Las Vegas NV Area Sold Terms & Trends for September 2009: GO CASH GO!

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Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas NV Real Estate

Las Vegas NV Real Estate

Las Vegas NV Real Estate

Las Vegas Area Sold Terms - Cash, Conventional, FHA, VA, OTHER!

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.  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!!

PS TOOK A SNEAK PEEK into August's numbers yesterday (official reporting not done until approx Monday the 7th) and large CASH CLOSE PERCENTAGE INCREASE EXPECTED!

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

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Kimberly Dearth 10/09/2009 01:04 PM
Topic:
Real Estate Market Trends
Location:
Nevada Clark County North Las Vegas Autumn Chase
Groups:
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Rainer
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Debbie Aldrich
The Watts Group Real Estate - Cottonwood Heights, UT
Salt Lake City Realtor - Salt Lake County, Cottonwood Heights

Your graphs get slicker and slicker, love those cash buyers.

Oct 09, 2009 11:12 AM #1
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Debbie:  I love the cash buyers too!

Oct 16, 2009 11:51 AM #2
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