A Las Vegas Short Sale Agent is certainly in demand in our market. Las Vegas Real Estate is starting to appreciate and recovery is the word many professionals are using in daily conversations. Our real estate market has been one of the most dynamic markets in the world and we believe the pendulum is finally swinging back to the positive side of the ledger.
Las Vegas Bouncing Back
Our DNA here in Las Vegas has always been to bounce back from any set backs and we can see this reflected in the attitudes and actions of many local businesses. Our market statistics dovetail with our “can do” attitude – in April the median price of a Las Vegas home increased to $142,000. This represents a 0.2% from a year ago at this time and approximately 4.4% from this March.
Las Vegas Short Sale Agent Analysis
Investors/Homeowners, our market is shifting from Foreclosures to Las Vegas Short sales, with 27% of homes sold in April being Short Sales. This means people are staying in their homes, going to their banks and negotiating a Las Vegas Short Sale. This is positive for our local neighborhoods and overall market and also indicates banks are finally waking up and realizing they need to work with distressed homeowners.
Our homes are not sitting on the market long! Approximately 68% of our homes sold within 60 days – this is healthy and means Las Vegas Real Estate is starting to return to a more normal sales pattern as well. National and local media talk about the threat of a hidden “Foreclosure Overhang” but this isn’t our assessment. We need more inventory moving forward, especially if prices continue to improve, which will motivate people to get off the sidelines and move back into the market.
Investors are buying lots of Las Vegas Real Estate – this trend is continuing and accelerating and we don’t see this changing any time soon. Case in point, 43.3% of our homes were sold to cash buyers and many were from out of the state, with some per centage of these from outside the U.S.
So, in closing what does this mean to you? Foreclosures are diminishing and short sales are in vogue - if you are going to work with a Realtor we hope it will be a Las Vegas Short Sale Agent here at RE/MAX Central!
