LAS VEGAS SHOWS HEALTHY SIGNS OF RECOVERY

In a recent report from the Greater Las Vegas Association of Realtors through an article published in the Las Vegas Review Journal, Las Vegas’ home sales is continuing its upward trend for 13 consecutive months, although the trend in falling home prices continued in April.

As reported in the RJ:

“Realtors sold 3,198 single-family homes in April, a 78.3 percent increase from the same month a year ago. Overall, sales have more than doubled for the first four months of the year.

However, the median price dropped 39.9 percent to $141,720 as bank-owned properties dominate the market, accounting for about 80 percent of all sales and driving prices down.

The inventory of homes for sale, which peaked above 24,000 in 2007, has steadily declined to 22,112 in April, down 3.6 percent from a year ago.”

You can read the full story here: http://www.lvrj.com/business/44634067.html

The increase in home sales is largely attributed to unbelievably low mortgage rates and the abundance of homes for sale on the market. This is a golden opportunity for homebuyers because the bargaining power is in their hands. But one word of caveat: in today’s market where bank-owned and foreclosed homes flood the market, you need to work with a trusted Realtor who can guide you through the myriad choices and decisions you have to make, especially when it comes to the due diligence which includes home inspections. You need to have the best qualified professionals to assist you in identifying the potential problems that may arise with distressed properties that have been neglected or is in dire need of maintenance, as these can cost the homebuyer extensively in future repairs. It can be a time-consuming process so patience is indeed a virtue.

With the continued decline in home prices, the existing market is paving the way for a more affordable Las Vegas, although it will take a little more time for normalcy to set-in. For homeowners who are considering selling their home, it will be a case of what caliber of Realtor you have. Listing agents are a dime-a-dozen, and finding someone who can actually help you sell your home is like finding a needle in a haystack.

It doesn’t matter which side of the fence you are on. The Dulcie Crawford Group can help you whether you are a first time homebuyer or a homeowner who wants to sell your property. Call us today for real sound advice – we thrive in a market like this!