Desert Dreams and Haunted Market Mysteries

Can you resist the allure of a haunted real estate market, even as the shadows of economic uncertainty loom large? Join us in this Halloween-themed edition of Vegas Realty as we unravel the eerie realities of the Las Vegas housing scene. With over 5,500 single-family homes haunting the market and buyers spooked by political and economic ghosts, our discussion sheds light on the potential positive twists emerging from the darkness. We also explore the chilling challenges and surprising opportunities in short sales, revealing the mysterious dance between hopeful buyers and calculating banks. Learn how a bona fide offer and a short sale addendum can protect you from the ghastly surprises lurking in the fine print of real estate deals.

Our journey doesn’t end in Vegas; we venture into the desert landscape of Pahrump, Nevada, where water rights are as valuable as gold. From well installation quirks to the soaring costs of securing these rights, we guide you through the mirage of land ownership in this growing community. Discover the complexities of navigating Pahrump's burgeoning development, drawing eerie parallels to Las Vegas's past expansion. Whether you're planning an off-grid escape or a strategic land investment, this episode promises to enrich your understanding of regional growth and the critical role of water rights in desert real estate.

Transcript

Speaker 1 0:16

Hey Las Vegas, happy Halloween and welcome back to Vegas Realty. Check local Las Vegas real estate news, your spooky edition. I'm Trish.

Speaker 2 0:24

Williams and I'm Tiana Carroll. Welcome back, you guys.

Speaker 1 0:28

Yeah, so we don't have a lot of spooky stuff going on other than the market, the scary market, the scary market, the market is getting scary out there.

Speaker 2 0:37

I don't know, this weather's pretty scary. I don't know why I'm always shocked, but it is always chilly at Halloween.

Speaker 1 0:42

Yeah, it's always chilly. I don't mind the chilly, but the wind.

Speaker 2 0:46

Yeah Well, even like when we did the trunk or treat, it was a windy night but it was comfortable and warm out. Today is just like 55 during the day and 45 at night, oh ow.

Speaker 1 0:58

Yeah, I have no trick or treating plans so I'm not worried about it. Yeah, I will be inside the house warm and cozy. Doling out candy. I mean Vegas neighborhoods I don't know if it's just my neighborhood, but I think Vegas neighborhoods in general don't get a lot of kids.

Speaker 2 1:14

I think that varies neighborhood by neighborhood, though, because we have some neighborhoods that are crazy busy and lots and lots and lots Like my neighborhood's crazy. Every house is decorated and the families are just all excited and there's going to be tons of kids that come out tonight and they start early, like at four, 35 o'clock.

Speaker 1 1:33

Yeah, we get. I've averaged like on 20 kids, if we're lucky. So I just buy like the 30 pack of full size candy bars and everyone just gets a. Gets a full candy bar. Nice, nice, why not? There's not a lot of them?

Speaker 2 1:47

Right, right, no, ours. We go through bags and bags and bags at my house. Wow, wow.

Speaker 1 1:53

Okay. So yeah, definitely neighborhood specific. I mean, we also have a gate, so I'm sure it's a deterrent.

Speaker 2 1:59

Well, yeah, and in your pretty small community? Yeah, we're a very small community.

Speaker 1 2:05

So yeah, so yeah, have fun out there and be safe when you're out trick-or-treating or doing whatever you're doing tonight. But for now, let's talk about what's happening here in real estate, real estate, vegas, vegas and all the real estate numbers.

Speaker 2 2:20

Well, like every show, we're going to talk about our single families that are on the market, and there are 5,534 of them this week.

Speaker 1 2:28

Yeah, not a lot of movement in that number. I really feel like we're at a point where not many people are really listing and not many people are really buying right now either. Yeah, we're kind of stagnant, just kind of sticking still.

Speaker 2 2:41

Yeah, we're kind of frozen in time right now, sticking still. Yeah, yeah, we're kind of frozen in time right now and I think a lot of the country is just because of the political environment and the economy and everything that's happening right now.

Speaker 1 2:51

So, yeah, for sure. And um, we have um a few under contract. I have been seeing an uptick in showings. Um, in showings I've been seeing a little bit more activity, like people are starting to get prepared to move forward, but just uh, yeah.

