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About Las Vegas' Mountain's Edge

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Mountain's Edge Price Reduction Report - Las Vegas, NV

03-10-12
Daryl B. DeShaw
Daryl B. DeShaw: Real Estate Brokerage in Las Vegas, NV
  • view my blog
  • Office: (877) 583-5058
  • Mobile: (702) 942-2031

Contact us to receive a Market Snapshot of your area of interest in Southern Nevada. Think of the Daniels-DeShaw Group when you or anyone you know is considering buying a home, selling a home, or investing in real estate in Nevada, Arizona, California, or Utah. Residential, Luxury, Commercial, Leasing, Property Management.


Attorney assisted Short Sales with no out of pocket to the Seller!

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Mountain's Edge (Las Vegas NV) Real Estate Market Report & Homes for Sale January 2012

03-10-12
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

Mountains Edge Homes For Sale

Mountain's Edge Homes for Sale

Mountain's Edge Real Estate Market Report & Absorption Rate

Mountain's Edge January 2012 Real Estate Resale Market Report:

  • Listings (2/15/2012): 176
  • Under Contract (2/15/2012): 324
  • Sold January 2012: 79

Since Last Month: Listings are DOWN -30, Pendings are UP +13, Sales are DOWN -8

Last Month's Mountain's Edge Market Report

View Mountain's Edge Homes For Sale Here (Updated Daily)

More Information on Mountain's Edge Real Estate Here

More Las Vegas Communities Here

3 Comments
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2012 Market Trends: Las Vegas Residential REO Inventory

02-28-12
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

2012 Las Vegas Real Estate Market Trends: REO Inventory

Las Vegas 2012 Real Estate Market Trends: REO/Bank Owned Inventory

Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of. My 2012 Las Vegas real estate market trends predictions will depend on several factors:

  • Steady interest rates
  • Steady underwriting guidelines (LOL!)
  • Current laws
  • Current market conditions
Las Vegas REO/Bank Owned Inventory has declined over several years. I believe much of this has to do with extreme high buyer activity, larger amounts of short sale closings, perhaps (this one is purely speculative for me) trustee sale purchases for flip and for hold and then FINALLY the most recent major factor is AB 284.
My prediction for Las Vegas REO inventory in 2012 is that it will continue to dwindle unless AB 284 is repealed. This doesn't mean that our foreclosure mess is ending, it means it is just stalled and the recovery will drag on for longer than it would have lasted prior to implementation of AB 284.
Many are estimating that the foreclosure timeline process in NV has been moved from 6-8 months to 2-3 years due to this new law.
As always, time will only tell what will really happen when this is all done and over with.
(PS: Some months are blank because I did not report on those months in the past on a consistent basis.)
9 Comments
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2012 Market Trends: Las Vegas Residential Resale Home Prices

02-25-12
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

2012 Market Trends: Las Vegas Residential Resale Home Prices

Las Vegas 2012 Real Estate Market Trends: Prices

Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of.

I bet when you opened this post, you thought I was going to give you a concrete answer about Las Vegas residential real estate pricing trends for 2012.

Nothing can be further from the truth since the Las Vegas real estate market seems to love to defy the basic laws of supply and demand. My 2012 Las Vegas real estate market trendspredictions will depend on several factors:

  • Steady interest rates
  • Steady underwriting guidelines (LOL!)
  • Current laws
  • Current market conditions
AB 284 is beginning to wreak havoc on our current Las Vegas real estate inventory situation. Our inventory is at EXTREME low levels. HOWEVER, it has been at low levels (not this extreme though) for 3 years. As you can see by the graph above, prices still dropped during that time frame. We did have some slight appreciation between May 2009-May 2010 when the first time buyer's tax credit was around and inventory levels were comparable. Please note, I said "slight". Like less than 5% slight. It didn't last long after the tax credit expired and we had a momentary lapse with a slight inventory increase.
Our inventory has been decreasing for 14 months in a row and in even bigger chunks since AB 284 was implemented Oct 1, 2011. Right now, standard sellers are pushing the envelope by listing their homes 5-10% above recent closed prices AND getting a flurry of activity along with multiple offers.
I do believe that if AB 284 doesn't get repealed, interest rates stay the same, buyer activity stays the same, underwriting guidelines stay the same (yadda yadda yadda,) that we could see 5-10% appreciation in the next year. ESPECIALLY if inventory levels decrease to 2004 (boom year) levels.
One thing is about 99.9% certain - Las Vegas home buyers are sensitive to low prices and bargains. So are appraisers on financed purchases. I don't think we could see 2004 appreciation if we see 2004 inventory levels come back. The buyers will more than likely wait for the shadow inventory to come online if their housing needs are not urgent. Even if it takes 2-3 years.
11 Comments
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Mountain's Edge (Las Vegas NV) Real Estate Market Report & Homes for Sale December 2011

02-12-12
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com
Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com: Real Estate Agent in Las Vegas, NV
  • view my blog
  • Office: (702) 966-2494 x0
  • Mobile: (702) 580-1783
  • Secondary: (702) 966-2494

Mountains Edge Homes For Sale

Mountain's Edge Homes for Sale

Mountain's Edge Real Estate Market Report & Absorption Rate

Mountain's Edge December 2011 Real Estate Resale Market Report:

  • Listings (1/15/2012): 206
  • Under Contract (1/15/2012): 311
  • Sold December 2011: 88

Since Last Month: Listings are DOWN -4, Pendings are UP +1, Sales are UP +1

Last Month's Mountain's Edge Market Report

View Mountain's Edge Homes For Sale Here (Updated Daily)

More Information on Mountain's Edge Real Estate Here

More Las Vegas Communities Here

2 Comments