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Viva Las Vegas <3
19 Plays3 months ago
🎧 Welcome to Thoughts For Rent — the podcast where real estate gets real (and local)!
Hosted by Jenni McKenna, a Las Vegas born and raised seasoned broker, and Owner of McKenna Property Management, this show is your inside look at what’s really happening in the Vegas property management and real estate world. With over 20 years of experience herself - Jenni brings not just knowledge, but heart to the conversation.
Whether we’re talking market trends, property tips, community happenings, or just the everyday quirks of Vegas living, this podcast is all about keeping you in the know.
💬 Real talk. Local stories. Professional insight – provided from a company who has their boots on the ground and hearts in the community.
In this episode, we’re covering why we love Las Vegas and Nevada in general. If you can survive the heat then we tell you why this place is amazing for you!
McKenna Property Management, proudly managing Las Vegas homes since 2005 (and loving every minute of it).
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Transcript
Introduction to 'Thoughts for Rent'
00:00:20
Irelynn Zurflueh
Hello out there. I'm Max Zerfloo and this is Thoughts for Rent. Realtors keeping it real. Welcome back. I'm here with Jenny McKenna. That is correct. I am Jenny McKenna. How are you today?
Migration Trends and Living Conditions
00:00:32
Irelynn Zurflueh
i'm wonderful max sir flu you know what this is thoughts for rent it's a podcast about anything and everything from nevada to basketball to social media to real estate because we are realtors keeping it real let's get into it today we want to talk a little bit about what jenny
00:00:53
Irelynn Zurflueh
Well, I got this interesting email this week that was talking about people that are moving into Nevada and where people are moving out of Nevada and where they're going.
00:01:05
Irelynn Zurflueh
And I had a lot of my clients in the property management world ah say to me during the L.A. fires that were a few months ago, Well, I imagine everyone in California is going to want to move to Nevada.
00:01:18
Irelynn Zurflueh
And so when I saw this come across my email, thought, I kind of want to share this because I found it interesting ah to me. So maybe other people would find it interesting. Everyone seems a little optimistic.
00:01:28
Irelynn Zurflueh
That would be like, there's like 20 some million people in California. um They couldn't all move here. and no And you have to remember, as I've told many of my clients, we don't have a beautiful ocean. Nevada's got a lot of great things, but we do not have ah an ocean that you get to go out and watch the
Lifestyle Comparisons: Nevada vs Other States
00:01:48
Irelynn Zurflueh
sunsets. And it is, i mean, everybody who's been to California's coast, yeah it's gorgeous. That's why so many people live there.
00:01:54
Irelynn Zurflueh
Only thing prettier than the California coast is the Oregon coast. Well, I'll give you that. give you that. I'm born and raised in Oregon, as you know, and the Oregon coast is awesome. So on this particular email, it was interesting because it shows out of all of California, 42,000 and change have come from California into Nevada.
00:02:14
Irelynn Zurflueh
What about going from Nevada to California? You think people move there? Interesting, because you would think that that would be a tougher move coming from California to Nevada with, you know, our lower property tax, the entry level of housing, all of that kind of stuff is much easier in Nevada than it is California.
00:02:32
Irelynn Zurflueh
However, 21,633 went from Nevada to California.
00:02:36
Irelynn Zurflueh
went from nevada ah california Maybe that's the ocean. Maybe that's the green trees. Maybe that's some of the scenery. It could be. And just some of the vibe out there. Because we do live in a desert. I don't know if you heard that or not. We do. This is a desert.
00:02:50
Irelynn Zurflueh
This can pretty hot in the summer. But we're also void of those some of those disasters in other parts
Climate and Lifestyle in Nevada
00:02:55
Irelynn Zurflueh
of the country. See? Yeah. As a matter of of fact, just this week, Tennessee was hit with massive amounts of flooding.
00:03:03
Irelynn Zurflueh
ah couple weeks ago, Alabama had tornadoes. That went through their state. um I've lived here for 54 years. I've never had a tornado. Does that mean that's how old you are?
