Robin Camacho's House Advantage

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Short Sales - It's The New Black
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Nearly 4400 Sq. Ft. Home in Mountains Edge, Las Vegas for $369,900?!

Posted At : April 21, 2008 6:30 PM | Posted By : R Camacho
Related Categories: Current

The last few days have been a whirlwind of showings, Offers and Counter Offers. Maybe it’s the incredible weather—that always brings people out to look.

Or maybe it’s opportunities like the 4,392 square foot home in Mountains Edge for $369,900. That’s certainly the reason offers are flying fast and furious from my desktop today. This house was priced at $84 per square foot—unheard of for this community, where the next-best deal I found in the same development will probably sell for $115 per square foot (to another of my clients).

The home sold new in 2006 for $840,000. It just fell out of escrow, and the bank set a very short window for cash-only offers. The previous owner stripped out all of the kitchen and bathroom fixtures, and all kitchen appliances. It needs about $30,000 to $45,000 in rehabbing, including replacing some horrific vinyl in the kitchen and baths.

But some lucky cash buyer (I hope my client!) will get an incredible deal on this today.

My last blog entry, Nevada Escrow Practices, received double the number of views-in-the-first-48-hours than my average. What’s up with that? If you have a topic of interest (and who would have thought escrow was so interesting?), please feel free to share; I’ll address it in my blog if it’s appropriate.

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