Speaker 2 3:07

Well, like I was saying, a few weeks ago I didn't have any active buyers. Now I'm sitting on five prequels that are. You know people are ready to go out and buy? They're not. They're not moving quickly, they are not motivated, they don't love you know their options or their payments or their interest rate or anything, but they are capable of doing it when they're. So it's just now that the magic happens at the right person with the right property and making that happen.

Speaker 1 3:35

I have some of those people that are just like I'm not like super into it, but if the right thing comes up, then maybe yeah, yeah, so yeah, yeah. That's the environment and that's showing in our under contracts and sold so it is our under contracts.

Speaker 2 3:49

look pretty good, though I'm not mad at 508.

Speaker 1 3:51

No no, that's, I mean that would still. If that was a week by week number, that would average 2000 closings a month, which really is not a lot.

Speaker 2 4:00

Yeah, but under contract is in a week by week. Unfortunately, it's that 30-day escrow or 20-day cycle. Yeah.

Speaker 1 4:07

And then sold. So actual solds for the week are $390. $390. So that would average out to about $1,600 a month, which is low, roundabout, which is very low.

Speaker 2 4:20

Very, very low for us.

Speaker 1 4:21

You know, I was talking to somebody and, um, again, I wasn't in real estate. I think I've mentioned this before to uh on the show or two people, but I wasn't in real estate during the crash, you know, 2008,. I got in real estate in 2014. So, um, I was talking to some people that said, like in the, the height of the crash, you know, like the, the worst moment of the crash, they had a thousand closed sales in that month and that was like the worst.

Speaker 2 4:46

And I'm like, oh, we're not too far off from that right now. Yeah, but if we're going back, okay, I'm going to be optimistic. I love rainbows and butterflies, right. So if we're going back, you know we only had sold last week 568. So we did uptick to five, or I mean 368. Now we've upticked to 390. Yeah, so we are getting a little more closed sales and what I really like is our price decreases have um, sunk almost uh, or 101 have gone down. You know we had 500 or we have what.

Speaker 2 5:20

Four hundred fifty seven four fifty seven this week and last week was, uh, five, 36. Okay, okay, yeah, no, that's not true.

Speaker 1 5:30

So again, I don't think I mean if this is our version- $578.

Speaker 2 5:34

Sorry, I had to look it up. That's okay, $578. So we're down to $457. So those price decreases have leveled out, which is nice.

Speaker 1 5:42

Yeah, and, of course, if this is our version of a crash, I really do think what's going on right now is temporary and we're going to pick up as soon as the selection cycles over. I feel very confident in that and again seeing a slight uptick in showings as indicators that that's exactly how it's going to play out All the indicating factors.

Speaker 2 6:01

Are there a little more closings, a little less price decreases. We're having some showings happening, so it's like everybody's like scurrying, putting themselves into a position, scurrying like little Halloween mice.

Speaker 1 6:13

Yeah Well, and when we get to price decreases I mean one of the things and I've talked to a couple of people that are kind of on the same mindset of this I'm advising people right now, don't touch the price. Usually, when a property is not moving, we say you got to adjust the price. I'm telling people don't do any adjustments until after elections, just because I don't think it's going to have impact right now. Got to wait it out.

Speaker 2 6:36

Yeah, I don't think it's impactful right now. And I think that all of those price decreases that we are seeing for like those three or four weeks that they were dropping, dropping, dropping prices, that everybody was in the mindset of old markets that we've had and old conditions that we were working in, thinking, okay, if we drop the price, then we're going to get showings and then we're going to sell and that's going to be that. But when they saw that dropping the price wasn't actually enticing people to be out shopping or buying or anything, then now it's just maintaining market value. Let's leave the price where it is. Let's see what happens after the election. We'll pivot there after that, if we have to. Yes, of course.

Speaker 1 7:14

And yesterday I did a just a what if search. I guess just a random what if search, cause I was like huh, I wonder how many homes there are under 200,000 right now. Usually that's a zero, right, that's a big fat zero, but-.

Speaker 2 7:31

Okay, so are you saying single family homes or townhomes? No, no, yeah, it has to be townhomes and condos.

Speaker 1 7:35

We're mostly condos, townhomes and manufactured homes. Okay, but there was over 30. So I mean even that. I mean because we've been in a spot in the recent years where even manufactured homes are 250 and above. So seeing those under 200, it's just we don't typically see a lot of those on the market. So I think over 30 is considered a lot, so we're seeing a little bit more. That's so funny. Over 30 is considered a lot, so we're, you know things are.

