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North Las Vegas, NV Real Estate News

By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Area REO Inventory has FALLEN since last report (-144 units), Under Contracts have FALLEN by (-107) units Closing data has FALLEN by (-172) units. Low interest rates have spurred a flurry of buyer interest & activity and it continues. REO sales accounted for 50% of all Las Vegas Area Valley resale closings in October 2011. REO listings account for only 21% of total resale listings. Current Listed Bank Owned Statistics: Listings (11/15/2011): 2581 Under Contract (11/15/2011): 3183 Sold October 2011: 1884 View Last Month's Report Here For Most Current Las Vegas REO Inventory Market 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, wh...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
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 Req...
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    Real Estate Listing Alert from The Ballen Group NORTH LAS VEGAS, NV 89086 5 beds, 5 baths, $176,900 - SEE MORE HOMES Clark County School Information: Jr. / Mid: JHNS Elementary: HAYD Sr. / High: LEGACY HIGH SCHOOL AUCTION   Property Type: SINGLE City: NORTH LAS VEGAS State: NV Price: $176,900 School District: Beds: 5 Bath: 5 Sq Footage: 3804 Acres: 0.14 View More Details Request More Info Schedule Showing Market Insider - The data on this page is consolidated from multiple sources and includes current listings, recent sales, and more. Whether you're a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions. Call or email anytime to discuss how this information can benefit you!   Become a Market Insider Get FREE access to valuable market...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.) Units Leased: September 2011:  2535 August 2011: 2750 July 2011: 2396 June 2011: 2485 May 2011: 2376 April 2011: 2342 March 2011: 2307 February 2011: 2253 January 2011: 2002 December 2010: 1889 November 2010: 1887 October 2010: 2119 September 2010: 2171 Average Monthly Rental Rates: September 2011:  $1279 August 2011: $1422 July 2011: $1434 June 2011: $1765 May 2011: $1257 April 2011: $1207 March 2011: $1497 February 20...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
The absorption rate for Las Vegas Valley Area Short Sales appears to be swinging from a neutral market back to a buyer's market as fall approaches. Inventory has DECREASED by -110 units. Under Contract has INCREASED by +53 units. Sold units have DECREASED by -56 units. There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis: Listings 10/15/2011: 5911 Pending 10/15/2011: 8487 Closed September 2011: 958 Short Sales Currently Account for: 47% of All Las Vegas Valley Listings 24% of All Las Vegas Valley Sales Read here for last month's report on Las Vegas Area Short Sales. Most Current Market Report For Short Sales Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers What Areas Do You Cover for y...
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  702-604-7739 - Find homes for Sale in Nevada at http://www.BallenGroupHomes.com     POOL HOMES FOR SALE IN NORTH LAS VEGAS         North Las Vegas Homes for Sale Welcome to the North Las Vegas homes and real estate portal: your single stop for finding a home in North Las Vegas. Here you can search every available home for sale in North Las Vegas. As of today there are many homes and properties for sale that are available to search. The number of homes changes daily, so be sure to keep coming back right here, to the best site for North Las Vegas homes for sale.               Sell a home in Las Vegas Las Vegas Short Sale Information Discuss Financing Options Compare Neighborhoods INSTANTLY Meet The Ballen Group Contact The Ballen Group     702-604-7739, Luxury homes in Las Vegas , Rhod...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles. Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084). There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet. Community Amenities Include: Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom. Sun City Aliante Market Report: Listings (10/15/2011): 36 Under Contract (10/15/2011): 25 Sold September 2011: 7 Sun City Aliante is currently enjoying a seller's market. Since Last Month: Aliante Sun City, North Las Vegas Listings DOWN -9, Contracted Homes UP +6, Sales DOWN -8 For Current and Past Sun City Aliante Market Reports View Sun City Aliante Homes For Sale Here (Updated Daily) More...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Real Estate Inventory is seeing an unusually large amount of units closed for late summer. August almost broke records!  Pendings went WAY up in September.  2011 proves to be an interesting year for Las Vegas Real Estate! Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (10/15/2011): 12590 Under Contract (10/15/2011): 13212 Sold September 2011: 3978 Short Sales: 47% of Listings 24% of Sales REO (Foreclosures, Bank Owned:) 22% of Listings 52% of Sales In One Month: Listings are DOWN -483 units, Contracted Listings DOWN -121 units, Sales are DOWN -585 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HO...
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By The Myers Team | Las Vegas Top Real Estate Agents, Nobody Finds BUYERS Faster Than The MYERS
(Simply Vegas Real Estate)
Las Vegas, Nevada -  A recent report released by IMS Advanced Realty Data Services named The Myers Team the #1 Short Sale Real Estate Team in Nevada.  Number one status was determined by actual short sale listings closed in 2010. According to the report, The Myers Team with the Caliber Realty Group has closed more short sale transactions than any Realtor or Broker in Las Vegas.  The Myers Team is nationally recognized as one of the most influential figures in real estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it's a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
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...
