January 2024 Las Vegas Housing Market Update

Ever wondered how the Las Vegas real estate market manages to sizzle even when the city's awash with Super Bowl mania? Join us, Trish Williams and Tiana Carroll, as we peel back the curtain on the housing hustle that’s keeping us all on our game. This episode isn't just about touchdowns; we're tackling market stats, advising on savvy offers, and even discussing the potential of homes turned senior assisted living facilities. 

While the glitz and glamour of football festivities have the city abuzz, beneath the neon lights, the property market is pulsing with a life of its own. We're here to break down the numbers that tell a tale of a robust market, coaching you through the plays of navigating pre-approval processes and dissecting what's really meant by a 'good' neighborhood. It's a real estate playbook designed for everyone from the rookie homebuyer to the veteran property investor, filled with pro-tips to help you score in this competitive field.

Gear up for a deep dive into the ever-evolving Las Vegas landscape as we explore the often-puzzling concept of neighborhood desirability and arm you with the tools to make that call yourself. Let's move past the football frenzy and focus on the real wins – finding your slice of Vegas paradise or making a smart investment move. With us as your guides, you're already ahead of the game.

Transcript

Speaker 1: 0:15

Hey Vegas, here we are again at Vegas Realty. Check local Las Vegas real estate news and it is our Market Update Week. I'm Trish Williams.

Speaker 2: 0:24

And I'm Tiana Carroll. Welcome back to the show. If you have like shared and subscribed, then you are alluded today that we will be doing our monthly Market Update. So all the numbers.

Speaker 1: 0:34

Yes, good, all the numbers, good fun stuff. All the numbers, and I have my phone out. Today I'm not texting. I promise you can text. I didn't put my numbers on my little notepad here, so I'm going to be looking at my phone for that. So there we are. Yeah, well, that kind of week.

Speaker 2: 0:52

That kind of morning, right, right, so it's December 8th 2020. No, february, okay.

Speaker 1: 0:58

Yeah, no, we're not 2024. Yeah, february.

Speaker 2: 1:01

That's how fast this year is going.

Speaker 1: 1:03

Right, it's January, now it's December. It does feel like it's been a year. So Super Bowl.

Speaker 2: 1:08

Week Super Bowl Week. Yeah, yeah, they finally got F1 and the bridges came down and everything cleaned up just in time for Super Bowl. And there's a lot going on.

Speaker 1: 1:18

There is a lot going on Like it is. Vegas feels like it's like chaos right now.

Speaker 2: 1:23

Yeah, it's sort of exciting. There's buzz everywhere. You got the entire television studio set up there in front of the Bellagio Fountains, which is crazy. There's things happening. What is it? The Pepsi has something going on at the Luxor Mandalay Bay. It has the whole NFL experience. That starts today 3 o'clock.

Speaker 1: 1:43

Yeah. So my favorite thing is the signs that are on the freeway that says fans don't let fans drink and drive yeah, and they send our message out to all you tourist out there. Just remember that.

Speaker 2: 1:55

Yeah, exactly, end up with everything within quote unquote walking distance. Have you ever walked the strip? Do we consider that walking distance? Yeah, yeah, I think Chacha and I did like 11 miles on a scavenger run up and down the strip one time and I was like this is nuts. People do this.

Speaker 1: 2:13

Yeah yeah, there's a lot of walking. Bring your walking shoes.

Speaker 2: 2:18

Bring your walking shoes. Don't try to do that in heels.

Speaker 1: 2:19

I feel sorry for some of those girls when I see them Like wow.

Speaker 2: 2:23

Yeah, that's the kind of like the little ballerina and flip-flop vendors Ballerina slipper and flip-flop vendors on the strip and sometimes there's um, and that was brilliant.

Speaker 1: 2:32

Brilliant Good job people.

Speaker 2: 2:33

Yeah, or the vending machine that does the foldable flats.

Speaker 1: 2:35

Yeah, those are nice. I've never seen those yet. I don't go to the strip often.

Speaker 2: 2:40

Oh yeah, no, I love it, I love the buzz, but you already know that yeah.

Speaker 1: 2:45

So yeah, I mean, besides Super Bowl, there's not Really much Wait, is there anything else besides Super Bowl? Everything on the news, everything local, everything is just talking Super Bowl. So they forgot about real estate this week. Hopefully they'll pick up next week.

