las vegas foreclosures: Since a Good Chunk Of Foreclosures are Rentals (a little note to the noteholders)... - 10/11/08 10:07 PM
I saw it first on Mara Hawks' blog: A Chicago area sheriff refusing to evict tenants after foreclosure.
While this isn't a complete solution to the problem, the hamsters that run the wheels in my head are turning. It can be determined MONTHS prior to foreclosure through a process called a … (5 comments)
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las vegas foreclosures: Las Vegas NV Renters: Want to be Notified if the Home You are Renting is Getting Foreclosed On? - 09/25/08 04:08 PM
For a mere $14, you can take your lease down to the Clark County Recorder's office and record your interest in the property.
You will be notified when a notice of default, breach or trustee's sale is recorded so you can have a heads up that it is time to find … (14 comments)
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las vegas foreclosures: Las Vegas NV Valley Economic Conditions September 2008 - 09/22/08 10:40 AM
Economic Conditions for the Las Vegas Valley July 2008
Housing Conditions:
Foreclosure/Short Sale Listings (9/22/2008): Total Listings 20,515; Short Sales: 6473, 31.6% of all listings; Bank Owned Listings: 5699, 27.8% of all listings. Short sale and REO listings consume 59.3% of total listings
New Home Sales (July 2008, units sold): 645 Year … (11 comments)
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las vegas foreclosures: Where do you find those Probate and Trustee Sale notices in Las Vegas? - 09/17/08 11:06 AM
Most of the notices are published in Nevada Legal News. You must subscribe! One would think it is in our widely circulated Las Vegas Review Journal, but a majority are NOT!
Trustee Sales are held at 930 S 4th St.
Probate court is held on Fridays at the Regional Justice Center: 200 … (5 comments)
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las vegas foreclosures: Las Vegas, NV August 2008 Area Pendings Report: Pendings are NOT Leveling, for NOW! - 08/27/08 02:50 PM
The Las Vegas Valley has seen some major market stabilization in the last half year. Absorption for August 2008 is a healthy 6.8 months of inventory (compare it to 22.5 months inventory in Nov/Dec!) Be warned, the market as a whole is considered a "neutral market" ~ not a buyer's market, not … (2 comments)
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las vegas foreclosures: Las Vegas NV July 2008 REO Inventory Update: 2.7 Months Inventory, Strong Seller's Market! - 08/23/08 11:49 AM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen dramatically (+593 units), Pendings have risen DRAMATICALLY (+306 units.) Closing data is up up UP at + 278 units.
Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.
Current Listed … (10 comments)
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las vegas foreclosures: Turnberry Place Condo (REO) For Sale! WOW! - 08/17/08 12:36 PM
Turnberry Bank Owned For Sale!Location: Turnberry PlaceFeaturesBedrooms: 2Bathrooms: 2Parking: 1Year Built: 2001Subdivision: Turnberry PlaceLocated on Floor #: 4School District: CCSDSquare Footage: 1712Agent Name: Renee BurrowsBroker: Nevada Realty SolutionsMLS #: 843828InformationContact Information Renee Burrows702-966-2494Contact Reply FormForward to a FriendView Other FlyersPricingAsking Price: $519,900Homeowner Dues: 1600Property Location2877 Paradise Rd 406Las Vegas, NV 89109View … (0 comments)
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las vegas foreclosures: Bank Owned For Sale in Rhodes Ranch! Executive Style Home w/ 3 Car Garage! - 08/17/08 12:34 PM
Rhodes Ranch + 3 Car Garage at $101 a square foot!Location: Rhodes RanchGranite, Lots of HOA Amenities for the HOA price! Check out the Rhodes Ranch Guard Gated Golf community for more info and lots of pictures:http://www.ReneeBurrows.com/RhodesRanchFeaturesBedrooms: 4Bathrooms: 3Year Built: 2005Subdivision: Rhodes RanchLot Size: 6098Garage Size: 3School District: CCSDSquare Footage: 3050Agent … (0 comments)
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las vegas foreclosures: SW Las Vegas NV Home For Sale: Huntington Village Executive Style! - 08/12/08 06:15 PM
Huntington Village Executive Style Home For Sale!Location: Huntington Village at Rhodes RanchMore pictures: www.ReneeBurrows.com/745Community Info:www.HuntingtonHomes411.comFeaturesBedrooms: 4Bathrooms: 3Year Built: 2006Subdivision: Huntington Village at Rhodes RanchLot Size: 6098Garage Size: 3School District: CCSDSquare Footage: 3740Agent Name: Renee BurrowsBroker: Nevada Realty SolutionsMLS #: 840168InformationContact Information Renee Burrows702-966-2494Contact Reply FormForward to a FriendView Other FlyersPricingAsking Price: … (1 comments)
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las vegas foreclosures: Las Vegas Listings: Updated List w/ New Prices! - 08/11/08 05:57 PM
Bank Owned in Mountain's Edge!Location: Mesa at Mountain's EdgeOpen Floorplan with lots of natural light from abundant windows! Large Loft! To view the virtual tour or floorplan go to: www.ReneeBurrows.com/7149FeaturesBedrooms: 3Bathrooms: 3Year Built: 2006Subdivision: Mesa at Mountain's EdgeLot Size: 3485Garage Size: 2School District: Clark CountySquare Footage: 2233Agent Name: Renee BurrowsBroker: Nevada … (5 comments)
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las vegas foreclosures: Momma Has the Las Vegas Bank Owned Auction Pricing Blues! - 08/07/08 01:56 PM
Yep, I admit it, it's not fun out there selling real estate in July/August heat.
