Dec. 13, 2011
INVESTORS AND FIRST-TIME HOME-BUYERS
HELPED MAKE THE 40,033 EXISTING HOME
SALES IN 2011 THE MOST SINCE 2005 --
These new buyers helped drive the healthiest home
resale market since the bubble popped! The median
price was $110,000, almost a third of what it was
during the height of the housing bubble.
"We've got plenty of investors at these current
prices", said a spokesman. Although prices have
dropped significantly, it is not always easy to get
into the market and tap into bargain-priced
Home buyers face lender delays and reluctant
appraisers plus the competition from other anxious
investors and home-buyers.
A recent home-buyer said, "it is not a quick process.
You have to be patient."
Banks are sometimes understaffed, unable to handle
the deluge of mortgage applications. Appraisers are
low-balling their appraisals struggling to assess the
ever-changing value of so many homes.
But patience and lots of it are still paying off for an
increasing number of buyers trying to take advantage
of this market which is indicated by the volume of sales.
Many investors are paying cash for homes and
condos, others with good credit are putting large
down payments on properties.
One successful buyer's advice -- "if you have some
money saved up and are looking for an investment
in Las Vegas, it's worth looking into." There's a
lot of inventory out there. Go the extra mile and
do your research. "