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Ca$h or Credit: Las Vegas NV Area REO Financing Profiles for September 2011 (includes Henderson & North Las Vegas)

REO Financing Profile for Las Vegas Area

REO Financing Profile for Las Vegas Area

Cash is the obvious dominator with overall Las Vegas Area REO Purchases. Cash not only dominates but CRUSHES financed purchases under $75000. The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing.

Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.)

Condo financing is currently a challenge in the Las Vegas Area. Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community. To determine if a condo is eligible for financing, a condo certification may be ordered from the HOA (this does cost money) and have it run by an underwriter.

Whether you are all cash or a financed buyer, you can search Las Vegas Area (Henderson & North Las Vegas too) homes right here for free and no obligation!

View other REO Stats for the Las Vegas Valley!

Last Month's Las Vegas Area REO Financing Profile Report

Learn More About Buying Las Vegas REO

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 6 commentsRenée Donohue • November 10 2011 12:38PM

Comments

When I look at the way you do Stats I can get a real picture of the community.  I like following your posts

Posted by Larry Lawfer, "I listen for a living." It's all about you. (YourStories Realty Group) almost 7 years ago

Shack Diva, it was so nice of Cash to give up a little bit of it's hold to FHA.  Conventional still lags behind.  C'mon lenders, where's your sense of adventure?  Broker Burrows needs a hand out here!

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) almost 7 years ago

Renee  I understand your details about why properties under 75,000 are selling for cash, nut the percentage still boggles my mind

Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Executives) almost 7 years ago

I would say cash will be dominator for a long time to come.

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 ) almost 7 years ago

Hi Renee, Your market is so different from ours, but it's interesting to see what's happening around the country. Happy 11/11/11!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 7 years ago

Thank you everyone for the comments!

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

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