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Las Vegas Home Sales Highest for a January in Five Years
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
Las Vegas Home Sales Highest for a January in Five Years
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
Las Vegas Home Sales Highest for a January in Five Years

February 29, 2012 (Shirley Allen)

Monthly sales of new and resale homes in the Las Vegas area followed seasonal trends and declined last month but were still at their highest level for a January in five years according to the latest data released from DataQuick.

A total of 4,038 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in January. Sales were 16.6 percent lower than the 4,823 homes sold in December and were 8.5 percent higher than in January of 2011.

Home sales in the region typically decline 23.7 percent between December and January but were 15.6 percent higher than the average number of homes typically sold during the month.

New home sales continued to be far below average but were at their highest level since 2008 while resold home sales were 7.0 percent higher than in January of last year and were at their highest level for a January since 2005.

Cash buyers accounted for 53.7 percent of the purchases in January, which was up from 50.9 percent in December but down from 54.5 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 paid for a home in January fell to $80,000 from $81,180 in December and down from $92,250 in January of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 49.1 percent of all homes sold in January, up from 47.2 percent in December. The prices they paid for their purchases fell to $90,000 in January from $95,000 in December and were down from $100,000 in January of 2011. The 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 January was $110,000, down from $115,000 in December and down from $119,000 in January of last year. Year-over-year, home prices have fallen for 16 consecutive months.

January’s median price is 64.7 percent below the peak median price of $312,000 in January 2006.

Distressed property sales accounted for 66.4 percent of the re-sale market in January as foreclosure re-sales accounted for 52.6 percent of total re-sales, up slightly from 52.3 percent in December, and short sales accounted for 13.8 percent of total re-sales, up from 13.7 percent the previous month.

Foreclosures increased in January from December with lenders foreclosing on 1,960 single-family homes and condos, up from 1,744 foreclosures in December. 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 13.8 percent in the fourth month following the new Nevada law that created additional requirements in order to foreclose on a property, rising from 921 in December to 1,048 in January. In September, the month before the new law took effect, 4,507 NoDs were filed. In January of last year, 5,497 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.
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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

February 29, 2012 (Shirley Allen)

Monthly sales of new and resale homes in the Las Vegas area followed seasonal trends and declined last month but were still at their highest level for a January in five years according to the latest data released from DataQuick.

A total of 4,038 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in January. Sales were 16.6 percent lower than the 4,823 homes sold in December and were 8.5 percent higher than in January of 2011.

Home sales in the region typically decline 23.7 percent between December and January but were 15.6 percent higher than the average number of homes typically sold during the month.

New home sales continued to be far below average but were at their highest level since 2008 while resold home sales were 7.0 percent higher than in January of last year and were at their highest level for a January since 2005.

Cash buyers accounted for 53.7 percent of the purchases in January, which was up from 50.9 percent in December but down from 54.5 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 paid for a home in January fell to $80,000 from $81,180 in December and down from $92,250 in January of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 49.1 percent of all homes sold in January, up from 47.2 percent in December. The prices they paid for their purchases fell to $90,000 in January from $95,000 in December and were down from $100,000 in January of 2011. The 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 January was $110,000, down from $115,000 in December and down from $119,000 in January of last year. Year-over-year, home prices have fallen for 16 consecutive months.

January’s median price is 64.7 percent below the peak median price of $312,000 in January 2006.

Distressed property sales accounted for 66.4 percent of the re-sale market in January as foreclosure re-sales accounted for 52.6 percent of total re-sales, up slightly from 52.3 percent in December, and short sales accounted for 13.8 percent of total re-sales, up from 13.7 percent the previous month.

Foreclosures increased in January from December with lenders foreclosing on 1,960 single-family homes and condos, up from 1,744 foreclosures in December. 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 13.8 percent in the fourth month following the new Nevada law that created additional requirements in order to foreclose on a property, rising from 921 in December to 1,048 in January. In September, the month before the new law took effect, 4,507 NoDs were filed. In January of last year, 5,497 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

February 29, 2012 (Shirley Allen)

Monthly sales of new and resale homes in the Las Vegas area followed seasonal trends and declined last month but were still at their highest level for a January in five years according to the latest data released from DataQuick.

A total of 4,038 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in January. Sales were 16.6 percent lower than the 4,823 homes sold in December and were 8.5 percent higher than in January of 2011.

Home sales in the region typically decline 23.7 percent between December and January but were 15.6 percent higher than the average number of homes typically sold during the month.

New home sales continued to be far below average but were at their highest level since 2008 while resold home sales were 7.0 percent higher than in January of last year and were at their highest level for a January since 2005.

Cash buyers accounted for 53.7 percent of the purchases in January, which was up from 50.9 percent in December but down from 54.5 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 paid for a home in January fell to $80,000 from $81,180 in December and down from $92,250 in January of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 49.1 percent of all homes sold in January, up from 47.2 percent in December. The prices they paid for their purchases fell to $90,000 in January from $95,000 in December and were down from $100,000 in January of 2011. The 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 January was $110,000, down from $115,000 in December and down from $119,000 in January of last year. Year-over-year, home prices have fallen for 16 consecutive months.

January’s median price is 64.7 percent below the peak median price of $312,000 in January 2006.

Distressed property sales accounted for 66.4 percent of the re-sale market in January as foreclosure re-sales accounted for 52.6 percent of total re-sales, up slightly from 52.3 percent in December, and short sales accounted for 13.8 percent of total re-sales, up from 13.7 percent the previous month.

Foreclosures increased in January from December with lenders foreclosing on 1,960 single-family homes and condos, up from 1,744 foreclosures in December. 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 13.8 percent in the fourth month following the new Nevada law that created additional requirements in order to foreclose on a property, rising from 921 in December to 1,048 in January. In September, the month before the new law took effect, 4,507 NoDs were filed. In January of last year, 5,497 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