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North Las Vegas, NV Real Estate News

By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
North Las Vegas Real Estate Market Breakdown In last week's look at 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 2.9 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/May Sales = Absorption Rate). There are only six weeks of REO inventory, but almost five mo...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Cash or Credit for Your REO Purchase? 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 litigat...
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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 For May 2010, there were 660 home sales in North Las Vegas with a median price of $127,000. Of those, 608 were single-family homes with a median price of $131,250. Here's a quick look at price, volume and financing trends in the North Las Vegas real estate market. In 2009 there were a total of 9,207 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, 1839 square foot home with a selling price of $129,900. The median selling price for a single-family home fell by 19.4% during the year, from $155,000 to $125,000. To find out more about buying or selling real estate in North Las Vegas, just give me a ...
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By Glena Dee
(C21 Aadvantage Gold - Short Sales & Forclosures)
Normally, when I show homes to my clients, I would preview them first, but this one particular instance, my client had sent me a list of homes to view...of course, most of them were already on "C" status, but one property is still available and it is listed as Bank Owned so we can see it immediately.  I told her, maybe I should go and look at the property first, but she insisted that there is no need to, they want to see the property now, and therefore, I printed the full view report and went off to meet them.  We got to the property and as I opened the door, I backed out.  The house was so PUNGENT...with urine...I cannot tell which...is it human or dog urine?  The stench was so repugnant that it burned my nostrils even after five hours from that showing. Anyway, my client and her husba...
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By Glena Dee
(C21 Aadvantage Gold - Short Sales & Forclosures)
200 points got deducted for editing my profile?!! I just basically overhauled my profile...not really deducting the number of words...I might have added more, in fact.  Why did my points go away? I think that I better learn how AR works or I may never get the hang of this.  LOL!  Two days ago, I lost 200 - 400 points when I erased a couple of my blogs.  I thought I was helping by removing some old posts. Yikes! I have been with AR far longer than some of us here, but never really bother to check this out until I attended the Las vegas Active Rain, however, ti took awhile to concentrate on this also because of the C21 PEP program, where I sat down and market for 10 weeks.  I won the C21 Aadvatage Gold PEP Award and got my free pass to the 2011 March Conference at the Orleans Casino, but ...
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By Glena Dee
(C21 Aadvantage Gold - Short Sales & Forclosures)
I thought that I should already have 6,000 points in AR today, but some of my points got deducted.  Does deleting some of my posts count against me?  LOL! 
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By Glena Dee
(C21 Aadvantage Gold - Short Sales & Forclosures)
I do not know how many of us here are having the same experience as I have, but I notice that Bank of America has speed up the process of their short sale approval and they are much, much easier to deal with now. My colleague at work is also experiencing the same thing.  I have two deals...both have 1st and 2nd mortgages that I have submitted to Bank of America...one was last month and the other one was only submitted two weeks ago.  Both have already been countered. I am waiting for the response from the buyer's side and hope that I will get a favorable answer today.  I also have another deal which is being negotiated through a law firm hired by my client and this is already going on for almost three months with Indy Mac, yet there has been no negotiations yet.  The file is still under...
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By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Area June 15, 2010 Active Listings by Type REO:  2146 (20%) Short Sale:  4559 (43%) All Other:  3843 (37%) May 2010 Sales by Type: REO:  1464 (42%) Short Sale:  1039 (29%) Other:  1010 (29%) 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 (scroll to bottom)
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  Sun City Aliante Real Estate and Active Adult Living - Age Restricted Located in Aliante, a North Las Vegas master-planned community, Sun City Aliante is almost directly North of the world-famous Las Vegas Strip.  Amenities include a clubhouse with conference rooms, an indoor swimming pool, game & hobby areas, billiard tables, fitness center, computer lab, tennis and bocce courts, horseshoe courts and walking trails with scenic views of Aliante Golf Course interweaving the community.  Clubhouse activities include Aerobics, Aqua Aerobics,  Line Dancing,Pilates, Power Hour,  Yoga and Zumba. Chartered Clubs and Special Interest Groups include Art Workshop, Afternoon games , AQliante Steppers,Beading & Jewelry Making, Bocce, Book Club,  Bunco, Party Bridge,Ceramics, Contract Bridge Club, ...
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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 Out of 608 single-family homes sold in North Las Vegas in May, 169 (27.8%) were cash sales. At prices below $100,000 cash accounted for 46.0% of sales, accenting the intense competition that first-time homebuyers face from investors. The higher rate of VA financing relative to other areas of the valley can be explained by 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)
What is the Difference Between a "Pending Offer" & "Contingent Offer" With the Las Vegas Residential Real Estate market bearing tight inventory and buyers all around us, searching IDX sites for Las Vegas Area Homes for Sale has become common ground in the current environment. Buyers feel slighted and think we are hiding inventory so they have a need to go behind our backs and try to find the holy grail. Unfortunately on many popular home search and IDX sites, inventory that is "under contract" is not hidden.  It is still there with small words to give status updates.  For the Las Vegas market those words are "contingent offer" and "pending offer".  Buyers often ask me:  How can I tell the difference between available inventory and what is the difference between pending and contingent. ...
