Mountain's Edge March 2012 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -42, Pendings are UP +35, Sales are UP +17
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
4 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • May 02 2012 08:21AMTimeline for Finding a Las Vegas Rental Home
The key to finding a rental house in Las Vegas is the timeline. There is a very small window. You cannot start your physical search too early – landlords will only hold the property for about 2 weeks. You can’t start too late – it takes a couple of BUSINESS days to “process” your rental application.3-4 Months Prior To Move In: Ideally you should get set up on an MLS search even if you are months away from your big move. You can fill out our rental questionnaire and we can get you set up on your MLS search immediately. You will receive Las Vegas rental home listings that fit your criteria as soon as they hit the market!
4 Weeks Prior To Move In: You should pick out 10-15 homes to physically view and make an appointment with your assigned showing agent. You can plan on 3-5 of those homes being off the market by the time you put in an application so choose wisely!
3 Weeks Prior to Move In: You should be physically viewing the homes you are interested in. Once you make a decision……
2.5-3 Weeks Prior to Move In: You should be handing in applications.
1-2 Weeks Prior to Move In: Hopefully you have an accepted application by now with all of your diligent hard work you have put in already. The management company will call you to sign your lease ONCE you have an accepted application. At this time, you must have all of your negotiated move in costs ready to be paid at lease signing.
This time frame will give you a little time to coordinate utilities and movers! Good luck!
4 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • April 06 2012 02:25PM
Mountain's Edge February 2012 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -31, Pendings are UP +18, Sales are DOWN -16
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
7 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • April 01 2012 05:14PM
My 2012 Las Vegas real estate market trends predictions will depend on several factors:
This final part of the series will go over financing types.
As you can see from the graph, the percentage of all cash residential resale home purchases in the Las Vegas Valley has increased dramatically from 7.4% in 2006 to 52.1% of all resale transactions in 2012.
I think as we move right along in 2012, we will see a slightly higher of cash transactions due to the low inventory situation that has been around for quite a while but will intensify by AB 284. Las Vegas home sellers will probably be more inclined to accept a cash offer that may be slightly lower than a financed offer if a possibility of a low appraisal is a concern.
Not sure where we are going to be headed as far as the percentages of conventional/FHA lending goes in Las Vegas. I think that acceptance of FHA offers may be on the decline due to appraisal issues HOWEVER if an appraisal issue occurred with a conventional loan it is possible the buyers could switch to FHA so they could bring less cash in. The verdict on how this one plays out will not come in until the end of the year!
I am about 90% sure that cash will remain king and grow in the percentage of transactions in the Las Vegas real estate market UNLESS prices go up too quick. If prices go up too quick, the cash buyers will simply leave the market and wait for lienholders to figure out the whole AB 284 thingy.
2 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • March 29 2012 03:55PM
My 2012 Las Vegas real estate market trends predictions will depend on several factors:
Buying a home in the Las Vegas Valley in 2012 is going to be no fun and no bueno for buyers because of AB 284! AB 284 was implemented on October 1, 2011 and complicates the foreclosure process. Here is what foreclosure filings look like since Oct 1, 2011:
NOW as if our Las Vegas low inventory situation was not bad to begin with, we are JUST (March 2012) beginning to see the impact at the Las Vegas foreclosure auction sales (trustee sales:)
This is going to cause complications in the buying process because buyers will have to deal with two main factors:
Buyers may want to have additional cash on hand for those low appraisals. Sellers are currently pushing the limit with pricing higher and getting multiple offers which also pushes the prices higher. You need to be prepared for paying that higher price that you offered. As our inventory currently falls down, sellers know that in the event of a low appraisal, all they have to do is put the home back on the market and seek out a cash offer. Or a buyer willing to come out of pocket in the event of a low appraisal.
If you a Las Vegas home buyer in this environment - you have to work with a great agent - have thick skin and keep chugging away until you can get the home you really love. Don't forget - even though new construction is more expensive here - it should not be ruled out as an option!
10 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • March 27 2012 02:48PM
Mountain's Edge January 2012 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -30, Pendings are UP +13, Sales are DOWN -8
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
4 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • March 10 2012 08:22AM
Las Vegas 2012 Real Estate Market Trends: REO/Bank Owned Inventory
Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of. My 2012 Las Vegas real estate market trends predictions will depend on several factors:
9 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • February 28 2012 04:13PM
Las Vegas 2012 Real Estate Market Trends: Prices
Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of.
I bet when you opened this post, you thought I was going to give you a concrete answer about Las Vegas residential real estate pricing trends for 2012.
Nothing can be further from the truth since the Las Vegas real estate market seems to love to defy the basic laws of supply and demand. My 2012 Las Vegas real estate market trendspredictions will depend on several factors:
11 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • February 25 2012 06:04PM
Mountain's Edge December 2011 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -4, Pendings are UP +1, Sales are UP +1
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
2 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • February 12 2012 06:04PM
Mountain's Edge November 2011 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -48, Pendings are DOWN -23, Sales are DOWN -5
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
5 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • January 08 2012 04:23PM
Mountain's Edge October 2011 Real Estate Resale Market Report:
Since Last Month: Listings are UP +4, Pendings are DOWN -7, Sales are DOWN -8
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
3 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • November 26 2011 10:36AMMany people don’t even realize that beyond the strip lies vast culture, history and beauty in the city and desert that surrounds the Las Vegas Strip (Gambling District). They never make it beyond the glitzy lights, gaming, restaurants, shopping, nightclubs and shows that are on the strip.
