-package things and your are trading a little time for convenience and a lot of money.
@@lasvegasliving9237 when you look at the video and some of the items shown it shows quantity 3 being ordered.
Affordability is the bottom line; mortgage, rent, gas, groceries, electricity etc.
Overall affordability has simply gone out the window for millions of Americans at this point. Sad.
every time the experts are wrong. if they say buy things are about to go south if they say hold on things are about to pop. it has to be some kind of media manipulation of markets.
It's one big dirty, manipulated game with many greedy players.
For me, groceries went up the most. I mean 7 bucks for a box of cereal. Cmon man
Prices across all sectors of the economy are completely outrageous nowadays. Sad and very frustrating.
Oh my Lord! That grocery comparison is outrageous! That is so telling as to why we are all getting poor - I know we have cut a lot of extras out of our groceries purchases- which has got to be hurting some companies. 🤔
It doesn't seem to be hurting any of the food manufacturers because prices are basically at all-time high while we also get a heavy dose of "shrinkflation" from those companies.
The grocery had it showing 52 items and for some reason the quantity was showing ordering 3 of each ...so not sure if that was on all of those items.
@@rosemarybaker4403 Hard to know for sure but possible additional items because 4x higher grocery prices in just a few years doesn't seem possible.
Jerry, we are already in an economic collapse that you described perfectly this week. Here’s a survival tip for 24. Everything has gone sky high except the dogs and pizza at Costco. But the dining room is an overflow crowd at meal times. My suggestion is to buy multiple dogs and take them home If you crimp the bags and refrigerate, the dogs can be nuked for 50 seconds and even the buns are surprisingly ok. Don’t forget to use the cups for storage as you‘ll need the condiments.
Lol...thanks for the advice!
My Storage unit went from $ 120 to $ 210. Uhaul has increased their cents per mile to almost a buck. Two tickets to see the America cup at Allegiant tomorrow argh $ 145 per person plus $ 120 in fees and taxes.
Don't forget their $20 beers and expensive food 😂
Truly absurd!
@@mrodd1234 Such a ripoff! Not sure why people would go to these live events anymore.🤷♂
I like your channel. We think alike. Keep up the good work!
Thanks so much!🙏👍
Regular tuck values over 100,000 today I both gut a f-350 ‘23 for a close price like to his.
Yikes!