Market Update on Foreclosure Homes in Las Vegas:

Foreclosure are now at an all time high in Las Vegas.

 

Foreclosure provides you with a way to purchase properties with savings up to 50% the market price of new properties. The banks need these homes off the books.

 

The Real Estate market in Las Vegas is a little different than other markets,

Low inventory (2-3 months inventory left at current selling rates) make this a seller's market, with mostly cash buyers trying to outbid each others for the prime properties.

And yet, prices indicate a buyers market, Investors are purchasing lots of properties below replacement value, mostly for two reasons,

1. Short term fix and flip  
2. To accumulate high ROI  of rental properties.

 

The low inventory is in part due to banks holding to some properties and hoping buyers would pay higher prices for the properties in the coming months.

 

Prices have remained stable for the last two months and there has been some increment in the lower priced segment, on the luxury segment prices keep falling at a lower rate, we do not know where the bottom would be-everybody that's called a bottom has been wrong-what we do know is that those who have bought rentals properties are getting a high and fast return on their investments.

Cash buyers are getting priority from the banks and they usually take their offers over those who are applying for a loan, for our first time home buyers we are mostly counting on some investors who are selling their cash buys, sometimes carrying the notes, which results in a very high gain but over an extended period of time.

 

Please provide us with the parameters of the type of property and the price you are interested, we will program it so that you receive them automatically in your e-mail as soon as they hit the market.