Speaker 2 8:05

We're seeing a little bit more. That's so funny. Over 30 is considered a lot.

Speaker 1 8:08

Well, for us it is yes.

Speaker 2 8:10

For us it is. It is a lot for us, but that's like people going. Our foreclosures have doubled since last year. And you're like, yeah, we went from two to five, so you're right.

Speaker 1 8:28

It did double but still not a lot. Yeah, still not a lot, not a lot. In like a regular environment I was. I have somebody out in that's buying out in Little Rock, arkansas, and the agent I'm talking to out there she's like yeah, the average move in first time home buyer or first time home is 150,000. I'm like right.

Speaker 2 8:41

If we had a time machine could buy Vegas at $150,000, how nice would that be.

Speaker 1 8:46

Yeah definitely not the case these days.

Speaker 2 8:50

Nope, not the case these days and I think that's a good way to go into our first question from Laura oh our first question from Laura, which this is going to be a great question for you, because this sort of question and topic seemed to put you on the I don't want to say the social media map, but sort of the social media fame. You had a whole video. Come on, you have a whole video on this go viral.

Speaker 1 9:14

I did have a whole video on this go viral on the topic of short sales.

Speaker 2 9:19

Laura says I got a short sale offer accepted but now I have to get it approved by the bank. Can that price change?

Speaker 1 9:29

Yes, so, yes, laura. So just a little background. When I first got into real estate 2014, there were a lot of short sales on the market. Yeah, that was the conditions. Yeah, so I kind of learned real estate in the short sale world. Yeah, and regular real estate became so easy once you went to it. Well, that's exactly it, yeah.

Speaker 2 9:52

Yeah, because people are coming to the market now and just getting their license when real estate goes back to another cycle. That is much easier and moving faster. They're going to feel like it's a holiday. Congratulations, Real estate's easy again.

Speaker 1 10:10

Yeah, so talk about spooky season, let's talk about a short sale.

Speaker 2 10:14

Let's talk about a short sale, because that is spooky real estate.

Speaker 1 10:17

That is spooky real estate so what happens in a short sale Just to generalize it, I guess is the seller of the home owes more to the bank than they're able to sell the home for, right.

Speaker 1 10:33

Okay, so they list it at a price, usually a price that is hopeful, but that doesn't necessarily mean that that price is going to be approved or that the short sale is going to be approved. Facts the owner of the home then has to, and they can't do all of this. You could start your package, you can start your information with the bank, but nothing starts moving forward until you have a bona fide offer from a buyer that is willing to purchase the home at the price you have it listed for. Very similar to probate, yes. But keep in mind that doesn't mean that that's going to be the final price, absolutely yeah. So the bank then not only has to approve the price terms and everything of the offer, they have to prove the hardship of the owner of the property, because if they say this owner has no hardship or no reason for the short sale, they're not going to approve the short sale at all.

Speaker 2 11:35

Right, they'll be like kick rocks lady.

Speaker 1 11:38

Kick rocks. Yeah, you don't qualify for this. So then what happens to the buyer? Let's go back to you, laura. Laura, you're in contract on a short sale. You put down your earnest money deposit, just like you do on any home that you're moving forward to purchase. There's usually well, there should be. Please make sure there is. If there's not, there's a problem. If there's not, there's a problem, there should be. Back in those days I'd received offers that did not have that. I them there should be. Back in those days I'd received offers that did not have that. I was like whoa, we're missing something. You need a short sale addendum. You absolutely need a short sale addendum. The short sale addendum kind of well, it actually does protect you on your terms the contingency of the short sale and everything there is laid out.

Speaker 1 12:20

This short sale. You could, just for scenarios, say that this home may be estimated full market value at $550,000 and you have an accepted offer at $500,000. Can you guarantee that home is going to close at $500,000? Nope, no, because the bank is going to do something, what's called a. They send out and do a BPO broker's price opinion and through that BPO, they send out. It's usually a real estate agent, but a real estate agent that has certain certifications, qualifications or whatever to do these. And they do. They send the bank, you know, comps, they go look at the property, they give their own analysis of it and that's where the bank determines if this home is undervalued, if it is valued right, if it's valued right for its condition. Because they do take, you know, sometimes short sales are distressed homes and their condition is not that great. So they do take factors into consideration.

