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Las Vegas NV Area Sold Terms & Trends June 2011 (includes Henderson & North Las Vegas)

las vegas area homes for sale

Las Vegas Area Homes for Sale

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 Las Vegas Sold Terms and Trends Report

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 12 commentsRenée Donohue • July 20 2011 04:11PM

Comments

This is excellent information Renee and proof positive why Las Vegas residents can rely on you!

Posted by Vic Steele, Broker/Consultant (Vic Steele, Broker CA BRE 01349863) about 7 years ago

Renee, the information you provide on your Las Vegas real estate market is always well presented and easy to understand.  I sure wish I had your computer skills. 

Posted by Juli Vosmik, Scottsdale/Cave Creek, AZ real estate 480-710-0739 (Dominion Fine Properties) about 7 years ago

Such a unique report and a surprise (to me) that 50% are cash deals.  We are no where near that number. 

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) about 7 years ago

Wow, Renee, half the transactions are cash?  I also keep seeing 'seller's' market in your reports so you're keeping that absorption rate low.  I love to read your reports because I know I can get the ACCURATE info, unlike what I hear from the national media.

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (RealtyQuest/Kinard Realty Group, Fairfield and New Haven County CT Real Estate) about 7 years ago

Thank you all for the comments!

Barbara - can't tell you what a challenge it is to get offers accepted in this silly market!  Especially financed buyers competing with cash buyers!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) about 7 years ago

Renee

It is amazing how strong and common cash is in your market

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) about 7 years ago

Cash is always king, except of course, compared to gold, and then it might lose. I keep waiting for the day when we trade gold bars for houses. They way our treasury keeps printing money, cash will be worthless soon.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) about 7 years ago

Hi Renee - cash is definitely king, and I can imagine in the Las Vegas, NV market, investors and buyers are stronger with cash offers.

Posted by Sharon Paxson, Newport Beach Real Estate (Compass) about 7 years ago

Renee, the cash deals did surprise me. As far as our local market in New Orleans we are not seeing that trend. 

Posted by Frank Rubi, FrankRubiRealEstate.com (Frank Rubi Real Estate, LLC) about 7 years ago

Renee: We see many cash sales in the Adult Communities in Phoenix but I was floored by the amount of Cash transactions. I would venture to guess the majority of cash sales are investors.

Posted by Surprise Arizona Realtor Jim Braun Sun City Grand Active Adult Communities, Surprise AZ real estate Phoenix West Valley (Coldwell Banker Residential Brokerage Jim Braun Sun City Grand Az ) about 7 years ago

Cash is doing well here also.  I personally have been seeing more loans go through in the last month or so.  Some of the issues have been getting just slightly better such as: appraisals, inspections, etc. 

Posted by Bob Jakowinicz, Michigan Real Estate Agent-- MI RE Adventures (National Realty Centers Livonia--Bob Jakowinicz) about 7 years ago

Thanks all for the comments!

Jim:  You should win a prize because your answer is correct!  Lots of investors in our market!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) about 7 years ago

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