Las Vegas Real Estate News - Summerlin Real Estate - Henderson Nevada Real Estate Market

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The Escrow process in Nevada

Friday, March 13th, 2015 at 8:01am. 293 Views, 0 Comments.

This article is courtesy of Noah Hoag with Ticor Title.

 

What Do I have to do while in Escrow?
The key to any transaction as important as your sale, purchase or loan is to read and understand your escrow instructions. If you do not understand them, you should ask your escrow officer to explain the instructions.
Your escrow officer is not an attorney and cannot practice law; you should consult your lawyer for legal advice. Do not expect your escrow officer to advise you as to whether or not you have a "good deal" or are doing things the right way. The escrow officer is there to follow the instructions given by the principals in the escrow. In order to expedite the closing of the escrow, you should check with your escrow officer as to what specific items you…

Las Vegas Association of Realtors reports median price increase for sold homes on the Las Vegas MLS

Saturday, December 13th, 2014 at 1:13pm. 1044 Views, 0 Comments.

Las Vegas Homes Sold in November up in Median price

  • Get a complimentary market analysis for your Las Vegas Real EstateMedian Sold Prices for Homes and Condos / Townhomes Up
  • Number of Listings Sold in November is down
  • Available Inventory on the Las Vegas MLS is down 

According to the Greater Las Vegas Association of Realtors®, the median price for sold homes on the Las Vegas MLS in November of 2014 was up 1.1% from October of 2014 and increased 10.4% from November of 2013. Here are the interesting stats worth taking a look at from the latest Report:

Las Vegas Sales Stats - Nov. 2014
Single Family Homes 

Units Sold Nov 2014Change from
Oct. 2014Change from
Nov. 2013# of Units Sold2,031-12.8%


-7.7%

Median Price of
Units Sold


$202,000

+1.1%+10.4%Avg. Price of
Units Sold$243,449-1.5%+7.9%

Las Vegas Sales Stats - Nov. 2014

Notice of Defaults soar in Nevada but let's look at the real numbers that matter...

Friday, August 15th, 2014 at 6:31am. 1853 Views, 0 Comments.

Notice of Defaults soar 128% in Nevada

From the Las Vegas Review Journal:

Notice of Defaults Soar in Nevada

Lenders filed 1,037 notices of default to start foreclosure proceedings in July, up 128 percent from July 2013, RealtyTrac reported. It’s also the highest number of starts since October, when the state’s Homeowners Bill of Rights took effect and put new restrictions on banks looking to foreclose. Monthly foreclosure starts had ranged from 284 to 708 in the first half of 2014 as banks adjusted to the regulations.

Is this a reason to panic if you are a homeowner concerned about their equity? Probably not when you look at the real numbers of bank owned homes that are actually available for sale on the Las Vegas MLS. Should a Las Vegas real estate buyer wait…

Las Vegas Bank Owned Properties for sale declines another 10.8%

Monday, March 31st, 2014 at 12:56pm. 3220 Views, 1 Comments.

Bank Owned Properties for Sale in Las Vegas drops 10.8% month over month

Las Vegas area Bank owned properties for saleSpeculation that the lenders will be dumping Bank Owned properties on the Las Vegas market for sale continues to not materialize as once again, the available amount of Bank Owned properties in the Las Vegas area drops month over month.

In the February Bank Owned Report, available inventory dropped 3.41%. Compared to last month, Bank Owned Inventory available for sale on the Las Vegas Multiple Listing Service (MLS) has dropped another 10.8% with the only increase coming in condominiums.

Bank Owned Properties in the Las Vegas Area available for sale

** Numbers are from the Las Vegas MLS for areas 101-606 which includes Henderson, North Las Vegas, Las Vegas and Summerlin.

 Single Family

Las Vegas Home Sales in Zip Code 89128

Friday, March 21st, 2014 at 10:32am. 3103 Views, 0 Comments.

Las Vegas Home Sales in Zip Code 89128 - Northwest Las Vegas Real Estate

Las Vegas Zip Code 89128 BoundariesLas Vegas Homes in Zip Code 89128 includes the Master Planned Communities of Desert Shores, South Shores and The Pueblo Village in Summerlin.

For February of 2014, the Year over Year Median Sale Price was up 27%, Total Sales were down 21.7% and the Median Sale Price went down 3.5% from January of 2014.

Information is from the Greater Las Vegas Multiple Listing Service (MLS) and is deemed reliable but not guaranteed. The information below is for Single Family detached homes in Las Vegas Zip Code 89128 and does not include For Sale by Owners, Townhomes or condominiums. For a specific Las Vegas Home Value market evaluation, please contact Paul Francis at 702.592.3058.

