http://timkuptz.wordpress.com/2008/03/20/las-vegas-real-estate-market-snapshot-3172008/ Las Vegas Real Estate Statistics and News Fri, 13 Nov 2009 01:46:37 +0000 http://wordpress.com/ hourly 1 http://timkuptz.wordpress.com/2008/03/20/las-vegas-real-estate-market-snapshot-3172008/#comment-49 Jacob Mitro Mon, 24 Mar 2008 22:04:14 +0000 http://timkuptz.wordpress.com/?p=61#comment-49 You know I was following a property that was sold at the REDC auction back in December 07.... We were negoitiating with a bank for a similar property in the same neighborhood. The buyer that won the auction on this particular property paid $45,000 more than we had gotten the bank to take on the other property the month before. That's right I said more, and not just for a few dollars more...If you also take into consideration that this buyer also had to pay an additional 5% auctioneers fee and closing costs, you can see why it is important for you to get an agent today and go make bids on some of these REO homes and skip the auctions. I am sure the buyer that won the home at the auction still thinks he got a great deal, and they really did. If they had had an agent they would have known when to quit bidding though. You know I was following a property that was sold at the REDC auction back in December 07…. We were negoitiating with a bank for a similar property in the same neighborhood. The buyer that won the auction on this particular property paid $45,000 more than we had gotten the bank to take on the other property the month before. That’s right I said more, and not just for a few dollars more…If you also take into consideration that this buyer also had to pay an additional 5% auctioneers fee and closing costs, you can see why it is important for you to get an agent today and go make bids on some of these REO homes and skip the auctions. I am sure the buyer that won the home at the auction still thinks he got a great deal, and they really did. If they had had an agent they would have known when to quit bidding though.

]]> http://timkuptz.wordpress.com/2008/03/20/las-vegas-real-estate-market-snapshot-3172008/#comment-47 Bridget Magnus » Don’t Make Things Harder! Fri, 21 Mar 2008 19:07:54 +0000 http://timkuptz.wordpress.com/?p=61#comment-47 [...] At the beginning of this week, there were over 17,700 single family homes available and another 4700....  Half of them are vacant;  almost one in 5 is a “short sale” where the mortgage balance is greater than the purchase price. These people need to sell their homes, and they need to do it quickly.  Just short of 1 in every 10 listings is bank-owned (REO), and they account for over half our sales!  That isn’t because banks are underpricing, and it isn’t because repos are necessarily nice places to live.  People are getting into bidding wars on these properties, and eventually paying more than asking price in many cases!  And then other bank-owned properties have sat, gathering dust, for months upon months. [...] [...] At the beginning of this week, there were over 17,700 single family homes available and another 4700….  Half of them are vacant;  almost one in 5 is a “short sale” where the mortgage balance is greater than the purchase price. These people need to sell their homes, and they need to do it quickly.  Just short of 1 in every 10 listings is bank-owned (REO), and they account for over half our sales!  That isn’t because banks are underpricing, and it isn’t because repos are necessarily nice places to live.  People are getting into bidding wars on these properties, and eventually paying more than asking price in many cases!  And then other bank-owned properties have sat, gathering dust, for months upon months. [...]

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