North Las Vegas | Henderson | Las Vegas NV July 2010 REO Inventory Report

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

Las Vegas Area REO Homes for Sale

Las Vegas Area REO Real Estate Market Report

Las Vegas Area REO Inventory has RISEN since last report (+262 units), Under Contracts have RISEN (+85) units  Closing data has FALLEN (-35) units.  Low interest rates have spurred a flurry of buyer interest & activity  and it continues.  

REO sales accounted for 44% of all Las Vegas Area Valley resale closings in July 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 (8/15/2010):  2738
  • Under Contract (8/15/2010): 2675
  • Sold July 2010:  1590

View Last Month's Report Here  

For Most Current Las Vegas REO Inventory Market Report.

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-605 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

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

 

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Rainmaker
962,022
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Way to knock down those REO's, can't wait for next month's report.

Aug 16, 2010 07:14 AM #1
Ambassador
698,098
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Great visual market report Renee!  You have such great charts on your reports and so easy to follow!Your absorption rate is fabulous!  

Aug 16, 2010 07:24 AM #2
Rainmaker
782,546
Susan Laxson CRS
HomeSmart Professionals - La Quinta, CA
Local Knowledge & Global Network

Renee, wonderful visuals and excellent stats!  Keep those buyers coming!  ~ Susan

Aug 16, 2010 07:42 AM #3
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

Renee, the pie is almost cut into thirds. What a market! I am sure the buyers and sellers of Vegas love your stats and market updates. Keep the good information rolling.

Aug 16, 2010 07:50 AM #4
Ambassador
1,552,806
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Renee  Each time I read your reports I am amazed, no, impressed with your professionalism in putting the graphics together.  You are the area "go to" person

Aug 16, 2010 11:04 AM #5
Rainmaker
232,679
Ken Barker Realtor® GRI, E-Pro Certified
Dilbeck Real Estate - Burbank, CA

Renee - Yadayadayada.. I sound like a broken record when I say "I love what you do with your graphs". Sometime I plan on emulating your style but I have never done a market report. I have labeled it like I see other AR's do but not pie or any other charting. I know for you it is easy. What a great tool and I cannot believe that you have over 2700 REO's. Good for you but that is sad.

Aug 16, 2010 11:35 AM #6
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

It looks like there is an increase in stability and listings and sales are on the rise. This shows growth; am I corrrect?

Aug 16, 2010 12:00 PM #7
Rainer
170,723
Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

Hi Renee, I recently subscribed to your blog and am looking forward to seeing what is up with you! That picture of you is great! Tiffany

Aug 16, 2010 01:01 PM #8
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1,507,202
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thanks for all the comments!

Tom you are correct, extreme seller's market in the REO sector

Tiffany:  THANKS DOLL!

Ken:  LMAO!

Karen:  Thanks :)

Scott:  I am the Las Vegas Market Report energizer bunny!

Susan:  THanks!

Kevin:  It's all the same :-/

Lee & Pamela:  The absorption rate in the REO sector makes it very competitive for buyers!

Sep 17, 2010 12:27 PM #9
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