Ca$h or Credit: Las Vegas NV Area REO Financing Profiles for July 2011 (includes Henderson & North Las Vegas)

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

REO Financing Profile for Las Vegas Area

REO Financing Profile for Las Vegas Area

Cash is the obvious dominator with overall Las Vegas Area REO Purchases. Cash not only dominates but CRUSHES financed purchases under $75000. The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing.

Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.)

Condo financing is currently a challenge in the Las Vegas Area. Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community. To determine if a condo is eligible for financing, a condo certification may be ordered from the HOA (this does cost money) and have it run by an underwriter.

Whether you are all cash or a financed buyer, you can search Las Vegas Area (Henderson & North Las Vegas too) homes right here for free and no obligation!

View other REO Stats for the Las Vegas Valley!

Last Month's Las Vegas Area REO Financing Profile Report

Learn More About Buying Las Vegas REO

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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Rainmaker
1,331,888
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - This is one of my favorite market reports that you do.  People are often shocked when they see cash buyers in ALL price ranges, most assume it's only under $100K.

Sep 13, 2011 03:16 PM #1
Rainmaker
641,596
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Wow Renee, I can't believe how many people are buying with cash there.  Just goes to show you a lot of people still have money and it's a good thing!

Sep 13, 2011 03:47 PM #2
Rainmaker
1,317,376
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Renee -- It looks like despite the economy there are still a lot of folks with a lot of CASH!.. Hope your market is showing signs of recovery.

Sep 13, 2011 03:57 PM #3
Ambassador
551,497
Donna Bigda
RE/MAX Alliance - Branford, CT
Greater New Haven CT Real Estate

Renee - There is no doubt that cash is king for Las Vegas REO purchases.  I just love all the colorful graphs and details you provide in your market reports. 

Sep 13, 2011 04:02 PM #4
Rainmaker
2,253,611
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Completely the opposite to my area...credit is definitely king here.  Excellent market report Renee.

 

Sep 13, 2011 10:35 PM #5
Rainmaker
370,582
Surprise Arizona Realtor Jim Braun Sun City Grand Active Adult Communities
Coldwell Banker Residential Brokerage Jim Braun Sun City Grand Az - Surprise, AZ
Surprise AZ real estate Phoenix West Valley

Looks like the Investors are scarfing them up in Vegas as they are here in Phoenix. I really like your market report.

Sep 14, 2011 01:41 AM #6
Rainmaker
915,187
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Renee - Investors see the potential of real estate in the near future, and the odds of losing money at this low levels are not likely. Cash is still a powerful tool.

Sep 14, 2011 02:49 PM #7
Ambassador
1,507,152
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thank you everyone for the comments!

Oct 08, 2011 06:16 AM #8
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Renée Donohue~Home Photography

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