Our market has gone from frenzied to down right I-don't-even-know-if-there-is-a-word-in-the-English-dictionary-to-describe-what the heck is going on here.
First of all I think two major events occurred to bring this on:
The banks <it … (17 comments)
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las vegas foreclosures: Natural Market Forces are Not Even Allowing DPA in Some Parts of Vegas! - 07/25/08 07:04 PM
I think we need to hold the phone in regards to property values falling because of lack of Down Payment Assistance (will be referred to as DPA from now on) for FHA Loans.
Average sold prices declined June 2007-June 2008: -37.4% for SFR and -32.8 for Condo/Townhomes.
With ever changing underwriting guidelines and … (18 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley July 2008 - 07/25/08 02:48 PM
Economic Conditions for the Las Vegas Valley June 2008
Housing Conditions:
Foreclosure/Short Sale Listings (7/25/2008): Total Listings 20,918; Short Sales: 6087, 29% of all listings; Bank Owned Listings: 4928, 23% of all listings. Short sale and REO listings consume 53% of total listings
New Home Sales (June 2008, units sold): 777 Year … (0 comments)
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las vegas foreclosures: Las Vegas, NV Area Renters: Is the Home You Are Renting in Default? - 07/18/08 06:51 PM
This is a tutorial for renters who are curious about the foreclosure status of the property you are renting.
With the wave of foreclosures in the Las Vegas Area, many renters are concerned if the property they are renting is in good standing or about ready to get foreclosed on. Even … (8 comments)
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las vegas foreclosures: Las Vegas, NV July 2008 High Rise Inventory Update: Doubled in Last Month - 07/14/08 05:51 PM
We have seen the Las Vegas, NV high rise real estate market as a challenged market with an abundance of resale inventory. For several reasons:
Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in them. Each time … (7 comments)
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las vegas foreclosures: Las Vegas NV June 2008 REO Inventory Update: 2.8 Months Inventory, Seller's Market! - 07/07/08 08:43 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen dramatically (+503 units), Pendings have risen DRAMATICALLY (+199 units.) Closing data is up up UP at + 268 units.
Inventory holding steady. Absorption rate is 2.8 months.
Current Listed Bank Owned Statistics:
Listings (7/3/2007): 4633
Under Contract (7/3/2007): 3496
Sold … (6 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley May 2008 - 06/12/08 06:31 PM
Economic Conditions for the Las Vegas Valley April 2008
Housing Conditions:
Foreclosure/Short Sale Listings (6/12/2008): Total Listings 20,675; Short Sales: 5576, 27% of all listings; Bank Owned Listings: 4287, 21% of all listings. Short sale and REO listings consume 47.7% of total listings
New Home Sales (April 2008, units sold): 749 Year … (2 comments)
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las vegas foreclosures: Las Vegas NV June 2008 REO Inventory Update: 2.9 Months Inventory, WOW! HOT Seller's Market! - 06/03/08 08:25 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen slightly (+218 units), Pendings have risen DRAMATICALLY (+763 units.) Closing data is up up UP at + 442 units.
Inventory holding steady. Absorption rate is 2.9 months.
