Las Vegas Real Estate

Las Vegas real estate news and trends for the Southern Nevada real estate market.

There are currently 9 blog entries related to this category.

Black Friday Deals in Las Vegas...

Thursday, November 25th, 2010 at 8:37am. 986 Views, 0 Comments.

Black Friday Deals for items that have real value..

In the spirit of the season, we've got some great deals on Las Vegas Homes where prices have been slashed. No need to camp out and wait in line, just call 702.592.3058...

Click the address for more information, mapping and a mortgage calculator.

Southwest Las Vegas Home for Sale7425 Mojave Canyon St. - Southwest Las Vegas Home for Sale

Move In Condition. Over 1,900 square feet, 3 Bedrooms / 2.5 baths with a loft. Just slashed $10,000 off of the price and now available for $130,000. Granite Counters, tile and we'll throw in all of the appliances if you call 702.592.3058.

Located in the Jones & I-215 area of Southwest Las Vegas in the Canyon Crest Subdivision.  Monthly Association dues are $40 a month and annual property taxes are currently…


Dataquick releases October numbers for Las Vegas Real Estate

Wednesday, November 24th, 2010 at 11:14am. 857 Views, 0 Comments.

Interesting Article in TheStreet.com

Really no surprise so I'm not going to comment on it too much except for some interesting numbers:

Las Vegas Home Sales Sank In October - TheStreet.com - 11/23/10

Home sales fell sharply in the Las Vegas region last month as the weak economy, concerns about job security and the hangover effect from the home buyer tax credits took their toll on demand. The overall median sale price fell nearly 4% from a year ago to its lowest level in more than 12 years, a real estate information service reported.

Keep in mind when all of these reports come out about Las Vegas Home sales for October that in October of 2009 we had the mad rush to beat the original deadline for the first time homebuyers tax credit that was supposed to expire…


Will Las Vegas Home Values ever bottom out?

Sunday, November 21st, 2010 at 8:55am. 3583 Views, 4 Comments.

HomeBuyer Tax Credit Only Delayed the Inevitable

Home values will continue to drop across the nation according to an article in HousingWire.

FISERV Expects Big Drop in Home Prices Next Year 11/15/2010 by Jon Prior

Fiserv Chief Economist David Stiff said the largest declines will come in those markets that had strong spring and summer price gains.

"This is because the home buyer tax credit delayed the correction in home prices that is necessary to return housing affordability to its pre-bubble levels," Stiff said.

Las Vegas Real Estate still has it's issues

No doubt you've heard that Las Vegas is the foreclosure capital of the United States as homeowners give up on seeing any hope of home values returning to the peak levels seen in 2006. The latest estimates are…


Las Vegas Real Estate Report - July Closings

Wednesday, August 4th, 2010 at 5:02pm. 1025 Views, 3 Comments.

July Real Estate Closings for Las Vegas actually Look Solid

Months following the April 30th Contract deadline of the First Time Homebuyers Tax Credit critical to see if a base and interest in Las Vegas real estate is sustainable.

las_vegas_real_estate_sold_400Some of these July closings were originated in April but as the months pass, more and more of these sales will not be due to Government subsidies enticing buyers. Obviously there has been a lot of concern from Real Estate experts across the country what would happen if the tax credit expired. As expected, some markets not allowed to correct before the tax credit program are seeing pain with multiple price reductions and increased inventory which has been dominating the news as of late. According to many of the reports I've seen, Las…


Prudential Real Estate Ranked #1 for Home Sellers by JD Power and Associates 2010

Sunday, August 1st, 2010 at 7:55am. 1770 Views, 0 Comments.

Prudential Real Estate Ranks #1 for Home Sellers

07/28/2010 - JD Power & Associates 2010 Home Buyer/Seller Survey ranks Prudential #1 in Customer Satisfaction for Home Sellers.

"Among home sellers, Prudential ranks highest with a score of 760 and performs particularly well in the marketing and agent factors. Prudential is the only company to improve in home-seller satisfaction in 2010, compared with 2009." 

Let's face it.. there is no shortage of Real Estate Companies saying they are #1 but there is only one JD Power & Associates Customer satisfaction survey and according to their 2010 survey, Prudential Real Estate ranked #1 in what is probably the most challenging segment of the Real Estate Industry right now. This is the second time out of the past 3…


Las Vegas Home Values Heading for another Dip? REO Home Inventory going back up...

Saturday, June 26th, 2010 at 8:05am. 909 Views, 0 Comments.

Las Vegas Bank Owned Homes Inventory Going Back Up

las_vegas_foreclosures_for_sale_850The Number of Las Vegas REO Homes available for sale is going back up since the official deadline of 04/30/2010 ended the First Time Homebuyers Tax Credit.

As of 06/26/2010, the number of Bank Owned Homes available on the Las Vegas Multiple Listing Service (MLS) has creeped back up to 2,279 for areas 101 through 606 which includes Las Vegas, Henderson and North Las Vegas.

On 04/14/2010, the number of Las Vegas Bank Owned Homes was 1,281. You can view the history of the number of Las Vegas Bank owned homes available for sale on the Las Vegas MLS at my Las Vegas Bank Owned Homes report.

News from around the web of reports after the Tax Credit Ended:

From CNBC Realty Check:

"The tax credits saved the housing…


Private Company Loan Modifications almost double Government Loan Modifications

Friday, March 19th, 2010 at 2:24pm. 716 Views, 0 Comments.

You Can't Argue with Actual Results

Interesting article today on CNBC concerning the latest reported number of loan modifications performed in January that you can read Here.

From the Article:

"The Hope Now Alliance, "the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors," reported today:

January 2010 data estimates 99,499 homeowners received proprietary loan modifications for the month. Combined with the United States Treasury’s recently released Home Affordable Modification Program (HAMP) data that showed 50,364 HAMP modifications for January, the total number of loan modifications is almost 150,000 for the month.

Most significant in the data is the fact that 74% of proprietary loan modifications done in…


Las Vegas Short Sales dominate Inventory Report for February of 2010

Thursday, February 4th, 2010 at 8:15pm. 836 Views, 0 Comments.

Las Vegas Inventory Report

Short Sales in Contingent Status Dominate Inventory

I just updated a client searching for properties on their own that keeps sending some really nice properties for more information with the news that the properties are currently in a "Contingent" status. All of them were short sales in a contingent status just waiting for a Lenders Approval of the short sale.

Due to the uncertainty of what the lien holder is going to come back with for an approval, properties with a signed contract between the seller and a buyer are put into a "Contingent" status subject to lenders approval. Unlike other contingencies... this is something the buyers and sellers have to rely on a third party since the price and terms of the final sale have to be…


Las Vegas Real Estate Undervalued by 41% According to New Report

Thursday, January 28th, 2010 at 3:08am. 1274 Views, 0 Comments.

Las Vegas Real Estate Undervalued?

According to a new 2010 report compiled by IHS Global Insight and PNC Financial Services. The recent report was mentioned by CNNMoney.com that you can read by clicking on the following Link:

Housing Markets Now Well Undervalued

"The most undervalued market is Las Vegas, where homes sell for 41.4% below fair market, followed by Vero Beach, Fla. (-39.8%), Merced, Calif. (-37.7%), and Cape Coral, Fla. (-36.8%)."

Credibility Matters so who is IHS Global Insight & PNC Financial Services? The same companies that ranked Las Vegas as 38% Overvalued back in January of 2006 that you can read by Clicking Here.

Certainly some credibility when some of the so called real estate "experts" were claiming there was no bubble in Las Vegas at the…