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| Shopping for an Las Vegas house? Now is THE Best Time! |
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| Thursday, 30 April 2009 12:53 |
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in the region have started rising again compared with a year ago. And half the deals involve bank-owned foreclosures or “short sales” — properties for which the bank has agreed to take less than the amount owed on the mortgage. Throughout this blog you can find much more information on Short Who’s buying them? Anecdotal reports and a few surveys indicate that first-time home buyers, who don’t have to worry about selling an existing property, and investors venturing into the second-home market for the first time or searching for bargains to add to their inventory, are responsible for most of the Bulk auctions of both homes and condominiums are creating buzz in the local Lenders are becoming more responsive. However, the short-sale process still remains slower and more cumbersome than a regular, open-market sale between a willing seller and a qualified buyer. The timing even though is better still encompasses a 4-6 month time frame in general. Therefore, Now is the time to buy. We are at or near the bottom of this cycle and there is little room for prices to continue to drop. Yes, prices in some area may continue to fall but as a general market I feel prices are ready to start stabilizing. Now, that doesn’t mean they’re headed up any time soon. I feel that we are at or near the bottom and we’ll drag along the bottom here possibly for several months before we start showing a modest increase. When price start to grow, I feel that the new growth will be at a 2-5% rate in general. Some areas more, some area less. So, Las Vegas buyers let’s BUY some property. |