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By Cindy Abel
(Southern Nevada Realty, LLC)
What a gorgeous Las Vegas 55+ community.  Sun City Aliante, built by Del Webb, features a community center with an indoor pool, spa, sun deck, fitness room, tennis, bocce ball and plenty of activities to keep you busy.  There is a public golf course which winds through the community. Fantastic deals are available in this North Las Vegas age restricted community which gives you easy access to the Aliante Station, Nellis AFB, I215, and shopping (Costco, Walmart, Best Buy and Target are all minutes away).  For more information about this Las Vegas 55 plus community click here. Looking for another community?  Maybe Sun City Summerlin or Sun City Anthem? How about the Las Vegas guard gated communities of Solera at Stallion Mountain Ranch or Siena?  Call me 702-807-3339 or just tell me what y...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Home Sales: Average and Median Prices - August 2011 Homes in North Las Vegas saw average selling prices move down by just over $2,000 in August on an increase in units sold of 16.35%. The median selling price also fell $2,000 and is down $5,000 from $115,000 at the beginning of the year. The number of North Las Vegas homes sold is up 19.77% year over year, with 733 homes sold in August 2011 compared to 612 sales in 2010.   To find out more about buying or selling real estate in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.)
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Real Estate Market Report - REOs, Short Sales and Regular Sales - August 2011 In my previous post about the North Las Vegas real estate market, I highlighted sales price, volume, and financing trends. Today I'll break down the different listing types of that market -- REOs (bank owned homes), short sales, and regular sales. Overall we have about 3.1 months of North Las Vegas real estate inventory. When we look at each of the listing types, we see that there are three distinct markets. Here are the current figures for North Las Vegas REOs, North Las Vegas short sales, and 'regular' North Las Vegas home sales. Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There ...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Real Estate Trends - August 2011 For August 2011, there were 780 home sales in North Las Vegas with a median price of $107,750. Of those, 733 were single-family homes with a median price of $110,000. This is well ahead of last year's pace of 612 sales; however, the median price has fallen by 15.4% from $130,000. Here's a quick look at price, volume and financing trends in the North Las Vegas real estate market.   In 2010 there were a total of 7,839 homes sold in North Las Vegas. This area is north of Charleston Boulevard, east of Rancho Road, and west of the I-15 freeway, and includes most of the city of North Las Vegas. The median sale was a 3-bedroom, 1814 square foot home with a selling price of $123,900. The median selling price for a single-family home fell by 4.7% ...
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By Bill Ness, 55Places.com, Active Adult Community Guide
(55Places.com)
Tucked away from the hustle and bustle of Las Vegas is the gated, active adult community known as Ardiente by Shea Homes.  This intimate sized 55+ community of just 788 homes features beautiful architectural details, attractively priced homes and a wonderful collection of amenities, all in an ideal North Las Vegas location. Ardiente originally opened in 2005 by Centex Homes before being purchased by Shea Homes in 2010. Interested home buyers can choose from resale homes or new the new, energy efficient, Shea Homes floor plans.  The original Centex Homes were available in eight, single story floor plans sized from 1,235 to 2,352 square feet. The largest of which also offered an optional second story loft bringing the overall size up to 2,832 square feet.  The Shea homes are available in ...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Here is what buyers received in seller paid concessions on August 2011 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes: Less than $500: 69% ($500 only buys you a home warranty or (no and) an appraisal) Between $501-4000: 20% Over $4001: 11% This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory! Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs! Last Month's Concession Stand Most Current Concession Stand 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...
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Homes For Sale: Listings by Price Range - September 29, 2011 Here's a summary of the single-family homes for sale in North Las Vegas. Short sales make up 56.0% of the inventory (up from 54.9% last month), while bank owned properties (REOs) equal 20.8% (down from 23.1%). This is the highest percentage of distressed properties in the Las Vegas valley.   To find out more about buying or selling homes in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.)
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Home Sales: Financing by Price Range - August 2011 Out of 733 single-family homes sold in North Las Vegas in August, 274 (37.4%) were cash sales. At prices below $100,000 cash accounted for 55.1% of sales, as investors continue to recognize great values and a strong rental market. FHA and Conventional loans are popular choices for homes over $100,000. The higher rate of VA financing relative to other areas of the valley is a result of the proximity of Nellis Air Force Base. To find out more about buying or selling homes in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.)
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Area September 15, 2011 Active Listings by Type REO: 3060 (23%) Short Sale: 6021 (46%) All Other: 3992 (31%)   August 2011 Sales by Type: REO: 2399 (53%) Short Sale: 1014 (22%) Other: 1150 (25%) This is just a guide for consumers to see what types of properties are closing vs what is listed. Currently we have the most closes in the REO sector and the least inventory in the REO sector and it is an extreme seller's market. Click here to see last month's Listing and Sales Type Report Click here to view the most recent stats 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...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
**Sales UP UP UP in August!!!** We are still squeezed for inventory. Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity". Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post. Las Vegas Area Real Estate Market Watch was created for informational purposes only. This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online! This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spr...
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