BluefoxToday blog : Cash or Credit? Las Vegas Area REO Financing Profiles for August 2010 (includes Henderson & North Las Vegas)

Cash or Credit? Las Vegas Area REO Financing Profiles for August 2010 (includes Henderson & North Las Vegas)

REO Financing Profile for Las Vegas Area

REO Financing Profile for Las Vegas Area

Cash is the obvious dominator with overall Las Vegas Area REO Purchases.  Cash not only dominates but CRUSHES financed purchases under $75000.  The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing. 

Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.)

Condo financing is currently a challenge in the Las Vegas Area.  Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community.  To determine if a condo is eligible for financing, a condo certification may be ordered from the HOA (this does cost money) and have it run by an underwriter.

Whether you are all cash or a financed buyer, you can search Las Vegas Area (Henderson & North Las Vegas too) homes right here for free and no obligation!

View other REO Stats for the Las Vegas Valley!

Last Month's Las Vegas Area REO Financing Profile Report

Learn More About Buying Las Vegas REO

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-605 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

Blog Disclaimer Important Notice

Realtor/MLS Member, NAR, NVAR, GLVARAccredited Buyer's RepresentativeSeller Representative SpecialistSenior Real Estate SpecialistAt Home with DiversityResort & Second Home Property SpecialistShort Sale Foreclosure Resource

 

 

 

Sell Las Vegas Home          Las Vegas Homes for Sale     Las Vegas Rental House

              

 

 

 

Comment balloon 12 commentsRenée Donohue • October 13 2010 01:52PM

Comments

Renee, you have bar none the MOST BEAUTIFUL market graphs. Just eyepopping!  :)

Posted by Candice A. Donofrio, 928-201-4BHC (4242) call/text (Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker) about 8 years ago

Great information for your market.  We're seeing a lot of cash buyers here in St George too.

Posted by Erika Rogers, St George Utah Real Estate & Relocation Specialist (Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage) about 8 years ago

Love the charts Renee. You really do a great job presenting the numbers for your local Real Estate market. your clients past, present and future are lucky to have you.

Posted by Craig Rutman, Raleigh, Cary, Apex area Realtor (Helping people in transition) about 8 years ago

Renee,

Now I get it. Wow, your cash is having quite an impact on the LV real estate market. : )

Steve

Posted by Steve, Joel & Steve A. Chain (Chain Real Estate Investments & Mortgage, Steve & Joel Chain) about 8 years ago

I love the vertical bar graph, Renee.  Looks like cash is the golden color down there.

Posted by Jim Hale, Eugene Oregon's Best Home Search Website (ACTIONAGENTS.NET) about 8 years ago

Renee - Wow, we have yet to have over 50% of buyer's pay cash.  Although a 6.5 million dollar home sold last month for cash only if that counted for something :)

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) about 8 years ago

It is surprising seeing so many cash deals!   I had more this year than ever in one year time!   You DO make some awesome graphs!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) about 8 years ago

Wow, I never have seen so many cash deals in all my years in this industry!

Posted by Ryan Case, 877-828-0710 (SCA Real Estate) about 8 years ago

Renee, interesting graph.  You're still fairly heavy in the lower priced sales.  But the number of cash buyers in the upper price ranges seem to be growing.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 8 years ago

Thanks all for the wonderful comments and compliments!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) about 8 years ago

Renee,

I'm somewhat baffled by the cash buyers, the investors, in this uncertain market environment. Are they able to get a decent return on their money is what I'm thinking about?

Posted by Esko Kiuru almost 8 years ago

Esko:  The ones that have to be playing must speculate on long term holds as they are diluting rental prices!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) almost 8 years ago

This blog does not allow anonymous comments