00:03:16
Irelynn Zurflueh
That is how old I am. Well, I mean, totally. I heard a stat yesterday that there are like, as a rule, like 856 wildfires in California every year.
00:03:28
Irelynn Zurflueh
Wow. I didn't know it was that high. The wind blows and it happens. And, you know, the wind blows here too. We can get up to... 40, 50 miles an hour. But it's not as bad as California sometimes. So anyways, I just think that that's one of the positives here in Nevada.
00:03:42
Irelynn Zurflueh
I've been living here for 32 years now. Not 54 like you. And ever since I got here, people are going, on everybody's moving to Nevada. And I always thought it would end or something. or There would be a time when it would go, okay, no one's moving here anymore.
00:03:56
Irelynn Zurflueh
But they just keep on coming. And we keep on growing. Let me ask you, since you're not born and raised here in Las Vegas like I am. Show off. What keeps you here?
00:04:08
Irelynn Zurflueh
Why is Nevada something that keeps you here? Well, couple of things. Okay. You're here. Well, my wife, besides that, well, the industry we're involved in is a wonderful thing to be here in Nevada. A lot of opportunities. So that keeps us here. Our children, two of our children live here now. And that's obviously a reason to stay here. Although we've had this discussion a lot in our marriage.
00:04:29
Irelynn Zurflueh
Maybe we move back to Oregon, but there's something in Oregon that you don't want to experience. Rain. Rain and no sunshine. Well, but okay, so let me let me give you this stat. This is one that was more surprising than even the California um moving to Nevada. Nevadans moving to California.
00:04:45
Irelynn Zurflueh
Look at this number. Seven over 7,000 moved from Nevada to Washington. yeah Now in Washington, they experienced kind of The same thing that Oregon does, which is a little less sunshine and a lot of rain, which in my opinion is depressing as can be.
00:05:06
Irelynn Zurflueh
So Nevada, you get the sunshine so many days out of the year. You don't have a bunch of cloudy rain. Yesterday it was rainy in the afternoon. It was sunny in the morning, sunny at night. It was just the right amount of cloud cover.
00:05:21
Irelynn Zurflueh
And I think that sums up what Nevada's weather is like most of the time.
Entertainment and Infrastructure in Las Vegas
00:05:25
Irelynn Zurflueh
That sounded like a song. Sunny in the morning, sunny. I think it is a song, actually. Well, I'm from Oregon and I miss the rain. I love the rain. It's liquid sunshine.
00:05:34
Irelynn Zurflueh
What about Texas? Did you know, this is funny, it rains more in Houston per annum than it does in Portland, Oregon? yeah That's crazy. I did not know that. That must be why in Houston, when you're driving, they have all those weird on and off ramps that are so elevated because they have to keep the water from coming onto the freeway. Maybe, but Texas is another place people move to.
00:05:55
Irelynn Zurflueh
like I think some people have moved from Nevada to Texas and some people have moved from Texas to Nevada. I wonder if this is normal. though I wonder if we're looking at this from a different perspective. Maybe every state has people moving in and people moving out.
00:06:07
Irelynn Zurflueh
Could be. Let me ask you again. You've talked about family. You talked about real estate. You talked about your kids being here. What else is so unique and wonderful to keep you here in at least Las Vegas, Nevada?
00:06:20
Irelynn Zurflueh
Yeah. Well, we got, it's the entertainment capital of the world. There's all kinds of shows and attractions, celebrities, singers, comedians. It's nonstop. It's a rotating door of famous people performing. So great performance ah opportunities here to go see, right?
00:06:38
Irelynn Zurflueh
ah our Our restaurant game is strong, stronger than most places. You can get any kind of food, top notch, you know, Michelin chefs. Give me an example. well we got a Peter Luters here. That's a steakhouse that we used to only be able to find in new York.
00:06:53
Irelynn Zurflueh
I also like the Sphere. The Sphere, we went and saw the Eagles. I've never had a concert that blew my mind like that. I mean, I would, if I was living anywhere in the United States, to have the experience that we had at the Sphere for the Eagles concert, yeah I would fly anywhere to have that.