There are some wild numbers out there in the blogosphere in regards … (9 comments)
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las vegas foreclosures: Las Vegas, NV June 2008 Short Sale Inventory Update: 2.7 Years - 06/03/08 08:13 PM
The absorption rate for Las Vegas Short Sales has dropped by 1/2 year from April to May 2008. Inventory has risen dramatically (+284 units). Pending units has also risen dramatically by +291 units. This is because the MLS board is REQUIRING agents to change status with an offer and make it contingent … (0 comments)
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las vegas foreclosures: Rhodes Ranch Area Active Listings/Sold/Rental Real Estate Market Reports Generated June 3, 2008 - 06/03/08 08:07 PM
This Rhodes Ranch Area resale market report was generated on June 3, 2008 (graph on bottom):
Active Listings: 371
Under Contract: 208
Sold 4/19-5/19/2008: 67
Months Inventory: 5.53
Low: $92,900; High: $3,490,000; Median: 229900(listing prices only)
Rental Market Report generated on June 3, 2008 (graph on top):
Active Listings: 59
Under … (0 comments)
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las vegas foreclosures: Las Vegas, NV Real Estate: Those Pendings are Still Marching Upward! - 05/19/08 04:28 PM
ABSORPTION IS DOWN over 2.3 months in less than a month! Current absorption is hovering between 10-11 months of inventory. There has been a dip in average prices in the rental market. I think the renters are turning into buyers and when we should be seeing a seasonal rise in rentals, … (6 comments)
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las vegas foreclosures: Las Vegas, NV May 2008 High Rise Inventory Update: 3.6 years! (no change) - 05/13/08 09:37 AM
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:
Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in … (3 comments)
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las vegas foreclosures: Las Vegas, NV April 2008 REO Inventory Update: A Seller's Market @ 4 Months Inventory - 05/05/08 01:40 PM
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 … (3 comments)
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las vegas foreclosures: (Las Vegas, NV) Hi Ho Hi Ho It's Back to the Bank It Goes: Reflections from an Owner Occupied Living in the Land of the Foreclosed - 05/01/08 06:52 PM
Some days are a surge of excitement, for all the job opportunity I have here, and some days it is infuriating, like living next to a pre-foreclosure and hearing from renters losing their security deposits from being foreclosed on.
When I saw the Manhattan mid rises going back to the bank in … (20 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley April 2008 - 04/29/08 06:32 PM
Economic Conditions for the Las Vegas Valley March 2008
Housing Conditions:
Foreclosure/Short Sale Listings (4/29/2008): Total Listings 21,669; Short Sales: 5270, 24% of all listings; Bank Owned Listings: 3859, 17% of all listings. New Home Sales (March 2008, units sold): 869 Year Change -29.3% (excl condo conversions, highrises) New Home Sales (March 2008, median … (1 comments)
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las vegas foreclosures: Las Vegas, NV Real Estate: Owner Will Carry (OWC) and Lease Options - 04/29/08 05:49 PM
This is a primer (not intended legal advice, just my astute market observations as a real estate licensee in the state of Nevada) for anyone who is looking to Purchase or Sell using one of these types of financing. This post was prompted by Jeff Turner's most excellent post in response … (17 comments)
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las vegas foreclosures: Las Vegas, NV Pendings STILL on the Rise, Absorption Rate is Looking Good! - 04/16/08 10:00 PM
ABSORPTION IS DOWN over 4.5 months in less than a month! Current absorption is hovering between 12-13 months of inventory. There has been a dip in average prices in the rental market. I think the renters are turning into buyers and when we should be seeing a seasonal rise in rentals, … (3 comments)
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las vegas foreclosures: Las Vegas, NV REO Inventory Update March 2008 - 04/16/08 09:47 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+161 units), Pendings have fallen slightly -77 units. Closing data is unavailable due to MLS changes (SORRY!) ALSO~ since these numbers were pulled (13 days ago) inventory has risen by 1000 units.
