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Henderson Nevada Bank Owned Homes: Inventory Update, 09-12-09

The widely speculated "second wave" of inventory never hit the Henderson Nevada bank owned homes market this summer. This is confirmed by looking at the numbers below, and seeing that the available REO listings have decreased by about 15% since the beginning of August.

I also heard some interesting news this week. One of our local REO agents said that a major bank was moving asset managers from their REO division over to loss mitigation. This may be a signal that banks are shifting to working with existing homeowners rather than pursuing foreclosures.
  

Henderson Nevada REO Inventory, 09-12-09

  Total Listings REO Listings % REO Total Escrows REO Escrows % REO
Single Family            
09/12 1484 214 14.4% 1543 433 28.1%
09/05 1498 229 15.3% 1505 419 27.8%
08/23 1520 250 16.5% 1492 419 28.1%
08/15 1511 243 16.1% 1481 421 28.4%
08/01 1492 242 16.2% 1427 407 28.5%
Condominium            
09/12

180

 42 23.3% 198 69 34.9%
09/05

173

 40 23.1% 201 72 35.8%
08/23 180 44 24.4% 202 79 39.1%
08/15 190 52 27.4% 202 80 39.6%
08/01 189 56 29.6% 202 85 42.1%
Townhouse            
09/12 123 28 22.8% 188 74 39.4%
09/05 124 33 26.6% 184 71 38.6%
08/23 134 38 28.4% 169 60 35.5%
08/15 132 38 28.8% 159 54 34.0%
08/01 137 40 29.2% 149 51 34.2%

 

For the present, the Henderson REO market remains extremely competitive for buyers. List prices may or may not be accurate, and there are plenty of multiple offer situations where the banks call for 'highest and best.'

If you're looking for a Henderson bank owned home, be ready to write several offers and go above list price. Inventory is down slightly, and there is still a large pool of first time buyers and investors looking for homes.

For 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!

Posted Saturday Sep 12