This Week in Las Vegas Real Estate
Saturday, May 10th, 2008Opportunity continues to present itself in the Las Vegas real estate market! Home prices continue to fall and properties owned by banks and lenders accounted for more than half of the homes sold in April.
We are seeing many banks purposely pricing under market value in order to entice Buyers to take action. It seems to be working. It appears that if a home is in a decent area, in good condition and under-priced it will sell in a matter of days and there will be multiple offers. These types of properties are not staying on the market long!
In addition to very aggressive pricing by the banks, interest rates have moved to the down side this week as well. 30-year fixed rates today were between 5.5% and 5.8%.
The combination of prices reminiscent of 2003-2004 and very favorable interest rates absolutely make a strong case for purchasing a Las Vegas home right now!





You would have to be completely “unplugged” from every conceivable outlet of 21st century media to miss the fact that the home lending industry is going through a serious crisis nationwide. The stock market has lost upwards of 1,000 points over “liquidity concerns” and over 120 mortgage lenders have shut their doors. A significant component of the lending drama concerns the issue of abusive lending practices in the “subprime” mortgage market.
The Michelle Sterling Team at Prudential Americana Group, REALTORS has come across yet another fantastic deal in the 

The PGA Fall Expo 2007 is coming to Las Vegas on September 11 and 12.





