http://elsagonzalez.cbvegas.com/blog/categoryname_mortgage/sort_entrydatetime-desc/  96 sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% } .forceBgColor{background-color: white !important}?The latest Las Vegas Real Estate Report revealed an important shift in the local housing market. After years of rapid growth and pandemic-era activity, the market is now entering a more balanced phase where supply, pricing, and buyer behavior are beginning to normalize. Inventory Is Rising One of the most noticeable changes has been inventory growth, giving buyers more options and creating greater competition among sellers. As inventory expanded, sellers faced increased competition not only from other listings, but also from homebuilders offering incentives and mortgage rate buydowns to attract buyers. Mortgage Rates Influenced Buyer Activity Mortgage rates played a major role in shaping buyer activity throughout the year. Higher borrowing costs slowed transactions during much of the traditional buying season. Toward the end of the year, mortgage spreads improved and rates began trending lower, a shift that could help support future housing activity. Migration Continues Supporting Housing DemandPopulation trends continue to support long-term housing demand in Southern Nevada. Migration remains positive, with California markets continuing to serve as a major source of new residents moving to the region. Key Takeaways from the 2025 Market Median price for existing single-family homes: $470,000 at the end of 2025.Housing inventory expanded roughly 20% year-over-year, giving buyers more options.Mortgage rates improved toward year-end, moving closer to 6% as spreads narrowed.Los Angeles remained the largest source of new residents, representing about 35% of inbound moves.Luxury housing continues to grow, highlighted by a top residential sale of $25.25 million in 2025. A Market Moving Toward Balance Overall, the Las Vegas housing market is transitioning into a more sustainable cycle. Buyers are seeing more opportunities, sellers are adjusting expectations, and long-term fundamentals such as migration and lifestyle appeal continue to support housing demand across the valley. Read the full report to learn more about the trends shaping the Las Vegas housing market and what they could mean moving forward.  READ THE FULL REPORT ?Our Premier Service Companies? ©2026 Coldwell Banker Premier Realty. All rights reserved. Coldwell Banker Premier Realty upholds the principles of the Fair Housing Act and the Equal Opportunity Act. If your home is listed with another REALTOR®, please disregard. It is not our intention to solicit the offerings of other brokers. http://elsagonzalez.cbvegas.com/blog/21457/the-las-vegas-real-estate-report/ Thu, 12 Mar 2026 06:48:09 -0800 ?Rising mortgage rates have made home buying a challenge over the past few years, but there's good news—rates are starting to drop in 2024. According to Freddie Mac (Federal Home Loan Mortgage Corporation), rates recently hit their lowest point this year, offering hope for potential buyers. So, what can you expect moving forward? ?Mortgage Rate Forecasts for 2024 Experts predict that mortgage rates will continue to trend downward as long as inflation and the economy remain stable. While there may be some fluctuations, the general outlook is positive. Rates are already down nearly a full percentage point from their peak in 2023, Realtor.com is forecasting a year-end rate of around 6.3%.   ?How Lower Rates Impact Your Buying Power  Declining mortgage rates can increase your purchasing power, making homes more affordable. If you’ve been waiting for a more favorable rate to buy a home, now is the time to determine your target rate. Whether it’s 6.25%, 6.0%, or even lower, knowing your ideal rate can help guide your decision-making. My trusted lender, Evergreen Home Loans, is ready to help you achieve your target rate. They offer strategic financial planning and will assist you in getting pre-approved so you can lock in the best rate possible. ?2025 Mortgage Rate Outlook  Looking ahead, Fannie Mae (Federal National Mortgage Association), Mortgage Bankers Association, National Association of Realtors, and Wells Fargo predict a gradual decline in rates through 2025, driven by easing inflation and economic shifts. Morgan Stanley also expects the Federal Reserve to lower interest rates, which could further reduce mortgage rates ?With mortgage rates on the decline and further decreases forecasted, now might be the perfect time to begin your home-buying journey. If you're ready to explore your options and find the ideal rate for your needs, don’t hesitate to reach out. As your dedicated real estate expert, I’m here to guide you every step of the way and work closely with Evergreen Home Loans to ensure you get the best rate possible. By acting when rates align with your goals, you'll be well-positioned to secure a great deal.? http://elsagonzalez.cbvegas.com/blog/21312/mortgage-rates-forecast:-here’s-what-to-expect/ Fri, 13 Sep 2024 04:13:58 -0800 What is PMI?Private Mortgage Insurance (PMI) is a type of insurance that conventional mortgage lenders require from borrowers who make a down payment of less than 20% on their home. This insurance protects the lender in case the borrower defaults on the loan. PMI is typically added to your monthly mortgage payment and can range from 0.58% to 1.86% of the original loan amount annually. For instance, using NerdWallet’s PMI calculator, if you have a $400,000 mortgage with 10% down you could be paying around $450 in PMI a month depending on your PMI rate. How do you cancel that extra amount?How to Cancel PMI EarlyAlthough PMI is automatically canceled when your loan balance reaches 78% LTV (loan-to-value). For most conventional loans you can take proactive steps to have it removed sooner (please note that there are different stipulations to cancel PMI on government-backed mortgages like FHA loans):Make Extra PaymentsPaying more than your monthly minimum can reduce your principal balance faster, helping you reach the 80% LTV threshold more quickly.Timely PaymentsConsistently making mortgage payments on time is crucial. Lenders usually require no late payments in the last 12 months and no 60-day late payments in the last 24 months to consider PMI cancellation.Make Significant Home ImprovementsAdding value to your home with significant renovations like kitchen and bathroom remodels, room additions, or outdoor renovations like putting in a pool or patio, can help reach the LTV threshold sooner.Refinance Your Mortgage Refinancing your mortgage at a lower interest rate or to shorten the loan term can help you eliminate PMI faster. Additionally, you might use a home equity line of credit as a 2nd mortgage (80/10/10) to avoid paying PMI on the first lien.Evergreen Home Loans Can HelpEvergreen Home Loans offers a range of services to help you cancel your PMI. They provide financial planning guidance, refinancing options, and assistance with home value assessments. Their dedicated team ensures you have the support needed to navigate the PMI cancellation process smoothly.PMI can add significant costs to your monthly mortgage payments, but with strategic financial planning and support from Evergreen Home Loans, you can reduce or eliminate these payments sooner than expected. By making extra payments, maintaining a stellar payment history, improving your home, and considering refinancing, you can potentially cancel your PMI earlier, saving money in the long run. Take control of your mortgage with the help of Evergreen Home Loans and explore these options to achieve financial freedom from PMI.   http://elsagonzalez.cbvegas.com/blog/21309/understanding-and-cancelling-pmi-private-mortgage-insurance/ Fri, 19 Jul 2024 03:08:41 -0800