FINANCE

EXECUTIVE INSIDER

An interview with Mike Gould of Nevada State Bank




Mike Gould is Senior Vice President of Nevada State Bank and mortgage lending manager for the bank’s parent company, overseeing a division that includes Nevada, Colorado, Washington and Oregon. He has spent the last 18 years managing mortgage teams in several different organizations, from small independent brokerages to large-scale corporate organizations. 

Gould has been involved in real estate lending in southern Nevada for seven years, and is familiar with the special needs of high-income clients purchasing luxury homes or building custom homes. Because of his experience and perspective on the local market, we asked him for some insights into the unique southern Nevada real estate market.




What trends do you see in southern Nevada real estate? 

Both home sales and prices are rising, while inventory continues to be thin. New home construction continues to improve, but we are still considerably off our prerecession numbers.

What part of the valley do you see as the next up-and-coming area? 
The south end of the valley near Southern Highlands continues to grow and is adding new-construction housing projects.

Have you seen many out-of-state people buying luxury homes here? What are their reasons? 

We see a lot of out-of-state buyers making purchases in the Las Vegas luxury market. There are several reasons for this. Housing prices here compare favorably with real estate in other areas, especially California.

People can take the proceeds from selling a home in a high-priced area and either upgrade to an existing luxury home here or buy a lot and design their own dream home. We have a favorable state tax structure, especially for business owners who want to set up a primary residence in Nevada. We also offer great weather, entertainment options, and affordability for retirees.


* Loans subject to credit approval. Terms and conditions apply.
**Mortgage Loan Officers do not offer tax advice. 





There are rumors of a bubble. Do you think we are in a bubble, or will the real estate market continue to grow? 

I believe the market will continue to grow. With inventory on a national level being at a 20-year low and the job market continuing to improve, we still have some room to run. The economic outlook remains positive. This was reflected in the 2017 Nevada State Bank Small Business Survey, in which 77 percent of the business owners surveyed said Nevada’s economy is heading the right direction, and nearly 23 percent said they were planning to expand this year. Also, the median sales price in Las Vegas for the month of March was $242,000, making homeownership in Las Vegas very affordable.

What are the advantages of dealing with a broker that specializes in high-end properties? 

A real estate broker that specializes in high-end properties has the knowledge and contacts to place a client in the right house that meets all their needs. They are also able to list luxury properties for a client and get that listing in front of the right prospects who may be in the market for a luxury home. From a financing perspective, it’s critical to have a banker that offers portfolio mortgage products designed to service the self-employed client who may have complicated tax returns and multiple businesses. At Nevada State Bank, our Private Banking Mortgage Loan Officers are well versed in working with high-net-worth clients who may have more complicated financials. The Private Mortgage Bankers at Nevada State Bank receive rigorous training in tax returns* and financial analysis so they can offer a mortgage that meets their clients’ needs.