Las Vegas' housing market was in bleak shape a decade ago. Property values had plunged, banks had foreclosed on homes throughout Southern Nevada, and builders' sales had evaporated. Today? Prices have never been higher.

Fueled by cheap money, Las Vegas is in a a prolonged buying boom, marked over the past year or so by rapid sales, owners selling above their asking price, builder putting buyers on waiting lists and fast-rising prices that reach new all-time highs practically every month.

What difference a decade makes
Southern Nevada's housing market looks almost nothing like it did a decade ago when prices hit bottom. Numbers from January of each year.

2012
Median Sales Price - $118,000
Share of Homes sold within 30 days - 36.7%
Listings without offers - 8.001
Number Of Sales - 2,931
Distressed homes' share of all sales - 73.6%
Total dollar value of sales - $419.7m

2022
Median Sales Price - $435,000
Share of Homes sold within 30 days - 71.3%
Listings without offers - 1,821
Number Of Sales - 2,561
Distressed homes' share of all sales - 0.8%
Total dollar value of sales - $1.35B

*Data covers short sales and foreclosed homes of all types, including single-family, condos and townhouses.
Note: Data is for previously owned single-family homes, unless noted.

Source: Las Vegas Realtors

Available Million $ Homes
$1 to $2 Million - 194
$2 to $3 Million - 63
$3 to $5 Million - 52
$5 to $10 Million - 37
$10 over Million - 22

Total available: 368

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We featured Tom Ferry's podcast with Tom Toole are talking about really hot objections and how he handles it every time. Many homeowners today are frightened to move because all they hear is how hard it is to buy a house in their market and they feel like they'll be stranded with nowhere to live if they sell.

Who is Tom Toole? He has been a licensed real estate agent for 21 years and is a lifetime residence of the greater Philadelphia area. He shares sales techniques and business building tactics asa sought after speaker at conferences throughout the United States.

Join as they talk about how to handle objections in today's competitive market and learn some important scripts to overcome those consumer fears!

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We featured Mari Smith's video talking about professional facebook page. She shared new updates and features on the new professional page of Facebook. This professional mode enables users to make money with features that were previously exclusive to Facebook pages. Facebook pages are getting new capabilities that were available only through Facebook Business Suite and third-party apps.

Join us as she shares interesting things on the professional mode updates!

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What's Happening in Las Vegas?

Andre Bocelli in concert for Valentines
World-renowned italian tenor Andre Bocelli will be setting the mood for romance at his concert for Valentine's tour showcasing some of his most romantic music, including songs from his inspiring new album Believe, As well as selection of arias, his beloved cross-over hits and famed songs.

Las Vegas Philharmonic Presets Beethoven No. 4 & 5
This rhythmic and dancelike spirit of Strum, by award-winning composer Jessie Montgomery, is presented in this powerful program featuring Beethoven's ominous 4th symphony and his most famouse orchestral work, Beethoven's 5th Symphony.

We have our guest today, Anetta Replogle from Love Las Vegas Realty. She recently attended Brian Buffini's real estate mastermind that was held weeks ago in Los Angeles.

She also talks about some of the lessons and improvements she's planning to work on her real estate business. Join as she shares interesting things that she learned during the event.

Get in touch with Anetta at 702-672-5646

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We featured a video from Tom Ferry's podcast with Jason Pastana and Rob Hahn.

Who is Rob Hahn? He's a real estate industry blogger and consultant, he is also known as Notorious R.O.B. He's worked with some of the largest firms in the industry and often times his opinions turn controversial because he speaks his mind and says what people need to hear, not what they want to hear.

Join us as they share about their predictions for the future of real estate industry.

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Las Vegas News:
Most mortgage rates in MBA's survey continued to rise, with 30-year fixed rate reaching its highest level since march 2020 at 3.78%. Despite the increase in rates, refinance applications were up 18 percent, driven mainly by a 22 percent jump in conventional applications.

