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

By
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.

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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

Blog Disclaimer Important Notice

Realtor/MLS Member, NAR, NVAR, GLVARAccredited Buyer's RepresentativeSeller Representative SpecialistSenior Real Estate SpecialistAt Home with DiversityResort & Second Home Property SpecialistShort Sale Foreclosure Resource

 

 

 

Sell Las Vegas Home          Las Vegas Homes for Sale     Las Vegas Rental House

              

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Nevada Clark County North Las Vegas Nellis
Groups:
Market Updates
Nevada/Las Vegas REO, Fourclosure, Short Sale Specialist
City and State
Las Vegas Foreclosures - Homes, High-Rises-Condos
Market Reports
Tags:
las vegas market report
las vegas nv real estate
las vegas reo

Spam prevention
Show All Comments
Rainmaker
921,539
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Renee - Cash still seems to be winning the battles in Las Vegas real estate, and unless the regulations on Mortgages change, I don't see anything changing in the near future. Hopefully our next administation will remove some of the dumb restrictions and requirements for loans. With 280,000 government workers now writing regulations, I expect things to get worse before they get better.

Jan 13, 2012 03:33 AM #1
Rainmaker
1,101,276
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Nice market report Renee, looks like cash is still king in Las Vegas real estate.

Jan 13, 2012 10:43 AM #2
Rainmaker
820,770
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Renee, cash buyers ARE ruling in some markets, particularly the lower end markets, as your graphs demonstrate.  Is that a high investor concentration in your Las Vegas real estate market or is that a lot of second homeowners?  I sure wish we had a way of tracking THAT statistic as I think it would be interesting. 

Jan 13, 2012 11:23 AM #3
Rainmaker
1,928,220
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

It always amazes me how truly strong cash is in your market and others.

Jan 13, 2012 12:36 PM #4
Rainer
387,459
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Renee - Great information on the breakdown of cash versus the various types of financing available for numerous price ranges.

Jan 13, 2012 01:27 PM #5
Ambassador
429,035
Rich Cederberg
eXp Realty - Albuquerque, NM
eXp Realty Agent Albuquerque

Those are some interesting statistics.  I was not expecting cash to be so much higher than everything else.  Great idea for a report. 

Jan 13, 2012 03:34 PM #6
Rainmaker
507,032
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Renee, you still make some of the best charts I see. I love the black with the variety of colors. There is always something more to learn in this blogging world. Thanks so much for faithfully sharing about your market. Hope life is well!

Cal

Jan 14, 2012 01:33 AM #7
Ambassador
1,509,742
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thank you everyone for your comments!

Juli - that would be VERY interesting.  I would say half of the cash number is investors and the other half is either owner occupants or second homeowners!

Jan 14, 2012 11:05 AM #8
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
1,509,742

Renée Donohue~Home Photography

Western Michigan Real Estate Photographer
How May I Assist You With Your Las Vegas Real Estate Needs?
*
*
*
*
Spam prevention

Additional Information