Banks may be seeing the light on Las Vegas Short Sales
Larry Murphy, president of SalesTraq, which follows foreclosures, says he expects bank repossessions this year to be about 25,000, matching those in 2008. Murphy believes banks are starting to realize it makes better financial sense to allow owners to sell homes through short sales rather than repossess them. Of the 35,742 closings through the first three quarters, 75% were foreclosures and only 10% were short sales, but Murphy expects this percentage to rise. Murphy says 21,576 homes are on the MLS and 52% of those have a contingent sale in place. Of those 11,249, 71% are short sales, and 21% are bank-owned properties. The median price of a home sold through foreclosure is $116,900 and homes sold through short sales have a median price of $150,000, Murphy says, which explains the growing interest for bank in going the short-sale route. Read more…
http://www.lasvegassun.com/news/2009/oct/30/banks-may-be-seeing-light-short-sales/
If you or someone you know are under water on their mortgage, call us for Free advise before spending any money. You have several OPTIONS. 702-307-4070 or go to www.VegasShortSaleHomes.com and click on the right side for your free reports. Or another site at http://www.wadkinshometeam.com/vegasShortSale.html See, you have OPTIONS!
If you are Looking to Buy a Las Vegas Home, call us at 702-307-4070 or go to our website and search for homes at www.WadkinsHomeTeam.com
In Our Opinion,
Steve & Gerri Wadkins® Realtors-Advanced CDPE
ReMax Associates
702-307-4070
Serving Las Vegas and Surrounding areas!
Tags: Bank Owned Homes, Buying a Home In Las Vegas, First Time Home Buyer Tax Credit, Henderson First Time Home Buyer Tax Credit, Henderson Short Sale, Las Vegas Short Sale Homes, Luxury Homes Short Sales
Avg. Sales Price: 379,000
Free Market Alerts 
[...] from: Short Sales Las Vegas, Banks might be seeing the Light! By admin | category: las vegas, las vegas home | tags: article, cdpe, las vegas, las vegas [...]
[...] Short Sales Las Vegas, Banks might be seeing the Light! [...]
I usually don’t leave comments!!! Trust me! But I liked your blog…especially this post! Would you mind terribly if I put up a backlink from my site to your site?
I just wanted to thank you very much for this indepth article. I have already bookmarked your site, when I have more free time I am going to have to do some further browsing. Well back to my dreaming of Panama or back to the books – I wonder which one is going to win out.
Pricing in the Las Vegas market is on the rise as many Banks are willing to help people complete and approve Loan Modifications and Las Vegas Short Sales. This is great news for the Las Vegas & Henderson areas.