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Investors Push Las Vegas Home Sales Higher
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 TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Investors Push Las Vegas Home Sales Higher
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
Investors Push Las Vegas Home Sales Higher

May 15, 2012 (Shirley Allen)

A record percentage of purchases by investors helped push monthly sales of new and resale homes in the Las Vegas area higher in March, accounting for over half the purchases during the month, according to the latest data released from DataQuick.

A total of 5,020 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in March. Sales were 18.4 percent higher than the 4,240 homes sold in February and were 1.4 percent higher than in March of 2011.

Home sales in the region typically increase 28.4 percent between February and March and were 2.0 percent higher than the average number of homes typically sold during the month.

New home sales were 33.2 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 1.8 percent lower than in March of last year.

Cash buyers accounted for 54.4 percent of the purchases in March, which was up from 52.9 percent in February and up from 54.0 percent a year earlier. The record for cash purchases was in March 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in March increased to $87,000 from $84,500 in February but down from $88,450 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for a record 51.2 percent of all homes sold in March, up from 48.2 percent in February. The prices they paid for their purchases increased to $95,000 from $90,000 in February but were down from $99,750 in March of 2011. The previous record amount of purchases made by absentee buyers was 49.9 percent in March of 2011.

The overall median price paid for new and resale homes and condos in March was $115,000, up from $112,000 in February but down from $117,000 in March of last year. Year-over-year, home prices have fallen for 18 consecutive months.

March’s median price is 63.1 percent below the peak median price of $312,000 in March 2006.

Distressed property sales accounted for 62.8 percent of the re-sale market in March with foreclosure re-sales accounting for 48.9 percent of total re-sales, up slightly from 48.6 percent in February, and short sales accounting for 13.9 percent of total re-sales, down from 14.8 percent the previous month.

Foreclosures fell from February to March with lenders foreclosing on 1,395 single-family homes and condos, down from 1,723 foreclosures in February. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) increased 38.1 percent in the sixth month following the new Nevada law that created additional requirements in order to foreclose on a property, growing from 914 in February to1,262 in March. In September, the month before the new law took effect, 4,507 NoDs were filed.

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

Source:
DataQuick

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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

May 15, 2012 (Shirley Allen)

A record percentage of purchases by investors helped push monthly sales of new and resale homes in the Las Vegas area higher in March, accounting for over half the purchases during the month, according to the latest data released from DataQuick.

A total of 5,020 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in March. Sales were 18.4 percent higher than the 4,240 homes sold in February and were 1.4 percent higher than in March of 2011.

Home sales in the region typically increase 28.4 percent between February and March and were 2.0 percent higher than the average number of homes typically sold during the month.

New home sales were 33.2 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 1.8 percent lower than in March of last year.

Cash buyers accounted for 54.4 percent of the purchases in March, which was up from 52.9 percent in February and up from 54.0 percent a year earlier. The record for cash purchases was in March 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in March increased to $87,000 from $84,500 in February but down from $88,450 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for a record 51.2 percent of all homes sold in March, up from 48.2 percent in February. The prices they paid for their purchases increased to $95,000 from $90,000 in February but were down from $99,750 in March of 2011. The previous record amount of purchases made by absentee buyers was 49.9 percent in March of 2011.

The overall median price paid for new and resale homes and condos in March was $115,000, up from $112,000 in February but down from $117,000 in March of last year. Year-over-year, home prices have fallen for 18 consecutive months.

March’s median price is 63.1 percent below the peak median price of $312,000 in March 2006.

Distressed property sales accounted for 62.8 percent of the re-sale market in March with foreclosure re-sales accounting for 48.9 percent of total re-sales, up slightly from 48.6 percent in February, and short sales accounting for 13.9 percent of total re-sales, down from 14.8 percent the previous month.

Foreclosures fell from February to March with lenders foreclosing on 1,395 single-family homes and condos, down from 1,723 foreclosures in February. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) increased 38.1 percent in the sixth month following the new Nevada law that created additional requirements in order to foreclose on a property, growing from 914 in February to1,262 in March. In September, the month before the new law took effect, 4,507 NoDs were filed.

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

Source:
DataQuick

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
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 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

May 15, 2012 (Shirley Allen)

A record percentage of purchases by investors helped push monthly sales of new and resale homes in the Las Vegas area higher in March, accounting for over half the purchases during the month, according to the latest data released from DataQuick.

A total of 5,020 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in March. Sales were 18.4 percent higher than the 4,240 homes sold in February and were 1.4 percent higher than in March of 2011.

Home sales in the region typically increase 28.4 percent between February and March and were 2.0 percent higher than the average number of homes typically sold during the month.

New home sales were 33.2 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 1.8 percent lower than in March of last year.

Cash buyers accounted for 54.4 percent of the purchases in March, which was up from 52.9 percent in February and up from 54.0 percent a year earlier. The record for cash purchases was in March 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in March increased to $87,000 from $84,500 in February but down from $88,450 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for a record 51.2 percent of all homes sold in March, up from 48.2 percent in February. The prices they paid for their purchases increased to $95,000 from $90,000 in February but were down from $99,750 in March of 2011. The previous record amount of purchases made by absentee buyers was 49.9 percent in March of 2011.

The overall median price paid for new and resale homes and condos in March was $115,000, up from $112,000 in February but down from $117,000 in March of last year. Year-over-year, home prices have fallen for 18 consecutive months.

March’s median price is 63.1 percent below the peak median price of $312,000 in March 2006.

Distressed property sales accounted for 62.8 percent of the re-sale market in March with foreclosure re-sales accounting for 48.9 percent of total re-sales, up slightly from 48.6 percent in February, and short sales accounting for 13.9 percent of total re-sales, down from 14.8 percent the previous month.

Foreclosures fell from February to March with lenders foreclosing on 1,395 single-family homes and condos, down from 1,723 foreclosures in February. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) increased 38.1 percent in the sixth month following the new Nevada law that created additional requirements in order to foreclose on a property, growing from 914 in February to1,262 in March. In September, the month before the new law took effect, 4,507 NoDs were filed.

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

Source:
DataQuick

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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