Las Vegas real estate sale. Selected homes up to 50% off!!
Nov 4th, 2008 | By
Max Schmidt) | Category: Featured Real Estate Articles
Different organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%.
What may surprise you is that right now and possibly for the near distant future you may be able to make a deal for 50% or more off from the high points in the Las Vegas real estate market. In order to clarify myself I am going to use specific examples of recently Sold properties in the Las Vegas area.
The Greater Las Vegas Association of Realtors reported last month that the Median price of a single family home in Las Vegas was $195,000. See Las Vegas real estate Sales report here. The median size of a home in Las Vegas is just over 1,600 sq. ft. thus the median price per square foot is approximately $122 per square foot this year, Sept. 2008. If the market dropped another 10% then the price per square foot would be $110.
So lets look at some real recent home sales. Remember that these do not reflect the average deal but most Buyers want a better than average deal. With some real work by a good Buyers Agent you can possibly find homes now that beat the projected bottom of the market.
If you are reading this blog other than on MaxSellsVegas.com/LasVegasBlog you may not be able to see all the attached information. Please copy the above URL and past it adding the “www.” to it to see the original and the links with photos and information.
Please remember these homes are SOLD and are no longer available. Other opportunities are available!
Las Vegas Home Sale example #1
Selling price $79 per square foot $138,900 Oct. 6, 2008
Previously sold on 8/27/2004 for $265,000 or $151 per sq. ft.
This is no crummy dump (see photos on MLS link below). It was built in 2001 and sits in a newer neighborhood and is surrounded by newer neighborhoods, parks and within a thousand yards of the Los Prados Golf Course. Click on the ML# below to see the details of this SOLD home.
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Las Vegas Home Sale example #2
Selling price $66 per square foot $105,000 April 16, 2008
Previously sold on 4/26/2005 for $259,900 or $163 per sq. ft.
This is a SOLD single story home (costing more to build per sq. ft.) on a large 5,938 sq. ft lot. The 1,594 sq. ft. home was built in 2000 and has 4 bedrooms with 2 baths. See the ML# link below for more details.
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Las Vegas Home Sale example #3
Selling price $62 per square foot $79,900 Oct. 20, 2008
Previously sold on 3/16/2005 for $243,000 or $188 per sq. ft.
This single story 3 bedroom, 2 bath home required a new air conditioner but even had tile and hardwood floors! It was built in 1998. Be sure to check out the photos on this Sold home.
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We are now faced with the obvious question. If the average market descends another 10% to $110 per square foot. Why are these homes selling below that now? The answer is every Seller has different pressures and needs when it comes to selling. Other factors such as the number of homes for sale in a neighborhood, geographical location and previous price of recent sales also play a roll. The bottom line is you can buy now and receive a real discounted deal from where the market is estimated to bottom out.
Here’s the bad news. If you wait until the analysts declare “the market has bottomed out” you will be buying at the same time all the others that have been waiting jump in and start buying, thus driving up competition and prices for the homes your interested in. In other words you will have missed the bottom of the market.
If you would like for me to help you pick some deals to purchase please email me:Max@MaxSellsVegas.com or contact me Max at 702-334-2200. If you would like to see the latest Las Vegas real estate market statistics for this last month please go to www.MaxSellsVegas.com
For the Latest in Las Vegas real estate call Max at 702-334-2200. Or email me at:Max@MaxSellsVegas. com. Your comments and questions are welcome.
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[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!!Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we could drop in prices another 10%. What may surprise you is that right now and … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!! - The …Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we. [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!! - The …Here’s a quick excerptWhat may surprise you is that right now and possibly for the near distant future you may be able to make a deal for 50% or more off from the high points in the Las Vegas real estate market. In order to clarify myself I am going to use … [...]
[...] Max Schmidt wrote an interesting post today onLas Vegas real estate sale. Selected homes up to 50% off!! - The …Here’s a quick excerptDifferent organizations have reported recently that home prices are down in Las Vegas and on average about 30% from a year ago. Most of the experts feel we. [...]