Ann & Lawrence West (North Las Vegas, NV)
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Comments 4
Cash REMAINS KING in the Las Vegas Area Real Estate Market!!! It is important for every buyer in the Las Vegas Area Real Estate Market to understand who their buyer competition is in this currently competitive seller's market LV is enjoying! It is important to understand how a seller looks at each financing type: Cash Offers: Generally have less contingencies and quicker close times. A cash offer may be accepted even if it is lower than a financed offer. Conventional Financing: Less strict with lender required repairs but larger down payments and more strict credit guidelines. FHA/VA Financing: Requires more scrutiny with lender required repairs via appraisal. In general these take longer to underwrite and close so a cash or conventional offer looks more enticing to the seller. FHA Req...
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Comments 4
The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement for June 2009.  Absorption still remains high BUT is hovering around the 1 year mark.  Solds have FINALLY gone from hovering the 200 unit mark and went over the 400 mark.  I see improvement in this sector! Inventory has decreased  (-482 units).  Pending units have increased by +1000 units.    Solds have increased by +99 units.  Absorption down by 6 months There are many reasons for the lack of closings in this market and it is outlined in this post.  Short Sale Synopsis: Listings 7/16/2009: 5035 Pending 7/16/2009: 6478 Closed June 2009: 400 Month's Inventory: 12.6 Short Sales Currently Account for: 42% of All Las Vegas Valley Listings 9% of All Las Vegas Valley Sales  Read here for the most current Las...
North Las Vegas, NV Real Estate Professionals