Speaker 2: 3:03

Yeah, yeah. This week is on pause because we're all letting our inner sports fan out.

Speaker 1: 3:08

Yeah, even my Vegas. I have a Las Vegas real estate like Google Alert setup, you know, to let me know any like news headlines. Yeah, yeah, yeah, even that's filled with Super Bowl. I don't think this isn't really real estate, or is it? It kind of is I don't know it kind of is hey, Super Bowl fans, you're looking for a home here you love this place. Where are your girls?

Speaker 2: 3:28

So I was talking with a friend over the weekend and he was saying, like because we're set up at such a hospitality city and we're using our new slogan, the fun economy, to sort of describe Vegas on a global, you know, come check out Vegas, our fun economy, and we have all the hotel rooms and all of the sort of infrastructure for that tourist in place that he thinks that Super Bowl is going to be something that's pretty regular here, like every third, fourth, fifth year. That's awesome. How awesome would that be? Yeah, we're a great spot for it. We are a great spot for it. I don't know how often they switch cities because I don't know football like that. I mean, I know football, the game, but I don't keep track of.

Speaker 1: 4:11

I'm embarrassed to say I don't even know who's playing so.

Speaker 2: 4:14

Oh.

Speaker 1: 4:15

I don't know who's playing.

Speaker 2: 4:16

I don't know if it's all of the football at all. Well, if you've been under a rock like Trish it is the San Francisco 49ers versus the Kansas City Chiefs.

Speaker 1: 4:25

Oh okay, so Taylor Swift's boyfriend's team's playing yeah.

Speaker 2: 4:29

Yeah, taylor Swift's boyfriend's playing.

Speaker 1: 4:33

I do know that part Right. So for numbers this week, back to our real estate show.

Speaker 2: 4:40

Oh, I thought we were going to give up real estate, just like the rest of the city, and just do sports today.

Speaker 1: 4:45

Yeah, dang it Back to our real estate show.

Speaker 2: 4:48

Okay.

Speaker 1: 4:49

We have active inventory for the week is 33.63. Very close to last week's number, yeah.

Speaker 2: 4:55

Yeah, it's all seems the same. I was a little bummed about the 282 sold yeah.

Speaker 1: 5:01

Second week of February. What do you expect? Yeah, yeah.

Speaker 2: 5:05

Yeah, it's okay.

Speaker 1: 5:06

Oh, that's all right. Last week was a lot better number, but you know we're still second week of February. I think we're fine there. Yeah, so we have three races 339. Those are hovering right around the same area. Yeah.

Speaker 2: 5:19

But did you see the under contract? Yep, there's a lot. Yeah, there's a lot of properties under contract. We have 638 of them.

Speaker 1: 5:26

That is correct. We are getting a lot of those into escrow, so that's a good thing.

Speaker 2: 5:33

Yeah, that is a good thing, and I guess once we go ahead and flip through all of the numbers for January, we'll know exactly what that December look like. Yeah, so the December 40 and slip came from this morning.

Speaker 1: 5:45

Yeah, Kind of there. Yeah, so units sold in single family units in January was 1479. That's up. That was a big jump up from December. So we've seen that. I mean I seen in the market. You know, everything was just like the light switched on and we were added again in January.

Speaker 2: 6:10

So yeah, and besides a couple of rainy days, february seems to be every bit as busy as January was.

Speaker 1: 6:17

Yeah, do we get rain now. Like what is this OK?

Speaker 2: 6:21

so rain and snow and all sorts of things, like this morning when I left, the clouds were still on the mountain, but as the day begins to break, the clouds are lifting and from the Southwest, past Red Rock, up to Mount Charleston, even going around the north to Sheep Mountain, is all dusted and like powdered sugar. It looks so beautiful, it is beautiful. All that California rain that's happening has brought a little bit of rain into the valley. We haven't had flash floods or anything, but we have gotten a lot of snow surrounding, like in Tahoe, big Bear Mammoth. And there was avalanches at Lee Canyon yeah, there was.

Speaker 1: 7:03

Right here in the valley. Yeah, so yeah, we're getting weather that we're not used to. Usually, in February, summer starts. I don't know what's going on.

Speaker 2: 7:12

Yeah, well, last year we got that winter late, which means that, well, it doesn't mean, but it's possible, seeing as we're here, february 8th, and we have our first real sign of cold. Well, second, we had a little bit a day or two last week.

