Las Vegas NV Area Sold Terms & Trends January 2011 (includes Henderson & North Las Vegas)

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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 101-606 (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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Comments (7)

Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

You are the numbers Queen Renee. Anyone who needs to know what's happening in the Las Vegas area Real Estate market needs to call the expert..... YOU!

Mar 03, 2011 01:42 AM
Kristin Johnston - REALTOR®
RE/MAX Realty Center 262-567-2455 - Waukesha, WI
Giving Back With Each Home Sold!

I agree with everything my buddy Craig above me states...well done Craig and well done Renee!!!

Mar 03, 2011 01:43 AM
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

Another great market update/report.  Cash is king here as well with the low prices many have now been using their cash to buy some real estate.

Mar 03, 2011 01:59 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Renee,

Your commentary is well spoken. Cash buyers are being rewarded well in this market. 

Steve

Mar 03, 2011 03:01 AM
Tom Waite
Thomas Waite Real Estate Broker - Cypress, CA
So Cal-Apartment Bldg Investments

Renee:  Excellent commentary and information about how to buy in Vegas.

This is the info I would want if I were moving to your city.

Keep on blogging.

Tom

Mar 03, 2011 06:46 AM
Esko Kiuru
Bethesda, MD

Renee,

Cash buyer usually means an investor, so they are still dominating the market. They have done that for the last two-three years, so there are lots of rental properties across the valley, I gather.

Mar 11, 2011 02:14 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thanks all for the comments!

Esko:  YES!  Lots of rentals and it is hurting rental values too.  They are renting well still but just at lower prices!

Apr 01, 2011 07:39 AM