I would say with … (3 comments)
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las vegas foreclosures: Las Vegas, NV Short Sale Inventory Absorption Update March 2008: 4.7 Years! - 04/16/08 09:35 PM
The absorption rate for Las Vegas Short Sales has dropped by 1 year from February - March 2008. Inventory has risen dramatically (+402 units). Pending units has also risen dramatically by +348 units. This is because the MLS board is REQUIRING agents to change status with an offer and make it … (0 comments)
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las vegas foreclosures: Las Vegas, NV Valley High Rise Absorption Update: 3.6 Years! - 04/16/08 09:28 PM
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:
Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in them. Each … (3 comments)
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las vegas foreclosures: Las Vegas, NV Valley Economic Conditions March 2008 - 03/31/08 11:13 AM
Economic Conditions for the Las Vegas Valley February 2008
Housing Conditions:
Foreclosure/Short Sale Listings (3/31/2008): Total Listings 22,502; Short Sales: 5138, 22% of all listings; Bank Owned Listings: 2175, 9.6% of all listings. New Home Sales (February 2008, units sold): 786 Year Change -31.2% (excl condo conversions, highrises) New Home Sales (February 2008, median … (0 comments)
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las vegas foreclosures: Las Vegas Area Auction Update from my Buyer's Agent - 03/22/08 12:43 PM
We are representing several buyers at today's auctions.
He just called me and told me it is PACKED and some of these homes are going for incredibly low prices even with the amount of buyers.
He said they are going by area and the older homes are up first and it doesn't appear … (13 comments)
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las vegas foreclosures: Las Vegas, NV Pendings are still rising swiftly! - 03/20/08 10:52 AM
I thought we were going to cap off about a week and a half ago but we are still watching those pendings rise to the tune of 30-50 new pendings per day!
Currently our Las Vegas REO (bank owned, foreclosure) market has 4.5 months inventory and is definitely a seller's market. … (11 comments)
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las vegas foreclosures: Las Vegas, NV: The Auctions Are Coming, The Auctions Are Coming!! - 03/02/08 09:49 AM
How exciting that we get to have more auctions on the way when the December auctions did a great job stimilating interest in our real estate market, specifically REO (bank owned) listings.
My leads have switched from rental leads to buyer contacts overnight. Price corrections mean that renters, who have the income … (9 comments)
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las vegas foreclosures: Las Vegas, NV REO February 2008 Inventory Absorption Update: 5.3 MONTHS!!! - 03/01/08 04:20 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+66 units), Pendings have risen DRAMATICALLY (almost double in one month +538 units) and closings have gone up considerably too (+175 units). Monthly absorption rate down slightly by almost two months!
I would say with the … (13 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley February 2008 - 02/24/08 04:39 PM
Economic Conditions for the Las Vegas Valley December 2007
Housing Conditions:
Foreclosure/Short Sale Listings (2/23/3008): Total Listings 23269; Foreclosures Commenced: 1820, 7.8% of all listings; Short Sales: 4731, 20.3% of all listings; Bank Owned Listings: 2190, 9.4% of all listings. New Home Sales (December 2007, units sold): 1235 Year Change -48.2% (excl … (6 comments)
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las vegas foreclosures: Las Vegas, NV Real Estate: Pendings Up 536 Units in 11 Days! - 02/21/08 09:17 AM
Las Vegas, NV Area Pendings for single family, condos and townhomes are up 536 units in 11 days and listings are down 332 units in the same time frame.
Buyer interest is ranging from first time buyer to experienced investor. The frenzy is mainly due to swiftly rising rents and declining REO and … (24 comments)
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las vegas foreclosures: Las Vegas, NV Area Bank Owned Listings: We Are Seeing a Seller's Market! - 02/17/08 12:07 PM
The bank owned market is officially a seller's market. We have seen all the signs in the last two months as the December auctions have jump started the interest in this market!
I am EXTREMELY happy to report that since those December auctions: Listings have stayed stable, Pendings have tripled and Sales … (16 comments)
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las vegas foreclosures: Las Vegas, NV Real Estate Good News: Listings Down, Pendings Up! - 02/10/08 10:06 AM
Las Vegas NV Residential Real Estate still has a long way to go BUT with listings down since December and pendings up, it shows the market is M-O-V-I-N-G!!
Using statistics from my December Slice-of-Pie reports here is the good news:
All SFR, Townhome, Condo Listings:
Listings (12/9/2007): 25691 Under Contract (12/9/2007): 2304 Sold … (10 comments)
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las vegas foreclosures: Las Vegas Area First Time Buyer: Rent or Buy? - 01/27/08 08:05 PM
Purchasing a home for the first time can be a scary process. What is even more scary is our rental market which has tightened up since the credit crunch! If you have large dogs, expect a denial just because of them! How about rental homes getting foreclosed on and the tenants … (18 comments)
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las vegas foreclosures: Las Vegas, NV REO Inventory Update January 2008: 7.3 Month's Inventory! - 01/27/08 01:15 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+158 units), Pendings have risen considerably (+174 units) and closings have gone up too (+76 units). Monthly absorption rate down slightly by almost two months!
