Las Vegas NV Sold Terms & Trends April 2010: Cash is Still the Front Runner!

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Las Vegas NV Area Sold Terms - Cash, FHA, VA, Conventional and Other Financing

Las Vegas NV Area Sold Terms - Cash, FHA, VA, Conventional and Other Financing

Las Vegas NV Area Sold Terms - Cash, FHA, VA, Conventional and Other Financing

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

 

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Rainmaker
1,331,888
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - I'm still jealous that you have so many cash buyer's.  I've only had one this year and thankfully it was for a traditional sale.

May 19, 2010 04:00 AM #1
Rainmaker
630,397
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Renee, that's great that you have so many cash buyers in Las Vegas!  I'll bet they are getting some nice deals.

May 19, 2010 04:11 AM #2
Rainmaker
222,557
Scott Baker
www.eHomeReports.com Coldwell Banker West Shell - Liberty Township, OH
Realtor Homes for Sale in Cincinnati, West Chester, Mason, OH Area

I understand cash is King, AND ALWAYS WILL BE, but I am amazed at the high percentage of transactions that you have in your area that are cash.

Thank you

May 19, 2010 04:18 AM #3
Rainmaker
325,771
Esko Kiuru
Bethesda, MD

Renee,

FHA has lost some ground in the past few months. Let's see where FHA stands in May's figures after the tax credit is gone.

 

May 21, 2010 08:27 AM #4
Ambassador
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Michelle:  I have had only two.  First time buyers are attracted to me :)

Maria:  Yes they are!

Scott:  It is pretty amazing how much cash is flying around here right now!

Esko:  Actually I will wait until the end of June.  August's numbers will be telling!

May 21, 2010 11:04 AM #5
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