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Here it is Fall of 2008 and the Las Vegas Real Estate Market is like the rest of the economy – in some turmoil or in heavy seas, as they would say out in the Atlantic.
In the past 8-10 days we’ve seen the Feds come in and bail out Freddie Mac and Frannie Mae, we’ve all watched as a storied financial institution, Lehman Bros. slipped into bankruptcy and Merrill Lynch…
There is an abhorrent practice occurring in our local Las Vegas Real Estate Market and around the country called “Buy and Bail” – sadly, as a Las Vegas Realtor who cares about our local market, we are seeing more transactions of this type!
“Buy and Bail” refers to someone who is in a home that is underwater; i.e. the value of the home is worth less than their mortgage, who simply…
Some people actually think as a Las Vegas Realtor we don’t do much market analysis, which is far from the truth. Here is some hard data on Las Vegas Real Estate you can take to the bank that indicates the market is close to or stabilizing:
1) Sales have remained strong contrasted with a year ago and inventory is getting pared down – we still have lots of Las Vegas Foreclosures on the market…