A Las Vegas Short Sale occurs when a bank agrees to take less than what is owned on a home/property. It’s a win/win for all parties, the seller salvages some of their credit, the buyer/investor gets a good deal and the bank doesn’t have to take possession of the home and foreclose on the owner.
According to the MLS data about 39 percent of total number of listings are bank owned (REO) properties. The REO’s now account for almost 80 percent of the existing home sales through the MLS. The Las Vegas Short Sales account for over 30 percent of the total listings but only about 9 percent of the MLS.
We believe the trend on the horizon for Las Vegas Real Estate is a Teutonic shift to a Las Vegas Short Sale. In preparation for this, we are making sure a large number of our Agents are trained and certified as Distressed Property Experts (CDPE).
The CDPE benefit to you or anyone considering purchasing a Las Vegas Short Sale is twofold; first, our Agents have been trained to handle this type of specialized real estate transcation and secondaly, our paperwork is automatically moved up to the top of the stack of paperwork at the bank.
Call us today about our CDPE certification and we will be happy to answer any questions that you might have: 877.360.2030 or Las Vegas Relocation.
