Las Vegas NV Area Short Sale Real Estate Market Report & Homes for Sale Feb 2011 (includes Henderson & North Las Vegas)

By
Real Estate Broker/Owner with Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate B.1000860.LLC

Las Vegas Short Sales

Las Vegas Short Sales

Las Vegas Short Sale

The absorption rate for Las Vegas Valley Area Short Sales has swung from a stable market back to a buyer's market. Inventory has DECREASED by -307 units.  Under Contract has INCREASED by +324 units.    Sold units have DECREASED by -1 unit.

There are many reasons for the lack of closings in this market and it is outlined in this post

Short Sale Synopsis:

  • Listings 3/15/2011:  7421
  • Pending 3/15/2011: 7919
  • Closed February 2010: 850

Short Sales Currently Account for:

  • 51% of All Las Vegas Valley Listings
  • 26% of All Las Vegas Valley Sales 

Read here for last month's report on Las Vegas Area Short Sales.

Most Current Market Report For Short Sales

Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers

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®
 

 

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

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Las Vegas Foreclosures - Homes, High-Rises-Condos
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Show All Comments
Rainmaker
1,331,382
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - The amount of short sales for sale in my area is probably similar to yours this month, so many of my clients don't want to mess with them these days.

Apr 04, 2011 01:45 AM #1
Rainmaker
2,739,156
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Morning Renee....ahhh short sales....I wrote an offer on a BOA listingin October and we just got approval 2 wks ago and closed end of last week....

Apr 04, 2011 02:19 AM #2
Rainmaker
1,858,998
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

I am still mesmorized by the amount of short sales in your area. I have a lot of respect for you to conquer them.

Apr 04, 2011 02:19 AM #3
Rainmaker
1,858,998
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

I am still mesmorized by the amount of short sales in your area. I have a lot of respect for you to conquer them.

Apr 04, 2011 02:19 AM #4
Ambassador
1,503,826
Renée Donohue
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Thanks all for the comments!

Kristin:  BIG HUGE CONGRATS!

Apr 04, 2011 02:25 AM #5
Rainmaker
493,160
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures

That is a high percentage of shortsales in the market place, wow over 50% of listings.  We are not that high anymore but sure were for awhile there.  Now our prices are getting so low that cash buyers are willing to come out of hiding and buy some investments 

Apr 04, 2011 07:58 AM #6
Ambassador
597,152
Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

Renee, I am so impressed with the way you do things here. Every time I come in I think to myself, "I have got to get me some of this." Thanks for leading the way.

Apr 04, 2011 09:31 AM #7
Rainmaker
543,756
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Hey Renee, that's just way too many. People need to contact you, so you can help buy and sell them, getting them off the market!

Apr 04, 2011 09:50 AM #8
Ambassador
1,551,700
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Renee We have our fair share of short sales, but the numbers in your report are mind boggling

Apr 04, 2011 10:05 AM #9
Ambassador
1,503,826
Renée Donohue
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Thanks all for the comments!

Karen & Bob:  It is definitely interesting to see what is in each different marketplace!

Apr 04, 2011 10:12 AM #10
Rainer
106,822
Elizabeth Byrne
Keller Williams Realty - Arlington, VA
Arlington Virginia Real Estate

Renee, this is an astounding number of short sales. I didn't realize your market was saturated with them. I hope you have a chance to help some of the owners of short sales.

Apr 04, 2011 10:54 AM #11
Rainmaker
163,138
Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

Wow that is a lot of short sales! I think you might have us beat for San Diego County! I do know that 65% of all sales last year were short sales or foreclosures! Yikes! T

Apr 04, 2011 01:08 PM #12
Rainer
387,459
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

This is an excellent short sale report for the Las Vegas area Renee. I am going to head over now to read your piece on the reasons for lack of closings. Have a great evening.

Apr 04, 2011 02:47 PM #13
Rainmaker
1,316,820
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Oh No -- the "S" word!  I always tell buyers when I first meet with them that the first thing you need to know about short sales is that they are not short!  It will be interesting to see how many shortsales we will continue to see in the various states.

Apr 04, 2011 04:07 PM #14
Rainmaker
349,102
Larry Atkins
State Wide Realty Co. - Farmville, VA

Wow, that's a lot of short sales! Your post is as detailed and eye-catching as ever....keep it up!

Apr 05, 2011 06:22 AM #15
Rainmaker
153,203
John Cunningham
eXp Realty - Phoenix, AZ
Helping Phoenix Sellers and Buyers find each other

Thanks for the snapshot of the LV market Renee.

Apr 05, 2011 03:54 PM #16
Rainmaker
1,727,747
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Renee....Another really nice market report. I love the graphs....Nice post!
Hope you have a great day!---Rob

Apr 06, 2011 12:07 AM #17
Ambassador
1,503,826
Renée Donohue
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Thanks all for the comments!

Joan for some reason I am laughing at your use of "the 's' word"  Thanks for the chuckle!

Apr 09, 2011 05:35 AM #18
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