00:07:12
Irelynn Zurflueh
And it literally is 20 minutes from our door. You know, people fly here to see that. Absolutely. They should. It's the best concert I've ever seen in my entire life. We got the Golden Knights. We got the Raiders. We got the Oakland A's coming in. We got, they're going to have an team. We got the Aces. We got, so we got all the pro teams coming in or they're already here. So that's, we got everything. We got it all except for that ocean you were talking about earlier. Yeah, but there's a lot of states that don't have ocean.
00:07:37
Irelynn Zurflueh
i also have to say that I, though we live in a construction zone all the time, usually in Las Vegas because of our growth, I don't find it all that miserable to get from one side of the town to the other side of the town.
00:07:50
Irelynn Zurflueh
I mean, I think that, you know, our freeway accessibility is pretty good. No, it's good. I lived LA, as you know, and it's always packed. I was kind of the, I could kind of get anywhere 20 minutes in l LA. That's what they say in LA. I can get anywhere in 20 minutes, but if you don't know the roads, it can take you a long time.
00:08:08
Irelynn Zurflueh
I will say that we, We don't really build big enough initially. seems like we're always having to rebuild our freeways here in Nevada.
Public Transportation and Real Estate in Las Vegas
00:08:16
Irelynn Zurflueh
Yeah, and I think that's kind of with the same concept of
00:08:21
Irelynn Zurflueh
nobody's a hundred percent sure when maybe Las Vegas's population will become stagnant. You even said, when are they going to stop moving to Las Vegas? And you said that 30 something years ago. I think the road planner said the same thing. Maybe it's going to stop. Let's just build it this big.
00:08:35
Irelynn Zurflueh
Oops. Should have built it bigger. Double. Well, but the nice thing is we have the land. So we have the land to be able to expand. Yes. It's inconvenient when they start the construction, but we, we have the ability. We don't have to go in there and bulldoze down,
00:08:49
Irelynn Zurflueh
you know, commercial centers or homes in order to expand our freeway. So they did have some foresight because the land is there to expand our freeways. Hey, I'm not a city planner. I don't know how it all works. I just know I get in my car and I drive somewhere air and I get to the location.
00:09:04
Irelynn Zurflueh
Well, i will I will say this about Las Vegas, and this is the negative part. You ready? There's a negative part? bus system. There's a negative part? Yeah, our bus system blows. We need better public transit.
00:09:16
Irelynn Zurflueh
That is for sure. but i think the reason why I think the reason why that is something that hasn't been elevated in our city is because we all have cars, and it's very easy to get yeah around.
00:09:28
Irelynn Zurflueh
So you just invest in the car, and then your life is... Yeah. Get to one place or the other place pretty easy. We're not a public transportation kind of city. So at least not yet. Who
Tax Advantages and Business Attractions in Nevada
00:09:38
Irelynn Zurflueh
knows? Maybe that'll change.
00:09:39
Irelynn Zurflueh
So now let's talk about this. What about financial opportunities are in Las Vegas as far as if you're buying a property here? What's it what's it like for real estate as far as coming to Nevada?
00:09:53
Irelynn Zurflueh
Well, if I was moving here from California, I would be amazed at what may how far my dollar would go when I'm purchasing real estate. I have clients that sell a home built in 1928 somewhere near San Jose or near Silicon Valley, 1,300 square foot old home.
00:10:10
Irelynn Zurflueh
They sell it for like $2 million. And then they come to Nevada and they can buy you know a really, really nice home for $2 800,000 to a million and and it just changes their life. So, you know, if you're okay with the move, your your your real estate dollar goes a lot further here than it does in California.
00:10:27
Irelynn Zurflueh
That's not a secret though. Okay. So even though we've been seeing our housing prices go up, we're, I think at a medium 490,000 now. I can't tell you the exact number, but it's in the high 400s, yeah.