The average purchase loan size hit a new survey high once again at $441,100. Stubbornly low inventory sales level and swift home-price growth continue to push average loan size higher.

Marketing Tips:
1. Knowledge broker - How's the market. News that impact prices, supply chains, builders, companies moving in our out, legislations and everything in between
2. A day in the life - showing behind the scenes of what you do
3. Homes for sale - Previewing and new construction
4. Neighborhood Drive - Tours
5. Something personal you love - or real me
6. Designs and Hoke style insights
7. Something you love this could be documenting you buying fixing and renting or flipping a house.
8. Hyperlocal

Quick facts:
- 1 in 5 home buyers is age 62 or older
- Homeowners 62 and up have over $7 trillion tied up in equity
- With more than 10,000 baby boomers turning 65 everyday. It's growing market you cant afford to ignore

HECM for purchase benefits to your business
1. Sell more homes to your senior clients who are transitioning into retirement
2. Benefit from two potential transactions: a home sale and a purchase.
3. Assist clients wit obtaining financing they originally did not think they could obtain without existing employment
4. Provide more financial solutions for your older clients to help them live a better retirement

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Geofarm Marketing Strategies:
By targeting people within your community in a highly strategic way, you can increase awareness of your business and, ultimately, close a lot more deals.

It is a powerful way to grow and maintain a successful real estate business. It's a proven real estate marketing method you can use to focus your prospecting efforts on a community. When done correctly, farming can help you increase brand awareness, capture leads, gain listings, and earn referrals.

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Las Vegas News:
Pro Bowl brings full week of NFL activities in Las Vegas.
Be sure check out the event timeline. This should be exciting!

Today, we are talking about 2022 Home Sales Forecast.

Realtor.com's 2022 housing forecast expects the winter months to be busier than usual, with momentum carrying into the New Year. We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.

In addition, we see construction companies delivering more new homes next year, helping to alleviate the steep shortage of new supply. However, we also expect mortgage rates to rise, hitting 3.6% by the end of 2022 creating even more affordability challenges for first-time buyers.

Buyers look at today's median-priced home are already paying $165 more on their monthly mortgage than they did a year ago.

-George Ratiu, SR. Economist at Realtor.com

Whether the pandemic delayed plans or created new opportunities to make a move, Americas are poised for a whirlwind year home of buying in 2022... with more sellers expected to ender the market as buyer competition remains fierce, we anticipate strong home sales growth at a more sustainable pace than 2021.

-Danielle Hale, Chief Economist at Realtor.com

The fact that foreclosure starts declined despited hundred of thousand of borrowers exiting the CARES act mortgage forebearance program over the last few months is very encouraging. It suggests that the forebearance equals foreclosure narrative was incorrect.

- Rick Sharga, EVP, RealtyTrac (An ATTOM Company)

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We featured TikTok videos that can give you better ideas and styles for your videos.

TikTok is short-form video platform, so your content will need to be quick and snappy to make an impact. You can use this platform to establish yourself as an expert in your field. Offer tips, advice and experiences. It could even be a way to market your business, gain leads, and close sales if you have the right strategy

Join us as we talk about effective tips to elevate yourself as an agent using TikTok

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Las Vegas News:
Wynn Resorts bought a piece of land on a man made island on the United Arab Emirates called Wynn Resorts and it's scheduled to finish in 2026. The entire project will be developed to the highest standards of sustainability best practices. It will be the third-largest in the UAE after Dubai's JW Marriott Marquis with 1,600 rooms and Atlantis The Palm with around 1,500.

Tourism continues to grow in Las Vegas, 69.4% from 2020.

Access to Market, Labor and Consumers
Greater Vegas is strategically located along interstate 15 and is within a five-hour drive of 9 percent of the nations's population.

It is within a two-hour flight of 25 percent of the nation's population. In fact, the region is less than one day's drive from 60 million consumers and five major United States Ports servicing the Pacific Rim.

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