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Homes prices are inflated 10-20% in Las Vegas - "How about your City"?

By
Industry Observer

Bank Owned Homes - Overpriced

"How about your City"? Are home prices inflated 10 20%?

The banks in Las Vegas & Henderson Nevada are sitting on a HUGE inventory of homes, approx between 20 - 30 thousand, give or take. The banks are so greedy that they will slowly trickle these bank owned homes into the market so they can get the best prices possible. In Spring of 2014 as the banks drop their homes into the market, they will have very (low) price tags on them. Then investors along with home buyers will swoop into Las Vegas & Henderson to start the bidding wars again.

Vegas Bob remembers the market 2 years ago when homes were selling 20-30% over asking prices. The reason was, there would be about 50+ investors and home buyers bidding on the same bank owned homes. This pattern will be repeating once again in 2014.

Some HUGE investors came into Las Vegas and other cities across the country sitting at the tables with the banks. They would ask the banks what kind of a deal they can get if the investors purchased 10-20 homes ... (ALL CASH).

At this time 2-7-2014 home prices in Las Vegas Nevada continue to be inflated from 10-20%. And by late spring early summer of 2014 it's going to get worse.

My suggestion for any persons interested in purchasing (NOW) in Las Vegas & Henderson Nevada would be ... If you see a home you like, make an offer, see if the home owner or bank will come down on the price before it's to late.

Vegas Bob is in construction and the city of Las Vegas is going to "BOOM" again with construction, inflated home prices, etc.

THIS WILL BE A GREAT TIME FOR NEW HOME BUILDERS, CONSTRUCTION WORKERS AND REALTORS ;o)

Las Vegas Nevada 

Posted by

Robert "Vegas Bob" Swetz  

Direct: 408 410 4171

"Have a Wonderful Day"

VIDEOS BY VEGAS BOB

 

Comments (6)

Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

VBob  Yes I think you are right prices are slowing rising

Feb 07, 2014 12:45 AM
Robert Vegas Bob Swetz
Las Vegas, NV

 Hello Hannah and the prices in Las Vegas have already been 10-20% over. And by about March - April of this year they will jump another 10% ;o(

VB ;o)

Feb 07, 2014 01:59 AM
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

That's a lot of shadow inventory!

Feb 07, 2014 02:56 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Catherine and yes it is ...

VB ;o)

Feb 07, 2014 06:28 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

VB - Home values have been increasing in my area, but I wouldn't necessarily call them inflated.

Feb 07, 2014 09:37 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Michelle ... Thanks for the visit and info from your area!

VB ;o) 

Feb 07, 2014 10:27 AM