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- 2012 Market Trends: Las Vegas Home Sellers
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| Are Interest Starting To Rise Back Up? Posted: 24 Mar 2012 10:43 PM PDT Mortgage Rates Up, With 30-Year Fixed Above 4 PercentSee the article here:http://www.dsnews.com/articles/mortgage-rates-up-with-30-year-above-4-percent-2012-03-22 |
| Ex-Vegas broker gets 14 years for mortgage fraud Posted: 24 Mar 2012 04:39 PM PDT A judge handed down a stiff prison sentence to a former Las Vegas real estate broker convicted in a mortgage fraud scheme that prosecutors say caused more than $24 million in losses to banks. |
| LAS VEGAS HUD PROPERTIES + GOVERNMENT FORECLOSURES LIST Posted: 24 Mar 2012 08:18 PM PDT Foreclosures Continue to Weigh on Home PricesForeclosed homes continue to sell for less than other homes. During the spring, bank-owned homes sold for 40 percent less than the average price of other homes. Sales of homes in the foreclosure process or short sales sold for 21 percent less than the average home sold. DON'T MISS! FREE LIST HUD PROPRTIES + GOVERNMENT FORCLOSURES <-hit
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| Posted: 24 Mar 2012 08:16 PM PDT The median sales price for homes in Spring Valley, Las Vegas for Dec 11 to Feb 12 was $108,900 based on 960 sales. Compared to the same period one year ago, the median sales price decreased 9.2%, or $10,975, and the number of sales decreased 23%. Average price per square foot for Spring Valley was $72, a decrease of 91.6% compared to the same period last year. There are currently 489 resale and new homes in Las Vegas on Trulia, including 1 open house, as well as 1,090 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Spring Valley was $229,840 for the week ending Feb 29, which represents a decrease of 2.6%, or $6,053, compared to the prior week. http://www.trulia.com/real_estate/Spring_Valley-Las_Vegas/9302/
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| i would like an FHA Loan my husbands scores are 660,658,648 mine are 667,762,789 Posted: 24 Mar 2012 05:04 PM PDT I would like to buy a home in las vegas nv 89147/ 89148 ... can we get approved with these scores he has a good job and i get soc.sec. |
| <b>Las Vegas Real Estate</b> Market Trends 2012: Sellers Posted: 24 Mar 2012 01:23 PM PDT Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of. My 2012 Las Vegas real estate market trends ... |
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| Posted: 24 Mar 2012 02:37 PM PDT Sorry for the internet lingo, I ran into length restrictions. I am looking to purchase some moderately priced real estate to establish residency as I search for employment. Has anyone sold property to people moving there for this reason? |
| 2012 Market Trends: Las Vegas Home Sellers Posted: 24 Mar 2012 02:32 PM PDT
Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of. My 2012 Las Vegas real estate market trends predictions will depend on several factors:
2012 will more than likely be GREAT for homeowners that have a necessity sell a house in Las Vegas. Las Vegas home inventory is low and dwindling lower daily. This is happening for several reasons: low interest rates, low prices, high amounts of buyer activity and most recently due to AB 284. Some agents are even speculating that we could see 2004 levels of inventory (what caused price spikes) by late spring or early summer. That being said - am I expecting 2004 prices to come back? Probably not because that would more than likely make buyer's retreat from this market very quick. On my listings I have been pushing the limit with list prices to get 10% more than what homes have been closing for. We are receiving MULTIPLE offers at these higher prices and LOW appraisals on accepted offers with financing. Sellers that are aware of the current inventory situation are NOT lowering their prices much when a low appraisal comes into play. What these savvy sellers are doing is requesting the buyer comes in with additional funds, taking away paid concessions or put the home back on the market. Home sellers that are 10-30% underwater and are considering a short sale, "strategic default" or letting their home go "back to the bank" may want to wait a few months to reconsider to see where prices are ending up. As of right now, we are still showing declines in areas. Homes that are NOT distressed are beginning to fetch more than distressed properties - before now there wasn't much disparity. REO inventory will sink lower due to the lack of NOD's being filed since October 1, 2011. Short sale inventory may see a reduction due to owners being placed closer to equitable situations if prices were to rise AND/OR legal advice in regards to AB 284. I expect more 3rd party investor purchasing action at the trustee's sales. With that being said, I am also expecting our types of inventoryto shift in 2012 a bit:
Our Las Vegas buyers are STILL very sensitive to pricing. The envelope can be pushed to the tune of 10% right now but not a whole heck of a lot higher. Need to sell your Las Vegas house? Let us send a complimentary no obligation consultation right to the privacy of your email! copyright 2006-2011 Renee Burrows, REALTOR®, The Force Realty 702-966-2494 |
| Las Vegas Real Estate Agents: Got the AB 284 Blues? Join us April 4! Posted: 24 Mar 2012 02:28 PM PDT  Join us on April 4th! Registration is FREE. To Register - Go To: http://theforcerealty1.eventbrite.com/ |
| Las Vegas Real Estate Over 50% Off Posted: 24 Mar 2012 12:46 PM PDT This property in North West Las Vegas is a prime example of the homes we have on the market at prices that are half of what they sold for a few years ago. This home is 2131 Sq ft featuring 4 bedrooms and three baths. The owner is a pool builder and has created a pool terraced into the rear yard elevation. This home is currenty under contract at $170,000. If you run the numbers you would have a payment that looks like this. |
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