Cash is the obvious dominator with overall Las Vegas Area REO Purchases.  Cash not only dominates but CRUSHES financed purchases under $75000.  The primary reason is the stuff priced under $75000 is unhabitable and ineligible for financing or is condo ineligible for financing.  Asset managers for REO also may choose cash offers that may be lower than financed simply because financed offers have exceeded their appraised price on the property or because there are less contingencies and they can close quicker (which takes the asset - or liability - off of their books quicker.) Condo financing is currently a challenge in the Las Vegas Area.  Lenders want to see low investor concentration, low HOA deliquencies and no construction defect or other litigation against HOA or community.  To dete... 11/12/2010

Here is what buyers received in seller paid concessions on August 2010 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes: Less than $500:  68% ($500 only buys you a home warranty or (no and) an appraisal) Between $501-4000:  19% Over $4001:  13% This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory!  Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs! Last Month's Concession Stand Most Current Concession Stand What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports? General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-605 (the ave... 11/01/2010

Southern Nevada is getting its first "Green" building.  It will be a mixed use condo building located in the city of Henderson.  It will feature solar power collectors on the roof, Heat Mirror insulated glass, tankless water heaters, low wattage lights, energy star rated appliances, natural insulation and many other energy saving features. The builder is a LEED member (Leadership in Energy Efficient Design) and has several projects in Brussels and different parts of Russia.  When complete, Green Valley Lofts will house 44 residential condos.  With the cost of oil showing no signs of dropping in price, I think consumers are going to demand more energy efficient housing.  Most of the current builders here in Las Vegas only offer Energy Star rated new homes.  Some are starting to offer sol... 07/31/2006