About Las Vegas' Astoria Homes At Rhodes Ranch

Rhodes Ranch Area Resale Market Report (homes for sale, pending and sold):

• Active Listings (9/15/2010): 325
  
• Under Contract (9/15/2010): 373
• Sold August 2010: 74
  
• Low: $51000 (The Falls - Apache Springs Condo)
• Median: $142500 (Tantara - Southwest Ranch Parcel 8)
  
• High: $375000(Rhodes Ranch)

Rhodes Ranch Area Rental Market Report (homes for rent, contingent, leased)

• Active Listings (9/15/2010): 95
  
• Under Contract (9/15/2010): 22
  
• Leased August 2010: 63
  
• Low: $700/month (The Falls - Apache Springs Condo)
• Median: $1150/month (Richmond at Rhodes Ranch)
• High: $2395/month (Rhodes Ranch)

Last Month's Market Report

Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.

Rhodes Ranch Area Community Information, Listings & Homes for Sale

Rhodes Ranch Area Most Recent Real Estate Market Report

More Las Vegas Communities Here

Trust me on the headline. If it isn't crap, it's overpriced or has 50 offers on it! I actively work this market and show homes so if someone tells you how great this market is and that you can get fantastic bargains at the moment in the REO market, they probably aren't working it! Lots of great bargains for cash buyers left, however. Many homes are unfinanceable due to condition. Hopefully we will get sizable new inventory soon!

I encourage you to click on last month's report and keep going back one month to see how the inventory situation has evolved over the last several months. You will never hear or see this on the national media and you rarely hear this in other Las Vegas Real Estate blogs. I have been reporting it weekly. There are some out there, but very few. The situation is dire for current <financed> buyers right now.

We are awaiting moratorium inventory but short sale agents have been reporting acceptances left and right. Short Sale closes were boosted (a little) this past month.

Today I was working with two buyers and in many instances there were streams of Realtors and their clients in and out of the properties all at the same time. Lines to see houses if you will. It was like Target at 6 AM the day after Thanksgiving. OK, maybe not that bad but it was something I have never seen to this magnitude before.

Inventory has fallen dramatically since last report (-2881 units), Pendings have risen +1187 units Closing data is up up up at +924 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.

REO sales accounted for 80.4% of all Las Vegas Area Valley resales in April 2009. REO listings account for only 25.2% of total resale listings.

Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.

Current Listed Bank Owned Statistics:

• Listings (5/15/2009): 3761
• Under Contract (5/15/2009): 6530
• Sold April 2009: 3114
• Absorption Rate: 1.2 Months

View Last Month's Report Here

To find the most recent report, click here

If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call: 702-966-2494:

• Option 1 if you are a Buyer wanting to purchase REO Property.
• Option 3 if you are interested in Financing your REO Property (including down payment assistance for first time buyers)
• Option 4: Para español presione el cuatro.

All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed

This Rhodes Ranch Area resale market report was generated on November 29, 2008:

• Active Listings: 459
• Under Contract: 161
• Sold 10/21-11/21/2008: 84
• Months Inventory: 5.5
• Low: $70,000; High: $3,490,000; Median: $190,000(listing prices only)

Rental Market Report generated on November 29, 2008:

• Active Listings: 108
  Under Contract: 18
• Leased 10/21/-11/21/2008: 53
• Months Inventory: 2.0

Median List Price for an area rental: $1300/month, Low: $700, High: $4500

Note: The resale market is losing steam and swinging back into a balanced market. The rental market is still a strong landlord's market.

How to read my market reports (definitions and terms!)

Last Market Report Generated November 14, 2008

Price Trend Graphs, Most Recent Market Reports, New Construction Listings, Rental Listings & Resale Listings for Rhodes Ranch Area.

Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.

For More information on the Rhodes Ranch Area: http://www.livingatrhodesranch.com/

If you would like to buy, rent or sell a home in the Rhodes Ranch Area, please call 702-966-2494.

702-966-2494 menu:

• Option 1: Buyers wanting to purchase a Rhodes Ranch Area Home
• Option 2: Renters wanting to rent a Rhodes Ranch Area Home
• Option 3: Financing Questions for Rhodes Ranch Area Buyers - Ask about 100% loans for first time buyers!
• Option 0: Sellers wanting to sell their home in the Rhodes Ranch Area: We do have a short sale specialist (with a proven track record) and a full time licensed, permitted property manager if you need to rent out your Rhodes Ranch area home!
• Option 4: Para español presione el cuatro.