Speaker 2 13:16

Desperate people do desperate things, unfortunately.

Speaker 1 13:18

Yes, as well as the application of the seller. You know, for the short sale, for the hardship, for what's going on, and just see if everything works right. They may come back at you on this $500,000 offer and say we're willing to sell this to you at 520,000. Right, but full market value in perfect condition would be 550. So still a bargain. But then you are you obligated to move forward at that price?

Speaker 2 13:49

Well, not obligated, you're obligated to move forward at the price that the bank will accept period.

Speaker 1 13:54

Well, yes, but not obligated, because that's where that short sell addendum protects you and you can back out.

Speaker 2 13:59

You're saying, if they come back and say it's now 520. Yeah, no, you can say no, I'm good.

Speaker 1 14:04

Yeah, no, I'm good Cause I agreed to purchase at 500,000 and that's where that short sale agenda protected me in that purchase and I have all you know there you can get your earnest money, deposit back and just move on, or again you can choose to yes, I'm going to, once that portion's done in the bank and you and of course the seller always agrees yeah, the seller's trying to, usually in a stress situation.

Speaker 2 14:31

They just want to make something happen.

Speaker 1 14:33

Yeah, so once the bank has issued that approval, that means they have approved the seller and the price and everything about it, all of the terms, and then you can move forward to closing. A couple things to keep in mind. This process isn't quick.

Speaker 2 14:52

No, it's not A lot of stuff in Vegas. Real estate moves fast, but this is not one of them.

Speaker 1 14:57

Yeah, I mean, I've seen very, and I would say, unusual circumstances where they're like 45 days, very unusual. Most of the short sales that I did, you know, again back in 2014, cause that's when it was very common.

Speaker 2 15:12

It was, most sales were short sales.

Speaker 1 15:14

Back then it felt like yeah, around that era that the most of them would take like three to six months on average, and I had a listing, a short sale listing, during that period that was two years long, multiple, multiple buyers that we had. The bank would reject, the bank would, you know, just come back with a different number, reject the offer altogether. But we just kept on trying and trying and trying again and finally, and the final offer which was just absurd, but whatever it is, what is the final offer that they did end up moving forward with was actually lower than some of the offers that they had rejected previously.

Speaker 2 15:52

So it's because of time, right, they finally just got sick of it. Two years they're like okay, we're done, just get rid of this property.

Speaker 1 15:59

They figured out we weren't going away.

Speaker 2 16:01

Right. Well, the whole thing is that the short sale sort of takes, since you are a distressed owner. It sort of takes the authority away from the seller on what they're going to sell the property for, and it then goes in the court. The ball is in the court for the bank and they're the ones who are going to decide what kind of loss they're going to take on that property.

Speaker 1 16:23

Yes, and one other good note to make before we move on. I know it took forever on this question, Sorry.

Speaker 2 16:28

No, it's a good one.

Speaker 1 16:29

My passionate topic she's like I got this, yeah. But another good thing to keep in mind too a lot of times when people are in a short sale, they've already been, the foreclosure process has already been initiated, right Right. But during the short sale, once you, once you are in contract with the buyer, if it's just on the market, nothing's halted. Everything's still moving forward. The foreclosure, profit process, the notice of default, the time limit, all of that stuff is moving forward. But once you are in contract with the buyer, with an offer the bank is negotiating, you're in in the middle of it. They do pause. So, um, it does give you more time to work it out.

Speaker 1 17:10

But if they reject that offer, that offer fails, that offer backs out that offer, whatever that moves right forward.

Speaker 2 17:16

Then you're back and forwarding that foreclosure.

Speaker 1 17:20

Yeah, so that is definitely. Time is of the essence, even though it does take a lot of time.

Speaker 2 17:25

Yep, but as for the actual question, can that price change? Yes, yes, it is at the discretion of the bank. They will then decide if that property is going to sell for that amount of money. If they're accepting the offer for the loss that they'll be taking.

Speaker 1 17:39

Yeah, and one thing that I think very experienced agents do is they price a short sale at a reasonable price, like considering market value, considering condition, considering that it is a distressed property, because a short sale, no matter which way you look at it, is distressed and it takes more time and obstacles than a regular property, so it's distressed just in that aspect. But most agents that have a lot of experience are going to go in and price that reasonably to where the bank is going to consider it. I have, however, seen some people that price short sales at a price where you're like no way in hell, that's never going to work out.

