Real Estate Markets
Do Marijiuana Laws Affect Real Property Values?
Being told by market participants that they were influenced by the changing marijuana law in Nevada caught me off guard. It never occurred to me that a recreational marijuana law in Nevada would affect buyers. I didn't vote for the legalization, its hard for me to believe that allowing marijuana loose in Las Vegas will lead to good things. I guess for visitors it may be great but for those of us who provide a service I just can't see that a few thousand new "stoned" drivers or pedestrians moving around will be a benefit. I was immediately skeptical when told that Colorado homes increased Continue reading →
What Appears Simple May be Complex
Appraisers try to find comparable property sales that are in the immediate vicinity of the property they are trying to appraise. For residential appraisals they try to find a home built by the same builder, in the same year and in the same subdivision. In Henderson, Nevada you can often find the exact same model of home in a tract development. It's as close to being an exact match as possible. If you know what the matched property sold for in the last few months you are generally going to get very close to the market value of the subject. Continue reading →
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