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Las Vegas Area REO Inventory has FALLEN since last report (-399 units), Under Contracts have RISEN (+42) units Closing data has FALLEN (-652) units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 60% of all Las Vegas Area Valley resale closings in January 2010. REO listings account for only 17% 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:
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