Speaker 1: 7:27

Right. So my second favorite thing, besides the crashers that we always talk about, like the people waiting for the market to crash is the people waiting for Vegas to dry up Like the people that say, like we're going to run out of water and I'm like, yeah, so every time I see rain I'm like ha ha. That's not happening either.

Speaker 2: 7:48

Yeah, california's going to wash away and we're going to be a couple hundred miles closer to a beach than we were. It feels at least that's what it feels like when I see the videos.

Speaker 1: 7:57

Yeah, yeah, yeah, definitely it's California's got sorry California.

Speaker 2: 8:04

I'm sorry for California. They're having a minute right now.

Speaker 1: 8:08

Yeah, yeah, not good.

Speaker 2: 8:10

I wish we could just reclaim all that rainwater form, be like hey, we'll just store it down our lake, it'll be fine. Yeah, we should have some big tunnels.

Speaker 1: 8:17

That just leads into Vegas.

Speaker 2: 8:19

They're going to have the boring company make a tunnel just for the water.

Speaker 1: 8:23

That would be brilliant, Elon. What are you doing? You're not working on this yet.

Speaker 2: 8:28

They're like we got to get us a train first. Yeah, the tram, the tram and the tunnel.

Speaker 1: 8:35

But yeah, we'll figure it out. We got smart people these days, I think Maybe I don't know they're out there, so back to market numbers.

Speaker 2: 8:44

We're eventually going to get to it. You guys Just saying tight, we're going to get there.

Speaker 1: 8:47

It's fine, it's fine, we're good. So new listings we had 2432 new listings, which that sounds like we're getting a good amount of inventory, but when you look at there our inventory numbers today, they're selling, so we still aren't really. Our inventory hasn't really increased, even though our new listings have gone up Well, actually not up from December, though.

Speaker 2: 9:10

No, it's a teeny tiny bit of a decline, not quite 2% like 1.8 or something, but it's a teeny tiny bit of a decline for those January numbers, which is only giving us like the effective availability of less than 2 and 1 half months Right.

Speaker 1: 9:25

OK, and the units available was at 3551, where today?

Speaker 2: 9:30

they were at 3363.

Speaker 1: 9:32

So we're down not only from December, but even down today, from where it was end of January, which was last week. Yeah, eight days ago, yeah. So yeah, that's where we're looking at there.

Speaker 2: 9:45

So we need inventory kids. Who wants to sell a house? If you want to sell a house, let us know. This is your time to shine. With low inventory, that puts the ball in the seller's court.

Speaker 1: 9:57

Yes, Condos and townhouses. Units sold up almost 20%.

Speaker 2: 10:03

Yes, 476 of them sold last month, and that is up.

Speaker 1: 10:09

Yeah, yay. That's just showing those buyers out there like, hey, we're ready, we put it off long enough, we're ready to go. New listings Up 22.6%, almost 23% at 7.81% for the condos and townhouses.

Speaker 2: 10:26

Yeah, and that makes the available units 1,136 condos and townhouses. Now that's the only number that's down when we get to that number, right the units available, because both the units sold in the listings have gone up and substantially 20-22%. Now we're down almost 8% there on the available units sold and we have the same two and a half months of inventory left in that condo. I say it all the time our condo townhome market is strong. Yes, it is the prices are up.

Speaker 1: 11:00

Your median price of units sold for condos and townhomes are now 275, which is up 7.8% from December. And single family is up too. Yep, single family is up at almost 5% 445,000 for that median price range. Indeed, indeed, indeed, and that's of units sold. Now there's a big jump between the median price range of new listings versus units sold.

Speaker 1: 11:27

but where again we have to like circle back 30 days. Unit sold median price range is like December contracts closed in January and median price of new listings when you go single family sold is at 445,000, but the new listing median prices at 490, showing those list prices are already getting higher guys.

Speaker 2: 11:52

Yep, and that's what I said. If you want to sell and that was your time to shine, boy- yes, it is, we are brace yourself, we're in this market again. Hey quick, if you can see on screen, I want to do a quick shout out to the 19th hole and our producer. They got us these cute Vegas Realty Check coffee mugs. It's definitely coffee in here, Wink. Yeah, it's actually water.