Speaker 2 18:18

Right, $550,000 for $300,000. You're like, oh, I got nine people calling me on this property. How do I tell them all it's a fakey.

Speaker 1 18:27

Yeah, that would be awesome. I wonder if they do that for lead purposes. I don't know what they're thinking.

Speaker 2 18:34

See, I didn't even think of that. I don't think that's why they do it. I think that they just might not have a clear understanding of how a short sale works.

Speaker 1 18:42

Yeah, or again, I'm sure the incoming calls on a property priced like that is insane.

Speaker 2 18:49

Yeah, I've seen it happen a couple of times and the phones light up like Christmas trees. They're like, oh my gosh, there's this house and it's 300,000 and I want it. Yeah, you and everybody else. But the bank's going to say sorry, kiddos, I don't think so.

Speaker 1 19:02

Have you gotten those calls? That just brings me into something off topic.

Speaker 2 19:05

Okay, let's go. What do you got? What do you got? Have you?

Speaker 1 19:07

ever seen. So the way our MLS works is as soon as you like, type in information and press enter, boom it posts right.

Speaker 2 19:13

And then it posts everywhere.

Speaker 1 19:14

It goes Zillow, if you have syndication, yeah To everywhere on the planet. It's syndicated everywhere, right, and there's times that people forget a zero.

Speaker 2 19:26

Yes, yes, I can't even tell you how many times when I'm looking at the hot sheet in the morning at house, I'll be like oh yeah, that's wrong and I'll text the agent. I'll be like I'd like to buy this house today, but you might want to adjust your price because it's wrong.

Speaker 1 19:40

And I think it's so funny is because whenever that happens, and almost every time that happens, I know about it because I'll have some buyers or some people that aren't even in the market buying or whatever, just come out the woodworks and call me and be like hey, Trish, this house is 36,000. And I'm kind of thinking that it might work for us.

Speaker 2 19:59

I'm like sure you are. I'm kind of thinking I love that. I'll be like I'll take two of them. I'll buy the whole neighborhood if I can.

Speaker 1 20:09

Might work for you and a lot of other people, but it's not. They forgot a zero and sometimes two zeros. Yeah yeah, yeah yeah.

Speaker 2 20:14

So, and it happens, which is hysterical when it happens, I have texts, several agents been like um, I want this house, yeah. But once you realize you've priced it wrong, you might want to just adjust it and they're like oh my gosh, thank you so much, yeah, yeah.

Speaker 1 20:29

I just tell people you know most of the time where I see it, I'm like I'll check on it, but I'm pretty certain they just they just forgot a zero. And then you log into the MLS and they've already fixed it, cause they probably got in a thousand calls within the five seconds that it was wrong and it's back to whatever the normal price is with the right amount of Then all of a sudden it has a price increase.

Speaker 2 20:50

Yeah, you're like, gee, I wonder why that happened. But that sort of leads back to the question on. There are always so many buyers, investors, people lurking in the background that you don't even know are in the radar, because people you haven't talked to in six months, eight months, a year. All of a sudden they're like, hey, I saw this house and I'm like, oh yeah, no, this house is wrong, you're not going to get that house.

Speaker 1 21:16

You're not in the market to buy, but right now I think I'm going to do it Like 36,000. Give me one, sign me up.

Speaker 2 21:22

Sign me up. I'll take two. Thank you, yeah.

Speaker 1 21:26

That's funny. Talk about one question taking our whole show. Huh, Well, that's okay.

Pahrump Water Rights and Growth

Speaker 2 21:30

Well, last week we only did two questions. It might be we only do two questions this week. That's fine, that's fine. Our second question that we're going to get to is from Betty, and she has land in Pahrump but she doesn't have a well. They said that she has to buy water rights before a well can be installed. Is that right?

Speaker 1 21:51

Absolutely 100% correct Betty, that is, pahrump has issues with their water and with the water rights and you have to own rights to water on the property before a well can be installed. There are some places in Pahrump I believe Strickland Drilling is one of them, if they're still doing it that will sell water rights along with the well, but places like Great Basin out there that you have to buy the water rights from a third party dealer. There's a couple third party like dealers of water rights out there. I would like when this first like became a thing you know I'm I remember calling like the you know Pahrump utilities and I'm like can you sell me water rights? And they're like no, and I'm like how is that? I need to buy water. Where can I get my water?