This market is swinging into a neutral seller's market and judging … (2 comments)
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las vegas foreclosures: Las Vegas, NV Valley High Rise Inventory Absorption Update January 2008: 3.9 Years! - 01/27/08 12:53 PM
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:
Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in them. Each … (2 comments)
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las vegas foreclosures: Las Vegas, NV Foreclosure Listings: Pendings See No Signs of Slowdown - 01/20/08 08:38 PM
Pendings are still rising 6 weeks post Las Vegas Foreclosure auctions! Six weeks post we are looking at rising closings (+8 Units/one week) and pendings rose at a nice rate when I expected them to start leveling off (+51 Units/one week)! Yes we are seeing listings rise (+34 units/one week). … (7 comments)
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las vegas foreclosures: Why I Declined an Interview with a Major News Outlet: - 01/18/08 08:00 AM
I got a call late Monday to be interviewed with a major cable news outlet. Several people are kicking my butt (son included) because I declined the interview.
Why would I do such a thing?
First of all the inital conversation with the outlet did NOT start out well.
"We want you to … (37 comments)
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las vegas foreclosures: Las Vegas, NV Foreclosure Listings: Five Weeks Post Auction, Pendings are Still Rising!! - 01/14/08 04:36 PM
Pendings are still rising 5 weeks post Las Vegas Foreclosure auctions! Five weeks post we are looking at rising closings (+10 Units/one week) and pendings rose at a nice rate when I expected them to start leveling off (+66 Units/one week)! Yes we are seeing listings rise (+51 units/one week). … (8 comments)
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las vegas foreclosures: Las Vegas, NV Short Sales: The Scoop - 01/07/08 09:53 AM
Short sale listings in Las Vegas, NV are attractive to buyers because of price. Almost 1 in 6 listings in the valley (4186/24005) are short sales. Only 1 in 13 are in contract (324/4186). Only 1 in 6 close (56/324). Those numbers are dismal for the short sale seller or buyer. Listing … (12 comments)
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las vegas foreclosures: Las Vegas, NV Foreclosure Listings: Four Weeks Post Auction, Absorption is Healthy! - 01/06/08 02:53 PM
Pendings have risen well over the 500 I predicted several weeks ago from these Las Vegas Foreclosure auctions! Four weeks post we are looking at rising closings (+40 Units/one week) and pendings are still rising but at slower levels and remaining steady (+12 Units/one week)! Yes we are seeing listings rise … (1 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley December 2007 - 01/03/08 10:58 PM
Economic Conditions for the Las Vegas Valley November 2007 Housing Conditions:
Foreclosure/Short Sale Listings (1/3/3008): Total Listings 23973; Foreclosures Commenced: 1244, 5% of all listings; Short Sales: 4131, 17% of all listings; Bank Owned Listings: 2183, 9% of all listings. New Home Sales (October 2007, units sold): 1170 Year Change -45.5% … (0 comments)
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las vegas foreclosures: SW Las Vegas Bank Owned Listing: $207K, No HOAs, 1568 Sq Feet! - 01/03/08 10:34 PM
Bank Owned in SW Las Vegas!Location: Sierra Madre @ Rhodes RanchNO HOA's!!! Great area near schools, hospitals, shopping, professional offices and restaurants. Super proximity to the 215/Durango. For area information: www.SierraMadre411.com and for more information on this house including a virtual tour and floorplan go to: www.ReneeBurrows.com/7028InformationContact InformationRenee Burrows702-580-1783renee@reneeburrows.comContact Reply FormForward … (0 comments)
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las vegas foreclosures: Southwest Las Vegas Real Estate: Bank Owned & Major Price Reduction. Rhodes Ranch $127/Square Foot - 01/01/08 06:53 PM
