Why Las Vegas Real Estate is Stabilizing
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Las Vegas Real Estate Has Bottomed Out!
We May Have Hit Bottom with Las Vegas Real Estate
We are working closely with a number of banks and have a large block of Real Estate Owned ("REO") homes that we are selling and are in touch with their representatives on a daily basis.
Banks are Pricing for Sales
We are starting to see more flexibility on pricing from the banks - we believe as we move further into this third quarter of the year and into the fourth quarter, banks will become more flexible on their negotiations and pricing. They simply want to get these homes of their books to minimize a drain on their earnings.
Statistical Trends Improving for Las Vegas Real Estate
One of the most telling statistics that was just released is the supply of Las Vegas homes available on the Multiple Listing Service - inventory has dropped from 18 months at the beginning of this year to approximately 13.7 months at the end of June. This is a healthy trend and means that we are moving back to a much stronger market and there is clearly demand for homes, especially Las Vegas Foreclosures and REO Homes.
We talk with consumers, homeowners and investors every day and we are constantly analyzing important statistics to help our clients make good decisions about purchasing Las Vegas Real Estate.
We are encouraged when we see these kind of statistics coming from our local Greater Las Vegas Association of Realtors and believe these numbers indicate our market is returning to sound fundamentals.
Inventory is dropping, homes are selling and banks are becoming more flexible on pricing bank owned homes! It's not all blue skies and green lights yet but the tea leaves are looking better!
We have value pricing here in Las Vega that has not been seen in 3-5 years and investors are moving back into our market for the great deals that are available.

John and Ruth Ahlbrand, Co-Founders of RE/MAX CENTRAL of Las Vegas
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Las Vegas, NV 89135
Office: 702-940-9600
Fax: 702-940-9601
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