Speaker 1 22:39

Yeah, like how is that that the utilities aren't selling it. It's not like the government selling it, it's certain people that I guess own so much land and they have these like extra rights that they can assign to others or sell to others and things like that. So as they become less available, the prices are increasing on those Definitely something. If you're looking to buy land in Pahrump and you want to develop that land one day. I mean this is an issue you need to consider, review and make sure that it makes sense to you.

Speaker 2 23:13

Right, and sometimes properties out there do convey with the water rights.

Speaker 1 23:16

Some of them do. Yeah, some of them have already purchased, and then it conveys with the water rights.

Speaker 2 23:21

So when you are purchasing out there, that's something that you have to take into account.

Speaker 1 23:24

Yeah, it's a part of the purchase agreement too. So, yeah, there's um, and just to give like a generalized idea of within the last year, cause I had somebody purchased water rights within the last year. They bought two acre feet of water rights for um $15,000. So that was separate from the price that they paid for the property, which prompt lands still pretty cheap.

Speaker 2 23:48

Prompt lands still pretty cheap and it's in Nye County, so you do have water rights, because here in Clark County you can't drill a well.

Speaker 1 23:57

Yeah, and so that was just the rights. That didn't include the well. Also, another thing to keep in mind in Pahrump area is in most of Pahrump if it's under a half acre it will be connected to public water in a lot of areas in Pahrump.

Speaker 2 24:13

Yep, yep, yep, yep. And the water people you can get it from. You can buy your water rights from the private land owners. The water right brokers are what the words you were looking for for the people who do it, the water right brokers, and they have their license and they specialize in that some development companies and then the Nevada division of water resources who oversees it. You can't actually buy the water from the Nevada division of water resource, but they're the ones who sort of are the governing body and oversee what happens out there.

Speaker 1 24:44

Yeah, cause I was about to say I did. I remember contacting like like the government agency, because I was like if you, you know, I was helping someone that was purchasing land find a resource for rights. And I was like, well, you know, you'd think you'd want to go through like the state or the government or whatever you know, to make sure it's like legit. And yeah, they were like, no, we don't sell it, you have to go to a broker.

Speaker 2 25:03

Yeah, they don't sell it. They will make sure that the transfer of the sale the water rights is approved to ensure that it's legal and valid, but they're not the actual ones.

Speaker 1 25:12

You go and buy the water rights from Right and if you have a piece of land in Pahrump that has a well already on it, then you're good, you're grandfathered in, you don't have to worry about that issue. It's already. The rights are already there because the well's already on the property.

Speaker 2 25:31

Yeah, and that's kind of the way you have to do it in Vegas too the properties, since we can't go in and get water rights and drill wells. If you buy a property say you're out at Wagon Wheel or Centennial or someplace that's still zoned county you'll find properties, especially like the older horse properties from the 70s and stuff. They'll have wells in place and sometimes it's a single well for one property or it's a shared well and then there's a well account and you have to pay X amount for each house into that account to pay for the electricity and have a reserve in case something goes wrong with the well.

Speaker 1 26:05

Yeah, yeah, absolutely so. Um, yeah, but definitely, um, look into that If you're looking to purchase uh, water rights is a question you want to know an answer to and, um, I would, I would advise, before purchasing the land, to check into the cost of the water rights. What all the you know all the information on that, because that should affect the um, your consideration of purchasing it.

Speaker 2 26:31

Yeah, definitely, but um, I do love the idea of having a well in water rights.

Speaker 1 26:37

Oh no, I think it's wonderful, I think it's cool.

Speaker 2 26:39

Yeah, I think it's wonderful, it's a doomsday prepper in my mind going okay, I need an off-grid property that has a well and solar and just in case of an emergency.

Speaker 1 26:49

Yeah Well, that is in Pahrump. There's plenty of options for that and it's a growing city, gosh. Every time I go out there I'm like it's bigger again.

