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Old 05-11-2015, 03:43 PM
 
Location: Las Vegas
561 posts, read 681,365 times
Reputation: 617

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Quote:
Originally Posted by Everdeen View Post
I go into Reator.com, perhaps, once a week and look at home prices. 95% of the homes in my neighborhood are Pending.

Has there been a buying frenzy going on lately?
Realtor.com counts as "pending" anything other than "active." Take a closer look at the home listings. There's an excellent chance that about 10% are actually "pending," while the others just have contingent offers on them. Maybe the deal will go through, maybe it won't.
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Old 05-11-2015, 04:19 PM
 
Location: Southern Highlands
2,413 posts, read 2,029,998 times
Reputation: 2236
I have never seen an offer that did not have contingencies.
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Old 05-11-2015, 04:36 PM
 
Location: Las Vegas
561 posts, read 681,365 times
Reputation: 617
Quote:
Originally Posted by Cold Warrior View Post
I have never seen an offer that did not have contingencies.
Right. But a "pending" status in MLS is different from a "contingent offer" status in MLS. The thumbnails on realtor.com say "pending," even when that's not the MLS status.
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Old 05-11-2015, 05:50 PM
 
Location: Southern Highlands
2,413 posts, read 2,029,998 times
Reputation: 2236
My MLS has Pending, Pending Short LAppvl, and Pending Bring Backup statuses. There is no 'contingent' status. Is yours different?
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Old 05-11-2015, 08:18 PM
 
2,076 posts, read 4,073,195 times
Reputation: 2589
I'm sure it's area of town specific, but I've seen a noticeable softening in the RE market during the last month. Price drops are starting to occur and my RE buddies are telling me showings are way down at the moment.
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Old 05-11-2015, 08:22 PM
 
Location: Paradise
3,663 posts, read 5,674,513 times
Reputation: 4865
Quote:
Originally Posted by WestieJeff View Post
I'm sure it's area of town specific, but I've seen a noticeable softening in the RE market during the last month. Price drops are starting to occur and my RE buddies are telling me showings are way down at the moment.
I just don't see much for sale. I try to keep an eye on it to get an idea as to what my house is worth.

How odd about the price drops. I would think that this time of year it would not be soft. Maybe things will pick up when school gets out?
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Old 05-11-2015, 09:07 PM
 
12,973 posts, read 15,800,908 times
Reputation: 5478
Quote:
Originally Posted by Everdeen View Post
I just don't see much for sale. I try to keep an eye on it to get an idea as to what my house is worth.

How odd about the price drops. I would think that this time of year it would not be soft. Maybe things will pick up when school gets out?
Last 30 day sales prices are up a couple of percent. Unhealthily high in my view though calculated from average prices which are subject to big sale noise....ie a single 4 million sale can pop up the average.

Rate of sales is flat. Inventory holding at 3 months which is a strong sellers market.

Things are chugging upward...no question. May adjust if the present big up is in fact noise...but no way there is any price drop.

Just listed one of the ten best back yards in Las Vegas. Complete with hurricane palms and a mountain view. Still 75 grand below 2004.
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Old 05-11-2015, 10:00 PM
 
28,803 posts, read 47,694,717 times
Reputation: 37905
Two houses within 8 blocks of me in 89134. One sold for $196SF, the other for $198SF. There's one for sale around the corner and down a couple of blocks for $170SF, but it backs to a busy street. Neither sale seemed to take that long. One was less than two months I know, the other maybe three months.

Saw another one across from the $170SF home tonight. Backs to the golf course, but on that busy street. $218SF.

Last edited by Tek_Freek; 05-11-2015 at 10:13 PM..
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Old 05-11-2015, 10:03 PM
 
Location: Las Vegas, NV
188 posts, read 358,158 times
Reputation: 171
I have recently started searching for a home and it is starting to look like it did back in the early 2000's. Some houses are going in a day or 2 with multiple offers and bidding wars are starting again. I do not want to rush and immediately make an offer after only seeing it one quick time. I like to go a few times at different times and talk to neighbors and get a better feel. We have seen a few houses we considered and they went under contract within hours of me seeing it, before I can see it again. It is true that Realtor.com shows 95% of the houses in my range as pending. My agent sends me the same stuff that is on there and I think it is the most accurate now.
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Old 05-11-2015, 10:15 PM
 
Location: Orange County/Las Vegas
2,542 posts, read 2,736,501 times
Reputation: 2519
Quote:
Originally Posted by AbbieRose View Post
I have recently started searching for a home and it is starting to look like it did back in the early 2000's. Some houses are going in a day or 2 with multiple offers and bidding wars are starting again. I do not want to rush and immediately make an offer after only seeing it one quick time. I like to go a few times at different times and talk to neighbors and get a better feel. We have seen a few houses we considered and they went under contract within hours of me seeing it, before I can see it again. It is true that Realtor.com shows 95% of the houses in my range as pending. My agent sends me the same stuff that is on there and I think it is the most accurate now.


Find an agent that will show you properties as soon as they are listed otherwise forget about it.
Be ready to make an offer on the really nice well priced properties.
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