Bank Owned in Rhodes Ranch!Location: Rhodes RanchBank Owned Home in Rhodes Ranch! Rhodes Ranch features: community golf, a water park & a community center just to name a few of the amenities. To see more on Rhodes Ranch go to: www.LivingAtRhodesRanch.comTo view more pictures go to: www.ReneeBurrows.com/142InformationContact InformationRenee Burrows702-580-1783Contact Reply FormForward … (3 comments)
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las vegas foreclosures: Southwest Las Vegas Real Estate: Bank Owned & Major Price Reduction: Single Family $179,900 - 01/01/08 06:23 PM
Bank Owned in Southwest Las VegasLocation: Liberty @ Warm SpringsCharming Patio Home. Community playground. Walking distance to shopping, professional offices, restaurants and local gaming. Great access to the south 215/Durango.To view the virtual tour (more pictures) and floor plan go to: www.ReneeBurrows.com/7246InformationContact InformationRenee Burrows702-580-1783Contact Reply FormForward to a FriendView Other FlyersPricingAsking … (2 comments)
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las vegas foreclosures: Las Vegas Foreclosure Listings: Three Weeks After Auctions, ABSORPTION BEGINS! - 12/30/07 01:20 PM
Pendings have risen well over the 500 I predicted several weeks ago from these Las Vegas Foreclosure auctions! Three weeks post we are looking at rising closings (+6 Units/one week) and rising pendings (+13 Units/one week)! Yes we are seeing listings rise (+38 units/one week). I am almost wondering if … (10 comments)
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las vegas foreclosures: Nevada Takes Title For Fastest Growing State Again! - 12/29/07 11:14 PM
Nevada is once again the fastest growing state!!! Arizona took that title the past two years.
The anticipation is being felt in the form of higher multi family building units being permitted as less people can get a loan to buy a home right now. I pull these statistics monthly and … (13 comments)
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las vegas foreclosures: Las Vegas Foreclosure Inventory Update December 2007: 9.0 Months of Inventory! - 12/26/07 06:56 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+121 units), Pendings have risen considerably (+204 units) and closings have gone up too (+27 units). Monthly absorption rate down slightly by a half a month!
Current Listed Bank Owned Statistics:
Listings (12/26/2007): 2150Under Contract (12/26/2007): … (4 comments)
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las vegas foreclosures: Las Vegas Foreclosure Stats: Two Weeks After the Auctions - 12/23/07 01:45 AM
I may have been a little conservative when I estimated weeks ago that we would see 500 pendings rise from these Las Vegas Foreclosure auctions! Two weeks post we are looking at rising closings and rising pendings (+57 Units)! Yes we are seeing listings rise (+13 units), not to outpace the … (0 comments)
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las vegas foreclosures: Where is Your Slice of the Pie? Las Vegas November 2007 Macros Broken Down! - 12/16/07 03:15 PM
All SFR, Townhome, Condo Listings:
Listings (12/9/2007): 25691Under Contract (12/9/2007(: 2304Sold November: 1137Month's Inventory: 22.5 All SFR Listings:
Listings (12/9/2007): 20241Under Contract (12/9/2007): 1886Sold November: 956Month's Inventory: 21.2
All Condo Listings (Excluding High & Mid Rise)
Listings (12/9/2007): 2957Under Contract (12/9/2007): 198Sold November: 82Month's Inventory: 36.1
All High Rise Condominium Listings:
Listings (12/9/2007): 854Under … (7 comments)
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las vegas foreclosures: Las Vegas Foreclosure Stats: One Week Past the Last Auction - 12/16/07 12:50 PM
YES! We hit the magic 500 Las Vegas Foreclosure pending number that I predicted several weeks ago. There are exactly 500 REO listings under contract as of today. That is +64 units from last week, up 123 units from two weeks ago, and up 214 units from October 2007 (a mere … (6 comments)
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las vegas foreclosures: Las Vegas Sellers: Pricing is Essential in this Market! - 12/11/07 11:38 AM
Right now, with so much inventory, pricing is your #1 marketing tool.
