las vegas short sales: Las Vegas NV Area October 2009 Home Sales and Listings by Type
- 11/22/09 11:01 PM
Las Vegas Area November 15, 2009 Active Listings by Type
REO: 2243 (22%) Short Sale: 4475 (43%) All Other: 3675 (35%)
October 2009 Sales by Type:
REO: 2869 (66%) Short Sale: 688 (16%) Other: 7071 (18%) This is just a guide for consumers to see what types of properties are closing vs what is listed. Currently we have the most closes in the REO sector and the least inventory in the REO sector and it is an extreme seller's market.
Click here to see last month's Listing and Sales Type Report
Click here to view the most recent stats (scroll to bottom)
… (7 comments)
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las vegas short sales: Oh No! Not Another "Tax Credit Has Been Extended and Expanded" (for Las Vegas Real Estate) Blog Post!!!
- 11/17/09 01:34 PM
I made over 200 comments on blog posts this past weekend and there sure are a lot of these posts out here! I am shouting it from the rooftops - NOT TO WAIT THIS TIME. With the expiration of the last one looming to be in contract on Nov 1 and closed by Nov 30, 2009.............there was a LOT OF LAST MINUTE buying fury and anxiety.
Here's the good news: Listings have gone up around 200 units.
Here's the bad news: We still only have 2.4 months of inventory = Seller's market = inventory is super slim pickins. 6 months is … (14 comments)
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las vegas short sales: Las Vegas, NV Area Short Sale October 2009 Inventory Update
- 11/15/09 11:16 PM
The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 6.5 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-116 units). Pending units have increased by +179 units. Solds have increased by +96 units.
There are many reasons for the lack of closings in this market and it is outlined in this post.
Short Sale Synopsis:
Listings 11/15/2009: 4475 Pending 11/15/2009: 8738 Closed October 2009: 688 Month's Inventory: 6.5 Short Sales Currently Account for:
43% of All Las Vegas Valley Listings 16% of All … (8 comments)
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las vegas short sales: Economic Conditions for the Las Vegas Valley October 2009
- 11/06/09 12:17 AM
Economic Conditions for the Las Vegas Valley September 2009
Housing Conditions:
Foreclosure/Short Sale Listings (10/15/2009): Total Listings 10371; Short Sales: 4591, 44% of all listings; Bank Owned Listings: 2144, 21% of all listings. Short sale and REO listings consume 65% of total listings New Home Sales (September 2009, units sold): 422 Year Change -53.4% (excl condo conversions, highrises) New Home Sales (September 2009, median price): $208,240 Year Change -16.5% (excl condo conversions, highrises) Existing Home Sales (September 2009, units sold): 4168 Year Change +31.9% Existing Home Sales (September 2009, median price): $125,250 Year Change: -33.7% New Home Permits (September 2009): 396 Year Change -14.1% … (10 comments)
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las vegas short sales: BREAKING NEWS- Tax Credit Will Be Renewed
- 10/28/09 10:53 AM
For my buyers held up in short sales, there's hope. Cross your fingers that it passes!
Harry Reid's office just confirmed these details:1) Sen Isakson, Dodd, Lieberman have agreed, and Senate Finance [Baucus and tax staff] have agreed to this credit extension and expansion:2) For first time homebuyers, the income level to qualify is $ 75,000/150,0003) For step up buyers the income level to qualify is $ 125,000/250,0004) For step up buyers, they must have been residing in their primary residence for 5 years5) The credit is 10% of the sales price, with a maximum of $ 7290.6) The credit runs from Dec. 1, 2009 … (0 comments)
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las vegas short sales: Mountain's Edge September 2009 Real Estate Resale Market Report (Homes For Sale/Pending/Sold)
- 10/28/09 12:33 AM
Mountain's Edge September 2009 Real Estate Resale Market Report:
Listings (10/15/2009): 159 Under Contract (10/15/2009): 357 Sold September 2009: 84 Month's Inventory: 1.8 Since Last Month: Listings are DOWN -17, Pendings are DOWN -2, Sales are UP +21
Last Month's Mountain's Edge Real Estate Market Report
Mountain's Edge is a newer community so many of the listings are short sales or bank owned.
… (3 comments)
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las vegas short sales: Las Vegas Condo For Sale *NEAR STRIP*!
