Market Stats-Las Vegas 1/2/2013

HAPPY NEW YEAR!

Here are the numbers for last week!

As of today there are 3,570 homes on the market!  Of that, 391 are REO, 626 are Short Sales, 2,553 are Equity sales!

Last week, 513 homes went into escrow!  Of those, 83 were REO, 222 are Short Sales and 208 were Equity!

Last week 777 closed escrow!  LUCKY!!!  Of those, 76 were REO, 414 were Short Sales and 287 were Equity!  

Here's the best number yet!  With the closing of the year there were 373 Expired listings that were not REO, were not Short Sale!  

If you feel that you lack the skill to call Expireds and get those listings, it might be time for a change in the new year-HIRE A COACH!

Market Stats-Las Vegas 12/26/2012

Happy Day After Christmas!!!  Here are the Stats for this week!

There are 3,709 Available.  389 are REO, 650 are Short Sale, 2,670 are Equity sales!  WOW!!!

Last Week 484 went into escrow!  63 were REO, 220 were Short Sale, 201 were Equity!

Last Week 437 Closed escrow!  38 were REO, 183 were Short Sales and 216 were Equity!

Market Stats-Las Vegas 12/03/2012

Market Stats are ready!  Here they are!

As of today there are 3,876 SFR homes available in Las Vegas/Henderson areas.  Of those only 343 are REO's.  748 are Short Sales and 2,785 are Regular/Equity listings.  

859 went into P or C status.  Of those 116 are REO, 408 are Short Sales and 335 are Regular/Equity sales.

We had 704 close escrow last week, mainly due to month end!  Of those only 84 were REO.  277 were Short Sales and 343 were Regular/Equity sales.

There were 120 Expired listing last week (non-REO, non-Short Sale).  This number was high due to month end as well.

Let's look just at the REO's.  Right now we only have about a 3 week supply of REO homes, that's about 2 weeks less than the overall inventory of the market.  What does this tell us?  What does this mean for your buyers?  Well, as agents we KNOW.. we are dealing with it!  Multiple offers, getting beat out, sales prices well over list.  How do we help our clients see it without "teaching" them on an offer?

Easy, we use these numbers.  Let the numbers do the talking!

If your Buyers are "low-balling" it's only because YOU haven't educated them enough.  Time after time I hear this from agents I am coaching, "They just won't offer list, all they want to do is low ball."  The only way to change this is to take responsibility and educate your buyers.  The truth is, if they are motivated and in fact do want to buy, it's your job to help them understand the market.  Here's the trick... you don't educate by TELLING them about the market.  We educate by ASKING QUESTIONS that help them uncover and discover the market themselves.

Yeah, it's tricky.  It takes time.  It takes skill.  It takes knowing when to ask.

Not sure how... what.... why.... when?  Give me a call.  Teaching agents the super-hero like skills needed to navigate effortlessly through any market is what I do.

Market Stats-Las Vegas 11/26/2012

I'm going to give these stats to you a little differently today.  Instead of %, we are going to look at units.  

There are currently 3,881 homes on the market.  Of those, 359 are REO, 768 are Short Sale and 2,754 are Equity.  We are seeing that a very large portion of the equity sales are flips or investment properties.

Last week there were 597 total sales.  Of those, 72 were REO (seems SO low!), 284 were Short Sale and 241 were Equity.  As you can see, Equity and Short Sale are neck and neck for number of units sold but if you look at the availables comparatively, it's pretty safe to say that most of the Equity listings are overpriced.

Last week 410 units closed escrow.  Of those 31 (yes, THIRTY-ONE) were REO, 186 were Short Sale and 193 were Equity.

There were 40 Expired listing last week that were NOT a short sale or an REO.  So, if you've got skill, you can get the listing priced IN the market and do a deal!

Market Stats-Las Vegas 11/19/2012

Here they are!!!

3,937 available SFR homes.

9% bank owned, 20% short sale, 71% other (equity, flippers, etc)

792 went into P,C status last week.

11% bank owned, 47% short sale, 42% other.

431 closed escrow last week.

9$ bank owned, 45% short sale, 46% other.

There were 51 Expired listings that were not short sale or bank owned.

At the current rate, if not one more home came on the market it would take us just under 5 weeks to sell all the current inventory!