Housing Market Projections | Las Vegas 2020

What should we expect from the
housing market in 2020 in this video, we’re going to take a look at what
factors will affect the housing market in this upcoming year, including job market. What does the gaming and
non-gaming outlook for the economy? Is there any projects that will be coming
up in this next coming year that could move the economic needle in Las Vegas as
well as many other considerations that will contribute and play a role in the
Las Vegas housing market in 2020 I’m Adam Hopkins of exp Realty. I’m a local real
estate agent and I absolutely love it. Before I was a real estate agent, I
was actually in corporate America. I was the vice president of sales and
marketing for a national company and I wanted to have the daily grind because
I have six kids and now three grandkids. We you can believe that I fell in love
with real estate through investing and I discovered there’s a great need for
really good agents in this market and so I jumped into this and I absolutely love it. The Las Vegas market is booming and it
has been over the last couple of years. There’s no expectation of
it slowing down. In fact, I think it’s going to get
you better. First of all, we have the California effect and this
isn’t going away anytime soon. In fact, 50% of all Californians in a recent
poll survey that they would like to move away from California and this is
feeding all the local States, Oregon, Washington, Nevada and Arizona as well as Idaho
benefiting from that mass exodus, California suffered its worst growth
rate since 1901 so let that sink. The job market in Las Vegas
has done very, very well. We went from one of the worst States
in the United States at over 13% in unemployment to as low as 4%. things have been very good and that is
all despite growing at such rapid pace. Our job market is looking very healthy.
Coming up for the next few years. The Las Vegas Raiders are the
latest California transplants
that are coming into town and it starting in 2020 this is
expected to have a huge boost to our Las Vegas economy. Just imagine every week NFL fans will
be reminded what a great place Las Vegas is to come and visit and
possibly even move to. Having the Legion stadium also provides
a venue to be able to have events here that were never before possible. In fact, they’re finding that planning big
events are happening faster than they anticipated. Las Vegas Raiders is
hard, limited only new game in town. We’re going to have our first new major
casino opening in 2020 the new resort world. It’s the first major resort to open
since the cosmopolitan approximately 10 years ago, just in construction. Cost is over $4 billion being invested
in Las Vegas as well as many new jobs. There are a ton of massive new projects
that are expected to open either at some point this year or early next
year. You have the MGS sphere, you have the new convention center,
you have many different renovations, millions, well billions of dollars
being invested in Las Vegas. So let’s talk about some other factors
that are going to be affecting the housing market. Let’s consider the
investors that are coming into the city. Unfortunately, due to the growth, we
have the highest increasing in rent. I’ve seen it reported as much as 15%
increase in rents just this past year. This is going to continue to drive more
investors to buy up properties here. Don’t forget that the Chinese investors
came out of the market in about August of last year, about the time when the
trade Wars were just getting started. So now that there’s a
tentative deal in place, I expect that money to start
coming back into this market, which is also going to continue to put
a greater pressure on the inventory. Thus driving up prices moving forward. Interest rates have been
terrific at this time. According to three industrial forecast, the trend towards a lower mortgage
rates will continue well into 2020. Freddie Mac just reported an average of
3.65% rate on a 30 year fixed rate loan, a whopping 1.06% lower than
it was this time last year. Freddie Mae and FHA have both announced
that they’re increasing the amounts that they will loan to consumers by 5.3%
giving buyers more money to be able to buy more homes. Conventional loans are now $510,400 while
FHA is $331,760 giving you more buying power for the students. All of this points to way better than
expected demand for housing here in Las Vegas Nevada. I think that there was some cautious
pull back last year as a kind of wait and see. They weren’t sure if the economy
showed some signs of potential weaknesses, but with such favorable economic
indicators of locally and nationally. I see the trend for next year being more
like 2018 than it will be 2019 which is the safe, a very strong
competitive market. So if you own a home already, you’re going to see your equity jumped
quite a bit, possibly anywhere from, I think the floor will be
6% and the ceiling to be as
high as 13 14% increase in values and homes in this next company. So this is the year you
plan on buying a home. I suggest getting started
sooner than later. Also, you should probably expect to
go up against multiple offers. So in this type of market it’s imperative
to get an agent who has the skill set to be able to get your offers accepted
over comparable offers or even better offers. So keep that in mind when you’re
interviewing agents to apply for the job. Now, if you’re looking
at selling your home, this is the kind of market where just
about any agent can sell a home. However, the right agent can get you significantly
more money when you have proper skillset in the negotiations. This is where my corporate background
has really helped me out when I was negotiating and dealing with
multimillion dollar contracts. If I seem like the right fit
for you as your next agent, I would love to apply for the job. There’s a form below that you can fill
out to set up a time to meet or just call or texts the number below and you can
reach me and we could set up a time to meet. If you live outside of Las
Vegas, I can still actually help you. I have a network of agents throughout
the entire country that know how to get these kinds of results and I love to help you and connect you with one of those
agents that can deliver superior results. Thank you so much for watching this video. Please take a moment to like subscribe
and hit the bell so you can be notified when I do my next video. But take a look at one of these other
videos for additional information that’s going to help you get the home you want.
I’m Adam Hopkins. Thanks for watching.

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