The Temperature Is Hot and The Las Vegas Real Estate Market Is Hot. For example, this weekend John was showing homes to homebuyers from China. They said the home prices in China are doubling and tripling for no apparent reason. They are going to buy two maybe three homes for their family members.
John called a listing agent to find out if a home was available. The listing agent said that she had 30 offers on that home! Agent after agent that John called had from 5 to 30 offers on their listings. Why??? It is the affordable price of $125,000 to $150,000. The homes have up to 2200 square feet, in good locations, less than 7 years old, and near schools, shopping, parks, and within 20 minutes of the business districts and the hotels and casinos.
Friday’s Review Journal said that Las Vegas foreclosure listings will undoubtedly increase in the next six months as banks release more foreclosures. Politically speaking, the increase will probably happened after November elections.
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