Market Stats-Las Vegas-9/17/12

Here are the numbers for this week!

4,109 SFR Homes in Las Vegas/Henderson area are availble.  That's up a few hundred since this time last month.

8% are REO, 22% are Short Sales, 70% are Equity (Regular Sales)

Last Week 923 went into Escrow.

12% were REO, 52% were Short Sales, 36% were Equity.

Last Week there were 480 Closed Transactions.

14% were REO, 45% were Short Sales, 41% were Equity.

There were 48 Non-Short Sale, Non-REO Expired homes last week. 

At our current rate of sales, it will take 4.5 weeks to sell all the inventory we have if not one more home came on the market!

Market Stats!

MARKETS STATS!!! 

4,057 SFR homes available in Las Vegas/Henderson area!  8% REO, 23% SS, 69% Equity!

944 accepted an offer last week.  13% REO, 52% SS, 35% Equity!

442 Closed escrow last week!  11% REO, 46% SS, 43% Equity.

54 homes fell off the market that were not REO or Short Sale!  54 opportunities to get an Equity listing... and you know in this market-it will sell!

Las Vegas Market Stats!

Today there are 3,997 SFR homes available in the Las Vegsa/Henderson areas.  Of those, 8% are Bank Owned, 23% are Short Sales and 69% are Equity/Private Sales.

1,012 went into escrow last week!  15% are Bank Owned, 51% are Short Sales, 34% are Equity/Private Sales.

Last week 545 homes closed escrow!  15% were Bank Owned, 41% were Short Sales and 44% were Equity/Private.

There were 49 homes that failed to sell and went into Expired status in the MLS!

Las Vegas Market Stats!

Here are the stats for this week in Las Vegas!

Available:  3,952- 9% REO, 23% SS, 68% Private

In Escrow Last Week:  964- 16% REO, 51% SS, 33% Private

Closed Escrow Last Week:  670- 20% REO, 44% SS, 36% Private

There were 48 homes that X'd in the MLS that were not Short Sales or REO's!

As of today we have a 4 week supply of homes on the market, so, if not one more home because available, it would take only 4 weeks to sell our current inventory!

Tip #2 to Getting Your Offer Accepted in a Sellers Market!

Appraisal Waiver:           In a quickly appreciating market it is not uncommon to see Sellers asking Buyers to waive the appraisal contingency.  Should it make financial sense, you can offer this upfront to make your offer more desirable.  As the offer is currently written if an appraisal comes in below sales price there are three options:  1. Buyer does not have to buy.  2. Seller does not have to sell.  3. Buyer and Seller renegotiate by meeting in the middle, lowering the sales price or Buyer paying the total difference.  Here’s an example.  You purchase a home for $250,000.  The appraisal comes in at $225,000.  If you, the Buyer, has waived the appraisal condition than you would be paying the difference of $25,000.  If you did not waive the appraisal you could renegotiate with the Seller.  Often, if Buyers have the cash, they have the ability to waive the appraisal and pay the difference.  This can be VERY attractive to a Seller and helps Buyers who have some cash but are not in a position to pay all cash compete against cash Buyers.  Another way to use the appraisal to create a more attractive offer is to offer to pay a certain amount over appraisal, not to exceed the offered sales price.  For example: “Buyer agrees to pay $5,000 over appraisal not to exceed a sales price of $200,000 (This will be the price you offered.  Put a cap at the sales price so that in the instance the appraisal comes closer to sales price than you offered to pay over, you aren’t stuck paying more than you originally offered.)