Las Vegas NV Area Short Sale Real Estate Market Report & Homes for Sale April 2011

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Services for Real Estate Pros with Savvy Home Pix 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 -384 units.  Under Contract has INCREASED by +103 units.    Sold units have DECREASED by -105 units.

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

Short Sale Synopsis:

  • Listings 5/15/2011:  6660
  • Pending 5/15/2011: 8225
  • Closed April 2011: 900

Short Sales Currently Account for:

  • 47% of All Las Vegas Valley Listings
  • 24% 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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Rainmaker
915,187
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Renee - Short sales have always been a buyers market here, because everybody gets tired of waiting on the banks to do something with an offer. The buyers in Las Vegas should be greatful that you stay on top of this, because short sales are a lot of work.

May 20, 2011 03:07 AM #1
Rainmaker
517,886
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures

I wonder what the statistic is for how many buyers does it take to close a shortsale?  I bet there are many cases where the numbers get pretty high

May 20, 2011 04:58 AM #2
Rainmaker
820,740
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Renee, do you have any statistics on how many of these short sale which go to contract actually close?  I've been trying to search my MLS using key words, but there's really not much help, at least I haven't been able to find them. 

May 20, 2011 10:28 AM #3
Rainmaker
544,156
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Renee, are the short sales in Vegas coming back down to earth yet?

May 20, 2011 12:37 PM #4
Ambassador
1,507,202
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Juli I estimate 1 in 20!

Eric:  not really but it is mostly sellers and what terms they would accept!

May 22, 2011 10:53 AM #5
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