North Las Vegas Real Estate Report - August 2011 The North Las Vegas real estate market saw sales numbers rebound nicely in August. A total of 779 homes were sold compared to 677 in July. Year-over-year sales are up 18.4% from the 658 North Las Vegas homes sold in August 2010. The mix of available North Las Vegas homes for sale is 55.2% short sales, 21.8% bank owned, and 23.0% regular sales.   The median selling price for single-family homes in North Las Vegas dropped by $2,000 t0 $110,000. This is down $5,000 from the beginning of the year. GLVAR deems information reliable but not guaranteed. Information is for MLS areas 101-103. More about North Las Vegas:North Las Vegas, Nevada - DemographicsNorth Las Vegas, Nevada - Fast Facts 09/14/2011

702-604-7739 - Find homes for Sale in Nevada at http://www.BallenGroupHomes.com   POOL HOMES FOR SALE IN NORTH LAS VEGAS       North Las Vegas Homes for Sale Welcome to the North Las Vegas homes and real estate portal: your single stop for finding a home in North Las Vegas. Here you can search every available home for sale in North Las Vegas. As of today there are many homes and properties for sale that are available to search. The number of homes changes daily, so be sure to keep coming back right here, to the best site for North Las Vegas homes for sale. 09/10/2011

  Foreclosure/Short Sale Listings (8/15/2011): Total Listings 13397; Short Sales: 6129, 46% of all listings; Bank Owned Listings: 3285, 24% of all listings. Short sale and REO listings consume 70% of total listings New Home Sales (July 2011, units sold): 297 Year Change -8.0% (excl condo conversions, highrises) New Home Sales (July 2011, median price): $193,293 Year Change -0.9% (excl condo conversions, highrises) Existing Home Sales (July 2011, units sold): 3928 Year Change +6.8% Existing Home Sales (July 2011, median price): $109,900 Year Change: -10.9% New Home Permits (July 2011): 287 Year Change -22.6% Rental Rate (MLS Monthly Average July 2011): $1434/month My analysis: Distressed listings (foreclosures and short sales) are 70% of total listings. Units of homes sold is impressive... 09/05/2011

North Las Vegas Home Sales: Average and Median Prices - July 2011 Homes in North Las Vegas saw average selling prices move down slightly (- $756) in July on a decrease in units sold of 14.29%. The median selling price edged up $1,000 to $112,000, a little down from $115,000 at the beginning of the year. The number of North Las Vegas homes sold is up 2.61% year over year, with 630 homes sold in July 2011 compared to 614 sales in 2010.   To find out more about buying or selling real estate in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.) 08/28/2011

North Las Vegas Real Estate Market Report - REOs, Short Sales and Regular Sales - July 2011 In my previous post about the North Las Vegas real estate market, I highlighted sales price, volume, and financing trends. Today I'll break down the different listing types of that market -- REOs (bank owned homes), short sales, and regular sales. Overall we have about 3.7 months of North Las Vegas real estate inventory. When we look at each of the listing types, we see that there are three distinct markets. Here are the current figures for North Las Vegas REOs, North Las Vegas short sales, and 'regular' North Las Vegas home sales. Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/July Sales = Absorption Rate). There are ... 08/28/2011

North Las Vegas Real Estate Trends - July 2011 For July 2011, there were 677 home sales in North Las Vegas with a median price of $107,000. Of those, 630 were single-family homes with a median price of $112,000. This is slightly above last year's pace of 614 sales, but prices have fallen by 13.8% from $129,900. Here's a quick look at price, volume and financing trends in the North Las Vegas real estate market.   In 2010 there were a total of 7,839 homes sold in North Las Vegas. This area is north of Charleston Boulevard, east of Rancho Road, and west of the I-15 freeway, and includes most of the city of North Las Vegas. The median sale was a 3-bedroom, 1814 square foot home with a selling price of $123,900. The median selling price for a single-family home fell by 4.7% during the year, ... 08/28/2011

