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Distressed Properties Make Up 68% of Resales in Las Vegas
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Distressed Properties Make Up 68% of Resales in Las Vegas
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Distressed Properties Make Up 68% of Resales in Las Vegas

June 30, 2011 (Shirley Allen)

Sixty-eight percent of all existing home sales in the Las Vegas region are distressed properties according to the latest data released from DataQuick. New and existing home sales are at a five year high, but the high level of foreclosures continues to keep market prices low.

A total of 4,570 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in May. Sales were 1.8 percent higher than April and 1.7 percent higher than May of 2010. It was the highest level of sales since May of 2006.

Cash buyers were responsible for 53 percent of the purchases in May, which was down from 54 percent in April, but up from 47.6 percent a year earlier. The record for cash purchases was in February 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $89,000, which is down from $90,000 in April and down from $105,000 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 46.2 percent of all homes sold in May. The prices they paid were also less than previous months with the median price paid in May being $98,000, which was down from $99,900 in April and down from $112,000 in May of 2010.

The overall median price paid for new and resale homes and condos in May was $117,000, which was the same as in April and March, but down from $135,000 in May of last year. Cash buyers and investors accounted for 40.1 percent of the sales for homes under $100,000. A year ago, they accounted for 30.1 percent of those same sales.

The current median price is at its lowest level since October of 1995 when the median home price was $113,000, and it’s 62.5 percent below the peak median price of $312,000 in November 2006.

Distressed sales represented 68 percent of the resale market in May as foreclosures accounted for 54.9 percent of the distressed sales and short sales accounted for 13.1 percent of the distressed sales.

Foreclosures continued to rock the gambling Mecca in May with lenders foreclosing on 3,818 single-family homes and condos last month, eclipsing the prior record of 3,718 foreclosures in February.

Tags: DataQuick, existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 30, 2011 (Shirley Allen)

Sixty-eight percent of all existing home sales in the Las Vegas region are distressed properties according to the latest data released from DataQuick. New and existing home sales are at a five year high, but the high level of foreclosures continues to keep market prices low.

A total of 4,570 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in May. Sales were 1.8 percent higher than April and 1.7 percent higher than May of 2010. It was the highest level of sales since May of 2006.

Cash buyers were responsible for 53 percent of the purchases in May, which was down from 54 percent in April, but up from 47.6 percent a year earlier. The record for cash purchases was in February 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $89,000, which is down from $90,000 in April and down from $105,000 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 46.2 percent of all homes sold in May. The prices they paid were also less than previous months with the median price paid in May being $98,000, which was down from $99,900 in April and down from $112,000 in May of 2010.

The overall median price paid for new and resale homes and condos in May was $117,000, which was the same as in April and March, but down from $135,000 in May of last year. Cash buyers and investors accounted for 40.1 percent of the sales for homes under $100,000. A year ago, they accounted for 30.1 percent of those same sales.

The current median price is at its lowest level since October of 1995 when the median home price was $113,000, and it’s 62.5 percent below the peak median price of $312,000 in November 2006.

Distressed sales represented 68 percent of the resale market in May as foreclosures accounted for 54.9 percent of the distressed sales and short sales accounted for 13.1 percent of the distressed sales.

Foreclosures continued to rock the gambling Mecca in May with lenders foreclosing on 3,818 single-family homes and condos last month, eclipsing the prior record of 3,718 foreclosures in February.

Tags: DataQuick, existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 30, 2011 (Shirley Allen)

Sixty-eight percent of all existing home sales in the Las Vegas region are distressed properties according to the latest data released from DataQuick. New and existing home sales are at a five year high, but the high level of foreclosures continues to keep market prices low.

A total of 4,570 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in May. Sales were 1.8 percent higher than April and 1.7 percent higher than May of 2010. It was the highest level of sales since May of 2006.

Cash buyers were responsible for 53 percent of the purchases in May, which was down from 54 percent in April, but up from 47.6 percent a year earlier. The record for cash purchases was in February 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $89,000, which is down from $90,000 in April and down from $105,000 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 46.2 percent of all homes sold in May. The prices they paid were also less than previous months with the median price paid in May being $98,000, which was down from $99,900 in April and down from $112,000 in May of 2010.

The overall median price paid for new and resale homes and condos in May was $117,000, which was the same as in April and March, but down from $135,000 in May of last year. Cash buyers and investors accounted for 40.1 percent of the sales for homes under $100,000. A year ago, they accounted for 30.1 percent of those same sales.

The current median price is at its lowest level since October of 1995 when the median home price was $113,000, and it’s 62.5 percent below the peak median price of $312,000 in November 2006.

Distressed sales represented 68 percent of the resale market in May as foreclosures accounted for 54.9 percent of the distressed sales and short sales accounted for 13.1 percent of the distressed sales.

Foreclosures continued to rock the gambling Mecca in May with lenders foreclosing on 3,818 single-family homes and condos last month, eclipsing the prior record of 3,718 foreclosures in February.

Tags: DataQuick, existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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