Speaker 1: 12:17

I was gonna say do you have tequila in yours? Why are you winking?

Speaker 2: 12:20

No, it's too early for tequila, which are words I never ever thought I would utter, but here they are. It's water folks in my cool little Vegas Realty Check coffee mug. So thanks, 19th hole and Dennis and our producer Rick.

Speaker 1: 12:34

We love our coffee mugs. Thank you, thank you, we do, we do, we do. All right, so we got into unit sold median price range. Average price range of units sold was higher than the median price range, of course, and that was at 569.513.

Speaker 2: 12:53

Right. Did you ever see the average price point in Vegas? Did you ever think it was going to be almost 600 grand 569? Yeah, Do you remember when we were cheap, Like yeah, and that wasn't that long ago? I mean within the lifespan of a, let's say, a dog? Within that 10 years it has completely shifted here in the valley.

Speaker 1: 13:14

Yeah, I have some people that were looking, you know, in the 500,000 price range and there was a time not too long ago where it's like 500,000, we could get a single story house with three car garage, with a pool. No, problem.

Speaker 2: 13:28

Oh yeah, If you're like 16, 17, 18, any day of the week we can do that.

Speaker 1: 13:33

Yeah, like that was totally doable and now it's like 500,000.

Speaker 2: 13:36

Well, that's a cute little three bedroom, two bath in July.

Speaker 1: 13:40

Yeah, 2000 square foot now You're asking for way too much. Yeah, so it is. That has definitely changed.

Speaker 2: 13:49

That's so crazy to me. Yeah, I mean, we've been here a minute. Yeah so we've seen all of the markets and most of them happened in 2022. Yeah, and this is true. So average price point per unit 569,000. That blows me away.

Speaker 1: 14:06

Yeah, that is, but it's what's out there, but the average price point for new listings was even higher.

Speaker 2: 14:15

Oh yes, Did you see that?

Speaker 1: 14:16

683, 033. Lots of threes there, yeah.

Speaker 2: 14:22

Well, there's been a lot of threes in our numbers lately.

Speaker 1: 14:24

Yeah.

Speaker 2: 14:25

And our sold today or available units today were 3,363. Yeah, but yeah, if you look at that, it's 683,033 dollars.

Speaker 1: 14:34

So that's the average price versus the median price of new listings, which is 490,000. So that's, when we talk median, we're talking like your standard entry level home.

Speaker 2: 14:46

Right, well, yeah, and that's taken, like all of the sort of oddball things, off the market, like the super expensive one or the super cheap one, and that's just what the average average is. Yeah, the average average that's an official real estate term. You guys are welcome, that's wonderful.

Speaker 1: 15:05

So time on the market. Units sold. So over half of them 52%. We're selling in less than 30 days. Yeah, yeah, getting into the 31 to 60 day.

Speaker 2: 15:18

that was what's our number there 31 to 60 days is 22.7% of those homes.

Speaker 1: 15:27

All right.

Speaker 2: 15:27

So that's what's sold in January of 2024.

Speaker 1: 15:31

61 to 90 days. We're looking at about 12%.

Speaker 2: 15:35

Yeah, and about 7% for that 91 to 120 days. Yeah, and then so again such a fast moving market. Now that number is actually down from December, like the amount of days on market, because it's at 50, let's say 53 for all practical purposes now, and it was about 58 in December. So a teeny, tiny little drop.

Speaker 1: 15:57

So we are broaching the challenges of getting some sellers that are unrealistic right now.

Speaker 2: 16:06

That's because they're listening to me going sell now it's in your advantage.

Speaker 1: 16:09

Well, yes, the market is increasing, but so we're now getting the sellers that want to overpriced because the market's increasing. And they're hearing the market's increasing like, oh, I'm going to raise my price to 100,000.

Speaker 2: 16:21

Yeah, that's where we're seeing these price reduction numbers coming in. Yeah.

Speaker 1: 16:26

So they're overshooting for what they think the market's going to be Like. We have picked up, we are moving along, we are getting things sold, often in less than 30 days, but we still do have buyers that Everything's really close to this price. Yes, and buyers do want to see comps. Still, they do. We're not in that 2021 market where nobody cared about comps.

Speaker 2: 16:50

They're just making it rain. They're like we'll take it. Here's all my money. Yeah, we're not there yet. No.

