Units SoldClick the "Units Sold" link above for a cool graph!
Short sales:
In the past 30 days, 2/27 -3/27, Las Vegas valley has closed 564 single family short sales... out of only 12,121 currently listed as available, of these 8475 are contingent or pending (ie, in contract). This gives us a "listed to sold" ratio of 4.79%. Pending to Sold is 6.6%. It has been like this for years.
You'll hear this a lot:
In the same period, Las Vegas has closed a total of 2391 single family homes, short sales, REO and traditional/flippers. That makes single family short sales 23% of the closings! Oh boy!
Non-short sales:
In the past 30 days, 2/27 -3/27, Las Vegas valley has closed 1827 single family NON-short sales... out of only 8068 currently listed as available, of these 3921 are contingent or pending (ie, in contract). This gives us a "listed to sold" ratio of 22.64%. Pending to Sold is 46.6%. It has been like this for years.
The point is that the non short sales will close. There has always been a roughly 20% chance that any transaction will "fall out of escrow." With short sales it is about a 95% chance.
The new HAFA program (call me if you have questions) COULD help with regard to one note short sales of owner occupied houses. We'll see.
One final thing. Just an opinion. Other people's clients do all sorts of things BUT ... It is probably illegal in Nevada for a buyer to pay any portion of the fee for a short sale negotiator. Check out NRS 645.635 Par 5.
Also, the buyer can't be tricked into paying more than his agreed upon purchase price. You can't show the buyer is getting a "seller contribution to closing costs" on the HUD1 if in fact he is NOT really getting it. And, people who would like to get a commission from a Nevada real estate transaction need to have a Nevada real estate license. I'm just sayin'.
(ALL DATA = GLVAR - MLXCHANGE)
