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Del Webb Homes | Dr. Jan Duffy REALTOR

55+ Community Specialist Las Vegas

55 and Older Communities Near Me

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The 5-Year Rule for Home Prices

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As a specialist in 55+ communities in Las Vegas, I find this topic particularly relevant to our Las Vegas 55 plus community.

The 5-Year Rule for Home Prices

The 5-Year Rule for Home Prices Simplifying The Market

a screenshot of a graph

Some Highlights

  • If recent home price headlines have you feeling worried, here’s some perspective.​​
  • Home values almost always go up in the long run. ​And the long-term gains offset any short-term dips. Basically, if you plan to live there for 5 or more years, you should be able to buffer yourself against any short-term declines.
  • Connect with an agent to have a conversation about what’s happening with prices in your market.

Dr. Duffy’s Local Insights:
In relation to the above, the Las Vegas 55+ housing market offers unique opportunities this season. For instance, www.searchforhomeslasvegas.com has the lastest news. It’s an exciting time for those considering a move to a 55+ community in our vibrant city.

Las Vegas Market Update: The current market shows https://drjanduffy.realscout.com/onboarding, indicating a great time for buyers/sellers in the 55+ communities.

The Advice First-Time Homebuyers Need To Hear

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As a specialist in 55+ communities in Las Vegas, I find this topic particularly relevant to our Las Vegas 55 plus community.

The Advice First-Time Homebuyers Need To Hear

The Advice First-Time Homebuyers Need To Hear Simplifying The Market

Buying your first home is a big milestone – and the right support is going to make it a whole lot easier.

Because while this process might be brand new to you, it’s not new to your agent. They’ve helped plenty of first-time buyers through it. They know what works, what actually matters, and how you can move through the process with a lot less guesswork.

Here are a few real-world tips based on that experience of helping other first-time buyers.

Tip #1: Get Pre-Approved First

Rocket Mortgage says this is one of the most common mistakes first-time buyers make. And it’s easy to see why. Looking at homes online is fun. But doing it before you know your numbers? That’s risky. You don’t want to fall in love with a house that’s way outside of your financial comfort zone. That’s a fast track for getting frustrated.

Instead, find your agent and talk to a lender early – before looking at any houses. With your lender’s help, you’ll be able to get pre-approved for your home loan. That’ll give you a better idea of what you’ll be able to borrow. And it helps you set a realistic budget. Then, your agent will be able to make you a customized list of homes, so you’re only seeing what’ll work for what you can spend. More clarity, less frustration.

Tip #2: Set a Budget and Stick To It

Remember, just because you can borrow up to a certain amount, chances are you won’t want to max that number out. It’s really important to avoid overextending your budget, especially in today’s market. Other housing expenses like home insurance, homeowners association (HOA) fees, and taxes are on the rise, and you need to factor those in. Bankrate offers this advice:

“When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.”

So, lean on the pros for advice on expenses you may not be thinking of, so you can work them into your budget. 

Tip #3: Don’t Skip the Inspection 

When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you.

Instead, work with your agent to schedule a real inspection. They’ll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed. It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later.

Tip #4: Your First Home Doesn’t Have To Be Your Forever Home

For a lot of buyers, this is where unnecessary pressure creeps in. But remember, you don’t have to land your dream home right out of the gate. That’s why it’s called a starter home. It’s a starting point, not your final destination.

An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership. The goal? Get in. Start building equity. Then, grow from there.

Bottom Line

Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Talk to an agent about where you’re starting from, what’s stressing you out (or holding you back), and what you actually need to know.

What’s one question you wish you could ask an expert right now?

Dr. Duffy’s Local Insights:
In relation to the above, the Las Vegas 55+ housing market offers unique opportunities this season. For instance, www.searchforhomeslasvegas.com has the lastest news. It’s an exciting time for those considering a move to a 55+ community in our vibrant city.

Las Vegas Market Update: The current market shows https://drjanduffy.realscout.com/onboarding, indicating a great time for buyers/sellers in the 55+ communities.

The Truth About Where Home Prices Are Heading

posted on

As a specialist in 55+ communities in Las Vegas, I find this topic particularly relevant to our Las Vegas 55 plus community.

The Truth About Where Home Prices Are Heading

The Truth About Where Home Prices Are Heading Simplifying The Market

There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story. Here’s what’s actually happening, and what the experts project for home prices over the next 5 years. And spoiler alert – it’s not a crash.

Yes, in some local markets, prices are flattening or even dipping slightly this year as more homes hit the market. That’s normal with rising inventory. But the bigger picture is what really matters, and it’s far less dramatic than what the doom-and-gloom headlines suggest. Here’s why.

Over 100 leading housing market experts were surveyed in the latest Home Price Expectations Survey (HPES) from Fannie Mae. Their collective forecast shows prices are projected to keep rising over the next 5 years, just at a slower, healthier pace than what we’ve seen more recently. And that kind of steady, sustainable growth should be one factor to help ease your fears about the years ahead (see graph below):

a graph with green barsAnd if you take a look at how the various experts responded within the survey, they fall into three main categories: those that were most optimistic about the forecast, most pessimistic, and the overall average outlook.

Here’s what the breakdown shows:

  • The average projection is about 3.3% price growth per year, through 2029.
  • The optimists see growth closer to 5.0% per year.
  • The pessimists still forecast about 1.3% growth per year.

Do they all agree on the same number? Of course not. But here’s the key takeaway: not one expert group is calling for a major national decline or a crash. Instead, they expect home prices to rise at a steady, more sustainable pace.

That’s much healthier for the market – and for you. Yes, some areas may see prices hold relatively flat or dip a bit in the short term, especially where inventory is on the rise. Others may appreciate faster than the national average because there are still fewer homes for sale than there are buyers trying to purchase them. But overall, more moderate price growth is cooling the rapid spikes we saw during the frenzy of the past few years.