- 10/26/09 12:48 AM
Condo Near Las Vegas Strip!Location: Meridian at Hughes Center1 Bedroom Condo For Sale Near Las Vegas Strip! Community Amenities Galore! View Community Virtual Tour: http://www.realestateshows.com/443397FeaturesBedrooms: 1Bathrooms: 1Year Built: 1992Subdivision: Meridian at Hughes CenterLocated on Floor #: 3Floors in Bldg: 5School District: CCSDSquare Footage: 727Agent Name: Renee BurrowsBroker: Encore Realty GroupMLS #: 985668InformationContact InformationRenee Burrows702-966-2494Contact Reply FormForward to a FriendView Other FlyersPricingPrice: $65,000Additional Pricing Information: Short Sale, Price & Terms Subject to Third Party Lienholder ApprovalHomeowner Dues: 350Property Location230 E Flamingo 316Las Vegas, NV 89169View MapAttributesAppliancesRange/OvenDishwasherSink DisposalMicrowaveBuilding AmenitiesFenced YardSwimming PoolHot TubGuest ParkingBasketball CourtExercise RoomRecreation CenterPowered by vFlyer.com EQUAL HOUSING OPPORTUNITYVFLYER ID: 2908744 … (6 comments)
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las vegas short sales: Las Vegas NV Area September 2009 Home Sales and Listings by Type
- 10/25/09 01:08 PM
Las Vegas Area October 15, 2009 Active Listings by Type
REO: 2144 (21%) Short Sale: 4591 (44%) All Other: 3636 (35%)
September 2009 Sales by Type:
REO: 2869 (69%) Short Sale: 592 (14%) Other: 707 (17%) This is just a guide for consumers to see what types of properties are closing vs what is listed. Currently we have the most closes in the REO sector and the least inventory in the REO sector and it is an extreme seller's market.
Click here to see last month's Listing and Sales Type Report
Click here to view the most recent stats (scroll to bottom)
… (2 comments)
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las vegas short sales: Attention Las Vegas Area REIT and Bulk Owners: Las Vegas Needs Some *SELLABLE* Inventory!
- 10/20/09 01:18 PM
If you are an REIT (Real Estate Investment Trust) or bought bulk real estate owned properties and you find they are underperforming in the stagnating rental market, this is a must read!
As you can see a large percentage of Las Vegas listings are short sales:
Short Sales Take Forever to Close (if they close:)
LAS VEGAS IS IN DIRE NEED OF SELLABLE INVENTORY!
I am offering up for decision makers and asset managers to pick out up to 20 of their worst performing rental properties and I will give FREE CMAs (Comparative Market Analysis) for both current rental … (0 comments)
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las vegas short sales: Las Vegas, NV Area Short Sale September 2009 Inventory Update
- 10/18/09 11:47 PM
The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 7.8 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-127 units). Pending units have increased by +539 units. Solds have increased by +101 units. Absorption down by 1.8 months
There are many reasons for the lack of closings in this market and it is outlined in this post.
Short Sale Synopsis:
Listings 10/15/2009: 4591 Pending 10/15/2009: 8559 Closed September 2009: 592 Month's Inventory: 7.8 Short Sales Currently Account for:
44% of All Las Vegas Valley Listings … (5 comments)
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las vegas short sales: Summerlin Pool Home For Sale!
- 10/16/09 08:41 AM
Summerlin Pool HomeLocation: Canyon Oaks (Summerlin)Spiral Staircase, Built in Murphy Bed in Secondary Room, Tile Floors, Two Tone Paint, Granite Countertops, Plantation Shutters, Intercom, Surround Sound, 3 (count em, THREE!) Fireplaces. Private Backyard Oasis Features: Pool, Spa, mature Landscaping and Built In BBQ. For more pictures/virtual tour go to: www.ReneeBurrows.com/2020InformationContact Information Renee Burrows702-966-2494Contact Reply FormForward to a FriendView Other FlyersPricingPrice: $376,000.00Additional Pricing Information: Short Sale, price and terms subject to third party lienholder approvalProperty Location2020 Aspen OakLas Vegas, NV 89148View MapLinksMore Info on This HomeFeaturesBedrooms: 4Bathrooms: 3Year Built: 1998Subdivision: Canyon Oaks (Summerlin)Lot Size: 6904Garage Size: 3School District: CCSDSquare Footage: 3176Agent Name: … (5 comments)
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las vegas short sales: Welcome Home To Near-Strip Las Vegas Communities: Meridian Condos
- 10/09/09 11:43 AM
Meridian Condominiums is a guard gated community located less than a mile from the world famous "Las Vegas Strip"!
Just Minutes from the Las Vegas Strip: The Meridian is close to world class Dining, Shopping, Entertainment, Night Life and FUN. It is also close to UNLV.
Amenities include a Clubhouse, Gym, Pool, Spa, 24 Hour Security.
There are exactly 682 condo homes w/ underground garage parking & balconies (or patios) in this neighborhood ranging from studios with 530 square feet to 2 penthouses with 1948 square feet. Meridian Condos were built in 1992 as apartments and converted to condominiums in 2005 so short sale and REO bargains are hard … (6 comments)
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las vegas short sales: Did Las Vegas Area First Time Home Buyers Miss Out on the Tax Credit?
- 10/07/09 10:49 AM
Probably is a nice & safe answer.