00:10:39
Irelynn Zurflueh
And I remember in 1993, this is going to date everyone, I was flabbergasted when it got to $220,000. was like, what?
00:10:51
Irelynn Zurflueh
That's crazy, right? That statement mostly only dated to you because you're the one that made it. But yes, you're right. The median home price was near or under $200,000 when I first moved here in 1990.
00:11:03
Irelynn Zurflueh
And I remember people saying in 1993,
00:11:06
Irelynn Zurflueh
This is it. It's not going to go any higher. You know, this is so high. What are we going to do? We can't, we can't buy real estate and actually make money off of it because there's just no way it's going to get higher than that. Remember when we bought our first house, when we, we lived in, I think it was on Yam Hill. Correct. And we had two kids.
00:11:26
Irelynn Zurflueh
We had our second baby there. Well, you had them. I was there, but you had them. But then we moved to a larger house. And what's the big mistake we made? We sold it. We should have never sold it.
00:11:37
Irelynn Zurflueh
You're exactly right. $8,391 Yamhill. Should have never sold it. put got up in public records i think we bought that for like $124,000 or something like that. i think so.
00:11:49
Irelynn Zurflueh
And then we sold it. We had a little bit of an increase. so we were there for about four years, but we should have held on to that. Probably worth about $403,000 right now. Hold real estate. What we should have done is exactly what I do right now, which is take properties that our owners are in a situation that they don't need to sell the property.
00:12:08
Irelynn Zurflueh
And then I find them phenomenal residents that actually pay their mortgage. Yeah. we i There's a very, very, very wise man whose name I won't share, but he said once in a seminar I was at, never, never,
00:12:23
Irelynn Zurflueh
sell real estate to get the money out of it. If you sell real estate, buy more real estate. By the way, did you just pinch my arm? Well, because you were tap tapping the table again. He always taps the table. he drives me crazy. shes You're trying to hide it under the thing? What is something else that is very unique about Nevada? Why was all the questions with all this Spanish Inquisition? Because this is the only thing that I i think is is why, without an ocean, we'll just say we're a state without an ocean, without an ocean, what keeps people here and then allows them to grow wealth or live there?
00:12:59
Irelynn Zurflueh
or live a life that they want to live and finances are part of that. So Nevada gives us an opportunity to do that. And one of the big key items is what we don't have this Oh, you want me to say state income tax? Amen, Brother Ben. That's what you're a vision for? Yep, because that's big.
00:13:21
Irelynn Zurflueh
That is very big. And Nevada does not have state
Nevada's Strategic Location and Real Estate Appeal
00:13:25
Irelynn Zurflueh
income tax. So that is a phenomenal opportunity for people that don't want to move here to Nevada. Yeah, we'll get people coming here to make the headquarters of their businesses here so they can take advantage of that as well.
00:13:36
Irelynn Zurflueh
Take advantage of it every possible way you can. And I think that's why we have huge warehouse businesses. We have a, what's that place called? It stores all stores all the data off of Duviv. Oh, Switch.
00:13:49
Irelynn Zurflueh
That thing's huge. Yeah. and i And it keeps growing. One of the benefits of bringing your business here is to not not have that state income tax that you have to be a part of. The other thing that I know keeps people here, and maybe they're not so quick to go to some of the other East Coast um states, though those East Coast states, you'd have to shovel the snow, which definitely would not make me happy.
00:14:10
Irelynn Zurflueh
But besides, just right, that's true. i guess the Northern East Coast states. Yeah, Northeast. I had a client that had a property, ah Northern East Coast State.
00:14:22
Irelynn Zurflueh
And when she told me what her property taxes were, that could have bought a house in Las Vegas at the time. it's To hear it is crazy when you're used to paying the property taxes that we've been paying here in Nevada for so long.
00:14:36
Irelynn Zurflueh
And what do we pay? What is our property tax? I mean, it kind of averages out to about 1%. There's a whole ah algorithm and and formula, but it's basically, you're basically paying about 1% of what the property value is.
