Las Vegas, NV Condo For Sale: Updated in the SW! (Lakes Area)SW Las Vegas (Lakes Area) Condo!  For More information, the virtual tour, floorplan and current pricing go to: www.ReneeBurrows.com/3320 Features Bedrooms: 2 Bathrooms: 2 Year Built: 1997 Subdivision: Palisades Point School District: CCSD Square Footage: 1149 Agent Name: Renee Burrows Broker: Nevada Realty Solutions MLS #: 804975 Information Pricing Asking Price: $180,000 Property Location Links Attributes Appliances Range/Oven Full Refrigerator Dishwasher Sink Disposal Microwave Interior Amenities Fireplace Hardwood Floors Exterior Amenities Patio Las Vegas, NV April 2008 Rental Home Report
Rental Homes with pools are in very large demand with summer on the horizon. Renters are turning into buyers so we are seeing *a little* pressure taken off of the renter's market Units Leased:
Average Monthly Rental Rates:
Median Monthly Rental Rates:
Absorption Rate is stable from last month and remains a Landlord's Market at 2.2 months of inventory in the Rental Sector for the Las Vegas Valley. Maybe we will see a stabilizing in the rental market coming up. It seems to be softening every month! Rhodes Ranch Area Active Listings/Sold/Rental Real Estate Market Reports Generated May 13, 2008
This Rhodes Ranch Area resale market report was generated on May 13, 2008 (graph on bottom):
Median List Price for an area rental: $1250/month, Low: $795, High: $2995 Note: THE RESALE MARKET IS NOW A STABLE MARKET, THE RENTAL MARKET REMAINS HOT WITH BARELY ANY INVENTORY! Information from GLVAR is deemed reliable but not guaranteed. Last Market Report Generated April 30, 2008 Click here to view past market report graphs and active rental, resale and new construction listings in the Rhodes Ranch Area Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch For More information on the Rhodes Ranch Area: http://www.livingatrhodesranch.com/ If you would like to buy, rent or sell a home in the Rhodes Ranch Area, please call 702-966-2494. Press 1 if you would like to buy, press 2 if you would like to rent, press 0 if you would like to sell! Las Vegas, NV May 2008 High Rise Inventory Update: 3.6 years! (no change)
We have seen the Las Vegas, NV high rise real estate market have a phenomenal (and scary) jump in inventory in the last several months. For several reasons:
Here are the high rise stats: Rentals:
Resales:
Rental inventory up significantly, resale inventory remaining stable. More towers are opening which means more inventory will be on the market soon. This is definitely a sub market that bears a watchful eye. There has been a noticed rise in foreclosures & bank owned listings at Manhattan South. List prices for those are about 50-65% of what the original owners paid for them! Manhattan South is located on Las Vegas Blvd South across the street from South Point Hotel & Casino but off strip and is a mid rise community. We are also seeing a noticeable rise in foreclosures in Soho as adjustable loans adjust. Soho is located in the Arts district between the strip and downtown. If you are thinking about buying or renting a high rise condominimum in the Las Vegas area, please call 702-966-2494. Press 1 if you are a buyer or press 2 if you are a renter. Las Vegas, NV Condo For Sale, Bank Owned in SW @ $116,900!!Condo in SW Las Vegas  For more pictures or to view the floorplan go to: www.ReneeBurrows.com/9050 Features Bedrooms: 2 Bathrooms: 2 Parking: 1 Year Built: 2004 Subdivision: Apache Springs Condo "The Falls" Located on Floor #: 2 Floors in Bldg: 2 School District: CCSD Square Footage: 936 Agent Name: Renee Burrows Broker: Nevada Realty Solutions MLS #: 822593 Information Pricing Asking Price: $116,900 Property Location Attributes Appliances Range/Oven Dishwasher Sink Disposal Interior Amenities Fireplace Building Amenities Patio Swimming Pool Hot Tub Guest Parking Basketball Court Exercise Room Recreation Center Las Vegas, NV Rentals: LIVE LIKE A ROCK STAR IN PANORAMA!Live Like a Rock Star in Panorama!  