Robin Camacho
Las Vegas Real Estate
David McKee
Stiffs & Georges
Jean Scott
Frugal Vegas
Short Sales - It's The New Black
Dan said: My daughter and son-in-law just went thru a short sale they were trying to buy. The bank was NOT ver... [More]
Has Las Vegas Real Estate Hit Bottom?
Judy Taylor said: Robin, and others, have pointed out how much like a Circus Midway the home market in Las Vegas has b... [More]
Has Las Vegas Real Estate Hit Bottom?
Taryn Hazelwood said: My husband and I are moving from Gig Harbor and have made offers on 8 homes, only to find our offers... [More]
Las Vegas Home Sales Skyrocketing (Again)
Judy Taylor said: Robin, you must be out there turning around the housing overstock here in town. The amount of homes ... [More]
Wake Up, Roger, and Own Your Own Piece of Las Vegas
Judy Taylor said: What does "Active-Exclusive Rights" mean on the MLS? I just started seeing the term since ... [More]
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Posted At : January 29, 2008 5:08 PM | Posted By : Administrator
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Mix of good news and bad news for Las Vegas housing this month: Foreclosures and short sales are still rising. Prices slipped quite a bit in the past 30 days, and we are seeing more homes priced at 50% off of their previous sales price.
January home sales were again flat; keep in mind that this is at a time when sales should be taking a nosedive. Flat sales for November, December and January is a good sign for the Las Vegas housing market.
With pending sales rising, I still expect to see us reach a sales "bottom" early this year. It's hard to predict when prices will bottom out, but that will follow as inventory is absorbed.
You may have noticed the Top10 was looking a bit stale last week. My brilliant researcher just got back from vacation, and updated the site today. He's working on the 30 runners-up as well. All future island vacations for Ron are hereby suspended. Apparently updating this from Grand Cayman turned out to be more of a challenge than he expected. Or maybe it was the rum...
Check out the article on the best places to buy homes--Las Vegas is making a lot of these lists lately.
For those of you who were looking forward to Part II of Gui's story, we are getting close. I got a call that the house he wanted fell out of escrow yesterday. Gui understood that he needed to jump on it quickly this time and we're waiting for a response from the bank on his previous offer.
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