Las Vegas NV Area Sold Terms & Trends February 2012 (includes Henderson & North Las Vegas)

By
Real Estate Broker/Owner with Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate B.1000860.LLC

las vegas area homes for sale

Las Vegas Area Homes for Sale

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 Requires the deed to be seasoned for several months so some flips bought at trustee's sales are generally out as options when competing with multiple offers!

Other: Less common and creative financing types such as Lease Options, OWC (Owner Will Carry), etc. The "other" category INCLUDES auction terms!!

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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, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

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Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Renee I loved reading thoroughly this post as all the ones you write are excellent about Henderson and the North Las Vegas area. Reminding people how cash is king and can trump and knock other offers off the table is a very good point. I see this happen all the time for the very reasons you elaborated on.

Mar 23, 2012 08:41 AM #1
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Larry Brewer
Benchmark Realty LLc - Nashville, TN
Nashville Real Estate

renee - I'm seeing this trend in several area that had the boom and bust, and I can understand how cash buyers are able to get a deal done where someone who has to have a mortgage may not be able to. Imagine the savings in closing cost, and not having to deal with appraisers. You could buy an empty home in one week if you have a good title company. Las Vegas seems to have a lot of cash buyers right now, and I would think it's a better bet than the slot machines.

Mar 23, 2012 08:55 AM #2
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Renée Burrows
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Thanks for stopping by Larry & Gary!

Apr 27, 2012 01:43 PM #3
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Renée Burrows

Las Vegas Real Estate Broker - www.urLVhome.com
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