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April Home Sales Fall in Las Vegas
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You're Now Reading:
April Home Sales Fall in Las Vegas
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
April Home Sales Fall in Las Vegas
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June 1, 2012 (Shirley Allen)

Home sales were a bad bet in Las Vegas during April as purchases of new and existing single-family homes and condominiums fell by over twice as much as their historical norm for the month according to the latest data released from DataQuick.

A total of 4,409 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in April. Sales were 12.2 percent lower than the 5,020 homes sold in March and were 1.8 percent lower than in 4,490 homes sold in April of 2011. It was the first decline in year-over-year home sales in eleven months.

Home sales in the region typically decline 5.0 percent between March and April and were 4.9 percent below the average number of homes typically sold during the month.

New home sales were 24.6 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 11.9 percent lower than in April of last year and the were at their lowest since 2008.

Cash buyers accounted for 53.5 percent of the purchases in April, which was down from 54.4 percent in March and down from 54.0 percent a year earlier. The record for cash purchases was in April 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in April increased to $90,000 from $87,000 in March but up from the same amount in April of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 50.6 percent of all homes sold in April, down from a record 51.2 percent in March. The prices they paid for their purchases increased to $97,450 from $95,000 in March but were down from $99,900 in April of 2011.

The overall median price paid for new and resale homes and condos in April was $119,900, up from $115,000 in March and up from $117,000 in April of last year. It was the first time in 22 months that year-over-year home prices have increased.

April’s median price is 61.6 percent below the peak median price of $312,000 in April 2006.

Distressed property sales accounted for 58.6 percent of the re-sale market in April with foreclosure re-sales accounting for 44.0 percent of total re-sales, down from 49.0 percent in March, and short sales accounting for 14.6 percent of total re-sales, up from 13.6 percent the previous month.

Foreclosures fell again from March to April with lenders foreclosing on 1,237 single-family homes and condos, down from 1,395 foreclosures in March. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) declined 6.3 percent in the seventh month following the new Nevada law that created additional requirements in order to foreclose on a property, falling from 1,262 in March to1,182 in April. In September, the month before the new law took effect, 4,507 NoDs were filed.

Tags: existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

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ADVANTAGES OF USING
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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Tips
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Rates

June 1, 2012 (Shirley Allen)

Home sales were a bad bet in Las Vegas during April as purchases of new and existing single-family homes and condominiums fell by over twice as much as their historical norm for the month according to the latest data released from DataQuick.

A total of 4,409 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in April. Sales were 12.2 percent lower than the 5,020 homes sold in March and were 1.8 percent lower than in 4,490 homes sold in April of 2011. It was the first decline in year-over-year home sales in eleven months.

Home sales in the region typically decline 5.0 percent between March and April and were 4.9 percent below the average number of homes typically sold during the month.

New home sales were 24.6 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 11.9 percent lower than in April of last year and the were at their lowest since 2008.

Cash buyers accounted for 53.5 percent of the purchases in April, which was down from 54.4 percent in March and down from 54.0 percent a year earlier. The record for cash purchases was in April 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in April increased to $90,000 from $87,000 in March but up from the same amount in April of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 50.6 percent of all homes sold in April, down from a record 51.2 percent in March. The prices they paid for their purchases increased to $97,450 from $95,000 in March but were down from $99,900 in April of 2011.

The overall median price paid for new and resale homes and condos in April was $119,900, up from $115,000 in March and up from $117,000 in April of last year. It was the first time in 22 months that year-over-year home prices have increased.

April’s median price is 61.6 percent below the peak median price of $312,000 in April 2006.

Distressed property sales accounted for 58.6 percent of the re-sale market in April with foreclosure re-sales accounting for 44.0 percent of total re-sales, down from 49.0 percent in March, and short sales accounting for 14.6 percent of total re-sales, up from 13.6 percent the previous month.

Foreclosures fell again from March to April with lenders foreclosing on 1,237 single-family homes and condos, down from 1,395 foreclosures in March. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) declined 6.3 percent in the seventh month following the new Nevada law that created additional requirements in order to foreclose on a property, falling from 1,262 in March to1,182 in April. In September, the month before the new law took effect, 4,507 NoDs were filed.

Tags: existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

June 1, 2012 (Shirley Allen)

Home sales were a bad bet in Las Vegas during April as purchases of new and existing single-family homes and condominiums fell by over twice as much as their historical norm for the month according to the latest data released from DataQuick.

A total of 4,409 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in April. Sales were 12.2 percent lower than the 5,020 homes sold in March and were 1.8 percent lower than in 4,490 homes sold in April of 2011. It was the first decline in year-over-year home sales in eleven months.

Home sales in the region typically decline 5.0 percent between March and April and were 4.9 percent below the average number of homes typically sold during the month.

New home sales were 24.6 percent higher than last year and were at their highest level for the month since 2008 while existing home sales were 11.9 percent lower than in April of last year and the were at their lowest since 2008.

Cash buyers accounted for 53.5 percent of the purchases in April, which was down from 54.4 percent in March and down from 54.0 percent a year earlier. The record for cash purchases was in April 2011, when 56.7 percent of the sales were for cash.

The price that cash buyers paid for a home in April increased to $90,000 from $87,000 in March but up from the same amount in April of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 50.6 percent of all homes sold in April, down from a record 51.2 percent in March. The prices they paid for their purchases increased to $97,450 from $95,000 in March but were down from $99,900 in April of 2011.

The overall median price paid for new and resale homes and condos in April was $119,900, up from $115,000 in March and up from $117,000 in April of last year. It was the first time in 22 months that year-over-year home prices have increased.

April’s median price is 61.6 percent below the peak median price of $312,000 in April 2006.

Distressed property sales accounted for 58.6 percent of the re-sale market in April with foreclosure re-sales accounting for 44.0 percent of total re-sales, down from 49.0 percent in March, and short sales accounting for 14.6 percent of total re-sales, up from 13.6 percent the previous month.

Foreclosures fell again from March to April with lenders foreclosing on 1,237 single-family homes and condos, down from 1,395 foreclosures in March. The highest number of loans foreclosed by lenders in a single month was in May 2011, when lenders foreclosed on 3,818 loans.

Notices of default (NoDs) declined 6.3 percent in the seventh month following the new Nevada law that created additional requirements in order to foreclose on a property, falling from 1,262 in March to1,182 in April. In September, the month before the new law took effect, 4,507 NoDs were filed.

Tags: existing home sales, Las Vegas, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.