Dawn Barrier REALTOR®, 's Blog,LAS VEGAS BLOG

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BREAKING LAS VEGAS NEWS: Homes inventory is dropping, Multiple offers on homes, Vegas is heating up again

BREAKING LAS VEGAS NEWS: Homes inventory is dropping, Multiple offers on homes, Vegas is heating up again...

Vegas is heating up again...it is that time of year both in the housing market and the temperatures (although you wouldn't know it by looking out the window this morning looks like a storm is coming and the past few days have been cooler than normal).

The amount of  Single Family homes for sale on the MLS has dropped and the amount of homes in Pending or Contingent status (this means they have contracts on them) has increased to more than the amount of homes for sale.  This may be in part due to Short Sales taking longer to actually close than a typical sale, although I have been seeing some short sales close in 60 days from list to close, but I don't believe that is the norm.

This information was obtained from our local MLS this am and covers the Las Vegas valley, North Las Vegas, Summerlin and Henderson area for resale single family homes, not new homes.

Homes for sale in Las Vegas are comprising primarily of REO (Bank Owned) and Short Sales.  Short Sales may soon be the leader in types of homes for sale in Las Vegas. 

Buyers need to understand that this is typically the "Hot" season for buyers in Las Vegas.  Add to that the fact that prices are so low on homes, investors are back and the first time home buyers tax credit and you have a feeding frenzy of multiple offers above asking price on a majority of the homes.

Cash buyers are back as well and in all price ranges.  This may be due to the great prices and due to the fact that their money won't get much of a return right now in CD's and money markets.

This is a time for buyers to have patience and perseverance when buying a home in Las Vegas.  Work with one agent and be prepared to that you may have to put in many offers on a several homes before you get an accepted contract.

You also should prepare yourself to wait and hear about your offer for approx 7 days now if you put in offers on bank owned.  Why?  There can be more than one reason for this, but  the banks may want that time to receive as many offers as they can get and will usually pick the highest and best priced offer and they may have to submit all offers to a group of investors to approve the offer.

Some buyers may prefer to put in offers on short sales and skip the bank owned homes, but buyers need to be aware that these too are getting multiple offers as well and short sales will take longer to close.  Plan on about 3-4  months from offer accepted to move in.

Do you know someone who is upside down on their mortgage and they need to sell their home?

Do you know someone who may want to buy a home in the Las Vegas area?

Then, pass on my information to them and I will be happy to help them out.

Recent Blogs

1.  5 Recommendations for Navigating Today's Mortgage and Housing Markets

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3. Las Vegas Short Sale Help......Henderson Short Sale Help....Avoid Foreclosure...Selling your home

4. Agent Tips To Buying a REO - Foreclosure Home in Las Vegas by Dawn Barrier "Begin-Prequalify"

5. LAS VEGAS CONDO- New Listing - Just Listed - Summerlin area- SHORT SALE $59,900

6. Las Vegas Homes for under $100,000? YES, they are in VEGAS!!

7. City Center, Las Vegas Strip Construction PICS,, Aria, work is still moving on

 8. Foreclosure Angel Foundation-Be a foreclosure angel-What a great way to help out

9. Home Buyers Beware.....Make you Payments on Time...Rent, Car, Credit Cards, etc.

10. What Buyers Need to Know about Short Sales - Las Vegas Short Sale HELP for Buyers

If you are in the market to sell your Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of selling your home. 

If you are in the market for a Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of buying a home. 

Dawn Barrier
Century 21 Aadvantage Gold
Las Vegas, Nv

(702) 812-4550

http://www.lasvegashothomes.com/

First Time Home Buyer Credit IRS INFO

Dawn Barrier at HOMESMART ENCORE Las Vegas, Nevada   

 

(702) 812-4550 

 

Las Vegas, Nevada   

January 2020

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Any Stats are on Resale Single Family homes only per the GLVAR MLS as of this writing or as noted,covers the Las Vegas Valley, North Las Vegas, Henderson area or as noted.

All photography on this site are the property of Dawn Barrer unless otherwise noted and are

protected by U.S. Copyright laws and are not allowed to be downloaded or reproduced in any

way without written permission of Dawn Barrier.If you would like permission to use a photo

please email Dawn     Important Notice -This is a personal blog.

 

HOMESMART ENCORE Las Vegas Dawn Barrier

(702) 812-4550

s.0065708

Comments

Dawn - Sounds like you are moving in the right direction down there!  Nice to hear that things are turning around.

Posted by Lisa Wetzel, CDPE, SFR carsonvalleyland.com (RE/MAX Realty Affiliates) over 11 years ago

I love these posts it is so encouraging. We are moving houses up here in the Northwest too!-Dinah Lee

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) over 11 years ago

Glad to hear this spreading across the country.  Optimism in increasing.  Hopefully it will continue through the next barrage of foreclosures this year.  So far, the market is taking it in stride.

Posted by TIM MONCRIEF, Over 2,000 homes sold….. (Tim Monciref) over 11 years ago

Thank you all for stopping by and commenting!

Hi Lisa-I hope so!

Dinah - Thank you & that is good news to hear too!

Tim - Yes, it is trying on us all at times to spread the optimism and I agree and hope that the possible next wave is less destructive!

 

Posted by Dawn Barrier in Las Vegas at HOMESMART ENCORE, Homes in Las Vegas Nevada 702-812-4550 (HomeSmart Encore - Las Vegas) over 11 years ago

According to data posted on Esko Kiuru's blog, Las Vegas is the 3rd most undervalued city in the U.S. at over -40%. Here's a link to his post which contains a link to the original CNNMoney article dated June 4,2009.

Las Vegas near the top for most undervalued housing markets  

Posted by Andrew Jones, LA Beach Cities Homes 310-399-3740 (Horizon Pacific Realty ) over 11 years ago

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