National Shadow Inventory Dropping

If you're looking for good news, at least we're starting to trend in the right direction.

The Shadow Inventory is the number of Bank Owned Homes,

also included are Homes with over 90 day delinquency,

and  Bank Owned Foreclosures currently on the Market.

Cheap Homes may Spur Companies to Move to Vegas

A recent article in the Review Journal discussed how affordable it is to live in Las Vegas.

The Headline States,

Cheap Homes may Spur Companies to Move to Vegas

Nevada Unemployment Highest in Nation

I have always said that everything is amplified in Las Vegas.

Biggest Hotels, Fastest Growth, Largest Housing Boom, Most Foreclosures,

and now we are #1 in Unemployment.

Yes, Las Vegas is a volatile city.

But the good news is that we are still the Nations Playground.

Signs, signs, everywhere there's signs !!!

Two signs that our Las Vegas Real Estate Market is recovering.

Fewer properties being listed.

And those properties selling faster.

Statistics from the Greater Las Vegas Association of REALTORS®.

Is the Economy Back on Track?

Many economic indicators say, "Yes!"

But does that tell the whole story?

You can watch the video below for an interesting take on the subject.



Where are these listings coming from? What's Selling?

These statistics were posted by the GLVAR May 10th.

Over 5,000 Short Sales Listings, and only about 700 Sold. About 1 out of 7.

Over 4,000 Traditional Sales, and about 800 Sold. About 1 out of 5.

Foreclosures still lead the way by under pricing all other inventory.

New Construction Home Prices in Las Vegas

That's one opinion why prices are so far apart.

Another might be that it wouldn't make sense for new home builders to build small homes

and compete with all the older, smaller, less desirable neighborhoods that are selling for so much less.

Considering they got the date wrong, who knows what they're thinking.

(posted on April 26, 2011)

If you're looking for a New Construction,

there are a lot of great deals out there.

Give us a call, and we will get you started in the right direction.