Â Iâ€™m a lot of things, but statistician isnâ€™t one of them.
The last two big posts I did â€œFour Secretsâ€ and â€œHow The Foreclosure And Lending Crisis Came To Beâ€ didnâ€™t have any statistics or numbers in them. J.C. Melvin, on the other hand, loves numbers and what he shares in this video is well worth watching, especially since itâ€™s NOT BORING.
Of course, the numbers are about Las Vegas in general, and theyâ€™re actually even better inÂ Downtown and Vintage LasÂ Vegas. Even the RJ is capable of giving us good news these days. Todayâ€™s RJ has a story entitled â€œDecember Brings Dramatic Increases In Las Vegas Home Salesâ€.
To tie it all together, I think that itâ€™s important that we start to remember once again that price and value arenâ€™t the same thing. TheÂ foreclosure sellers (banks) donâ€™t put much value on the homes theyâ€™re selling, so they lower the price to get themÂ gone. TheÂ owners of MOST homes in LasÂ Vegas (especially inÂ Downtown and Vintage LasÂ VegasÂ place a value on their homes thatâ€™sÂ MUCH higher than current pricing. Thatâ€™sÂ why there are so few nice homes for sale at the moment.
For the buyer, Itâ€™s quite the opposite.Â To the buyers, the value isÂ scoring a really cool house andÂ getting it while the prices and interest ratesÂ are low. JC thinks weâ€™re at the bottom give or take a few dollars. I agree.Â
Current Downtown and Vintage Las Vegas Home Owners â€“ If youâ€™d rather be one of the buyers, and you thought your current home is standing in the wayâ€¦.Then we should be talking about a trade in.