WE arent close to the end. We have so many short sales just sitting there. Bank owned foreclosures, are alot. They are being picked up if they are under $90 a sq foot. Alot dont sell and then go to auction. I think in Las Vegas we still have a while to go. I beleive the time is know to buy in Vegs, we have multiple offer situations all the time. If you are the first one there. Give a good offer, you will get it. Last week I got 2 homes accepted in one day. I made about 6 offers on different homes for one guy. How is your market doing? Thanks for the read. Merri If any one is interested here is Nehemiah's web site, getdownpayment.com includes a form for H>R> 6694 supporters to complete if they wish to send emails or letter to their congressional representatives.
Aloha Merri
Here is Hawaii the number of short sales and foreclosures has gone up but is still a small percentage of the market.
How can you not be at the bottom if you are getting offers over the list price on some properties? You must be close...or the buyers would not bother. Ruth
Here in Kansas City we still have a lot of bank owned properties just sitting on the market. Seems that for awhile things picked up but currently I have few listings going over 30 days without a single showing.
We have alot of investors buying and renting in the Las Vegas market. We have some first time home buyers as well. But of course we will be losing the nehemiah program. The country's largest seller assistance program girts mortgage down payments to buyers from sellers. The elimination of the DPA is critical in a down market, we have closed almost 50% of our homes with this program. I have the banks giving 6% , the buyer's dont come up with a dollar. That is ending October 31. Nehemiahs web site is getdownpayment.com includes a form for H>R> 6694 supporters to complete if they wish to send emails or letters to their congressional representatives. Take a stand.
Paul, you certainly have a way with words (LOL).
Merri, Thank you for bringing up the fact that the buyer down payment program is in trouble and could use a little letter writing help to gain some support to save it. :-)
I don't think ours are low enought yet to sell. They are all "as is" without the "as is" price.
We are down to about 75 dollars a sq.ft. for foreclosures and less, depending upon the area of town.
Hello Merri,
I'd like to suggest a possible solution for the Las Vegas Foreclosure and Short sales Market. The major issue with this area of the market is once the short sale has been negotiated by the owner, they still need to find a way to finance the deal. In most cases the bank they negotiated with will not refinance them on the property. Homeowners, Realtors and Investors are taking advantage of a program that can help solve this issue of funding, and we work with people with A credit to C credit and still offer down payment programs through our service.
Please check out my blog: Old Concept Creates New Opportunities for All! Posted on this Group today.......... I welcome any questions or comments you have.
Kindest Regards
The market in Iowa has picked up as of late. It's not spectacular but better than before. Good Luck
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