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This week's feature is on a community in North Las Vegas called Eldorado. It is located in the 89031 and 89084 zip codes. It is North Las Vegas's first Master Planned Community that started building homes roughly starting in 1989 and is still currently building homes. The whole community is roughly over 1000 acres in size. There is still currently about 110 acres of land that hasn't been developed yet, along with 2 communities that the builder is still selling brand new in the Eldorado Highlands section. View Eldorado Community North Las Vegas in a larger map Eldorado features 2 large community parks, Seastrand and Eldorado parks, with Eldorado park sharing space with Lee Antonello elementary school. On the southern edge of Eldorado is 2 shopping plazas where you will find your nearest ...
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By Rich Mendonca
(Keller Williams)
This week's feature is on a community in North Las Vegas called Madera. It is located in the 89031 zip code and is close to Sandstone Ridge Park and numerous shopping centers. View Madera Community in North Las Vegas in a larger map House's in this subdivision range from about 1200 square feet all the way up to over 2800 square feet. There are 259 homes in this subdivision. This is a picture taken from Sandstone Ridge Park looking into one of the entrances into Madera. Currently there are 4 homes listed for sale and 7 homes are under contract to close very soon. Current sales prices range from a low of $85,000 to a high of $289,900 at the moment. In May there was 1 closings in the neighborhood. That brings houses closed in the community to 12 for the first 5 months of the year so far.
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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 Here's a summary of the single-family homes for sale in North Las Vegas. Short sales are responsible for 49.4% of the inventory, while bank owned properties (REOs) equal 20.6%. 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 Real Estate Report The North Las Vegas real estate market continued to slip in May after an encouraging first quarter. Year-over-year sales fell by 16.1% with 657 North Las Vegas homes sold in May, compared to 783 in 2009. This pretty much insures that first half sales will not keep pace with 2009 results.   The median selling price for single-family homes in North Las Vegas is down 2.8% from May 2009 to May 2010. At $131,250 this if the first time in a year that it has broken out of the range from $125,000 to $130,000. GLVAR deems information reliable but not guaranteed. Information is for MLS areas 101-103. Previous North Las Vegas real estate reports:     North Las Vegas Real Estate Report - April, 2010     North Las Vegas Real Estate Report - March, 2010     North La...
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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: April 2010:  2210 March 2010:  2269 February 2010:  2100 January 2010 1784 December 2009:  1713 November 2009:  1691 October 2009:  2015 September 2009:  1849 August 2009:  2011 July 2009:  2029 June 2009:  1853 May 2009:  1760  Average Monthly Rental Rates: April 2010:  $1413 March 2010:  $1193 February 2010:  $1731 January 2010:  $1582 December 1009:  $1313 November 2009:  $1313 October 2009:  $1264 S...
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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 Homes in North Las Vegas saw average selling prices rise 8.49% in April. The median selling price rose 4.00%. For the first four months of 2010, the average selling price for North Las Vegas homes is up 5.34%, while the median selling price has risen 1.56%. The number of North Las Vegas homes sold is even year-over-year with 2,366 sales in 2010 versus 2,371 in 2009.   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 Lori Ballen, Digital Marketing Strategist
(Keller Williams Las Vegas)
702-604-7739 - www.cbwardley.com/properties - Coldwell Banker Wardley Details   Photo Gallery   View Rooms                           89030-North Las Vegas (Casa Linda) FOR SALE$115,000 Corner Lot - POOL Coldwell Banker Wardley Real Estate Coldwell Banker WardleyEmail Coldwell BankerWork: 702-604-7739 More Photos(7) 1 Quick Links                     Virtual Tour   Request More Info Email Listing More Photos(7) Details   Address: 4404 Ryder Type: Residential Style: Single Story Bedrooms: 4 Bathrooms: 2 Suite: No Living Area: 1,628 square feet Year Built: 0 More Details   Description   WOW. UPGRADED HOME AND WELL MAINTAINED, PRIDE OF OWNERSHIP. REFRESHING POOL FOR THOSE HOT SUMMER DAYS. RV PARKING. MUST SEE!!More Description     Brokered and Advertised by Coldwell Banker Wardley Real Esta...
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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 (5/15/2010):  22 Under Contract (5/15/2010): 41 Sold April 2010:  9 Sun City Aliante is currently enjoying a stable to buyer's market. Since Last Month's Report:  Aliante Sun City, North Las Vegas Listings DOWN -12, Contracted Homes UP +6, Sales UP +1 Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Es...
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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 Breakdown In Thursday's look at 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 2.4 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/April Sales = Absorption Rate). There is only one month of REO inventory, but over four mont...
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