Steady Recovery for Vegas

About 70 percent of used-home sales in Southern Nevada now are traditional deals between private buyers and sellers, according to the Greater Las Vegas Association of REALTORS. The shift to traditional deals from short sales and foreclosures, two hallmarks of the housing bust, reflects the valley’s ongoing economic recovery. Click on the link...

Phantom Properties

Eugenio Aleman from Wells Fargo stated at a recent conference that Las Vegas doesn’t have much shadow inventory and don’t expect to see it flood the market. Others disagree, saying we have many vacant homes here, constituting much shadow inventory. Resale inventory remains low despite shadow inventory. Another pending bubble? ...

Inventory Disarray

Distressed Inventory has continued to drop year after year. While distressed inventory is declining, the time estimated to clear these distressed homes from the market is rising, up five months from the second quarter of this year and 11 months from September 2012, according to Morningstar’s analysis. Judicial foreclosure states hold close to 7...

Foreclosures Falling Down

Nevada is no longer a leader in the number of foreclosures. Reports generated in the third quarter show Las Vegas may be past the worst of the housing market’s foreclosure problems. Foreclosures have dropped to 13 percent of total sales and banks are now approving more short sales. To find out where Las Vegas fell on the list click here and...

Las Vegas Looking Up

According to data, Las Vegas is no longer holding the top stop for the most foreclosures. We have dropped to sixth in foreclosure rates and for the sixth straight month prices rose throughout the valley. Local experts predict prices should stay at the same rates they are at now for at least the next year and a half. Due to the many homes still...

Negative Equity Falling, Prices Rising

Las Vegas has definitely felt the brunt of the economic recession! This comes as both good and bad news, with more Las Vegas owners’ negative equity reducing as prices continue to rise. However, it be a slow process because Nevada has the highest negative equity in the nation at 61 percent.. Las Vegas is still one of the most undervalued...

Supply and Demand

Las Vegas median price rose to $132,000 making it the fifth straight month that prices have increased and claiming the longest upward streak in eight years! Compared to last year prices have increased almost six percent and with the lack of inventory it isn’t certain which direction the market is heading. What does this mean to you? Share your...

Banks Getting it Together

May was the first month since the housing crisis began that short sales outnumbered foreclosures. Banks are also providing incentives for completing short sales by giving some sellers between $2,000 to $30,000 for relocating. It seems that the new Robo-Signing Law is helping short sales become the most popular alternate to foreclosure. Do you...

Roller Coaster Market

Whether you’re a home buyer, seller or real estate professional you better hold on tight for the roller coaster ride that is just around the next corner. Housing prices have increased for the majority of this year and bidding wars have emerged. On the other hand housing inventory is down 66.3% from the prior year to just 3,800 available without...

Dominating Land Sales

Nevada’s resale housing inventory is diminishing daily and new home sales are surging, so it comes as no surprise that land throughout Las Vegas has become a priority for builders. Based on a 38% increase in land sales from last year it is more than obvious big plans are in the works! Home builders are scurrying to snatch up large parcels for...