The word on the world-wide streets is the Las Vegas Real Estate Market is wild with deals. I speak to people almost every day who think they can swoop in and scoop up a home for close to nothing. That’s until they actually “get into the market”…
These buyers, the one’s looking to purchase a home to move into, are finding that the old adage holds true here in Vegas.
Cash is king... Investors- many with deep, deep pockets have taken control. In most instances, if a home is a “super deal” (priced under $140,000 or so, or way under value), said investors are taking the lead. Beating out Mr. and Mrs. Smith on the home of their dreams simply because they’re a “better package” for the lenders who are selling their foreclosed properties and short sales. The statistics say that at least 50% of foreclosed properties here in Las Vegas are cash transactions…
Many buyers in today’s real estate market are just flat-out frustrated. Time after time, offer after offer, they are being out-bid and loosing home after home.
But there’s a little light on the horizon for these folks!
Fannie Mae recently announced a new pilot program geared towards giving people who are looking at purchasing a home here in Las Vegas the first opportunity to grab it. For the first 30 days that the home is listed, these “traditional”
buyers have the upper hand at purchasing Fannie Mae Home Path properties.
buyers have the upper hand at purchasing Fannie Mae Home Path properties.The programs test subject is right here in the epicenter of it all. Las Vegas is the first market to give this program a go and if it’s found to be successful- Fannie Mae anticipates replicating it across the U.S.
This could potentially be fabulous news for buyers- both first time and repeat- in search of a great home at a great value in Las Vegas!
As always, if you have any questions about purchasing or selling home in the Las Vegas Valley, please give me a call-
Talk Soon,
Heidi Griffith
Your Las Vegas Realtor® for Life!
Short Sale & Foreclosure Resource
Realty One Group
702-540-0420
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