It’s been 5 LONG years but for the first time since 2008, equity home sales in the Las Vegas Valley have outpaced distressed sales (REO & Short Sale.)
In February 2013, equity (aka, traditional or standard) home sales evened up with distressed sales and accounted for 50% of all resale home sales in the Las Vegas valley. One month later in March 2013, equity sales outpaced distressed sales at 54% of the market. To put this into perspective on how quick our market is changing, just one year prior in February 2012 distressed sales dominated 74% of the market share and two years prior in February 2011 distressed sales dominated 78% of the market share.
Many great things have happened in our market in the last year – one of the best is rising prices.
Many focus on the disgruntled buyers trying to take advantage of the cheap prices. Those leveraging their purchases with cash are seeking a great ROI, those leveraging with financing are seeking a place to call “home” taking advantage of today’s low interest rates.
I am focusing more on the homeowner that needs to sell but is barely upside down, rising prices are allowing these homeowners to sell without putting themselves in a short sale position. Imaginary things like new found home equity also have a great impact on positive attitude of home ownership which will benefit this sector of our economy. Less people will feel “trapped” in their homes will result in less distressed listings and higher home prices
My position has always been that most people “disposed” of their homes like yesterday’s garbage because of their negative equity position, not because they were in actual “distress”. Less negative equity = less distressed sales.
Author:Brenkus Team Phone: 702-526-2298 Dated: April 26th 2013 Views: 840 About Brenkus: Rick and Teri Have been top producers for over 30 years in the Las Vegas area and have been ranked i...
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
Before you make any decision to Buy, Sell or Invest in Real Estate, be learning based and discover all the benefits, strategies and techniques Rick and Teri Brenkus offer to their clients..... You will be glad you did!!! 702-456-5959
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"There are so many realtors to choose from, but Ivy Beller and the Brenkus Team are top-notch professionals who will go above and beyond your expectations. We became Ivy's clients when we were attempting to sell a condo we inherited. We originally listed with Zillow because we were lured by their promises and testimonials of a quick and easy cash sale. However, it turned into a living nightmare, and we will never go with Zillow again. Because it was not a person-to-person contract, everything was via e-mail. There were no less than five different people from Zillow e-mailing us daily, requesting information, signatures, and documentations, sometimes the exact same requests from several different people, none of whom communicated with one another. It was chaotic, disorganized, confusing, and high-pressure. They kept sending us urgent messages to "sign or else." The documents were very confusing, and when a lien came up on the property (we knew nothing about it), we knew it had to be an error since the condo was already cleared during probate. No one at Zillow could figure it out, and they kept sending us e-mails saying that we have to sign, but if the lien came up as valid, we would have to pay them. After getting nowhere with Zillow, we enlisted the help of Ivy Beller. From the minute she reviewed the contracts, she knew what to do. She immediately got on the phone to investigate the lien. She resolved the matter personally within a week. In the meantime, Rachel was getting us offers on the condo; within a few days, we had two offers. Within two weeks, we had a cash buyer. Moreover, the offer was more than what Zillow was going to pay. The lien was removed, the deal was closed, and we had cash in hand within a month.
Throughout the entire contract, there was continual, open communication. We received phone calls and text messages, and everything was explained to us thoroughly. They were always available to answer questions and address concerns. In this digital age when everything is moving toward automation, nothing can replace the value of the personal relationship with a real-life realtor. Ivy and her team were personally involved in every aspect of the sale, and they always had our best interests at heart. They worked with integrity and had the expertise which enabled them to handle the unexpected. Most importantly, they genuinely cared about us and truly worked for their clients' interest.
We highly recommend Ivy Beller for all your real estate needs. You can trust her and her team 100%. "