I love me some hockey right now! Whoa…
Still fasting daily from 6pm to 9am from both my mobile phone and food. Life is easier.
Interesting stat picked up this week. 60% of loan officers across the country renewed their license. I wonder what the other 40% are doing? That’s not unlike the REALTOR community. Prices are climbing and the REALTOR count, declining. I imagine many of the REALTORS who got into the business in the last couple of years do not have enough business to make it make sense to stay in the business, any longer. That’s a lot of businesses isn’t it?
The field is clearing and I’m doubling down.
I’ve always thrived on the following saying;
“If it were easy, everyone would do it!”
I’m glad its hard.
MLS#2483802; 20 Soaring Bird Court Las Vegas, Nevada 89123 inside The Ridges at Summerlin. Listed by Ivan Sher. Sold by Darin Marques. Sale Price $10,000,000.
The last 7 days saw 181 single family residential resale properties MOVE in Southern Nevada. 20 sold, 54 cancelled and 51 added.
Let’s get into it.
20 homes sold posting a million dollar minimum sales price. Interestingly enough 20 Soaring Bird Court featured and called about above was at the top of the list with a sale price of $10,000,000. Darin Marques (B#0145227) owner, broker and CEO of Southern Nevada’s newest luxury real estate juggerknot, Virtue Luxury Real Estate Group brought the buyer. Again, Goliath Ivan Sher (BS#0046822) owner and broker of IS Luxury Real Estate (formerly Shapiro & Sher Group of Berskshire Hathaway HomeServices Luxury Collection) now independent and affiliated with Forbes exclusively listed the prize property. Sales price was $10 million with conventional financing terms and a price per square foot almost as high as the Stratosphere at $1,492. Well done fellas!
The fastest sale of the week was on the market for only 7 days. In that time they had multiple offers and called for highest and best. Ultimately the home was won by active agent Avichai Dan Goor (#S.0074823) who’s buyer showed up to the table with all cash and paid full price. The home sold fast and with competition because it had the trifecta; 4000 sqft, 4 beds and a 4 car garage. It didn’t hurt either that it sat on a ½ acre in the South East are of town not too far behind Las Vegas Boulevard. The most important detail to it selling quickly was that it was priced right from the start thanks to listing agent (BS#0020485) Emily G. Sherwood longtime luxury specialist and veteran Las Vegas REALTOR. Price per square foot was $383 and sales price was $1.65m. Emily is now with Las Vegas Sotheby’s International and Avi with Douglas Elliman of Nevada. Well done friends! Property address is 10638 Habersham and MLS# 2488356.
Here’s a rundown of the stats making up the rest of the excitement that unfolded in our luxury market over the last 7 days.
Breaking down the sold gold. 2 sales occurred in Summerlin. 9 were in Henderson. The rest were scattered around the valley. Half had single story structures. 12 were 4,000 sqft or more. 9 closed all cash. 18 were gated with 14 guarded. 14 had ¼ acre lots or larger. 18 had pools. 5 featured strip views, 8 golf course, 11 mountain, 5 city and 1 lake. Days on market averaged 51. 3 sales recorded near Gorman high school and 5 were zoned for Coronado High in Henderson. Averages features for those sold was 17,000 sqft lots, 5,000 sqft living spaces, 4 bedrooms, 5 bathrooms and 3 car capacity garages. Zero homes sold had no view. Average sales price was $2.8m which translates to $545 p/sqft.
There are 676 active listings on the market today featuring a million dollar minium price. 51 off them came on the market in the last 7 days. 113 properties sold over the last 30 days. That includes the the 20 sales I covered above which recorded in the last 7 days. 54 properties came off the market without a successful sale. The cancelled properties featured on avaegae a list price of $3m which would have bought 5000 sqft home on a 17,000 square foot lot with an average price per square foot of $566. These homes came off the market after trying to hook a buyer unsuccessfully for 160 days on average. 5 of the cancelled listing were in Summerlin. 26 were in Henderson and 23 in other areas of the valley.
There were no short sales and there we no foreclosure sales last week. Sorry naysayers. The sky is not falling. The real estate market is not crashing. Inventory is low and demand remains strong. Prices are stable and on the upward trend again.
Those homeowners interested in selling are being rewarded for coming on the market today when priced well and inline with the condition. Property owners who are glued to the negative headlines are siting on the sidelines suffering from analysis paralysis due to being distracted and derailed by the click-baiters, doomsayers and the naysayers claiming its all coming down hard and fast. It’s not.
Next week I’ll drill down on views and I’ll give some insight and understanding to why some homes sell faster and for higher prices than others.
Thanks for staying tuned into my Market Movements email report on the million dollar market here in Southern Nevada. I hope the report is improving week over week and that it gives the readers something meaningful to chew on. I’ve recieved a lot of feedback since staring to publish this report 6 weeks ago now. Thank you to all those who took the time to send me feedback. I appreciate it a great deal and I welcome more feedback.
Some design ideas I am playing around with. Not sure what will make the cut or not. Still mulling over it.
This was my sale. I represented the buyer. Property address was 750 Wexler Court Las Vegas, NV 89107 with MLS#1939603. The home is located in the downtown area on a four home private cul-de-sac named Midtown Modern by Blue Heron Design Led Development. Sales price was $1.579m. This was a design build project from the ground up off Campbell near Charleston. My client was referred to me by a longtime trusted friend. He’s actually more like family then a friend and he’s referred me 3 clients over the years which has resulted in approximately 12 transactions. Thanks Fred!
Get your arms around the million dollar real estate market fast, and keep it there! It’s a quick piece to consume with what I hope is entertaining commentary.
The report will keep you informed on the market activity on a week by week in a digestible and fun format you can read, listen to or watch me present. Listening and watching coming soon.
Set in the now featuring the most recent and relevant market making transactions. A unique view through the eyes of an experienced real estate broker who has been a full time licensed real estate professional for the last 8 consecutive years. And I’ve lived here for more than 33 years.
I personally research, analyze, interpret, write, present, record and edit this report. It keeps me fresh and focused. Every 7 days I track and analyze the movement of single family residential properties featuring a million dollar minimum price.
I write a draft on Sunday mornings, write more, revise and edit again on Monday too. Tuesday I continue to copy edit while fact checking and adding in details like captions, credits and license numbers and names. I also begin to source property photos. Tuesday is also the day to begin sending test emails with subject line versions, opening and viewing email newsletter experiences and overall tinkering and toying trying to make it better and easier to publish week over week. Wednesday I publish it to my website and YouTube and send an alert to my list of email subscribers.
The real estate market remains active. I’m in the field everyday previewing property, studying prices and reading the reports. Text, call or email any questions you have about the market, your home value and or what it means to sell or buy in today’s market. I have answers.
Hope this message finds you well.
who’s on my list?
Broke artists, past business partners, millionaires, billionaires, active politicians, future political candidates, winning and losing entrepreneurs, builders, developers, manufacturers, past clients, future clients, existing clients, high priced homeowners, off market sellers, hard money lenders, institutional lenders, bankers, investors, business owners, professional peers, competitors, industry leaders, friends, family, philanthropists, referral sources and more.