*** Las Vegas & Henderson Homes and Condos ***

Lo And Behold! Finally The New York Times has published a positive article on the state of the Las Vegas Real Estate market. 

CLICK TO READ.

Photos Below is of The Clubhouse at INSPIRADA in Henderson By Toll Brothers

Brand New Homes are available from $ 230k!

Investors who were waiting for the bottom and sitting on the sidelines to pick up a Las Vegas foreclosure, may be a little tardy to the party. We still have a pipeline of bank owned properties that have yet to hit the market based on the Notice of default lists we receive weekly from the local title companies, but well priced foreclosure listings are not being released en mass, and it seems as soon as an attractively priced bank owned property hits the Las Vegas market - multiple offers are written by agents whose buyers are watching and waiting. This can be frustrating for the buyers and their agents, as well as disappointing.

We still receive phone calls on listings where the buyers see a foreclosure priced at $ 150k and they seem to think the bank will accept their offer of $120k. These are unrealistic expectations  in Las Vegas real estate 2010 style!

SEARCH ALL LAS VEGAS FORECLOSURE LISTINGS

SEARCH LAS VEGAS CONDO FORECLOSURES

I wish our MLS had a special section for SHORT SALES, which are in many cases, priced extremely below the comps in an effort to invite a bidding war.  And I wish that listing agents would prequalify their sellers to see if they are financially capable of selling their home short. It is important for sellers to be honest with their agents about their remaining assets.  Just because someone had made a purchase that is over encumbered does not mean the person will be given a release from all liability under the existing notes.  It is not uncommon for a lender to approve the short sale purchase contract price, but request that the seller make some sort of restitution for the balance of the note.  This is where many of the short sale transactions fall apart. Nevada is a state in which lenders can sue the sellers for the deficiency via a deficiency judgment.

Complicated Buyer Processes? - It sure is! 

One refreshing thing for THE STARK TEAM, is that we are once again beginning to sell new homes, which is such a wonderful and refreshing experience for us in the midst of the foreclosure world that has been so prevalent for the past 2 years.  I remember the days in the mid to late 1990's when we were the #3 team in Summerlin to sell new homes. In those days, we had so much fun as real estate agents. It is a joy to help folks pick their lot, and their floorplan and exterior, and see them enjoy customizing the interiors, and watch their home take shape. The NYSE home builders in Las vegas are offering some extremely aggressively priced new homes. Many have restrictions, whereby the buyers cannot rent the properties for at least a year, so as to prevent a replay of 2004-5.

Our team is well versed in the new home communties in Summerlin and Henderson NV as well as the foreclosure market.

CONTACT US! 702 236-8364