North Las Vegas Homes For Sale: Listings by Price Range - August 28, 2011 Here's a summary of the single-family homes for sale in North Las Vegas. Short sales make up 54.9% of the inventory, while bank owned properties (REOs) equal 23.1%. This is the highest percentage of distressed properties in the Las Vegas valley.   To find out more about buying or selling homes in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.) 08/28/2011

Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles. Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084). There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet. Community Amenities Include: Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom. Sun City Aliante Market Report: Listings (8/15/2011): 45 Under Contract (8/15/2011): 24 Sold July 2011: 8 Sun City Aliante is currently enjoying a stable market. Since Last Month: Aliante Sun City, North Las Vegas Listings UP +1, Contracted Homes DOWN -1, Sales UP +5 For Current and Past Sun City Aliante Market Reports View Sun City Aliante Homes For Sale Here (Updated Daily) More Informatio... 08/28/2011

North Las Vegas Home Sales: Financing by Price Range - July 2011 Out of 630 single-family homes sold in North Las Vegas in July, 248 (39.4%) were cash sales. At prices below $100,000 cash accounted for 63.1% of sales, highlighting the extreme competition that first-time homebuyers face from investors. FHA and Conventional loans are popular choices for homes over $100,000. The higher rate of VA financing relative to other areas of the valley can be explained by the proximity of Nellis Air Force Base. To find out more about buying or selling homes in North Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com. (GLVAR deems information reliable but not guaranteed. Data is for MLS areas 101-103.) 08/27/2011

Las Vegas Area REO Inventory has FALLEN since last report (-117 units), Under Contracts have RISEN by (+40) units Closing data has FALLEN by (-106) units. Low interest rates have spurred a flurry of buyer interest & activity and it continues. REO sales accounted for 53% of all Las Vegas Area Valley resale closings in July 2011. REO listings account for only 24% of total resale listings. Current Listed Bank Owned Statistics: Listings (8/15/2011): 3285 Under Contract (8/15/2011): 3624 Sold July 2011: 2071 View Last Month's Report Here For Most Current Las Vegas REO Inventory Market Report. What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports? General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?... 08/19/2011

Cash REMAINS KING in the Las Vegas Area Real Estate Market!!! It is important for every buyer in the Las Vegas Area Real Estate Market to understand who their buyer competition is in this currently competitive seller's market LV is enjoying! It is important to understand how a seller looks at each financing type: Cash Offers: Generally have less contingencies and quicker close times. A cash offer may be accepted even if it is lower than a financed offer. Conventional Financing: Less strict with lender required repairs but larger down payments and more strict credit guidelines. FHA/VA Financing: Requires more scrutiny with lender required repairs via appraisal. In general these take longer to underwrite and close so a cash or conventional offer looks more enticing to the seller. FHA Req... 08/17/2011

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.) Units Leased: June 2011:  2485 May 2011: 2376 April 2011: 2342 March 2011: 2307 February 2011: 2253 January 2011: 2002 December 2010: 1889 November 2010: 1887 October 2010: 2119 September 2010: 2171 August 2010: 2300 July 2010: 2106 June 2010: 2214 May 2010: 2049 Average Monthly Rental Rates: June 2011:  $1765 May 2011: $1257 April 2011: $1207 March 2011: $1497 February 2011: $1501 January 2011: $1449 December 2010: $15... 08/13/2011

North Las Vegas Real Estate Report - July 2011 The North Las Vegas real estate market saw a decline in single-family sales in July. A total of 677 homes were sold compared to 781 in June. Year-over-year sales are up 1.2% from the 669 North Las Vegas homes sold in July 2010. The mix of available North Las Vegas homes for sale is 53.1% short sales, 24.1% bank owned, and 22.8% regular sales.   The median selling price for single-family homes in North Las Vegas stayed even at $112,000. This is down $3,000 from the beginning of the year. GLVAR deems information reliable but not guaranteed. Information is for MLS areas 101-103. More about North Las Vegas:North Las Vegas, Nevada - DemographicsNorth Las Vegas, Nevada - Fast Facts 08/09/2011