And remember, even the most conservative experts still project prices will rise over the course of the next 5 years. That’s also because foreclosures are low, lending standards are in check, and homeowners have near record equity to boost the stability of the market. Together, those factors help prevent a wave of forced sales, like the kind that could drag prices down. So, if you’re waiting for a significant crash before you buy, you might be waiting quite a long time.

Bottom Line

If you’ve been on the fence about your plans, now’s the time to get clarity. The market isn’t heading for a crash – it’s on track for steady, slow, long-term growth overall, with some regional ups and downs along the way.

Want to know what that means for your neighborhood? Because national trends set the tone, but what really matters is what’s happening in your zip code. Connect with a real estate agent to have a quick conversation so you can see exactly what the local data means for you. 

Dr. Duffy’s Local Insights:
In relation to the above, the Las Vegas 55+ housing market offers unique opportunities this season. For instance, www.searchforhomeslasvegas.com has the lastest news. It’s an exciting time for those considering a move to a 55+ community in our vibrant city.

Las Vegas Market Update: The current market shows https://drjanduffy.realscout.com/onboarding, indicating a great time for buyers/sellers in the 55+ communities.

Selling and Buying at the Same Time? Here’s What You Need To Know

posted on

As a specialist in 55+ communities in Las Vegas, I find this topic particularly relevant to our Las Vegas 55 plus community.

Selling and Buying at the Same Time? Here’s What You Need To Know

Selling and Buying at the Same Time? Here’s What You Need To Know Simplifying The Market

If you’re a homeowner planning to move, you’re probably wondering what the process is going to look like and what you should tackle first:

  • Is it better to start by finding your next home?
  • Or should you sell your current house before you go out looking?

Ultimately, what’s right for you depends on a lot of factors. And that’s where an agent’s experience can really help make your next step clear.

They know your local market, the latest trends, and what’s working for other homeowners right now. And they’ll be able to make a recommendation based on their expertise and your needs.

But here’s a little bit of a sneak peek. In many cases today, getting your current home on the market first can put you in a better spot. Here’s why that order tends to work best (and how an agent can help).

The Advantages of Selling First

1. You’ll Unlock Your Home Equity

Selling your current home before you try to buy your next one allows you to access the equity you’ve built up – and based on home price appreciation over the past few years, that’s no small number. Data from Cotality (formerly CoreLogic) shows the average homeowner is sitting on $302K in equity today.

And once you sell, you can use that equity to pay for the down payment on your next house (and maybe even more). You could even have enough to buy your next house in cash. That’s a big deal, and it could make your next move a whole lot easier on your wallet.

2. You Won’t Be Juggling Two Mortgages

Trying to buy before you sell means you could wind up holding two mortgages, even if just for a few months. That can get expensive, fast – especially if there are unexpected repairs or delays. Selling first removes that stress and helps you move forward without the financial strain. As Ramsey Solutions says:

“It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.”

3. You’ll Be in a Stronger Position When You Make an Offer

Sellers love a clean, simple offer. If you’ve already sold your house, you don’t need to make your offer contingent on that sale – and that can help you stand out. Your agent can position your offer to be as strong as possible, so you have the best shot at getting the home you want.

This can be a big advantage in competitive markets where sellers prefer buyers with fewer strings attached.

One Thing To Keep in Mind

But, like with anything in life, there are tradeoffs. As you weigh your options, consider this potential drawback, too:

1. You May Need a Place To Stay (Temporarily)

Once your house sells, you may need a short-term rental or to stay with family until you can move into your next home. Your agent can help you negotiate things like a post-closing occupancy (renting the home from the buyer for a set period) or flexible closing dates to help smooth out that transition as much as possible.

Here’s a simple visual that can help you think through your options (see below):

But the best way to determine what’s best for you and your specific situation? Talk to a trusted local agent.

Bottom Line

In many cases, selling first doesn’t just give you clarity, it gives you options. It helps you buy with more confidence, more financial power, and less pressure.

If you’re ready to make a move but not sure where to begin, talk to a local agent. They’ll walk you through your equity, your timing, and your local market so you can decide what’s right for you.

Dr. Duffy’s Local Insights:
In relation to the above, the Las Vegas 55+ housing market offers unique opportunities this season. For instance, www.searchforhomeslasvegas.com has the lastest news. It’s an exciting time for those considering a move to a 55+ community in our vibrant city.

Las Vegas Market Update: The current market shows https://drjanduffy.realscout.com/onboarding, indicating a great time for buyers/sellers in the 55+ communities.

Should You Buy a Vacation Home?

posted on

As a specialist in 55+ communities in Las Vegas, I find this topic particularly relevant to our Las Vegas 55 plus community.

Should You Buy a Vacation Home?

Should You Buy a Vacation Home? Simplifying The Market

a screenshot of a cellphone

Some Highlights

  • Now that summer’s here, you may be planning your next getaway. But what if you didn’t have to? ​
  • Buying a vacation home means having a built-in escape you can use year after year. It gives you the chance to generate rental income and have a go-to retirement destination in the future.
  • If you’re dreaming of owning your own slice of paradise, connect with an agent to see if you can make it happen this summer.​

Dr. Duffy’s Local Insights:
In relation to the above, the Las Vegas 55+ housing market offers unique opportunities this season. For instance, www.searchforhomeslasvegas.com has the lastest news. It’s an exciting time for those considering a move to a 55+ community in our vibrant city.

Las Vegas Market Update: The current market shows https://drjanduffy.realscout.com/onboarding, indicating a great time for buyers/sellers in the 55+ communities.

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