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Henderson, NV

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Henderson Nevada Bank Owned Homes: Inventory Update, 06-27-09

06-30-09
John Novak - Las Vegas and Henderson NV Real Estate
John Novak - Las Vegas and Henderson NV Real Estate: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 939-0000
  • Mobile: (702) 339-9700
  • Secondary: (702) 456-5959

Is this the calm before the storm in the Henderson Nevada bank owned homes market? Our inventory levels have shown very little movement through June. With the recent end of the foreclosure moratorium, we keep looking for signs of the "second wave" of REOs, but have not seen it yet.

Henderson Nevada REO Inventory, 06-27-09

Total Listings REO Listings % REO Total Escrows REO Escrows % REO
Single Family
06/27 1554 236 15.2% 1427 443 31.0%
06/20 1546 222 14.4% 1456 471 32.4%
06/13 1560 230 14.7% 1464 489 33.4%
06/06 1605 246 15.3% 1455 501 34.4%
Condominium
06/27 232 60 25.9% 179 100 55.9%
06/20 229 62 27.1% 183 104 56.8%
06/13 248 72 29.0% 179 100 58.5%
06/06 251 72 28.7% 171 106 62.0%
Townhouse
06/27 136 37 27.2% 156 69 44.2%
06/20 137 37 27.0% 163 74 45.4%
06/13 146 39 26.7% 149 72 48.3%
06/06 161 48 29.8% 139 66 47.5%

Because of the limited inventory and the great perceived value by both investors and first time buyers, activity on Henderson bank owned homes is extremely competitive. Be prepared to write offers on multiple properties and/or above list price if you want one of these homes.

If you'd like more info about Henderson bank owned homes or the Henderson real estate market, just give me a call at (702) 339-9700 or email me at JohnNovak@kw.com. I'm ready to go to work for you.

3 Comments
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Las Vegas NV Area Sold Terms & Trends for May 2009: Cash is King!

06-30-09
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 966-2494
  • Secondary: (702) 966-2494

Las Vegas Area Real Estate Sold Terms

Las Vegas Area Sold Terms

Las Vegas Area Sold Terms

Cash is emerging as king in the Las Vegas Area Real Estate Market!!! It is important for every buyer in the Las Vegas Area Real Estate Market to understand who their buyer competition is in this currently competitive seller's market LV is enjoying! It is important to understand how a seller looks at each financing type:

Cash Offers: Generally have less contingencies and quicker close times. A cash offer may be accepted even if it is lower than a financed offer.

Conventional Financing: Less strict with lender required repairs but larger down payments and more strict credit guidelines.

FHA/VA Financing: Requires more scrutiny with lender required repairs via appraisal. In general these take longer to underwrite and close so a cash or conventional offer looks more enticing to the seller. Requires the deed to be seasoned for several months so some flips bought at trustee's sales are generally out as options when competing with multiple offers!

Other: Less common and creative financing types such as Lease Options, OWC (Owner Will Carry), etc.

Las Vegas NV Real Estate

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Henderson Nevada Bank Owned Homes: Activity by MLS Area

06-27-09
John Novak - Las Vegas and Henderson NV Real Estate
John Novak - Las Vegas and Henderson NV Real Estate: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 939-0000
  • Mobile: (702) 339-9700
  • Secondary: (702) 456-5959

If you're looking for a Henderson Nevada bank owned home, you'll likely break down your search by areas of town. The GLVAR MLS system divides Henderson into six areas numbered 601 to 606. The table below shows that although area 606 has the lowest percentage of REO listings, it has the greatest REO activity.

Henderson Nevada REO Activity by MLS Area, 06-21-09

MLS Area Total Listings REO Listings % REO Total Escrows REO Escrows % REO
Single Family            
601 101 16 15.8% 101 43 42.6%
602 233 45 19.3% 255 86 33.7%
603 147 26 17.7% 130 50 38.5%
604 125 27 21.6% 115 46 40.0%
605 194 43 22.2% 238 88 37.0%
606 747 68 9.1% 622 157 25.2%
Condo / Townhouse            
601 48 16 33.3% 45 26 57.8%
602 67 14 20.9% 84 45 53.6%
603 127 42 33.1% 61 39 63.9%
604 10 5 50.0% 12 8 66.7%
605 45 11 24.4% 53 26 49.1%
606 71 11 15.5% 89 33 37.1%
             

 


Investors and first-time homebuyers are attracted by very low list prices, but that also creates intense competition. Several neighborhoods have bank owned homes priced at pre-2000 levels. If you're looking at Henderson REOs, be prepared to write offers on multiple properties and/or above list price. 

If you'd like more info about Henderson bank owned homes or the Henderson real estate market, just give me a call at (702) 339-9700 or email me at JohnNovak@kw.com. I'm ready to go to work for you.

1 Comment
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Green Valley Henderson Pool Home Open 6/27/2009 From 11AM-4PM

06-27-09
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 966-2494
  • Secondary: (702) 966-2494
Links
Description
For More Photos, Virtual Tour and Current Pricing Go To: www.ReneeBurrows.com/1855
Features
Bedrooms: 4
Bathrooms: 3
Year Built: 2000
Subdivision: Green Valley Ranch
Lot Size: 6981
Garage Size: 3
School District: CCSD
Square Footage: 3181
Agent Name: Renee Burrows
Broker: Nevada Realty Solutions
MLS #: 831258
Location
Powered by vFlyer.comvFlyer Id: 1690576
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Las Vegas NV Area May 2009 Rental Home Report

06-25-09
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!
Renee Burrows - Las Vegas NV. ASK ABOUT -1st Time Buyer Down Payment Assistance!: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 966-2494
  • Secondary: (702) 966-2494

Las Vegas Area Rental Homes

The rental sector has surprisingly remained stable throughout all this market turmoil!

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here.

Units Leased:

  • May 2009: 1760
  • April 2009: 1677
  • March 2009: 1825
  • February 2009: 1702
  • January 2009: 1651
  • December 2008: 1390
  • November 2008: 1405
  • October 2008: 1707
  • September 2008: 1531
  • August 2008: 1719
  • July 2008: 1697
  • June 2008 1564

Average Monthly Rental Rates:

  • May 2009: $1348
  • April 2009: $1348
  • March 2009: $1365
  • February 2009: $1419
  • January 2009: $2083
  • December 2008: $1594
  • November 2008: $1506
  • October 2008: $1393
  • September 2008: $1610
  • August 2008: $1464
  • July 2008: $1510
  • June 2008: $1503

Median Monthly Rental Rates:

  • May 2009: $1200
  • April 2009: $1200
  • March 2009: $1200
  • February 2009: $1200
  • January 2009: $1200
  • December 2008: No Data
  • November 2008: $1250
  • October 2008: $1245
  • September 2008: $1250
  • August 2008: $1250
  • July 2008: $1250
  • June 2008: $1275

Absorption Rate is stable from last month and remains a Landlord's Market at 2.7 months of inventory in the Rental Sector for the Las Vegas Valley.

How to check to see if the home you are renting is in default

Last Month's Report

If you would like to rent a home in the Las Vegas Area please call 702-966-2494 and press option 2 to speak with a rental specialist.

If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0

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