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April 2007

****LAS VEGAS REAL ESTATE****

Posted at 10:18 PM, Apr. 3, 2007

Strong appreciation is on a back burner right now in Las Vegas. Many are trying to stay just even with the board in selling their home after our whirlwind market a couple years ago, when  we dealt with multiple offers and many homes selling for tens of thousands of dollars over list price.

The good news is if you are in this for the long term, purchasing and not just flipping, then the market is good for you.  Sellers are being forced to sell for much less than they would like and prices have even dropped a bit.

There are currently 25,000 + or minus residential listings in the MLS, 9,000 to 10,000 of which are pre-foreclosures or foreclosures.  There are currently 549 new home subdivisions in Las Vegas, many of them offer great incentives and reduced prices.

You can e-mail me further details at MaryWarren@KW.com.