Speaker 1: 16:56

We're not going to get there this year because, even though rates are coming down, they're not 3%.

Speaker 2: 17:01

Right, they're not dropping to free money.

Speaker 1: 17:03

Yeah, so we still are going to. We have to reel the sellers back in when we're talking to them of like, hey, we still have to listen to reality here.

Speaker 2: 17:14

Yeah Well, the market will always tell you what the market's going to do. Period.

Speaker 1: 17:17

The market makes the choices it does.

Speaker 2: 17:19

It is its own life force. It is doing what it wants. It's living its best life, yeah.

Speaker 1: 17:25

So we got through all the market trends. Did we miss anything here?

Speaker 2: 17:29

Nah, all the rest of it's just graphs and stuff, but it's all the same basic information.

Speaker 1: 17:34

Yeah, and you can always reach out to us for these graphs. If you want to get all of that basic information and get some graphs, give us a call. We're happy to share those with you.

Speaker 2: 17:43

Yeah, if you love graphs and numbers, we could totally get those to you.

Speaker 1: 17:47

Absolutely so we do have some listener questions that it looks like we'll be able to hit on a couple of those today, which is very nice, because I didn't know that we'd get to any of those with our market report happening.

Speaker 2: 17:58

But we will close the numbers there. We got through that pretty quickly. That happened. I think we're getting better at that. Yeah, we're working on that. We're just like listen, do you like numbers? Here's what's happening.

Speaker 1: 18:09

Yeah.

Speaker 2: 18:10

It's kind of the same. Remember last month, just minor changes.

Speaker 1: 18:15

Absolutely, here we go. Our first question is Thomas. All right, thomas is interested in a house that's first sell it's $15,000 more than what he's approved for. Okay, and he wants to know, first off, can he offer less or can he get pre-approved for more? So the answers could be yes to both questions. So let's talk about that a little bit.

Speaker 2: 18:37

Okay, so I'm not the lender, so getting pre-approved more, I have a rudimentary knowledge that that's all based on your debt to income, your credit score. If they're going to give you more money, usually they give you kind of what your ratios will tap you out at. Yeah, it's not like they're saying, oh, you could get $500,000, but, just kidding, there's an extra $565,000 in there for you.

Speaker 1: 19:00

Yeah, but sometimes there is a thing that lenders do when they give you a general pre-approval is they're going to factor in your homeowner's insurance estimates and your property tax estimates, and sometimes they factor in a little bit of a pad for an HOA, assuming that you're going to get into a home that has an HOA or something like that. So If you're 15,000, which might sound like a lot, but it's not a lot when we're talking about pre-approvals.

Speaker 2: 19:29

Yeah because over the course of that loan, 15,000 is nothing.

Speaker 1: 19:33

Yeah. So one of the things that you could do, thomas, is reach out to your lender and ask them to run the numbers on this specific property so they'll have more accurate estimates, rather than the estimates that they build in the averages Right and that 15,000 may be able to be found in that you know the HOA difference or the property tax difference or something like that. Sometimes they'll say it's as easy as paying off a credit card or two to knock down that debt to income ratio and get you there to pre-approval. So sometimes it's doable. But talk to your lender.

Speaker 2: 20:05

Yeah, it's doable. And on the flip side, on the offer side, in certain markets it's very doable. So that's when you have to really have an agent who has a good understanding of the market and if we are in a situation to start asking for some concessions and that 15,000 would be a concession.

Speaker 1: 20:23

Yeah, yeah. And another thing is comps. Look at the comps for the property. Yep, Because, as we mentioned earlier, there's some sellers that are overshooting Right and where the comps actually are could be less. And that could be your, I guess, argument. We don't want to say argument is a word.

Speaker 2: 20:41

Well, your stance right, like the price. The house is overpriced in comparison to the market. So if there's nothing causing that to be overpriced, then, other than a delusional seller, then there's a very real price, a very real chance that you can get it at the price that you're actually qualified for, right and what I often Because appraisals are going to be a part of that- Appraisals are a factor as well.

Speaker 1: 21:02

Yes, and what I often do in a situation like that is just go back and, when we're sending the offer, actually send, like, the comparables along with the offer and says I know that you're asking this amount. However, after reviewing the comparables and taking the appraisal and the fact, like, as a factor in the overall circumstance, I think that this is more market value and this is where our offer is Right. Yeah, so, yeah, so, yeah, it's definitely. I wouldn't shy away from it, thomas, give it a shot and again, at the end of the day, the worst they can say is no Right and you just don't get that house.

