This week we have 3771 of which 923 are short sale and 330 are REO.
We would normally have 10k-15k homes on the market.
This is causing mulitiple offers on most properties. We are seeing Buyers pay over appraisal on non-distressed homes.
From The Trenches on Las Vegas Real Estate Home Sales Market
Wednesday, July 11, 2012
Tuesday, June 26, 2012
Las Vegas Valley Single Famliy Home Inventory report 6/26/12:
Total homes for sale 3695. This is in Las Vegas,Henderson and North Las Vegas combined (no condos or townhomes).
Out of the 3695
REO: 366
Short Sales: 950
The remaining properties are flips and resale. We are finding that a large number of these are listed above the comparables in the neighborhood and above appraisal.
Do to this incredibly low inventory we are seeing multiple offers on most properties.
Wednesday, June 20, 2012
Shrinking Las Vegas Inventory
Single Family Home Inventory for Vegas Valley
Single Family Home Inventory for Vegas Valley 6/20/2012
Total homes for sale 3753 this is in Las Vegas,Henderson and North Las Vegas combined (no condos or townhomes).
REO: 385
Short Sales: 966
That leaves 2402 as traditional sales and investor flips. We are finding that about half of these are over priced and won't appraise. Also, several of these are not accepting VA or FHA for various reasons.
Friday, June 15, 2012
Single Family Home Inventory for Vegas Valley
Single Family Home Inventory for Vegas Valley 6/15/2012
Total homes for sale 3760 this is in Las Vegas,Henderson and North Las Vegas combined (no condos or townhomes).
REO: 395
Short Sales: 957
The rest are traditional sale and investor flips.
Wednesday, June 6, 2012
Las Vegas Valley Inventory report 6/6/12:
Inventory report 6/6/12:
Total homes for sale 3791 this is in Las Vegas,Henderson and North Las Vegas combined (no condos or townhomes).
REO: 378
Short Sales: 1018
Do to this incredibly low inventory we are seeing multiple offers on almost every property. Some as high as 60 offers on a single home. When buying a home, Patience IS a virtue.
Tuesday, May 15, 2012
Vegas Valley Inventory - Single Family Homes
Vegas Valley Inventory - Las Vegas, NLV, Henderson
Our current inventory as of 5/14/2011
Total on the market- 3963 Single Family Homes
485- Foreclosures / REO
1145- Short Sales
It's getting to be slim pickings, Multiple offers on most properties right now.
This makes it a great time to list your home, especially if you are short selling. A quick offer will get your home off the market so you won't have to worry about people going through your home. It will also get an answer from the bank quicker and get that hardship out from under you.
Friday, April 6, 2012
AB 284 EFFECT ON SHORT SALES
Great example of how AB 284 has slowed the input of new foreclosures to the market. We had a short sale fall out. The buyer backed out. We put the home back on the market at noon. We had our first offer by 1 pm. and multiple offers by 4 pm. My phone did not stop ringing. We had this home on the market last year and had trouble getting any showings because it is in a rental restricted HOA. No investors allow only owner occupied buyers. Now I have agents begging me to help them get it for their clients. This is why SHORT SALES are the next wave of real estate. I think now is definitely the time to short sale if you are thinking about doing it.
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