Localism: Las Vegas Area Auction Update from my Buyer's Agent

We are representing several buyers at today's auctions.

He just called me and told me it is PACKED and some of these homes are going for incredibly low prices even with the amount of buyers.

He said they are going by area and the older homes are up first and it doesn't appear that there is too much interest in the older homes. Older in Las Vegas area are homes built in the 50s and 60s by the way!

It will be interesting to hear from him as the day goes on! His buyers are mainly interested in the NW from the Lakes to north of Summerlin (before the new master planned community of Providence.)

I will keep the updates going on this post. There will be more auctions in April so I will let you know when I get more details on that. These auctions will not affect MLS market statistics as they were mainly expired listings.

Posted Saturday Mar 22

(03/22/08 12:48PM) — San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO

Hi Renee, I just sold a client's home here in SD and they relocating to LV. I tried to refer them to you and discovered that they had already established ( from over a year ago) a relationship. Sorry, next time I hope.

It will be interesting to see how it goes in representing your Buyer at auction. I hope you are successful. I will watch to read that your Buyer made the winning bid. Perhaps you will detail out what all was involved in the process.

All the Best!

(03/22/08 01:31PM) — Jeff Dowler ~ Carlsbad Real Estate

I'll be interested, too, Renee. Hey, how about a short video of the action?

Jeff

(03/22/08 01:47PM) — Steve Scheer - Denver Real Estate - Highlands Ranch Real Estate

I am interesting in hearing a follow up on this as well Renee.

(03/22/08 08:20PM) — Lowell Caro Jr - Real Estate Market Advisor

Hi Renee, Thanks for taking the time to chat. I enjoyed it as well. I'm sure we'll cross path again in the near future! In the meantime, I'll keep watching your blog and learning! :)

(03/22/08 08:23PM) — Crossville TN Real Estate Melissa Grant Lake Tansi & Fairfield Glade Waterfront

I would like to hear a follow up on this as well ! Hope you have a wonderful Easter !

(03/24/08 01:09AM) — Marlene Scheffer, Realtor to Kitsap County, WA

I'd be really interested in knowing what an average 1968 or 1970 home sold for at the auction.....

Also, did any of your buyers get a home there today?

(03/24/08 06:40AM) — Neal Bloom-Realtor ® Assoc.-CRS-Weston FL

I'm a bit skeptical about these auctions...it seems easy but I wonder how much they get out of you besides the price.

(03/24/08 02:11PM) — Nashville Real Estate - Larry Brewer

I'm surprised that you have many homes older than 30 years old. Maybe I need to visit more often.

(03/24/08 02:34PM) — Greg Knowles Santa Barbara Ca.

Renee, don't leave us hanging! How did it go? Did you win any of the auctions? You are probably too busy to update us since you are opening a bunch of escrows this morning.