Call for private viewing or to view any other high rise rental properties!! Features Bedrooms: 2 Bathrooms: 2 Located on Floor #: 18 Square Footage: 1226 Parking Spaces: 1 Property Type: High Rise Pets Allowed: Cats & Dogs Year Built: 2005 School District: CCSD Agent: Renee Burrows Broker: Nevada Realty Solutions Information Pricing and Availability Rent: $1,995 per month Deposit: 5000 Minimum Lease: 7 months Included Utilities: none Property Location Attributes Rental Unit Amenities Refrigerator Dishwasher Washer/Dryer Balcony Building Amenities Swimming Pool Exercise Room Las Vegas, NV Real Estate: A SFR for $154K in SW? NOT A SHORT SALE EITHER!SW Las Vegas Courtyard Home For Sale!  For More Pictures + Floorplan go to: www.ReneeBurrows.com/9335 Features Bedrooms: 3 Bathrooms: 3 Year Built: 2004 Subdivision: Richmond at Rhodes Ranch Lot Size: 3485 Garage Size: 2 School District: CCSD Square Footage: 1476 Agent Name: Renee Burrows Broker: Nevada Realty Solutions MLS #: 822583 Information Pricing Asking Price: $154,000 Property Location Attributes Appliances Range/Oven Full Refrigerator Washer/Dryer Dishwasher Sink Disposal Interior Amenities Fireplace Exterior Amenities Patio Fenced Yard Las Vegas, NV Real Estate: SW Charming Patio Home!! $173,900SW Patio Home!  For More pictures or floorplan go to: www.ReneeBurrows.com/8936 Features Bedrooms: 3 Bathrooms: 3 Year Built: 2003 Subdivision: Venezia at Rhodes Ranch Lot Size: 2614 Garage Size: 1 School District: CCSD Square Footage: 1546 Agent Name: Renee Burrows Broker: Nevada Realty Solutions MLS #: 804326 Information Pricing Asking Price: $173,900 Property Location Attributes Appliances Range/Oven Full Refrigerator Washer/Dryer Dishwasher Sink Disposal Interior Amenities Kitchen Island Exterior Amenities Patio Fenced Yard Las Vegas, NV April 2008 REO Inventory Update: A Seller's Market @ 4 Months Inventory
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen DRAMATICALLY (+1535 units), Pendings have risen DRAMATICALLY (+1509 units.) Closing data is unavailable due to MLS changes last month (SORRY!) Just like I mentioned last month, the inventory has risen dramatically! Luckily pendings have also. Are banks holding on for awhile and having controlled releases? Absorption rate is 4.0 months. This is very much a seller's market. There are some wild numbers out there in the blogosphere in regards to percentage of bank owned sold vs other sold. All the solds for the same time period = 2032 units. The percentage of REO's being sold in the market is 48.7%. The number of REO Listings represents 18.4% of the resale market. Current Listed Bank Owned Statistics:
If you would like to buy a bank owned property call 702-966-2494, press option 1 and let us know what you are looking for. We will set you up on a search to have the new listings emailed to you as soon as they hit the market! All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.Las Vegas, NV Short Sale April 2008 Inventory Update: Absorption Dropped Slightly, 3.2 YEARS.
The absorption rate for Las Vegas Short Sales has dropped by 1 year from March - April 2008. Inventory has risen dramatically (+513 units). Pending units has also risen dramatically by +841 units. This is because the MLS board is REQUIRING agents to change status with an offer and make it contingent on bank approval. Many under contract are no where near bank approval. Solds have increased nicely by +47 units. Maybe the banks are finally getting their act together to get these approved! There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis:
One thing you really need to consider when buying or selling short is to make sure the list agent is EXPERIENCED in this niche. These deals are hard to pull whether it is or is not an experienced agent. Read here for last month's report on Las Vegas Area Short Sales. |
Renee Burrows - Las Vegas NV Real Estate Las Vegas, NV More about me… Nevada Realty Solutions Office Phone: (702) 966-2494 Ext.: 0 Cell Phone: (702) 966-2494 Email Me  Specializing in those forgotten "at" Rhodes Ranch Communities in Southwest Las Vegas that offer peek-a-boo views of the mountains and city lights!
I love to watch trends and statistics in this fascinating market! I do have a newsletter that you can subscribe to - so if you want to keep in tune with the Las Vegas Real Estate Market Conditions on a monthly basis, sign up with absolutely no obligation!
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