las vegas foreclosures: Las Vegas, NV Foreclosure Listings: Five Weeks Post Auction, Pendings are Still Rising!!
- 01/14/08 08:36 AM
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). I am almost wondering if this market may swing into a seller's market for one or two months early in 2008. It is definitely the closest thing to a seller's market when you break down all the sub markets here.
Here are current REO (bank owned, foreclosure) statistics:
Listings (1/13/2008): 2261Under … (8 comments)
|
las vegas foreclosures: Las Vegas, NV Short Sales: The Scoop
- 01/07/08 01:53 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 and pending numbers are for 1/7/2008 and closed stats are from December 2007.
What is a short sale?
A short sale is when the seller is selling for less than what they owe to the bank. Instead of coming up with funds at the closing table they are requesting that the bank … (11 comments)
|
las vegas foreclosures: Las Vegas, NV Foreclosure Listings: Four Weeks Post Auction, Absorption is Healthy!
- 01/06/08 06:53 AM
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 (+40 units/one week). I am almost wondering if this market may swing into a seller's market for one or two months early in 2008. It is definitely the closest thing to a seller's market when you break down all the sub markets here.
Absorption (month's inventory) has dipped by … (1 comments)
|
las vegas foreclosures: Economic Conditions for the Las Vegas Valley December 2007
- 01/03/08 02:58 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% (excl condo conversions, highrises) New Home Sales (October 2007, median price): $298,056 Year Change -13.6% (excl condo conversions, highrises) Existing Home Sales (October 2007, units sold): 1529 Year Change -47.9% Existing Home Sales (October 2007, median price): $259,363 Year Change: -10.6% New Home Permits (October 2007): 1840 Year Change +114%Rental … (0 comments)
|
las vegas foreclosures: SW Las Vegas Bank Owned Listing: $207K, No HOAs, 1568 Sq Feet!
- 01/03/08 02:34 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 to a FriendView Other FlyersPricingAsking Price: $207,000Property Location7028 Azure Beach StLas Vegas, NV 89148View MapLinksMore Information on This HomeFeaturesBedrooms: 3Bathrooms: 3Year Built: 2002Subdivision: Sierra Madre @ Rhodes RanchLot Size: 3673Garage Size: 2School District: CCSDSquare Footage: 1568Agent Name: Renee BurrowsBroker: Nevada Realty SolutionsMLS #: 786576AttributesAppliancesRange/OvenDishwasherSink DisposalInterior AmenitiesKitchen IslandExterior AmenitiesPatioFenced YardPowered by … (0 comments)
|
las vegas foreclosures: Southwest Las Vegas Real Estate: Bank Owned & Major Price Reduction. Rhodes Ranch $127/Square Foot
- 01/01/08 10:53 AM
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 to a FriendView Other FlyersPricingAsking Price: $375,900.00Flexibility: NegotiableProperty Location142 Rose Lake StLas Vegas, Nevada 89148View MapLinksMore on This Home!Rental Home SearchNew Construction SearchFeaturesBedrooms: 4Bathrooms: 3Parking: 2Year Built: 2002Subdivision: Rhodes RanchLot Size: 4500Garage Size: 2School District: CCSDSquare Footage: 2964Agent Name: Renee BurrowsBroker: Nevada Realty SolutionsMLS #: 753843Powered by vFlyer.comEqual Housing OpportunityVFLYER … (3 comments)
|
las vegas foreclosures: Southwest Las Vegas Real Estate: Bank Owned & Major Price Reduction: Single Family $179,900
- 01/01/08 10:23 AM
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 Price: $179,900.00Flexibility: NegotiableProperty Location7246 American Pride StreetLas Vegas, NV 89148View MapLinksSearch for a Rental Home!New Construction SearchMore Information on this PropertyFeaturesBedrooms: 3Bathrooms: 3Year Built: 2004Subdivision: Liberty @ Warm SpringsLot Size: 2178Garage Size: 1School District: CCSDSquare Footage: 1484Agent Name: Renee BurrowsBroker: Nevada Realty SolutionsMLS #: 751632Powered by vFlyer.comEqual Housing OpportunityVFLYER ID: … (2 comments)
|
las vegas foreclosures: Las Vegas Foreclosure Listings: Three Weeks After Auctions, ABSORPTION BEGINS!
- 12/30/07 05:20 AM
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 this market may swing into a seller's market for one or two months early in 2008. It is definitely the closest thing to a seller's market when you break down all the sub markets here.
The closings I have pulled are only until the 22nd due to the holidays and … (12 comments)
|
las vegas foreclosures: Nevada Takes Title For Fastest Growing State Again!
- 12/29/07 03:14 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 even though I know this, sometimes I don't feel this when I am working. There are markets that are moving right now and then there are others that are going to take longer to recover. In 2007, we saw a short period of new construction rolling back their prices and … (13 comments)
|
las vegas foreclosures: Las Vegas Foreclosure Inventory Update December 2007: 9.0 Months of Inventory!
