While you’re sweltering in the heat, keep in mind that whether you’re buying or selling a home in Las Vegas, a swimming pool is more than a way to cool down – it’s also a big factor in home values. 2016 is set to be a record-breaking year when it comes to weather. According to the National Oceanic and Atmospheric Administration, January through June of this year was the hottest 12 year stretch in the last 136 years! No wonder more than 38% of Americans include a swimming pool when describing their “dream” home. Nationally, a recent survey taking into account a home’s size, age, location, etc., found that being able to include a swimming pool in a listing could increase a home’s price anywhere from 8% to as much as 19%! So, whether it’s a pool to…
Tagged : las vegas foreclosures
Found 10 blog entries tagged as "las vegas foreclosures".
We have a wonderful company here in Las Vegas called "Salestraq" which supplies local Realtors with quarterly market data summaries for both new homes sales and MLS resales. Below is the report for the first quarter of 2014, and we decided to post the report here so that you can see the price differential between new homes and resale homes, and the reasons why there can be such a difference.
Evaluating the Differences Between New and Resale Home Prices
Courtesy of Salestraq
THE BOTTOM LINE...Stability has been a recurring theme in the Las Vegas housing market over the better part of the past year. Through the first quarter of 2014, the supply-demand dynamics are more reflective of sustainability than those seen during either the boom-time…
According to Mark Stark, owner of Prudential Americana LLC (one of the largest Prudential franchisees in the country), the Las Vegas real estate market has made a full return to traditional sales. In February 2014, bank foreclosures and short sales combined only made up a meager 14% of total closed transactions.
This is due in large part to the failure of Congress to extend the Mortgage Debt Relief Act at the end of 2014. This Act allowed short sale homeowners to avoid paying taxes on the unpaid balance of their loan when they sold for less than what was owed. Instead, these potential sellers are opting to stay in their homes and make the payments rather than be faced with one huge tax bill.
And, though it is possible (anticipated?) that Congress will…
The end of 2012 is almost here, and for the Las Vegas real estate market it's been mostly good news - FINALLY! The housing inventory is way down, and prices have risen steadily since the first of the year. A "balanced" market in Vegas should be be about 10,000 homes for sale. But as of today's date, there are only 3,892 single family homes actively on the market.
Here's a breakdown of the current single family homes currently for sale by price range in December vs. July. You will note that the lower end housing under $100k has dwindled significantly by almost 20%, while inventory in the rest of the price ranges has remained almost identical.
Of the homes currently on the market in December, 752 (19.32%) are short sales and only 364 (9.35%) are…
As of April 26th, only 4,594 single family homes remain listed in the Las Vegas MLS as active (not under contract) in Clark County. Our inventory is continuing to shrink as few, if any, bank foreclosures are reaching the market due to the restrictions of AB 284.
The sale of lower priced housing, in particular, is really active. This week one of our agents had an offer in on a home that had received over 70 offers within just a few days, most above list price!
The current market breakdown looks like this:
874 homes priced under $100k - including 361short sales and 225 foreclosures
1644 homes priced between $100k and $200k - including 664 short sales and 278 foreclosures
846 homes priced between $200k and $300k - including 262 short sales and 89
"Where have all the homes gone?!" In the Las Vegas real estate market it's like the clock has suddenly been turned back to the year 2004. Within hours there are multiple offers on everything listed under $250k, often sight unseen, and most accepted contracts are going above list price. New home builders are warning real estate agents about imminent price increases.
At the beginning of November there were approximately 11,500 single family homes actively on the market that were not yet under contract. Today, less than 6 months later, there are only 5,074 active single family listings in the Las Vegas MLS. That's about a six week supply at the current rate of absorption.
This is a direct result of Assembly Bill 284, which effectively stopped the non…
Nevada has always been a non-judicial foreclosure state. If a borrower was past due, all the mortgage holder had to do was produce copies of the appropriate documents and file foreclosure notices, and within approximately 5 months the foreclosure sale took place at the county steps. There was no right of redemption for the borrower, and the new purchaser took possession immediately.
But in the wake of the robo signing scandals, the Nevada legislature passed a new amendment, AB 284, which included the requirement that an authorized representative of the current lien holder had to complete and sign an affidavit indicating they had “personal knowledge” of all previous transfers of interest in the note. Most notes are sold by the originating lender within…
For the past three years clients have been telling us they want a “steal of a deal” on Las Vegas real estate. So how come most of them stop looking in December? All month long, December is the Black Friday of real estate!
Savvy shoppers know that December is the best time of the year to buy property for a number of reasons. And that has never been more true of homes for sale in Las Vegas at the end of 2011 with interest rates and prices at an all time low already.
1. Motivated sellers! Many sellers will take their home off the market until after the holidays. This indicates a seller who is less motivated to sell. A seller who keeps their home on the market and easily available for showings wants to make that deal.
2. More negotiating room! Banks and other
Set on 320 lush acres with its own private lake, three hotels, a casino, the Lake Las Vegas Marina and home to the prestigious South Shore Golf Club, Lake Las Vegas is an elegant European themed resort destination with 1400 luxury homes and condos surrounding the Montelago Village, a boutique collection of shops and restaurants. Each year over 20 events are featured in the…
Hudson and Marshall will be conducting two auctions of over 100 HUD properties around the Las Vegas Valley on Saturday November 5th, 2011 at the JW Marriott. Registration for Auction 1 will open at 9 am. Auction 1, starting at 11 am, is open to owner/occupants ONLY. Successful owner occupant bidders will be eligible for special FHA financing with only $100 total down payment (instead of the typical 3.5% down payment). Plus they can ask the seller to pay 3% in closing costs.