Speaker 2: 21:38

And there's more than one house available on the market. Yeah, matter of fact, today there are 3,363 houses available on the market, so one of those might be your houses, thomas.

Speaker 1: 21:49

Yeah, and every day new listings come up. So today a house could come up that is Could be the one, the one. You only need one, yep, you only need one. So yeah, don't shy away from that, thomas. Just go forth with it and work on that.

Speaker 2: 22:03

Yeah, so there was a question that came in from a listener and I thought would be excellent for you because I know for a fact you've dealt with this in the past. You had a client that wanted to turn some keys in or turn some keys ha-ha turn some homes into a senior assisted living. Yeah, so we have a question from Marilyn. It says I want to buy a home that I can turn into a senior home care facility. How do I do this?

Speaker 1: 22:29

Yes, so that question, Marilyn, and this is I think there's been a TikTok video on this or something. I'm not on TikTok so I don't know for sure, but I've been. Whenever I get here like so, like a lot of the same question or the same type of thing, that's like outside the box. I'm like, OK, someone did a TikTok on it.

Speaker 2: 22:50

OK, yeah. Or it is always the infomercial ads on YouTube oh, ok, yeah, yeah. Learn how to buy an apartment with none of your money. Get in to buy a home with a group of your friends. Get a house and turn it into an Airbnb. Buy a house, turn it into a senior facility. Yeah, so those ads get people interested in outside the box ways of doing real estate.

Speaker 1: 23:17

And making money right. Yay, who doesn't love money? Yeah, these senior care facilities the questions come up quite a bit over the last couple years.

Speaker 2: 23:26

Yeah, Well, I think everybody in general is trying to get creative on how they're going to make money in the future, or having multiple strings of income or passive income to move forward.

Speaker 1: 23:36

Right, right. So what I learned from the last client that I worked with, similarly on this topic, which I wouldn't by any means call myself the expert here?

Speaker 2: 23:47

No, I would not call myself the expert here either, but again, it's something that we deal with. Yeah, so we have at least a basic knowledge.

Speaker 1: 23:56

Yeah, so for the last one, I know that they had applied or spoke with some licensing division on getting these senior care licenses.

Speaker 2: 24:05

Right, because it's not just buying a house and then you're open for business. There's zoning, there's licensing, there's making sure that the house is up to code for those type of licenses.

Speaker 1: 24:19

Yes, and they did have some perimeters in place of where you could or could not operate these types of facilities.

Speaker 2: 24:25

Yeah, All part of zoning.

Speaker 1: 24:26

Yeah, that was a factor. Another thing that came into play was that what are they called like fire suppressant devices?

Speaker 2: 24:39

where mandatory, you have to have sprinklers for certain licenses and you have to make sure that there's that fire panel on top of the electrical box. And, yeah, when you're dealing with caring facilities, there are definitely some restrictions that aren't necessarily used in regular traditional real estate but are absolutely necessary if you're going to convert a single family home into a business.

Speaker 1: 25:05

Yes, and these fire suppressant systems can average somewhere around $30,000 to $50,000 to put in. So what I've seen with this and in Maryland I'm actually working with Maryland at the moment. So with Maryland on this situation, we are shopping. There's a field on the MOS so we're searching strictly homes that have the fire suppressant system already in place because that eliminates a lot of the cost of it.

Speaker 1: 25:38

So then we're just kind of working backwards from that with the zoning, with the fire suppressant system to get in there, Single stories unless you have an elevator of some sort in the home, single stories are probably your most the best thing to do there. Hoa HOAs can have a lot of HOAs have restrictions against having a operating a business within the HOA.

Speaker 1: 26:03

So you probably want to look non-HOA and larger lots and the pool thing. I've heard you know both sides of the stories on this but I think for liability reasons most people are trying not to get a home that has a pool.

Speaker 2: 26:23

Yeah, most people would definitely not want that liability. Now there are certain cases that I've seen them turn into like senior rehab facilities Exactly, and they've used the pool for their physical therapy and in that case then they have to have the handicap chair crane to get in and out, yeah, clients in and out of the pool. But for the most part when people are thinking senior facility, they're not thinking fun pool time.