Speaker 2 26:58

Yeah Well, it reminds me of how Vegas in the late 80s and early 90s was. Do you remember driving around? There'd be like these big parcels of desert, and then there might be, like you know, a little couple subdivisions, but like no grocery stores or gas stations have really gone in. And then, all of a sudden, the bill they just started building up around everything. And so when I go out to prompt, compared to where it was, say, 12 years ago versus where it is now, the amount of growth is like wow, do you remember Trump?

Speaker 1 27:33

We're not talking politics here.

Speaker 2 27:34

No, we'll save that for a different day.

Speaker 1 27:36

I remember Pahrump 12 years ago, I mean it was so. It was like there used to be, like when you went out to Pahrump, when someone would say, like, go out to Pahrump, it's like a couple of trailers in the middle of nothing. You know, it's like what.

Speaker 2 27:50

Right, it didn't feel like it was a city or a town.

Speaker 1 27:52

Yeah, I mean maybe not 12 years ago, maybe 20 years ago. I've been here my whole life.

Speaker 2 27:57

But when?

Speaker 1 27:58

we were young.

Speaker 2 27:58

When we were young. Yes, not that we're old.

Speaker 1 28:01

It's like someone said they lived in Pahrump and you're like why?

Speaker 2 28:08

Well, because it really just was a teeny, tiny little desert town. Now it feels like a desert city, if you will. I mean it does have, you know, modern amenities in big box stores and restaurants and stuff. So it's, you know, it's growing. Let's put it that way, it's growing Yay.

Speaker 1 28:29

Pahrump, yay, pahrump. I remember when my husband and I were like first dating so it was quite a while ago but we, you know he had a friend who lived in Pahrump and we were going to like a, you know, like a pre Thanksgiving dinner or something there and they, they had sent us like a gate code and I'm like, who lives in a gated community in Perth? I was like what in the world is happening?

Speaker 2 28:54

Girl. They even got a golf course out there and a racetrack and a winery.

Speaker 1 28:59

Yeah, well, that was the beginning portion of Mountain Falls.

Speaker 2 29:02

Okay, okay.

Speaker 1 29:03

They were like in the first phase of Mountain Falls, but it was just so, yeah, but it was just so, um, yeah, it was just so like bizarre. I was like how, what's?

Speaker 2 29:12

going on here, yeah, yeah. Well, what's going to be crazy is think about it in another 15 years, when they've built all the way out to blue diamond tour. It's almost touching um spring mountain, and then perump is coming towards Spring Mountain. It might just be like how we go from Vegas right into Henderson seamlessly. We might just be going into Vegas, into Spring Mountain, into Pahrump, and the valley is going to have to just grow that way.

Speaker 1 29:43

Well, they're literally paving the way for it right now, because they fixed the road They've widened the road, you actually get cell phone service the whole for it right now, because they fixed the road, they widened the road, you actually get cell phone service the whole drive out there now, indeed you used to lose it because there's a jump, the hump over to Pahrump, because you have to go through the mountain and you always lost connection.

Speaker 2 30:04

You'd be talking, talking, talking gone.

Speaker 1 30:06

Yeah, so now it's like cell phone service is seamless through the whole ride.

Speaker 2 30:10

The roads are wider, and well-maintained. They've added big box stores, so it's definitely a place that is going to see some growth in the future. So there's opportunities for investors to make money out there for people who work remotely and want to be within within a 45 minute um jump to the strip. Uh, they might be putting that spaceport, which is still in Clark, but on the County line.

Speaker 1 30:38

Right.

Speaker 2 30:38

So that could add, you know, some tourists and industry and stuff out there. There's other plans going out in Pahrump that people are excited about and the growth. So just think about where it's going to be in another 12, 15 years.

Speaker 1 30:52

Yeah, wow.

Speaker 2 30:54

It is happening, it is all happening Growth and change.

Speaker 1 30:58

So if somebody wants to talk to you about growth, change, purchasing water, whatever.

Speaker 2 31:05

I'm so easy to get a hold of. Just, I have this phone with me. It goes everywhere I go. You can call or text me 702-379-9948. I know you have your phone with you always as well. They can call or text you.

Speaker 1 31:19

Yes, 702-308-2878. And if you guys are watching our show, please like share, subscribe. Check out our link tree at realtycheckvegas and we'll see you next week.

Speaker 2 31:33

Have a great Halloween, everybody, be safe. We'll see you next week, vegas. Bye, bye.