There were 36 reported…

Summerlin West Homes Market Report - Northwest Las Vegas Real Estate

Friday, March 14th, 2014 at 10:30am. 3248 Views, 0 Comments.

Summerlin West Homes Market Report - February 2014

The Vistas Village Clock Tower in Summerlin WestMedian sales price for Summerlin West Homes goes up 24% year over year, Median Days available for sale increases 115%. Summerlin West Home Sales are down 48% from February of 2013.

Information is from the Greater Las Vegas Multiple Listing Service (MLS) and is deemed reliable but not guaranteed. The information below is for Single Family detached homes in Summerlin West Las Vegas Zip Code 89138 and does not include For Sale by Owners or condominiums in Summerlin West. For a specific Summerlin West Home market evaluation, please contact Paul Francis at 702.592.3058.

For February of 2014, there were 15 reported closed sales in Summerlin West. Of these 15 homes:

  • 13 Were Traditional Sale
  •   1 Bank Owned Home Sold
  •   1…

Desert Shores Market Report - Northwest Las Vegas Homes Report

Tuesday, March 11th, 2014 at 7:02pm. 2389 Views, 0 Comments.

Desert Shores Market Report - February 2014 Sales

Desert Shores Homes for Sale in Las VegasMedian Sale Price increases 15% year over year, declines 13% from January of 2014. Median Days Desert Shores Homes Available for sale goes up 900% year over year.

*Information is from the Greater Las Vegas Multiple Listing Service (MLS) and is deemed reliable but not guaranteed. The information below is for Single Family detached homes in Desert Shores and does not include For Sale by Owners or condominiums in Desert Shores. Desert Shores homes not properly classified in the Desert Shores community on the Las Vegas MLS may also not be included in this report. Homes in South Shores miscategorized as being in Desert Shores were removed.

For February, there were a reported 10 closed home sales in the Desert…

Corelogic Reports 30.4% of Nevada Homes with a Mortgage are Underwater

Saturday, March 8th, 2014 at 3:44pm. 4152 Views, 0 Comments.

Latest Corelogic® Equity Reports 30.4% of Nevada Homes with a Mortgage have Negative Equity

From the News Release: Corelogic Reports 4 Million Residential Properties Returned to Positive Equity in 2013

Nevada had the highest percentage of mortgaged properties in negative equity at 30.4 percent, followed by Florida (28.1 percent), Arizona (21.5 percent), Ohio (19.0 percent) and Illinois (18.7 percent). These top five states combined account for 36.9 percent of negative equity in the United States.

Key Phrase: Mortgaged Properties.

Another report where Nevada is ranked #1 in Negative Equity for homeowners with a mortgage. I follow all of the housing reports for Las Vegas and Nevada to keep on top of what trends may be coming up. My opinion but I think Corelogic®…

Summerlin South Home Sales in Las Vegas Zip Code 89135

Friday, February 28th, 2014 at 6:05pm. 2513 Views, 0 Comments.

Summerlin South Home Sales shows 22% Decrease

Willow Creek Entry in The Willows Village of Summerlin SouthSummerlin South in Las Vegas zip code 89135 is home to a variety of communities ranging in price starting in the high $100,000 range all the way to over $4,000,000 for Luxury Custom estates in The Ridges. 

For January of 2014, there were 38 Reported Home Sales on the Las Vegas MLS for Summerlin Homes sold. The highest sales price reported was for a 3,797 square foot Red Rock Country Club Home. Listed for $1,650,000, the final sales price was reported at $1,575,000.

The Lowest reported sales price was for $249,000 for a 1,621 square foot single story home in the Guard Gated, Age Restricted golf course community of Sienna.

View Summerlin Homes for Sale In Zip Code 89135

**Information is from the Greater Las Vegas…

Bank Owned Properties for Sale in the Las Vegas Area decreases from Last Month

Friday, February 28th, 2014 at 3:08pm. 3295 Views, 1 Comments.

Bank Owned Inventory Available For Sale in Las Vegas trends down

After reporting a 29% year over year increase in January for the amount of Bank Owned Properties available for sale on the Las Vegas Multiple Listing Service which includes Summerlin, Henderson and North Las Vegas, Month over Month availability has decreased.

View January 2014 Report of Bank Owned Properties for Sale in Las Vegas

For February 28th, the number of Bank Owned Properties available for sale in Las Vegas decreased 3.41% compared to January 26th. There's no shortage of reports that there are thousands of seriously delinquent Las Vegas homeowners (Considered 90+ days late on mortgage payments) and this has led to speculation that this is going to result in the Banks foreclosing on…

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