Speaker 1: 26:47

Yeah yeah well, if I was ever in a senior facility, I would want fun pool time.

Speaker 2: 26:53

Yeah well, you want fun pool time all the time. You're probably waiting for this snow to melt so you can get fun pool time.

Speaker 1: 27:00

Yes, so, so, yeah, another another thing that that you could keep in mind is there are and I've I've ran across, I'd say, two or three so far on the MLS that their businesses that are already in place, with the licenses already in place, that you can purchase. Now you're not. That's not the purchase of the home, the purchase of the home separate from the purchase of the business, but that it depends on what you're looking for. Do you want to start this ground up on your own or are you want to turnkey business that you can just get up and operating?

Speaker 2: 27:33

Yeah, that's one of the things when I was looking into doing the facility for the first time was sort of working backwards, finding out what facilities are in the area, how many open beds they have, what's their vacancy rate, what's their occupancy rate, and sort of going from there, and in that process we ended up just buying a business that was already in place.

Speaker 1: 27:53

Yeah, yeah, so. So that is, that's definitely an option. It just depends on really what you want to look for and what what you're willing to put into it, because getting all the licenses and all that stuff is a that's a feat of its own.

Speaker 2: 28:06

Yeah, and that's exactly it. Because you have a the real estate transaction in the zoning that you have to deal with, then you actually have the licensing for that particular business and then it's actually fashioning the house to the safety of the requirements of that license. So it's no small task but really good heart. I think that senior care facilities are something that are definitely needed.

Speaker 1: 28:28

Oh yeah, absolutely. We have time for Ryan's question. I think we can hit it.

Speaker 2: 28:34

All right, you got one minute and 33 seconds. There's that three again. There we go. So Ryan Ryan this is a trick question. I just want to say Are you setting us up, Ryan?

Speaker 1: 28:44

I was like whoa, I don't want to touch that one.

Speaker 2: 28:48

I feel like defined good. All right, let's read the question first off, ryan, I want to make sure that the home that I am buying is in a good neighborhood with no crime. What are the best neighborhoods to buy in? Yes, well, no crime. I don't think there's any crime on the moon, right? Have you been there?

Speaker 1: 29:06

Yeah, we definitely attended real estate license school. We do not want to touch this question with a 10-foot pole.

Speaker 2: 29:12

But no.

Speaker 1: 29:13

So the reason why realtors often and you will hear this a lot, and I've had people actually besides Ryan just come and say like why can't you just tell me what's a good neighborhood? And no, because we have to talk fact about fiction or opinion and fiction Fact not opinion. So what I consider, I could say this is a great neighborhood because everybody has dogs and walks them around the neighborhood in the park and I love that.

Speaker 1: 29:43

And I think that's a great neighborhood. Yeah, no, I'm a cat person. That neighborhood's not that great for me, right? And you could be like, yeah, that neighborhood's awful, why didn't you tell me that this neighborhood has so many dogs in it, like that's. So what you consider a good neighborhood and what I consider a good neighborhood could be two completely opposite things, right? And back to what you said about crime. I mean everywhere, everywhere, the whole world, the whole world has crime. Have you been out there? Yeah, and if there's no crime today in the neighborhood, that doesn't mean it's not going to happen tomorrow. So I, as a realtor, we can't attest to that, like say that you're going to move in this crime free zone unless we're putting you in a bubble off the planet somewhere.

Speaker 2: 30:21

Yeah, what we can do is we can be the source of the source and go ahead and let you give you links to, say, metro, so that way you can see the crime and what type of crimes happen in that area. But I think this is just so subjective. A good neighborhood when I meet with people, my big thing is let's talk about how you're going to live. Do you hate a commute to work? Do you want to be in the country? Do you want to be next to nature? Do you hike? Do you want to be next to the lake and be on the Henderson side Right?

Speaker 1: 30:50

So you want to be in a gated community and an HOA, or do you consider an HOA a bad neighborhood, because that could be something that someone yeah yeah.

Speaker 2: 30:58

Some people don't want to be told what color they have to paint their door. They have to park in their garage instead of the street.

Speaker 1: 31:03

Right, so it really. Yeah, it's subjective to what's important to you and what you consider a good neighborhood. And then again, maybe schools are a factor, maybe the school is more important than the color of the houses around you.

