Las Vegas NV Area May 2010 REO Inventory Update

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

Las Vegas REO Homes for Sale

Las Vegas Area REO Real Estate Market Report

Las Vegas Area REO Inventory has RISEN since last report (+367 units), Under Contracts have RISEN (+38) units  Closing data has FALLEN (-162) units.  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 42% of all Las Vegas Area Valley resale closings in May 2010.  REO listings account for only 20% of total resale listings.

Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.

Current Listed Bank Owned Statistics:

  • Listings (6/15/2010):2146
  • Under Contract (6/15/2010): 2787
  • Sold May 2010:  1464

View Last Month's Report Here  

To find the most recent report, click here

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

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Topic:
Real Estate Market Trends
Location:
Nevada Clark County Henderson Eastbridge Gardens
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 foreclosures
las vegas nv real estate
las vegas reo

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Rainmaker
961,891
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Shack Diva, are you sure you're not making this stuff up?  Impressed, as always! 

Jun 16, 2010 06:04 AM #1
Rainmaker
1,893,057
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

I always love to look at your market reports; especially the graphics

Jun 16, 2010 02:33 PM #2
Rainmaker
325,771
Esko Kiuru
Bethesda, MD

Renee,

REO sales still have 42% of the market despite short sales making a move.

Jun 16, 2010 03:05 PM #3
Rainmaker
682,786
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Renee:  So 80 percent of the listings are either Short Sale or Standard Sale listings.   I would assume that most are Short Sale Listings.

Jun 16, 2010 03:15 PM #4
Ambassador
1,507,202
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Kevin:  I couldn't make this stuff up if I tried ;)

Tom:  Thanks :)

Esko:  YUP it is down quite a bit!

Jane:  Most are short sale listings!

Jun 17, 2010 02:02 AM #5
Rainmaker
179,961
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Renee, the amount of pending reo's for this chart is amazing.  

Jun 17, 2010 03:17 PM #6
Ambassador
1,507,202
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Heather:  Yes ma'am.  Very popular sale type!

Jul 23, 2010 04:43 AM #7
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