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It’s Still a Great Time to Buy A Las Vegas Home
Times are tough, especially in the housing market.  However, if you are in the market to buy a home or investment property, now is the time to take advantage of the low Las Vegas home prices and deals that you can get on foreclosures and short sales.
While foreclosure sales this spring accounted for one third of all homes sold, Nevada foreclosure sales accounted for a whopping two thirds of all real estate transactions – that’s two out of three houses in foreclosure.  These foreclosed homes sold for an average of 21 percent less than the prices that typical homes sold.
Home prices have continued to decline in Las Vegas into the summer as well. In July, SalesTraq reported that real estate-owned sales had a median price of $97,050 and short sales had a median price of $117,500.
RealtyTrac reported that bank-owned homes sold for 40 percent less than the average price of homes; up from 36 percent from the previous quarter and 34 percent from the same quarter one year ago.
This means lower home prices and more negotiating power to you when buying a home. 
When looking at short sales homes, foreclosures or bank owned homes, be ... more

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