 Another Sucessfull short sale closed in N. Las Vegas, BofA First and Saxon second. This was a challange. When the buyer first contacted me the property was scheduled to be auctioned off on the court house steps in just a couple of days. With a first and second with different companies and the scheduled sale date i informed the seller that this would be challenge, but we would begin to attack the problem. The homeowner was in denial and did not know what to do. But after some assurance, they knew they were in good hands. i rolled up my sleeves and went to work. First, i had to get the sale date postponed. What they didn't tell me was that they had already had a previous sale date that was previously postponed. The first was with B of A and the second was with Saxon. Surprisingly enough,... 08/01/2011

Another Las Vegas short sale in contract !!! This HAFA approved short sale just went into contract. This Three bedroom two bath home on a cul de sac was an incredible bargain. Priced below cost to reproduce it. Now is the time to purchase Las Vegas real estate. For more information on Las Vegas short sales go to www.shortsell4free.com  We are getting are short sales approved and closed. Let my extensive Mortgage and real estate background work for you. Call today 702-768-1097 07/30/2011

Las Vegas Real Estate Inventory has stabilized after the months of increase following the first time buyer's tax credit expiration. Against my predictions, we are still a seller's market after flirting with stable market territory for months. . Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (7/15/2011): 13734 Under Contract (7/15/2011): 13502 Sold June 2011: 4395 Short Sales: 45% of Listings 25% of Sales REO (Foreclosures, Bank Owned:) 25% of Listings 50% of Sales In One Month: Listings are DOWN -192 units, Contracted Listings DOWN -154 units, Sales are UP +554 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS... 07/27/2011

North Las Vegas Real Estate Report - June 2011 The North Las Vegas real estate market experienced a strong increase in single-family sales in June. A total of 781 homes were sold in May compared to 693 in May. Year-over-year sales are up 1.7% from the 768 North Las Vegas homes sold in June 2010. The mix of available North Las Vegas homes for sale is 52.4% short sales, 24.4% bank owned, and 23.2% regular sales.   The median selling price for single-family homes in North Las Vegas fell by $3,000 to $112,000. This is the first movement in price in 2011 after five consecutive months at $115,000. GLVAR deems information reliable but not guaranteed. Information is for MLS areas 101-103. More about North Las Vegas:North Las Vegas, Nevada - DemographicsNorth Las Vegas, Nevada - Fast Facts 07/22/2011

Awesome North Las Vegas Short Sale with a Pool  $94,900Great opportunity to own a Las Vegas homeNewer Kitchen and appliances, Vaulted Ceilings.   07/21/2011

The absorption rate for Las Vegas Valley Area Short Sales has swung from a buyer's market back to a stable market.  Inventory has DECREASED by -198 units.  Under Contract has DECREASED by -38 units.    Sold units have INCREASED by +52 units. There are many reasons for the lack of closings in this market and it is outlined in this post.  Short Sale Synopsis: Listings 7/15/2011:  6203 Pending 7/15/2011: 8291 Closed June 2011: 968 Short Sales Currently Account for: 45% of All Las Vegas Valley Listings 22% of All Las Vegas Valley Sales  Read here for last month's report on Las Vegas Area Short Sales. Most Current Market Report For Short Sales Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers What Areas Do You Cover for your Las Vegas Area Real Estate M... 07/19/2011

Age Restricted (55+) Communities are scattered throughout the valley.  Many offer a variety community amenities for Seniors who enjoy active lifestyles. Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084).  There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet.  Community Amenities Include:  Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom. Sun City Aliante Market Report: Listings (7/15/2011):  44 Under Contract (7/15/2011):  25 Sold June 2011:  3 Sun City Aliante is currently enjoying a stable market. Since Last Month:   Aliante Sun City, North Las Vegas Listings DOWN -10, Contracted Homes UP +6, Sales DOWN -8 For Current and Past Sun City Aliante Market Reports View Sun City Aliante Homes For Sale Here (Updated Daily) Mor... 07/16/2011