We have an informative page on our web site about a Las Vegas Short Sale but we think it’s important to publicize and educate investors and potential homeowners about this type of a specialized real estate transaction.
Las Vegas Short Sales are increasing as more and more homeowners are “underwater” on their homes (owe more than its appraisal value) and banks are so busy dealing with foreclosures they are becoming more receptive to a Las Vegas Short Sale. Nationwide approximately 10-15% of homeowners are underwater n their homes and these percentages are comparable to the Las Vegas Real Estate Market.
What is a Las Vegas Short Sale? It is simply a transaction that occurs when a lender agrees to accept less than what is owed on a home. The real estate transaction can take anywhere from a few weeks to several months to complete. As a result, many people do not want to deal with them, resulting typically in less competition for this type of a transaction.
Another positive point about a Las Vegas Short Sale is the homeowner is typically living in the home and it is well maintained, unlike some of the foreclosures you may see out in the market.
Finally and most importantly, work with a Realtor who is willing to handle a Las Vegas Short Sale and understands the inherent complexities. For more detailed information please visit our web site or call 877.360.2030 or info@lasvegasrelocation For Twitter: RuthAhlbrand
