Las Vegas NV Area April 2010 Home Sale & Listings by Type

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

Las Vegas Area Homes for Sale

Las Vegas Area Homes for Sale

Las Vegas Area Homes For Sale

Las Vegas Area May 15, 2010 Active Listings by Type

  • REO:  1348 (19%)
  • Short Sale:  4323 (43%)
  • All Other:  3709 (38%)

Las Vegas Area Homes for Sale

April 2010 Sales by Type:

  • REO:  2010 (45%)
  • Short Sale:  970 (27%)
  • Other:  853 (28%)

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)

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

 

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Topic:
Real Estate Market Trends
Location:
Nevada Clark County Las Vegas Desert Shores Villas
Groups:
Market Updates
Nevada/Las Vegas REO, Fourclosure, Short Sale Specialist
City and State
Las Vegas Foreclosures - Homes, High-Rises-Condos
Market Reports
Tags:
las vegas listings
las vegas homes for sale
las vegas short sales
las vegas foreclosures
las vegas nv real estate
las vegas reo

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Rainmaker
671,544
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

Renee - no, I'm not a blog stalker, I keep coming back to see your graphs!  There was a front page article (The Press Democrat, Santa Rosa) about new construction in LV this morning.  It's amazing how much new construction is going on there when there are already thousands of vacant homes.

May 16, 2010 09:34 AM #1
Rainer
110,833
Charlottesville Choice Homes
Keller Williams Realty - Charlottesville, VA

Your charts and presentations are so clean and great.  You are a tribute to the industry and your buyers and sellers are lucky to have you.

May 16, 2010 12:00 PM #2
Rainmaker
682,786
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Renee:  Your graphs are so eye catching!  Most graphs are so boring ~ but not yours!

May 16, 2010 01:26 PM #3
Rainmaker
506,826
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Are REO listings moving fairly well? With the need for homes in your area, REO would seem more likely to settle than short sales. Is that a correct assumption or not?

Cal

May 16, 2010 02:07 PM #4
Rainer
80,857
Patrick Harfst
United Brokers Group - Gilbert AZ - Gilbert, AZ

Great graphs! It seems that Vegas & PHX are flying in formation, stat-wise...

May 16, 2010 06:53 PM #5
Rainmaker
125,931
David Dee
IRN REALTY - Alhambra, CA
Real Estate - San Gabriel Valley (L.A.) & N. Orange County CA

Renee, that's a huge proportion of short sales under contract! Looks like the market is great in LV.

May 16, 2010 07:31 PM #6
Rainer
57,776
John Marion
RE/MAX Town & Country - Canton, GA

I like your graphs, Renee. Great job!

May 16, 2010 09:36 PM #7
Ambassador
1,506,476
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Cynthia:  New construction did start chugging along!!  We are having severe inventory shortages (may I emphasize the word severe enough?)  We need over 10K units on the market to turn this back into a seller's market.  We are seeing rises in inventory since the expiration of the tax credit but at this pace it will take us 5 months to recover all of the inventory.

Sarasota Choice Homes:  Thanks!

Jane:  Thanks!

Cal:  Very correct assumption!  Unfortunately there is only 1 month (ish) of REO inventory on our market.  We are seeing slight rises of REO inventory which is good for buyers who really want to buy.

Patrick:  I just hope we can cycle through all of this sooner than later and move to a more standard market!

David:  That is a huge proportion!  Let's get some of these closed!

John:  Thanks!

May 17, 2010 02:04 AM #8
Rainmaker
325,771
Esko Kiuru
Bethesda, MD

Renee,

REOs and short sales account for 72% of solds and many in Vegas are waiting for that figure to drop down to 50%, as an interim goal.

May 17, 2010 11:39 AM #9
Rainmaker
1,883,547
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

Amazing how many REO transactions there are; in my market I might do a short sale or REO out of every 20 transactions I do; maybe 7 or 8 a year.

May 17, 2010 03:56 PM #10
Ambassador
1,506,476
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Esko:  I like your goals.  At least it is a reasonable goal :)

Tom:  Standard non flip transactions are the rare ones here!

May 18, 2010 09:16 AM #11
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