Las Vegas NV Area Sold Terms & Trends December 2011 (includes Henderson & North Las Vegas)

By
Real Estate Broker/Owner with Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate B.1000860.LLC

las vegas area homes for sale

Las Vegas Area Homes for Sale

Cash REMAINS KING in the Las Vegas Area Real Estate Market!!! It is important for every buyer in the Las Vegas Area Real Estate Market to understand who their buyer competition is in this currently competitive seller's market LV is enjoying! It is important to understand how a seller looks at each financing type:

Cash Offers: Generally have less contingencies and quicker close times. A cash offer may be accepted even if it is lower than a financed offer.

Conventional Financing: Less strict with lender required repairs but larger down payments and more strict credit guidelines.

FHA/VA Financing: Requires more scrutiny with lender required repairs via appraisal. In general these take longer to underwrite and close so a cash or conventional offer looks more enticing to the seller. FHA Requires the deed to be seasoned for several months so some flips bought at trustee's sales are generally out as options when competing with multiple offers!

Other: Less common and creative financing types such as Lease Options, OWC (Owner Will Carry), etc. The "other" category INCLUDES auction terms!!

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What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

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Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Florida Tolbert Team Keller Williams Advantage
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Cash has the same impact here.  Although the banks are getting smarter and paying cash doesn't allow you to steal the home.

But keep in mind we still have several 'hoods' like condos that you cannot get financing for so if's it not for cash, they just don't sell at all.

Feb 03, 2012 02:21 PM #1
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Sharon Paxson
Arbor Real Estate - Newport Beach, CA
Newport Beach Real Estate - Arbor Real Estate

Hi Renee - that is a big percentage of cash buyers in your area. I think the buyers now recognize it is a fantastic time to buy!

Feb 03, 2012 02:29 PM #2
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Renée Donohue
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Thank you Sharon & Kevin for the comments!

Feb 27, 2012 10:01 PM #3
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