It IS possible but not highly probable. We live in a sity of gambling, risks and bets
Right now it is taking a good 45-60 days to close on a financed home in the Las Vegas Area. The guidelines for first time buyers that are eligible for the tax credit is that they have to be IN CONTRACT by November 1 and CLOSE by November 30.
Both of these timelines are issues at this point if you are still searching for a home or just beginning your search.
Inventory situation is DIRE. There is only … (46 comments)
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las vegas short sales: Short Sales and Foreclosures in Orange County, CA
- 10/07/09 07:50 AM
Very pertinent info for our market!
Short Sales and Foreclosures in Orange County, CA
Perhaps you've heard the latest buzz words: "loan modification," "short sale," "Obama's plan," and you want to know if they apply to you.
We know what your options are when you owe more on your home than it's worth and don't know what to do
Over 12% of people are not making their mortgage payments.
6 in 10 Orange County homes purchased in 2006 are upside down, meaning they owe more on their home loan than their house is worth*.
In 2007, the numbers drop … (0 comments)
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las vegas short sales: Economic Conditions for the Las Vegas Valley September 2009
- 10/04/09 06:27 AM
Economic Conditions for the Las Vegas Valley August 2009
Housing Conditions:
Foreclosure/Short Sale Listings (9/15/2009): Total Listings 11018; Short Sales: 4718, 43% of all listings; Bank Owned Listings: 2379, 22% of all listings. Short sale and REO listings consume 65% of total listings New Home Sales (August 2009, units sold): 396 Year Change -47.8% (excl condo conversions, highrises) New Home Sales (August 2009, median price): $206,123 Year Change -18% (excl condo conversions, highrises) Existing Home Sales (August 2009, units sold): 3833 Year Change +25.6% Existing Home Sales (August 2009, median price): $122,000 Year Change: -39% New Home Permits (August 2009): 413 Year Change -17.6% … (3 comments)
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las vegas short sales: Why Las Vegas Homeowners Should Care About Things That Go "Bump in the Night"?
- 09/27/09 07:07 AM
To prevent loss of value on their OWN home.
And why should renters care? Maybe if they are buying or considering buying a home across town or in their own area, they should care if they are going to use financing to purchase their home.
Here is what is going on: stuff is getting stolen that prevents financing of a home. I am not talking refrigerators or little appliances or a ceiling fan here or there. I am talking about pool pumps and air conditioners and water heaters ~ even entire large above ground spas.
It always seems to me that … (11 comments)
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las vegas short sales: WHY Las Vegas Pendings Aren't Closing
- 09/25/09 09:54 AM
I have had a good number of astute real estate professionals recently ask me "why aren't your pendings closing?" on my market reports!
Here is just a peek at some market reports for one specific area (June, July and August Respectively):
What you are seeing here is that the Pendings (red) has been gaining ground and the Sales have been slowing down (green). This doesn't make sense with rising pendings, you should see rising closings.
There several very good reasons and I am here to explain why this is going on.
When I got my license here in 2005 our … (58 comments)
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las vegas short sales: Las Vegas NV Area August 2009 Home Sales and Listings by Type
- 09/22/09 06:59 AM
Las Vegas Area September 15, 2009 Active Listings by Type
REO: 2379 (22%) Short Sale: 4718 (43%) All Other: 3921 (35%)
August 2009 Sales by Type:
REO: 2874 (72%) Short Sale: 491 (12%) Other: 627 (16%) This is just a guide for consumers to see what types of properties are closing vs what is listed. Currently we have the most closes in the REO sector and the least inventory in the REO sector and it is an extreme seller's market.
Click here to see last month's Listing and Sales Type Report
Click here to view the most recent stats (scroll to bottom)
… (7 comments)
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las vegas short sales: Las Vegas, NV Area August 2009 Pendings Report: Inventory Still Going Down, Pendings Still Going UP!
- 09/17/09 10:31 AM
The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for August 2009 is a seller's market @ 2.8 months of inventory (slight rise from last month, seeing some micros inch up with inventory!) Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm!
Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)
Listings (9/15/2009): 11018 (FOLKS THIS NUMBER DROPPED BELOW 11000 SINCE I PULLED STATS!) Under Contract (9/15/2009): 14577 Sold August 2009: 3992 Month's Inventory: 2.8 Short Sales:
43% of Listings 12% … (7 comments)
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las vegas short sales: Mountain's Edge August 2009 Real Estate Resale Market Report (Homes For Sale/Pending/Sold)
- 09/15/09 11:53 PM
Mountain's Edge August 2009 Real Estate Resale Market Report:
Listings (8/152009): 176 Under Contract (8/15/2009): 359 Sold July 2009: 63 Month's Inventory: 2.8 Since Last Month: Listings are DOWN -6, Pendings are UP +2-, Sales are DOWN -16
Last Month's Mountain's Edge Real Estate Market Report
Mountain's Edge is a newer community so many of the listings are short sales or bank owned.
… (9 comments)
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