It’s Still a Great Time to Buy A Las Vegas Home

By
Real Estate Agent with Simply Vegas

Times are tough, especially in the housing market.  However, if you are in the market to buy a home or investment property, now is the time to take advantage of the low Las Vegas home prices and deals that you can get on foreclosures and short sales.

While foreclosure sales this spring accounted for one third of all homes sold, Nevada foreclosure sales accounted for a whopping two thirds of all real estate transactions – that’s two out of three houses in foreclosure.  These foreclosed homes sold for an average of 21 percent less than the prices that typical homes sold.

Home prices have continued to decline in Las Vegas into the summer as well. In July, SalesTraq reported that real estate-owned sales had a median price of $97,050 and short sales had a median price of $117,500.

RealtyTrac reported that bank-owned homes sold for 40 percent less than the average price of homes; up from 36 percent from the previous quarter and 34 percent from the same quarter one year ago.

This means lower home prices and more negotiating power to you when buying a home. 

When looking at short sales homes, foreclosures or bank owned homes, be sure to take into account if they are distressed properties.  Although typically priced at a big discount they may need major repairs and lower prices for other homes in the neighborhood.

Take advantage of Las Vegas home prices while you can. I am Yonas Woldu, and I can help you find the perfect home or investment property in Las Vegas - or anywhere in Clark County. For the personalized attention, you want with selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. I am committed to working with you; I will do the legwork, finding the perfect investment property for you. As investment in Las Vegas property continues to gain attractiveness, you will find that I am dedicated to helping you in every way possible.

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Topic:
Home Buying
Location:
Nevada Clark County Las Vegas
Groups:
1st Time Buyers
First Time Homebuyer
Foreclosures & Short Sales
LAS VEGAS - NEVADA
Las Vegas, NV Area Real Estate Professionals
Tags:
first time homebuyers
investment property
yonas woldu
las vegas
las vegas foreclosures
las vegas home buyers
clark county

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Rainmaker
160,151
Kim Logan
KELLER WILLIAMS LAKE OCONEE - Greensboro, GA
Kim Logan - Keller Williams Lake Oconee Realty

I think this is a great time to buy, lots to choose from, great homes and great rates!

September 01, 2011 09:31 PM #1
Anonymous
Anonymous
Yonas Woldu

Kim Logan, you are right.  We have properties at the court house steps, HUD, and ofcoarse MLS properites.  Keep me as real estate source.  Thanks.

September 02, 2011 01:15 AM #2
Rainer
180,575
Richard D. Chapin
Arizona Elite Commercial - Payson, AZ
PLLC - Commercial Real Estate

We have a very simalar maket in Phx right now. I can't help but think in a few years we'll be talking to a lot of the same people only then they will be saying "I could a, should a, wish I would a" when they reflect back to 2011. If only somebody would have told them. Yah right oh well all you can do is all you can do. some will some won't, next.

September 02, 2011 02:02 AM #3
Rainmaker
55,964
Yonas Woldu
Simply Vegas - Las Vegas, NV
Yonas Woldu

We can only do what we can do, Richard! Thanks for the comment.

September 04, 2011 10:44 PM #4
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Rainmaker
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Yonas Woldu

Yonas Woldu
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