About Las Vegas' Concordia At Deer Springs

CASH GAINS GROUND! The percentage of cash transactions rose 5% from December 2009-January 2010 and then another 3% from January 2010-February 2010. 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!!

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Home sales activity in Concordia at Deer Springs, a neighborhood in northwest Las Vegas, NV was dismal with just one home sold in the 4th quarter of 2007. This brought the total for the year to 11 homes, down 8% from the 12 homes sold in 2006.

An existing resale inventory of 7 homes (plus 3 with accepted offers) strongly favors buyers. Homes in Concordia at Deer Springs have convenient access to the I-215 Beltway and are close to Red Rock and Mount Charleston for plenty of outdoor recreation fun.

Here are the details of the fourth quarter sale:

(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale Price adjusted for any seller contributions. DOM = Days on Market)

Concordia at Deer Springs consists of one and two-story homes from 1,292 to nearly 2,000 square feet built from 2003 to 2005. For more information, or to buy or sell a home in Concordia at Deer Springs, contact John Novak at (702) 339-9700 or JohnNovak@kw.com.

See also:
Concordia at Deer Springs market report - 3rd quarter, 2007
Concordia at Deer Springs market report - 2nd quarter, 2007
Concordia at Deer Springs market report - 1st quarter, 2007

Las Vegas real estate - December, 2007 market statistics
Las Vegas real estate - November, 2007 market statistics
Las Vegas real estate - October, 2007 market statistics