Speaker 1: 31:19

Yeah, you know like okay, I don't, you know these, these. My neighbors have a pink house and I hate having neighbors with a pink house, but you're in a really good school zone, so some people would care more about that than the other, and you know. And some people want to paint their house pink and want to be in the neighborhood where they're allowed to. Yeah, so it really just depends on what's important to you, and there's plenty of resources available. Yes, as you mentioned the crime maps, you can look up the Las Vegas Metropolitan Police Department. Yep, they have a crime map that will show you how much crime and what type of crime is in the area.

Speaker 2: 31:54

Right, and the same thing with the school districts. You can go in the school district and get the school rating and I think that's all part of the quote. Unquote due diligence period, homework for that buyer. It's not just like, okay, I love this house, let's put an offer in it. You have to make sure that it is the right house for you, for your lifestyle, for your family, and no realtor on the planet should be able to make that decision for you. And if they are, you got the wrong realtor. Yeah, they can guide you, they can be the source of the source.

Speaker 2: 32:23

I love to take people around and just show them all the different character and variety of lifestyles you're able to live in Vegas, and just that tour around the city usually gets people to go. Oh my gosh, I love the lake. I want to be in Calico Basin or Lake Las Vegas or right in Henderson, so it's a hop, skip and jump. When other people love Calico, I mean Calico Ridge and, on the Henderson side, calico Basin on the summer one side, because they like the hiking and being accessible to outdoor.

Speaker 1: 32:55

Right, and what I see a lot here, just like a local thing I guess you know, is like there's some people that like love Henderson area, so much Like. I will not go out of here Like a cold ball. That's my spot, and those people sometimes like hate summerland area yeah and vice versa, so like there's like little beef wars there, so beef.

Speaker 2: 33:17

I haven't heard that in a minute. What's up? They got beef with Henderson, you got beef with each other?

Speaker 1: 33:21

No, so, don't. So, no, yeah, and it's really. It just goes down to lifestyle preference.

Speaker 2: 33:26

you know, and some people have yeah, and what's?

Speaker 1: 33:28

good to me might not be good to you, right, absolutely so, ryan, sorry we're not?

Speaker 2: 33:32

Sorry, we can't help you, dude. No, I'm just kidding. We can help you. We can be your source of the source. Yes, so get you all the information you need when you define what good is.

Speaker 1: 33:41

Yes, and to talk more about how to get to those sources, or how to find what's right for you, or the right area for you, or the right home for you. Right, and talk about that lifestyle that you want to live. How do people reach out to you?

Speaker 2: 33:54

Well, if you have listener questions, make sure you. Well, I'm Tiana, by the way, and you can just call me or text me, 702-379-9948. And if you have listener questions that you'd like answered on air or anything, you can send us an email to vegasrealitycheck at gmailcom and we can answer those questions on air for you. And then if you'd like to just have a conversation, like I said, you can call or text me, or you can call or text Trish.

Speaker 1: 34:20

Yes, and my phone number is 702-308-2878. If you go to our website, realteacheckvegas, you will see that we are now like at this great link tree page that links you to all of our sources.

Speaker 2: 34:36

So you will be able to get our audio download.

Speaker 1: 34:39

You'll be able to get our access to our YouTube, even our personal social media, so we will be linking you all to, but more like our personal social media, because I don't really do social media that well I hear you're on TikTok a lot I'm not on. Tiktok. So I don't know if this is true.

Speaker 2: 34:56

I am on TikTok, no I am on TikTok, but it has absolutely nothing to do with real estate. It's just fun, it's all just fun.

Speaker 1: 35:04

Yeah, don't look for me on TikTok. If you find me there, it's not me.

Speaker 2: 35:07

She's like that's not me. I don't even have the app, so no.

Speaker 1: 35:11

And watch people try to like hack. A fake me now, so there'll be a fake me on TikTok.

Speaker 2: 35:14

Right, there'll be a deep fake Trish on TikTok.

Speaker 1: 35:17

Yeah, don't listen to her.

Speaker 2: 35:18

Don't listen to them.

Speaker 1: 35:20

She's a liar. Yeah, all right Vegas, all right. Well, thank you, and we will see you next week.

Speaker 2: 35:26

Yeah, have a great week Vegas, bye, bye.