Las Vegas real estate numbers show small improvements in September

Southern Nevada - accommodating communities like Anthem, Summerlin, Henderson, Mountains Edge, North Las Vegas, Southern Highlands and Pahrump - resale housing segment took a cautious step forward in September, after going the other way in August. A curious trend might be developing, actually so predicted by some industry experts, where the real estate market will find the bottom and then will bounce along there for some time. Despite very attractive mortgage money and truly appealing home prices that may be all it can do for now, as the economy remains weak and unemployment is pushing deeper into in double digits.

For September there were 3,358 single-family residences sold, so reported by GLVAR, the Greater Las Vegas Association of Realtors. That amounts to a nice 4% improvement from August and a solid 20.7% jump from the same month last year. The buyer base is rather narrow, though. It's dominated pretty much by the first-time homeowner and the investor, both of whom aim at the lower end of the price scale.

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Las Vegas resales stay on an upbeat course in November

The holiday season is upon us although this year it might be more subdued than in a long while due to the overall weakness in the national economy. The mortgage and real estate markets have taken unprecedented punishment in most parts of the country that requires extraordinary efforts and just plain old time to turn around. Southern Nevada housing sector, for its share, has paid dearly for past excesses but has lately shown some flickers of hope that perhaps a tentative recovery may be shaping up.

November statistics from Greater Las Vegas Association of Realtors, or GLVAR, back up the cautiously upbeat sentiment. There were 2,183 single-family house sold last month that is well over double the number for the same month in 2007. True, it's a small drop from October that really is a normal development as the slower-paced winter season sets in. For several months now resales in Las Vegas valley have been significantly better than comparable figures a year ago, an entirely positive sign.

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Tax break for Nevada home buyers?

It could soon become reality. The catch is you have to buy an energy-efficient house to qualify. Lawmakers in Carson City are presently debating a bill that would encourage energy conservation in our fast-growing state that is importing energy now.

The new law would offer property tax breaks of up to 50% for home buyers who acquire houses that meet national green building criteria. They could add up to $30,000 per property over a 10-year period. That's real savings. Builders specializing in energy-efficient homes would then have an easier time competing with traditional builders, because putting up an energy-efficient house can cost 25% more. The bill also has additional conservation proposals. A far-reaching agenda that would benefit the entire state.