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Las Vegas Real Estate Market Report, Keller Williams Realty Las Vegas, Las Vegas Short Sale Agent

Las Vegas Real Estate Market Report, Keller Williams Realty Las Vegas, Las Vegas Short Sale Agent

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Greater Living Southern Nevada

July 2011

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SAVE WATER WHERE IT COUNTS

Approximately 60 percent of Southern Nevada’s water is used outdoors, meaning it doesn’t earn return-flow credits and is counted against our Colorado River withdrawals. Because of this, theconservation rebates and programs of the Southern Nevada Water Authority (SNWA) focus on reducing outdoor water uses such as landscape watering.

The fact is, the water we use inside our homes, businesses and hotel rooms has much less impact on our community’s water supply than the water used outside because water used indoors is recycled and re-used. But that’s not to say that water should be left running while brushing your teeth or shaving. It requires a great deal of energy to treat and deliver the water to the Las Vegas Valley. Click onhttp://www.snwa.com/rebates/rebates.html for more information.


POLL: 9 IN 10 AMERICANS VALUE HOME OWNERSHIP

While nearly one-quarter of home owners owe more on their home than it’s currently worth, Americans still see the value in home ownership and still consider it part of the American dream. 

Nearly nine in 10 Americans say home ownership is an important part of the American dream, according to the latest New York Times and CBS News poll conducted June 24-28 of 979 adults. 

Overall, the majority of Americans polled also said the government should do more to help improve the housing market, and they mostly blame financial institutions for the sluggish housing market. 

Here are some of the findings from the poll:

  • 54 percent of those polled say the government should be doing more to improve the housing market. Only 16 percent say the government should be doing less. In fact, support for helping people who are facing financial distress from housing is higher than support for helping those who have been unemployed for several months. 53 percent say the government should help in providing financial assistance to those who are having trouble paying their mortgages.
  • Nearly no one surveyed was in favor of discontinuing the mortgage interest tax deduction, which government leaders have been eyeing as part of budget cuts. (Learn more.)
  • 42 percent of respondents blame lenders and 29 percent blame regulators for the housing crash.
  • About 66 percent of Americans say strategic default – that is, when underwater home owners stop making payments on their mortgage even though they have the means to keep paying – is not justified. Nearly 30 percent of those surveyed say strategic default is justified.


Source: “Despite Fears, Owning Home Retains Allure, Poll Shows,” The New York Times (June 29, 2011)


SALES STATISTICS FOR JUNE 2011


Good News! The number of closed sales for all three categories increased during the second quarter of 2011 over the first quarter of 2011. These buyers have recognized that home values are near or at the lowest point they may ever witness again. The message is clear to sellers if they price their property correctly and it will sell.

During the second quarter of 2011 the median sale price for each of the three categories was slightly less than the first quarter of 2011. This confirms the old saying – “if you price it right, it will sell!” The median price has been going up one month and down the next for several quarters indicating we’re on or near the bottom of home prices.


Search for Homes for Sale in Las Vegas on your own time by searching http://www.ballengrouphomes.com or call us at (702) 604-7739 for more information regarding the market.


 

The ULTIMATE Las Vegas Homes for

Sale and MLS Search Engine

Here you can:

  • Find Homes for Sale in Las Vegas
  • Find Homes for Sale in Henderson
  • Find Homes for Sale in North Las Vegas
  • Search for Short Sales and Foreclosures
  • Choose a Las Vegas Real Estate Agent
  • Set up a Custom Home Search
  • Receive New Listings in your in box
  • Find out what YOUR home is Worth
  • Determine your Purchasing Power
  • Stay as LONG as you like!!

Las Vegas Homes for Sale

Welcome to the Las Vegas homes and real estate portal: your single stop for finding a home in Las Vegas. Here you can search every available home for sale in 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 Las Vegas homes for sale.

YES – WE ARE HIRING Talented Agents Right Now

 

 

 

CLICK HERE to apply for Short Sale Listing Agent

CLICK HERE to apply for Showing Agent

CLICK HERE to apply for Lead Coordinator

Seeking Agents with Specialties:

Military Relocation

Active Adult Living Communities
Luxury Homes
Geographical Communities and area’s
Distressed Properties
Investments

 


Brought to you by…
Lori Ballen and
The Ballen Group of   
Keller Williams Realty Las Veg
(702) 604-7739


Why Use a REALTOR®?

The REALTOR® mark shows that your real estate agent is a member of the National Association of REALTORS® and adheres to a strict Code of Ethics. There are many reasons to use a REALTOR® to help you buy or sell a home. Here’s one:

A REALTOR® can give you up-to-date information on what is happening your local marketplace and the price, financing, terms and condition of competing properties.

For information on choosing and using a REALTOR®, click here.


Pending Home Sales Turn Around in May


Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices. “Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace,” he said. “Some markets have made a rapid turnaround, going from soft activity to contract signings rising by more than 30 percent from a year ago, including areas such as Hartford, Conn.; Indianapolis; Minneapolis; Houston; and Seattle.”

Pending home sales have trended up unevenly since bottoming last June, rising in seven of the past 11 months. “Home sales still could be 15 to 20 percent higher,” Yun said. “If banks would simply return to normal sound underwriting standards and begin lending to more creditworthy borrowers, we’d get a much faster recovery in the housing sector.”

“In addition, a nonsensical situation has developed recently in some states with HUD unable to complete foreclosure deals because of insufficient funds to pay attorney fees at closing, even with buyers offering the full listing price,” Yun added.

The PHSI in the Northeast rose 7.3 percent to 69.2 in May and is 4.4 percent above a year ago. In the Midwest the index jumped 10.5 percent to 82.8 and is 17.2 percent higher than May 2010. Pending home sales in the South increased 4.1 percent to an index of 95.0 in May and are 14.6 percent higher than a year ago. In the West the index surged 12.9 percent to 100.6 and is 13.5 percent above May 2010.

Yun cautioned that healthy job creation is necessary to ensure a solid recovery in both housing and the overall economy. “The job market has sputtered recently, and because variations in local job creation impact housing demand, markets will recover unevenly around the country,” he said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.


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