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Henderson, NV

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Las Vegas, NV Area Short Sale October 2009 Inventory Update

11-16-09
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

Las Vegas Area Short Sale Homes For Sale

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 6.5 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-116 units). Pending units have increased by +179 units. Solds have increased by +96 units.

There are many reasons for the lack of closings in this market and it is outlined in this post.

Short Sale Synopsis:

  • Listings 11/15/2009: 4475
  • Pending 11/15/2009: 8738
  • Closed October 2009: 688
  • Month's Inventory: 6.5

Short Sales Currently Account for:

  • 43% of All Las Vegas Valley Listings
  • 16% of All Las Vegas Valley Sales

Read here for the most current Las Vegas Area Short Sale Report.

Read here for last month's report on Las Vegas Area Short Sales.

If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0.

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Henderson Real Estate Market Breakdown

11-14-09
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

One week ago we looked at general trends in the Henderson Nevada real estate market. Today we'll explore the components of that market -- REOs (bank owned homes), short sales, and regular sales.

Oveall we have about 3.1 months of Henderson real estate inventory. Taking a closer look reveals three distinct markets. Here are the October figures for Henderson REOs, Henderson short sales, and 'regular' Henderson home sales.

Henderson Nevada real estate sales

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). We have about three weeks of REO inventory, and over eight months of short sales.

Distressed properties (REOs and short sales) make up just over half (53%) of our available inventory ...

Henderson Nevada homes for sale

... but account for 87% of the current escrows.

Henderson Nevada homes in escrow

To find out more about buying or selling real estate in Henderson Nevada, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 601-606.)

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Las Vegas NV Area Sold Terms & Trends for October 2009

11-13-09
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

Las Vegas Area Sold Terms - Cash, VA, FHA, Conventional Financing Types

Las Vegas Area Sold Terms - Cash, VA, FHA, Conventional Financing Types

Las Vegas Area Sold Terms - Cash, VA, FHA, Conventional Financing Types

Las Vegas Area Sold Terms - Cash, Conventional, FHA, VA, OTHER!

Although Cash lost a little ground in October (only 1%:) Cash REMAINS 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. FHA 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. The "other" category INCLUDES auction terms!!

Last Month's Report

Most Current Report (scroll to bottom of page)

18 Comments
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Southern Nevada - Las Vegas, Henderson, Summerlin - housing stats on the mend in October

11-10-09
Esko Kiuru - Las Vegas NV Mortgage Consultant
Esko Kiuru - Las Vegas NV Mortgage Consultant: Loan Officer in Las Vegas, NV
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  • Office: (702) 499-1006
  • Mobile: (702) 499-1006

Grilled seabass, Las Vegas, NVLas Vegas real estate has recently been the punching bag of many industry observers and for a good reason. Mortgage foreclosure rate here is still reaching for the moon, housing inventory remains high and the economic picture is painted in dark colors. True, mortgage rates are enticing and home prices have plunged and have together provided some hope, but a lot more needs to happen for it to reach the "normal".

What's encouraging is that the vital signs are slowly improving, with emphasis on the word slowly.

As was reported by GLVAR, or Greater Las Vegas Association of Realtors, 3,535 single-family houses were closed in October, logging a nice 5.3% boost from September. This actually translates into a 30.1% jump from a year ago, a strong show of progress. As a note of caution is the fact that much of the demand still comes from first-time buyers and opportunistic investors. They are almost exclusively feasting on the lower end of the price scale.

Southern Nevada - including Mountains Edge, Anthem, Green Valley, North Las Vegas and Southern Highlands - median home values labored higher to $139,100, a $1,100 advantage over September. It's not much but Sin City gladly takes anything at this point. The price curve is in essence trying to establish some kind of a steady course upward, taking one small step at a time. On the sobering side, it is still down 26.8% from last year.

The housing inventory in Las Vegas continues to hover above the psychologically important barrier of 20,000. In October it in fact grew a little, to 20,998, amounting to an about 1% rise. As GLVAR states, a large share of this is pending a sale in some form, which is good, leaving only 8,000 or so listings without a contract. Nevertheless, this statistic has remained stubbornly high for months on end and needs to come down for a chance to spawn a sustainable recovery.

The word optimism is slowly returning to the vocabulary of many Southern Nevada real estate observers. Much more needs to be done but it's good get a taste of it anyway.

10 Comments
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Sun City Anthem (Henderson, NV) Real Estate Market Report for September 2009 (Homes For Sale/Under Contract/Sold)

11-09-09
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR
Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.

Sun City Anthem Homes for Sale

Sun City Anthem is located in the Anthem Area of Henderson, NV (zip 89052 and 90-44). There are 7312 Homes in Sun City Anthem ranging from 1080-4567 Square Feet. Community Amenities Include: Community Golf, Gym, Pool, Spa, Tennis, Clubhouse and Recroom

Sun City Anthem Market Report:

  • Listings (10/15/2009): 131
  • Under Contract (10/15/2009): 73
  • Sold September 2009: 26
  • Absorption Rate: 5.0 Months of Inventory

Sun City Anthem is currently enjoying a stable market.

Senior Real Estate SpecialistRenee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate experience. If you need a referral to a Probate or Estate lawyer, please contact me!

Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program.

By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.

For Last Month's Las Vegas - Henderson - North Las Vegas Sun Cities Market Report Please Click Here!

For Most Current Sun Cities Market Report Click Here

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