Currently your main competition is (in order):
New Construction: New construction set the trend with prices. The prices began to drop beginning of September and the bottom fell out in middle of October. In general, you are looking at 6-8 … (21 comments)
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las vegas foreclosures: All Eyes on Vegas: Middle of Auction Las Vegas Foreclosure Stats - 12/09/07 06:44 PM
A total of three auctions in 8 days! There are still some REO properties listed as active but the banks and auction winners are still hammering out details. I think we will easily get to the 500 pendings in the next two weeks that I was hoping for in the comments … (12 comments)
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las vegas foreclosures: All Eyes on Vegas: Las Vegas Foreclosures Pre-Auction Stats - 12/02/07 01:04 PM
With three auctions on Bank Owned (REO) properties in the next 8 days, I decided I should post stats approx mid month, before the Las Vegas foreclosure auctions and then I will post weekly until my next market report is due (around Christmas week.) This is to monitor pendings and sales … (11 comments)
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las vegas foreclosures: Las Vegas Buyers & Irrational Thought Processes! - 11/28/07 08:50 PM
I just have to put this one out there and dedicate it to all the buyers who think they are the *only* buyers that are aware of the three REO auctions in the next two weeks. There are just a little over 600 properties in those auctions and there is an … (5 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley November 2007 - 11/27/07 06:06 PM
Economic Conditions for the Las Vegas Valley October 2007 Housing Conditions:
Foreclosure/Short Sale Listings (11/27/2007): Total Listings 26,513; Foreclosures Commenced: 1704, 6.4% of all listings; Short Sales: 4105, 15.4% of all listings; Bank Owned Listings: 2065, 7.8% of all listings. New Home Sales (October 2007, units sold): 1170 Year Change -45.5% … (2 comments)
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las vegas foreclosures: Shmittens in Nevada: Up Markets Breed Fraud, Down Markets Breed Fraud - 11/24/07 12:43 AM
Shmittens is a term that some of us regular doggie park go-ers coined for when an irresponsible dog owner lets them do their business, fails to pick it up and the next thing we know another pup has run through it and several people end up having to clean up the … (31 comments)
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las vegas foreclosures: Las Vegas Bank Owned (REO) Listings Inventory Update: 9.5 Months Inventory - 11/21/07 08:47 PM
Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+193 units), Pendings have risen considerably (+82 units) and closings have gone up too (+25 units). Monthly absorption rate down slightly (0.2)
Current Listed Bank Owned Statistics:
Listings (11/21/2007): 2029Under Contract (11/21/2007): 368Closed (10/18-11/18/2007: 213Absorption Rate: … (6 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley October 2007 - 11/02/07 10:51 PM
Economic Conditions for the Las Vegas Valley September 2007 Housing Conditions:
Foreclosure/Short Sale Listings (11/2/2007): Total Listings 26,884; Foreclosures Commenced: 1669, 6.2% of all listings; Short Sales: 3852, 14% of all listings; Bank Owned Listings: 1909, 7% of all listings. New Home Sales (September 2007, units sold): 1153 Year Change -54.2% … (6 comments)
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las vegas foreclosures: Some Las Vegas Bank Owned/Foreclosure Listings - 11/02/07 09:55 AM
Other Bank Owned Listings that may interest you:
Rhodes Ranch: 2964 Square Feet, Guard Gated Golf Community with Water Park. $430,000 Reduced!!
Southwest: 4 Bedrooms, Near 215/South Jones. $270,900 Reduced!
Southern Highlands: Going to Auction Dec 2, Fill out a pre-auction offer now! $126 a square foot!
Southwest: Single Family near 215/South Durango w/ attached … (4 comments)
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las vegas foreclosures: Are Banks Becoming the Upcoming Buy & Hold Investor in Las Vegas? - 10/28/07 12:11 PM
That is the pressing question of the week!
Here is something I have noticed:
Las Vegas Rental Inventory Slight IncreaseResale Inventory Stable to Slight DecreaseLast Three BPO's have Requested a Rental CMACoincidence?
I was talking about this with an LO on Friday and he confirmed that banks are considering a buy/rent/hold strategy to avoid … (20 comments)
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las vegas foreclosures: Las Vegas New Construction, Foreclosures & Rental Homes: Let's Talk About the GOOD Markets! - 10/21/07 05:03 PM
Las Vegas NV Real Estate hasn't been a total bomb this year. There are several markets that are moving that need to have their day in the sun. Just like my subject line touts: Rentals & New Construction are chugging along fairly well. Bank Owned Property (REO's or foreclosures) are moving … (2 comments)
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las vegas foreclosures: High Rise Inventory Updates: - 10/18/07 01:21 PM
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:
Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in them. Each … (9 comments)
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las vegas foreclosures: The Naughty "F" Word to Rear It's Ugly Head Again... - 10/16/07 09:46 PM
And then I will be done with it :)
There has been several in depth reports in the Las Vegas Review Journal. Y'all know I am not a big fan of the media, but these are some pretty detailed reports outlining many of the problems we are facing right now.
