Las Vegas Short Sale Update-Market Conditions...
May 15, 2010- Las Vegas, NV.
New government programs for Short Sales have been rolling out for a while now. The latest and newest program is called HAFA-Home Affordable Foreclosure Alternatives Program. This program has many benefits for Realtors, their clients and the banks! If you qualify under this new program, the benefits are very positive and makes the outcome of a Short Sale a positive experience rather than a complete nightmare!
Inventory: The Las Vegas Market has seen a huge decrease in available propeties. Do not be fooled in thinking that this is a buyers market. Yes, it is a good time to be a buyer in the Las Vegas Valley, however it is harder and harder to find quality homes without 10 offers on each home. With the bubble bursting and our market adjusting to supply and demand, most people that work and live in the Las Vegas Valley can now afford a home! Most of the time it will be cheaper to buy something rather than paying rent! This has caused allot of people to find affordable housing and that demand has increased with the supply of homes going down.
In general, if you are a seller facing a financial hardship now is the best time to Short Sale your home! With all the incentives out there, you need a Realtor that knows current Short Sale trends and what will be the best option for you during this process. Please feel free to contact me anytime if you have Short Sale or Real Estate related questions. 702-768-2552 Direct or www.lvrealty4sale.com