Las Vegas Banks and Short Sales – New Best Friends?

By
Real Estate Agent with The Wilk-DeShaw Group

 

There was a time that short sales in Las Vegas were rare but that time is long gone. Did you know there are actually more short sales today than foreclosed homes that have actually been resold?

 

Well, Las Vegas banks are definitely aware of this statistic and as a result the number of short sales is expected to increase in the future. One of the reasons is that it is better for banks and lenders to accept less money now than to foreclose on a home and keep it in their portfolio for years. Some Las Vegas banks are now offering cash incentives to distressed homeowners to execute the short sale of their home; better for the bank and often better for the homeowner as well.   

 

In the end I suspect that short sales are actually good for the housing market and the sellers. It seems to me that lower financial losses for the banks and less damaged credit records for the seller equals new home buyers in the near future and a much healthier economy for Las Vegas as well as the entire state of Nevada. 

 

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Contact us to receive a Market Snapshot of your area of interest in Southern Nevada. Think of the Wilk-DeShaw Group when you or anyone you know is considering buying a home, selling a home, or investing in real estate in Nevada, Arizona, California, or Utah. Residential, Luxury, Commercial, Leasing, Property Management.

Attorney assisted Short Sales with no out of pocket to the Seller!

Daryl B. DeShaw
Wilk-DeShaw Group
Residential | Luxury | Commercial
Las Vegas, NV 
(877)583-5058
Daryl@Wilk-DeShaw.com


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