Las Vegas, Henderson and North Las Vegas Real Estate: September 2009

Last week we looked at general trends in the Central Las Vegas real estate market. Today we'll start looking at the components of that market -- REOs (bank owned homes), short sales, and regular sales.

On a very basic level, it appears that we have just over 3 months of inventory for central Las Vegas. But when we look closer, three distinct markets emerge. Here are the current figures for central Las Vegas REOs, short sales, and 'regular' home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). We have about three weeks of REO inventory, but nearly one year of short sales.

Distressed properties (REOs and short sales) make up 57% of our available inventory ...

... but account for 90% of the current escrows

To find out more about buying or selling real estate in central Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 301-303.)

Is it just me or is 2009 flying by? This Thursday marks the beginning of the fourth quarter! If part of your year-end plan includes learning more about blogging, here's a great resource from Darren Rowse at ProBlogger:

Top 10 Posts on ProBlogger Q3 2009

Dealing with the daily challenges in the real estate and lending markets never seems to leave enough time to read outside blogs, so summary lists like this one are a big plus. Two of my favorite posts on the list are 8 First Step SEO Tips for Bloggers and the video presentation from Tim Ferriss, How to Build A Successful Blog.

Set some time aside to review the complete list this week, and you'll be sure to finish 2009 strong and start the new year with a lot of momentum.

That's not an embarrassing typo in today's Google logo, it's a tribute to Google's 11th birthday.

From its beginnings at Stanford University with co-founders Larry Page and Sergey Brin, it is amazing how much Google has impacted our daily lives:

Search, Gmail, Docs, Maps, Earth, Analytics, AdWords, Picasa ... and take a look at what they're working on in Google Labs.

Happy birthday, Google!

In my last post about the northwest Las Vegas real estate market, I highlighted sales price, volume, and financing trends. Today I'll break down the different listing types of that market -- REOs (bank owned homes), short sales, and regular sales.

Overall we have about 2.9 months of northwest Las Vegas real estate inventory. A closer look will show that there are three distinct markets. Here are the current figures for northwest Las Vegas REOs, northwest Las Vegas short sales, and 'regular' northwest Las Vegas home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There is less than one month of REO inventory, but nearly eight months of short sales.

Distressed properties (REOs and short sales) are 61% of the available inventory ...

... and comprise 89% of the homes in escrow.

To find out more about buying or selling real estate in northwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 401-405.)

In a recent post we looked at sales price, volume, and financing trends in the southwest Las Vegas real estate market. Today we'll examine the parts of that market -- REOs (bank owned homes), short sales, and regular sales.

On the surface, it seems like we have just under three months of southwest Las Vegas real estate inventory. Looking at each type of listing, three distinct markets emerge. Here are the current figures for southwest Las Vegas REOs, southwest Las Vegas short sales, and 'regular' southwest Las Vegas home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There are only 2-3 weeks of REO inventory, but over eight months of short sales.

Distressed properties (REOs and short sales) compose 61% of the available inventory ...

... and represent a whopping 91% of our current escrows.

To find out more about buying or selling real estate in southwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 501-505.)