- 12/26/07 10:56 AM
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): 572Closed (11/19-12/19/2007: 240Absorption Rate: 9 Months InventoryI am also going to be reporting on statistics in this submarket weekly because of the auctions. I do expect it to swing to a seller's market briefly or close to a seller's market for a month or two soon. View Last Month's Report … (4 comments)
|
las vegas foreclosures: Las Vegas Foreclosure Stats: Two Weeks After the Auctions
- 12/22/07 05:45 PM
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 rise of closings and pendings. I am almost wondering if this market may swing into a seller's market for one or two months early in 2008. It is definitely the closest thing to a seller's market when you break down all the sub markets here. I do want to hold … (0 comments)
|
las vegas foreclosures: Where is Your Slice of the Pie? Las Vegas November 2007 Macros Broken Down!
- 12/16/07 07:15 AM
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 Contract (12/9/2007): 82Sold November: 11Month's Inventory: 77.6
All Townhome Listings:
Listings (12/9/2007): 592Under Contract (12/9/2007): 112Sold November: 76Month's Inventory: 20.9
All Short Sale Listings:
Listings (12/9/2007): 4183Under Contract (12/9/2007): 298Sold November: 66Month's Inventory: 63.3
All REO/Bank Owned Listings:
Listings (12/9/2007): 2175Under Contract (12/9/2007): 436Sold November: 207Month's Inventory: 10.5
All SFR Under 200K Listings: … (6 comments)
|
las vegas foreclosures: Las Vegas Foreclosure Stats: One Week Past the Last Auction
- 12/16/07 04:50 AM
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 two months ago!) We have almost doubled the amount of pendings in two months. Listings are down 55 units from last week but up 297 units from October. Actual closings remain stable. I expect absorption to slightly drop at the beginning of the New Year (2008) as we watch the … (6 comments)
|
las vegas foreclosures: Las Vegas Sellers: Pricing is Essential in this Market!
- 12/11/07 03:38 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 month builds. You want to price competitive with new construction yet deliver quicker than new construction.REO (bank owned, foreclosures): Bank owned homes followed the new construction wave in late October and we are seeing prices sink lower and lower. The inventoroy absorption in this market (when you look at it … (21 comments)
|
las vegas foreclosures: All Eyes on Vegas: Middle of Auction Las Vegas Foreclosure Stats
- 12/09/07 10:44 AM
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 from last week's stats
Here are last week's stats.
Here is what we are looking at currently with foreclosure listings:
Listings (12/9/2007): 2175Under Contract (12/9/2007); 436Sold (11/1-30/2007): 207Month's Inventory: 10.5Listings since the last report (12/2/2007) have risen by 67 units. Pendings have risen by 59 units. That's a HUGE one week jump! … (11 comments)
|
las vegas foreclosures: All Eyes on Vegas: Las Vegas Foreclosures Pre-Auction Stats
- 12/02/07 05:04 AM
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 in conjunction with those auctions!
I am happy to report there are literally 1000s of people interested in the 600-ish properties that are on the auction block. I am even happier to report this has brought buyers into the market. I have a non-distressed listing priced well that generated 3 … (11 comments)
|
las vegas foreclosures: Las Vegas Buyers & Irrational Thought Processes!
- 11/28/07 12:50 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 ABUNDANCE of attention being drawn to them: yellow signs all over the city, agents letting their clients know, late night informercials about them, etc.
I am guessing these 600 properties will go close to their current list prices. Especially since Hudson & Marshall have opened online bidding and "pre-Auction" bids up. … (5 comments)
|
las vegas foreclosures: Economic Conditions for the Las Vegas Valley November 2007
- 11/27/07 10:06 AM
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% (excl condo conversions, highrises) New Home Sales (October 2007, median price): $298,056 Year Change -13.6% (excl condo conversions, highrises) Existing Home Sales (October 2007, units sold): 1529 Year Change -47.9% Existing Home Sales (October 2007, median price): $259,363 Year Change: -10.6% Single Family Residential Building Permits (October 2007):1734 Year Change … (2 comments)
|
las vegas foreclosures: Shmittens in Nevada: Up Markets Breed Fraud, Down Markets Breed Fraud
- 11/23/07 04:43 PM
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 mess. It started out to be "sh*t mittens" but we shortened it down to "shmittens" to clean it up so we could use the phrase in front of the younger crowd.
Shmittens suck because we normally don't realize it until it is too late. Several people usually get "schmittened" inadvertently by … (30 comments)
|
las vegas foreclosures: Las Vegas Bank Owned (REO) Listings Inventory Update: 9.5 Months Inventory
- 11/21/07 12:47 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: 9.5 Months InventoryMore is being done to deplete Las Vegas Bank Owned Listing Inventory. Three major auctions with 677 total bank owned foreclosure properties will be held in December:
Dec 2 @ Ritz Carlton in Lake Las Vegas: 332 Properties. Many of these homes are listed and pre-auction bids will be … (6 comments)
|
;)
;)
;)
