October 2012

There are 5 blog entries for October 2012.

Buyers Are Back After Going Through Foreclosure

Thursday, October 18th, 2012 at 11:11am. 598 Views, 1 Comments.

Buyers are Back after Foreclosure

From the Wall Street Journal: Buyers Are Back After Foreclosure

Using the three-year benchmark it takes to get an FHA-guaranteed loan, in this year's second quarter there were 729,000 households that were foreclosed upon during the bust that are now eligible to apply for an FHA mortgage, up from 285,000 in the second quarter of 2011, according to an analysis of foreclosure data by Moody's Analytics. The company projects that number will grow to 1.5 million by the first quarter of 2014.

One thing that many people fail to factor in when it comes to the fears of the banks "dumping" the so called Shadow Inventory on to the Las Vegas real estate market and sinking prices is the amount of people that are now qualified to buy again.…

Nevada Ranks Second in Percentage of Homeowners 90+ days late on their Mortgages

Wednesday, October 17th, 2012 at 2:57pm. 977 Views, 0 Comments.

Corelogic® Releases August 2012 Stats

Corelogic® recently released their October Market Pulse report that included a chart showing the % of home loans out there that are 90+ days late. While it was no surprise that Nevada was in the top 10, what was a surprise were the number of states that you rarely hear about when it comes to the number of foreclosure notice filings.

Also a big surprise is that Arizona has dropped off of the top 25 list for the percentage of delinquent home loans 90+ days late. It didn't seem like it was too long ago that Arizona was competing with Nevada for the top spots in the number of foreclosure filings reported. Arizona took the path of dealing with distressed homeowners head on and not delaying out the foreclosure process…

Las Vegas Home Values - Zip Code 89144 in Summerlin North

Tuesday, October 16th, 2012 at 10:11am. 830 Views, 1 Comments.

Las Vegas Homes- Average Sale Prices for Zip Code 89144 in Summerlin North

Summerlin Sign in Las Vegas, NevadaLas Vegas Zip Code 89144 in Summerlin North Average Sale Prices for September 2006, September 2011 and September 2012.

Peak of the market in September of 2006, Average sale price at the bottom of the market in September 2006 and the bump in sale prices eleven months after Nevada AB 284 went into effect addressing Robo-Signing that slowed down the foreclosure process in Nevada.

The Numbers below are from the Las Vegas Multiple Listing Service and includes Condominiums and Townhomes. It does not include For Sale by Owners. Information deemed reliable but not guaranteed.

Las Vegas Zip Code 89144 Average Home Sale Price

Year# of SalesAverage List PriceAverage Sales PriceAvg. Sq. Ft.Avg. $…

Las Vegas Home Values Zip Code 89138 shows interesting year over year results

Thursday, October 11th, 2012 at 8:33pm. 655 Views, 1 Comments.

Summerlin West Average Home Sale Price goes up, Total Home Sales Reported Drops

The Vistas Village in Summerlin 89138These are numbers reported from the Greater Las Vegas Multiple Listing Service for Las Vegas zip code 89138, commonly referred to as Summerlin West.

It includes Single Family Homes and Condominiums and does not include For Sale by Owners or New Home sales currently taking place in Summerlin West.

Snapshots are reported from September of 2006, September of 2011 and September of 2012. The reason for these three dates:

  • September of 2006 is widely regarded as a time frame within the peak of the Housing Bubble in Las Vegas.
  • September of 2011 - The month before Nevada Assembly Bill 284 was put into effect on 10/01/2012. This legislation was enacted to address "robo-signing" and modified…

Las Vegas Home Values Show Signicant Jump in Summerlin South

Wednesday, October 10th, 2012 at 10:31pm. 746 Views, 1 Comments.

Summerlin South Average Home Sale Prices Jump Significantly

News has been hitting the media that the average sold prices for Las Vegas have been going up. While some of us knew that this was going to happen due to Nevada Assembly Bill 284 that went into effect on October 1st, 2011 and advised our clients to buy while they had the chance, the numbers starting to come out now almost one year later are quite shocking.

Las Vegas Average Home Values in Zip Code 89135

Las Vegas Home Value Analsis with a Professional that factors in current Market conditionsAt the peak of the Housing Bubble back in 2006, the average sales price in September of 2006 of a Las Vegas home in Zip Code 89135 (commonly known as Summerlin South) was $655,400 for 2,521 square feet resulting in an average of $241 a square foot.

These numbers are from 36 reported sales of…