I highly … (5 comments)
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las vegas foreclosures: Hey Mommy, I Have a Flesh Wound: Can You Kiss It, Put a Bandage on It & Make It Better? - 10/09/07 09:43 AM
Here's the September 28, 2007 Press Release from the Governor of Nevada's office: Economic Summit on Housing Stability. Here's the coverage on Channel 3, the lack of coverage on Channel 5, more lack of coverage on Channel 8, and absolutely zero coverage on Channel 13 & the Las Vegas Review Journal.
So … (14 comments)
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las vegas foreclosures: If this Little Broad Can Figure it Out, Why Can't They? - 10/04/07 01:28 AM
I have been extremely busy and have figured something out that it doesn't take a brain surgeon to figure out.
I am in the field working with buyers, renters, marketing a couple of my broker's 200 foreclosure listings and interior inspections for BPOs, just to name a few :)
What the … (59 comments)
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las vegas foreclosures: Las Vegas Short Sales Absorption Rate Rises YET AGAIN! - 10/03/07 10:08 AM
The Las Vegas Short Sale Absorption Rate has risen to a pitiful 51 months of inventory, up from 43 months last month!
On 8/27 there were 2743 listings with 250 pendings and 63 closed between 7/15-8/15/2007. On 10/3 there were 3393 listings with 244 pendings and 66 closed between 8/16-9/16/2007.
Some underlying … (10 comments)
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las vegas foreclosures: Icky Green Pools! - 10/02/07 11:22 PM
There are SO many foreclosures and vacant homes in the valley. With the foreclosures, usually the electricity and water gets shut off too.
Homes with pools will turn into soupy green pools. A stagnant pool will provide the ideal breeding ground for mosquitoes .
The Southern Nevada Health District is also concerned … (10 comments)
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las vegas foreclosures: YIKES! You've Been Paying Your Rent ~BUT~ Your Landlord Has Not Been Paying the Mortgage! - 10/01/07 02:36 PM
I absolutely HATE these calls. I get them 1-2 times a week so I can calm them down and let them know they are NOT alone! I have been noticing this trend also when searching for buyers. When are the banks going to wise up and start cracking down on mortgage … (18 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley August 2007 - 08/25/07 07:42 PM
Housing Conditions:
Foreclosure/Short Sale Listings (8/25/2007): Total Listings (8/25/3007) 27,217; Foreclosures Commenced: 972, 3.6% of all listings; Short Sales: 2316, 8.5% of all listings; Both Foreclosures Commenced AND Short Sales: 420, 1.5% of all listings. New Home Sales (July 2007, units sold): 1257 Year Change -48.1% (excl condo conversions, highrises) New … (4 comments)
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las vegas foreclosures: Largest Foreclosure Auction Sale in Las Vegas Tomorrow: August 5, 2007 - 08/04/07 11:39 AM
Details:
Sunday, August 05, 2007 - 1:00 P.M. JW Marriott Las Vegas Resort, Spa & Golf221 N. Rampart Blvd. Las Vegas, Nevada, 89145 702-869-7777
Click here to view the homes.
Click here to view the terms and conditions of sale.
Auction FAQ and Info Sheet.
This is being reported as the largest … (4 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley April 2007 - 04/14/07 03:27 PM
Economic Conditions for the Las Vegas Valley March 2007Housing Conditions:
Foreclosure/Short Sale Listings (4/14/2007): Total Listings (4/14/2007) 23,675; Foreclosures Commenced: 806, 3.4% of all listings; Short Sales: 1104, 4.7% of all listings; Both Foreclosures Commenced AND Short Sales: 305, 1.2% of all listings. New Home Sales (February 2007, units sold): 1,142 Year … (0 comments)
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las vegas foreclosures: Economic Conditions for the Las Vegas Valley March 2007 - 03/14/07 11:55 AM
Economic Conditions February 2007
Housing Conditions: Foreclosure/Short Sale Listings (3/14/2007): Total Listings (3/14/2007) 21,717; Foreclosures Commenced (listings 3/14/2007) 645, 2.9% of all listings; Short Sales (listings 3/14/2007) 913, 4.2% of all listings; Both Foreclosures Commenced AND Short Sales (listings 3/14/2007) 285, 1.3% of all listings. New Home Sales (January 2007, units sold): 1,610 Year Change … (0 comments)
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