Posted by Paul Francis on Wednesday, January 16th, 2013 at 9:02am.
Bank Owned Homes for Sale in Las Vegas – 01/16/2013
As of 01/16/2013 – The number of Bank Owned Homes for Sale on the Las Vegas Multiple Listing Service is a whopping 546. This includes all of Las Vegas… Summerlin, North Las Vegas, Henderson, Green Valley and Lake Las Vegas. Single Family Homes, Condos, Townhomes, High Rise Condominiums..
Pop on over to my Bank Owned Homes for sale in Las Vegas page where I’ve been tracking the Bank Owned inventory for sale since May of 2007 (scroll all the way to the bottom of the page) to see what has taken place since then.
May of 2007 – 589 Bank Owned Homes for Sale
January of 2009 – 7,750 Bank Owned Properties for Sale is the highest number I’ve reported and down to 546 as of today.
Bank Owned Properties for Sale by Category:
(If you click on the links, this will take you to my Las Vegas MLS search and includes properties currently in “Contingent” status which means a buyer has already been accepted. Also, the properties AUTOMATICALLY update so the numbers will change. Reported numbers listed below are from the actual Las Vegas MLS and includes all of Las Vegas, Henderson and North Las Vegas.)
- 405 Single Family Homes
- 80 Condominiums in buildings 5 stories or less
- 49 Townhomes
- 5 Manufactured Homes
- 4 Mult-Family Properties.
- 3 High Rise Condominiums
Price Ranges of the Bank Owned Properties for Sale:
By far my #1 Request from Cash Investors is for Single Family Homes.
Single Family Homes:
- 158 Single Family Homes for under $150,000.
- 183 Single Family Homes between $150,000 to $250,000
- 53 Single Family Bank Owned Homes between $250,000 and $400,000
- 6 Single Family Bank Owned Homes between $400,000 and $600,000
- 5 Single Family Bank Owend Homes $600,000+
Condominiums in Builidings 5 Stories or Less:
- 62 Bank Owned Condominiums for under $100,000
- 17 Bank Owned Condominiums between $100K and $200,000
- 1 Bank Owned Condo between $200K and $300,000
Bank Owned Townhomes for Sale:
- 17 Bank Owned Townhomes for under $100,000
- 31 Bank Owned Townhomes for Sale between $100,000 and $200,000
- 2 Bank Owned Townhomes for sale $200,000+
For the rest of the Bank owned properties for sale, just click on the links under Category since there is little to no inventory and no reason to break down the prices.
Total Inventory available for sale on the Las Vegas MLS
Total inventory for properties on the Las Vegas MLS located in Las Vegas, Henderson and North Las Vegas is at 5,048 properties. Broken down by category:
- 4,542 Single Family Homes, Condominiums in buildings 5 floors or less, Townhomes and Manufactured Homes.
- 386 High Rise Condominiums
- 120 Multi-Family Properties.
A question that I’ve been getting for quite some time now is the inquirer “heard” that there is going to be a bunch of “shadow inventory” that is going to be dumped on the Las Vegas market forcing prices down. As of right now… there is no such indication that is going to happen. Multiple offers are taking place on nice homes… I’ve even been in multiple bidding wars on properties priced $500,000 plus.
Everybody also needs to keep in mind that interest rates are extremely low and all of the people that got foreclosed on or short sold their homes over 3 years ago are back in the market with many of them qualified to buy. I’ve even come across a buyer that short sold their Las Vegas home and bought one of my listings right after their short sale sold. (It is possible if the guidelines are followed.)
And it’s not even the traditional “Buying Season” in Las Vegas yet..
In an upcoming post I’ll go over what’s been taking place for the actual foreclosure notices being filed where there is no indication that the inventory shortage is going to change anytime soon.
Paul Francis
Prudential Americana Group, REALTORS®
Real Estate in Las Vegas
702.592.3058
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