Las Vegas, NV Area September 2010 Sold Terms and Trends (includes North Las Vegas & Henderson)

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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

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!!

Last Month's Report

Most Current Las Vegas Sold Terms and Trends 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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Show All Comments
Rainer
104,817
Debbie Aldrich
The Watts Group Real Estate - Cottonwood Heights, UT
Salt Lake City Realtor - Salt Lake County, Cottonwood Heights

Renee, Boy do we love cash!!!  Cash buyers are the best, I have one looking today at one of my properties!  :)  I hope many of those buyers are yours!

Oct 27, 2010 05:45 AM #1
Rainmaker
333,694
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Renee, wow, you have lots of cash buyers in your market!

Oct 27, 2010 05:56 AM #2
Rainmaker
922,994
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Renee- I expect to see more cash buyers in your area when they case out of the stock market in December to avoid the higher tax rates next year. Great looking charts.

Oct 27, 2010 08:18 AM #3
Rainmaker
1,931,527
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

Cash is king; and it loks like it is still big time king in your area.

Oct 27, 2010 10:50 AM #4
Rainmaker
564,285
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Renee,

The market will always find a solution for the lack of ready institutional loans. I am surprised by the large cash solution in your market. It certainly speaks highly of investor faith in your area.

Steve

Oct 27, 2010 01:13 PM #5
Rainmaker
1,334,448
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - I think cash will remain King for a very long time in the Las Vegas NV real estate market.

Oct 27, 2010 03:09 PM #6
Rainmaker
156,820
John Cunningham
eXp Realty - Phoenix, AZ
Helping Phoenix Sellers and Buyers find each other

I've never ran a report in Phoenix to show the percentages of different types of buyers as you have here. I don't suppose that you have ever written a tutorial on how to produce that column graph..........

Oct 27, 2010 05:30 PM #7
Rainer
163,254
Ryan Case
SCA Real Estate - Anaheim, CA
877-828-0710

Wow, lots of cash buyers in your market! Must be nice, most of what we see is FHA/VA out here :) Probably because the prices are a lot higher ;)

Oct 27, 2010 06:24 PM #8
Ambassador
1,510,157
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Debbie:  Cash is the best, we generally only have to worry about the inspection coming in alright and sellers performing!

Rita:  Yes, that we do!

Larry:  We shall see!

Tom:  True!

Steve:  Yes, we are seeing a dilution in rental rates due to so many long term investors in our market!

Michelle:  I am with you!

John:  Same as a pie graph, just click on column - not too different in excel!

Tom:  Could be!

Oct 28, 2010 02:45 AM #9
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