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Old 06-09-2014, 03:33 PM
 
15,818 posts, read 14,450,630 times
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Do you know what % of current sales are for cash?

Quote:
Originally Posted by ddrhazy View Post
20% less cash buyers compared to 1 year ago.
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Old 06-09-2014, 03:53 PM
 
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Quote:
Originally Posted by bbmw View Post
do you know what % of current sales are for cash?
41%
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Old 06-10-2014, 09:59 PM
 
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Out today:
Las Vegas home prices climbing again; short sales tapering off - VEGAS INC
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Old 06-11-2014, 06:43 AM
 
119 posts, read 183,289 times
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Quote:
Originally Posted by BBMW View Post
Are there still that many cash buyers in the market?
I've had 3 cash offers at or near list since putting my house up for sale on June 6th, one of which offered a 10 day closing. It's in 89178. I think it depends highly on the neighborhood.
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Old 06-11-2014, 09:17 AM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,258,437 times
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I was watching Fox last week and Bob Massi {Las Vegas Attorney and now legal consultant to Fox) was on about how the banks are handling short sales now and the recent Las Vegas real estate market. Good info.

Unfortunately, you have to watch the 1 minute car commercial first.


Short sale shift dramatically affecting homeowners? | On Air Videos | Fox News
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Old 06-11-2014, 09:19 AM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,258,437 times
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Quote:
Originally Posted by Koozie View Post
I've had 3 cash offers at or near list since putting my house up for sale on June 6th, one of which offered a 10 day closing. It's in 89178. I think it depends highly on the neighborhood.

You must live in or near Mountains Edge, Arden area! I have a friend who lives in that same zip code and it's in Mountains Edge Master Plan.

Nice and close to the mountains, beautiful community!

Congrats on your home sale,

Blessings
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Old 06-11-2014, 10:32 AM
 
15,818 posts, read 14,450,630 times
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If this boomlet is based on cash sales, it's pretty hard to argue with. The issue will come up when the cash buyers run out.

I still wonder what happens if/when the overhang of delinquent, unforeclosed properties ever hit the market en mass.
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Old 06-11-2014, 02:54 PM
 
Location: Las Vegas, NV
165 posts, read 209,164 times
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Quote:
Originally Posted by Koozie View Post
I've had 3 cash offers at or near list since putting my house up for sale on June 6th, one of which offered a 10 day closing. It's in 89178. I think it depends highly on the neighborhood.
I'm in 89178 as well, but not in the master planned section. I've seen 2 "For Sale" signs go up on my block alone this week. When I bought a year ago it was very hard to compete with all the cash buyers, it probably still is. I think the speculation by investors will remain until prices go up another 30-40% and the cash flow from rent can't keep up.
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Old 06-11-2014, 08:37 PM
 
171 posts, read 218,809 times
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Quote:
Originally Posted by Koozie View Post
I've had 3 cash offers at or near list since putting my house up for sale on June 6th, one of which offered a 10 day closing. It's in 89178. I think it depends highly on the neighborhood.
Good for you! Is it relatively a small house good for investment? Just curious about what kind of cash-buyers they are.
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Old 06-11-2014, 10:12 PM
 
Location: Imaginary Figment
11,449 posts, read 14,458,563 times
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It is irrelevant whether the market is within "historical norms", or driven primarily by cash investors. What is relevant is current data/market trends and how buyers/sellers act on it. That's it.

IMO I believe that we'll see a slow inventory increase, prices level off/pull back and cash investors look to put their money elsewhere (Vegas and other cities.) In other words, markets will begin to move towards an equilibrium after these run ups.

But that still doesn't change current market data today. If YoY increase still leaves us with a 3 month inventory supply, then it's still a seller's market.
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