Las Vegas is surrounded by areas that make the perfect home to the outdoor enthusiast. Love camping, hiking (maps), climbing, biking, rafting, boating, fishing and skiing/snowboarding? Yes, snow sports too! Believe it or not they exist within a “stone’s throw” of this amazing city!
Before you go off and explore in the desert you must be properly equipped: Check weather forecast so you can dress appropriately for warm or cool weather, bring lots of water, wear proper shoes if hiking or climbing and be cautious. It is easy to get lost in the desert or fall off of rocks if you perform an activity that you are not accustomed to.
Las Vegas is a weather and natural + man made surroundings makes it perfect for the outdoor enthusiasts:
Las Vegas boasts many parks that offer many amenities from BBQ, frisbee golf, playgrounds, soccer fields, basketball courts, skate parks, public swimming pools, free splash water parks & fenced runs for your canine furpals – just to name a few.
You can go north on the 95 freeway and experience Mt Charleston Ski & Snowboard resort in less than one hour or go south on the 95 and enjoy lake recreation & Hoover Dam at Lake Mead National Recreation Area. Red Rock Canyon is also just minutes from the world famous Las Vegas Strip.
Las Vegas offers diverse communities for residents to suit their lifestyle needs (linked to some of my favorites!):
Would anyone be surprised that Las Vegas provides such unique living opportunities that both residents and vacation home owners deserve in an equally unique environment?
35 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • October 30 2011 06:04PM
Mountain's Edge September 2011 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -37, Pendings are UP +1, Sales are UP +30
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
6 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • October 27 2011 11:33AM
Mountain's Edge August 2011 Real Estate Resale Market Report:
Since Last Month: Listings are UP +2, Pendings are DOWN -8, Sales are UP +25
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
3 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • September 26 2011 10:34AMA little over a year ago I wrote about the Las Vegas real estate market and the media buzz of the double dip in Las Vegas real estate prices. 
Well here is some follow up: yes Las Vegas experienced a double dip. The serving was not as big as 2008 however it was larger than I had expected. I was only expecting single digits but we slipped into the double digits again. What’s crazy with my predictions last September 2010 is that I predicted we would move to a stable market from a seller’s market. The market flirted with stable market territory but never slipped into a stable market.
Las Vegas continues to defy odds makers with this rather odd real estate market. I don’t think we will pull out of distressed territory (less than 50% short sale or REO listings & sales) for at least the next five years. With that being said, as long as banks continue to drive pricing on homes for sale in the Las Vegas market with REO (bank owned) inventory – we could stay in a declining pattern for quite some time.
Most of our defaults are – no doubt – strategic. Our economy is pitiful however many that can afford or are just “hanging on” decide to cut their losses and move on in life. Right, wrong or indifferent: I am not one to judge.
Here are the stats from our board GLVAR:
Sold August 2011:
As you can see we are defying the law of supply and demand. Buyers are rushing in to purchase our fire sale priced cheap home inventory. HOWEVER (don’t you love “buts”?) The distressed inventory keeps coming in larger chunks even though buyers are gobbling it up!
17 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • September 24 2011 09:26AMLas Vegas Area "Communities At a Glance" Real Estate Market Report for July 2011
Absorption rate is basically a report of inventory amounts & trends. It is important for placing offers, pricing new listings and in general understanding where the market is heading. It shows trends in a “monthly format” which gauges how many months it will take for the market to currently “absorb” all of the invententory. You can read more in depth about absorption rate and how it impacts listing a home or buying a home right here.
To View Community Descriptions or See Current Homes for Sale in the above Las Vegas Communities, simply click on the photos below for the specific communities. Listings & Homes for sale are IDX feeds and updated daily (no stale listings,) sorted by the newest listings first:
These Las Vegas Communities do not yet have descriptions up but you are still able to see their newest Homes for Sale (links updated daily)
Silverado Ranch Real Estate & Homes for Sale
Charleston Heights Real Estate & Homes for Sale
Sun City MacDonald Ranch Real Estate & Homes for Sale
Sun City Aliante Real Estate & Homes for Sale
6 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • September 09 2011 07:50PMNevada has received money from the US Treasury to provide assistance and relief with the following programs via “Nevada Hardest Hit Funds” program:
6 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • August 25 2011 04:24PM
Mountain's Edge July 2011 Real Estate Resale Market Report:
Since Last Month: Listings are DOWN -7, Pendings are UP +22, Sales are DOWN -24
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
8 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • August 22 2011 09:57AM
Mountain's Edge June 2011 Real Estate Resale Market Report:
Since Last Month: Listings are UP +11, Pendings are DOWN -1, Sales are UP +8
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
8 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • July 28 2011 03:05PM
Mountain's Edge May 2011 Real Estate Resale Market Report:
Since Last Month: Listings are UP +11, Pendings are DOWN -1, Sales are UP +8
Last Month's Mountain's Edge Market Report
View Mountain's Edge Homes For Sale Here (Updated Daily)
More Information on Mountain's Edge Real Estate Here
More Las Vegas Communities Here
8 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • June 29 2011 08:08PMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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