00:14:47
Irelynn Zurflueh
Which is crazy. That's not very much, yeah. Well, I do have some clients that complain about it, but I think honestly, we have no reason to complain. That is a very low property tax number. And it it allows individuals to actually buy more home because the the property taxes isn't going to be such a big number to have to pay. Oh, sure.
00:15:07
Irelynn Zurflueh
Absolutely. ah you know From an investment standpoint, that's going to be a positive. I was just thinking also that Nevada's Located very favorably in that I can get to Huntington Beach in maybe three hours and 45 minutes. Yep.
00:15:19
Irelynn Zurflueh
I can get to north to Utah to Bryce and Zion and some beautiful natural parks. I can hit Phoenix and then Mexico beyond that. So it's pretty, it's located very, very, which makes sense because it used to be a station along the moment trail, if I'm not mistaken. So.
00:15:37
Irelynn Zurflueh
it's I think the location is really good for Nevada too.
Summary of Nevada's Appeal
00:15:39
Irelynn Zurflueh
Hey, and there's something that i learned in my real estate book many, many years ago. What is the most important thing to know in real estate? I thought it was these quizzes.
00:15:52
Irelynn Zurflueh
Location. Oh, my Location. Location. And Nevada is located conveniently to so many wonderful states with so many really cool things. It's definitely So to summarize, i think what we've said is, though there's been some natural disasters, some crazy weather out there, some weird political shifts in certain states, I don't think that anything is any different on people moving to Nevada than what it's been for the last five years.
00:16:25
Irelynn Zurflueh
They see Nevada as an opportunity to buy a little something more. They don't have to worry about their state income tax. They don't have to worry about the tornadoes, the fires, the things of that nature.
00:16:37
Irelynn Zurflueh
And then overall, you get lower property tax. So it is always going to be a drive or at least on the short list of when people are trying to relocate from one state to another state. Would you agree?
00:16:51
Irelynn Zurflueh
Yes. And we haven't mentioned job opportunity. Lots of employment opportunities here don't exist in other places. All these casinos and you can be dealers, you can be, you know, cashiers, you can be cocktail waitresses. is's a lot of different business opportunities that don't exist in the other states.
00:17:06
Irelynn Zurflueh
Yeah. What did they used to say for every one hotel room? It offered three jobs. Yeah, something like that. one outside point five or so yeah Outside of the hotel entertainment. That's why we always get excited when there's going to be a new resort.
00:17:19
Irelynn Zurflueh
you know You count the hotel rooms and you go, oh, that's 10,000 more jobs. So yeah it's exciting place to be. You said like the last five years, but it's probably the last 25 years. Again, ever since I've been here, it's been growing.
00:17:30
Irelynn Zurflueh
The growth is unbelievable. Yep. We're up and coming. And I think for the, for the most part, they've been able to keep up with it to keep a good quality, um you know, way of life. There's a couple of things that we're still working on. We need to get our school system ah tightened up little bit better.
00:17:45
Irelynn Zurflueh
um but you know, we're not perfect, but we certainly have a quality of life that is really good. In my opinion here in Las Vegas.
Conclusion and Listener Engagement
00:17:54
Irelynn Zurflueh
couldn't agree more. Las Vegas and Nevada is a up and coming state that offers an awful lot for you and your family and your business. So check us out.
00:18:03
Irelynn Zurflueh
Good thing about our podcast, Jenny and I are accessible all the time. You can always call us at the office, 702-434-HOME, 702-434-4663.
00:18:16
Irelynn Zurflueh
Ask for Jenny and Max and say, hey, I want to talk to you more about what you guys are talking about on your podcast. We are here for you and here for that. Right, Jenny? And you can always email us at info.com. At McKenna team.com info at McKenna team.com.
00:18:31
Irelynn Zurflueh
And if you think that you want to hear more of us or share this episode with somebody, feel free to do so. We would appreciate that. We'd be okay with that. Absolutely. That's it guys. Thoughts for rent. Realtors keeping it real.
00:18:43
Irelynn Zurflueh
We'll talk to you next time. Have a great day.