LAS VEGAS INVENTORY is Shifting and Dropping….read on….

SnapShot of the current market in Las Vegas today…. 
[What a buyer can expect]  

UpDated:  March 21st, 2012

~Banks/sellers are selling at the Fair Market Value [FMV] of today….FMV is a discount of 50-60-70% off original sold pricing of 2002, 2003, 2004, 2005, 2006.

~Also the banks/sellers are absorbing the loss on the huge deficiency on the defaulted mortgage for the winning buyer. 

~The banks/sellers are also delivering clear and marketable title; whereas they are paying for all delinquencies with penalties & interest [water, gas, electric, sewer, property taxes, hoa fees, etc.] and liens on title that have been left by the previous defaulting owner for the buyer. 

~The banks/sellers are also paying for the Title Commitment insuring that they are delivering clear and marketable title for the buyer.

~The banks/sellers are also paying for Realtor fees.  [This is approximately 4-6% of a sales price for both Seller and Buyer agent share]

~The banks/sellers are paying for their own closing costs.  No buyer contributions are requested by the banks.

~The banks/sellers are selling properties in “As is” condition; whereas no repairs are made.

~The banks/sellers are paying for the Home Owner’s Association Resale Package.

~There are bidding wars and multiple offer situations on properties.

~Inventory is consistantly on the decline.

~TODAY 03/21/12 Inventory: 

 6959 Total MLS Listings 100%
 2757 Shortsales 39%
 1043 Foreclosures 16%
 3159 Straight Sales 45%

~In essence, buyer may expect an unprecedented great deal in one of the most exciting cities on this planet today!   Fabulous Las Vegas!!

 Julia St. Marie, RRG, ABR, RSPS
Phone:  702-355-H-O-M-E (4663)
Fax: 702-791-1094
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