Posted on December 2, 2013 - 05:42 PM
by Las Vegas Realtor® Hank Lauzon
Is the Market changing in Las Vegas..?? Absoutely.....!!
The typical Las Vegas Home that was down 70%from its peak has risen approximately 32% over the past 12 months. However,....conditions are definitely changing. With the inception of New Legislation in Nevada, the still low record lending rates and the increase in Las Vegas Home Inventory it is becoming quite clear that the market is moving from "Hot Seller Market" towards a more favorable position for the buyers.
Wether it is Summerlin, Aliante, Henderson or Mountains Edge the trend is pretty much the same. Foreclosure filings picked up in September and the banks have to adhere to certain guidelines that will complete the process in a more expedient manner. It is very possible to see a noteworthy increase in Foreclosure Activity by the second quarter of 2014. Long story short.... for those of you who are trying to time the market. Keep your eyes on Las Vegas.
For those Las Vegas Homeowners who are interested in seeing what their home is worth before prices stabilize,... feel free to contact me for a Free Market Analysis.