BluefoxToday blog : Las Vegas NV Area Sold Terms & Trends January 2011 (includes Henderson & North Las Vegas)

Las Vegas NV Area Sold Terms & Trends January 2011 (includes Henderson & North Las Vegas)

las vegas area homes for sale

Las Vegas Area Homes for Sale

Cash REMAINS KING in the Las Vegas Area Real Estate Market!!!  It is important for every buyer in the Las Vegas Area Real Estate Market to understand who their buyer competition is in this currently competitive seller's market LV is enjoying!  It is important to understand how a seller looks at each financing type:

Cash Offers:  Generally have less contingencies and quicker close times.  A cash offer may be accepted even if it is lower than a financed offer.

Conventional Financing:  Less strict with lender required repairs but larger down payments and more strict credit guidelines.

FHA/VA Financing:  Requires more scrutiny with lender required repairs via appraisal.  In general these take longer to underwrite and close so a cash or conventional offer looks more enticing to the seller.  FHA Requires the deed to be seasoned for several months so some flips bought at trustee's sales are generally out as options when competing with multiple offers!

Other:  Less common and creative financing types such as Lease Options, OWC (Owner Will Carry), etc.  The "other" category INCLUDES auction terms!!

Last Month's Report

Most Current Las Vegas Sold Terms and Trends Report

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 101-606 (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

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Comment balloon 7 commentsRenée Donohue • March 03 2011 09:06AM

Comments

You are the numbers Queen Renee. Anyone who needs to know what's happening in the Las Vegas area Real Estate market needs to call the expert..... YOU!

Posted by Craig Rutman, Raleigh, Cary, Apex area Realtor (Helping people in transition) over 7 years ago

I agree with everything my buddy Craig above me states...well done Craig and well done Renee!!!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 7 years ago

Another great market update/report.  Cash is king here as well with the low prices many have now been using their cash to buy some real estate.

Posted by Bob Jakowinicz, Michigan Real Estate Agent-- MI RE Adventures (National Realty Centers Livonia--Bob Jakowinicz) over 7 years ago

Renee,

Your commentary is well spoken. Cash buyers are being rewarded well in this market. 

Steve

Posted by Steve, Joel & Steve A. Chain (Chain Real Estate Investments & Mortgage, Steve & Joel Chain) over 7 years ago

Renee:  Excellent commentary and information about how to buy in Vegas.

This is the info I would want if I were moving to your city.

Keep on blogging.

Tom

Posted by Tom Waite, So Cal-Apartment Bldg Investments (Thomas Waite Real Estate Broker) over 7 years ago

Renee,

Cash buyer usually means an investor, so they are still dominating the market. They have done that for the last two-three years, so there are lots of rental properties across the valley, I gather.

Posted by Esko Kiuru over 7 years ago

Thanks all for the comments!

Esko:  YES!  Lots of rentals and it is hurting rental values too.  They are renting well still but just at lower prices!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 7 years ago

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