Welcome to our third week of Twenty-Ten!  (I’ve decided this is the way I will pronounce our much welcomed new year!)  Three words describe 2009- WHAT A YEAR!  Interesting as it was, a lot, I mean a whole lot- took place…

2010 marks the 14th year of my Real Estate career and although every single year has been different, 2009 included the most changes and adjustments I’ve ever witnessed.  It’s certainly been an exciting ride- we saw the Vegas market go up, down and sideways… The media reported good stories, bad stories and everything in between.  Regardless of the reported news, actual facts proved that Las Vegas Real Estate sales were on an upturn (see info below), and prices continued to dip back and forth.  Interesting data all the way around.

I spent many hours putting together your 2009 Year End Review and hope you find it informative.  There was a lot of information, so I’ve tried my best to highlight and recap the information that affected us the most.  Enjoy!

2009 Real Estate has been coined “The Year of the First-Time Homebuyer” and that isn’t a surprise.  The past year brought us many newsworthy real estate topics but the First time Homebuyer Tax Credit was at the top of that list.

Here are my choices for the top Real Estate stories and information for ’09:

• 2009- Year of the First Time Homebuyer
• Homebuyer Tax Credit timeline extended
• Homebuyer Tax Credit extended to non first-time purchasers
• Long-term, committed Real Estate Investors approach Las Vegas market with zeal
• The Federal Reserve purchased billions of dollars in Mortgage Backed Securities helping keep Interest Rates at all time lows
• Bank-Owned properties (REO’s) and Short Sales flood the real estate market- offering buyers deals of a lifetime
• 2009 home foreclosures helped cause the financial collapse, but by the end of the year turned out to be the most sought after properties
• Many Sellers turned to SHORT SALES in hope their homes would not get foreclosed upon.  A great percentage of these sales were approved by lenders and closed escrow
• Because of the Real Estate and Economic “crash”, many lenders, including Taylor Bean & Whitaker close their doors suddenly
• Fannie Mae offers “Deed for Lease” program to distressed homeowners
• Home Builders start to see great increases in new home sales towards end of 2009
• Nation numbers show affordability of homes the greatest in almost 25 years
• Nationally home sales saw dramatic drops throughout the year until the Feds announced the extension and revision of the Homebuyer Tax Credit
• Locally, the Las Vegas Valley saw one of its highest sales years on record, primarily by buyers purchasing Foreclosures and Short Sales

Las Vegas, Nevada  saw record numbers for high sales in 2009.  According to the Greater Las Vegas Association of Realtors,  46,879 homes were sold.  The 2009 numbers are almost double those we saw in 2008, and trail just behind 2004′s sales data (the year of the boom).

Here’s a look at the month-by-month breakdowns for 2009 Real Estate Closings in the Greater Las Vegas Valley (data includes single family homes only):

January:
Single Family: 1644
Median Sale Price: $158,057

February:
Single Family: 2287
Median Sale Price: $155,900

March:
Single Family: 2980
Median Sale Price: $149,000

April:
Single Family: 3205
Median Sale Price: $141,900

May:
Single Family: 3262
Median Sale Price: $140,000

June:
Single Family: 3784
Median Sale Price: $140,000

July:
Single Family: 3740
Median Sale Price: $138,300

August:
Single Family: 3236
Median Sale Price: $135,000

September:
Single Family: 3360
Median Sale Price: $138,000

October:
Single Family: 3542
Median Sale Price: $139,000

November:
Single Family: 3127
Median Sale Price: $140,000

December:
Single Family: 3422
Median Sale Price: $135,900

Information provided by GLVAR MLS.  Deemed reliable, not guaranteed.

As always, if you have any questions about  selling or purchasing a home in the Las Vegas Valley, please give me a call-