David Cooper..Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. email email@example.com or call for FREE daily list. +1-7024997037
Nice picture you have on your profile. I don't know where you are but it looks very beautiful. I can provide you with all the information I have available. Several title companies I work with can provide us the informaiton you are requesting. I know you have other agents who have offered to help you so depending on what you decide let me know if I can be of assistance to you.
Enjoy your day, Penny
Penny O'Brien with Simply Vegas
3042 S. Durango
Las Vegas, NV 89117
Call or text: 702.321.9383
David Cooper Las Vegas Foreclosure REOs with Cash Flow. email or call for FREE list +1-7024997037
not a real estate agent
You may be too heady for most of us who post on Trulia. To my knowledge there isn't one place where you can go to get all of this information. there is a big seminar today that if you read this early enough, you might want to attend. it is called the Crystal Ball Seminar. go to: http://www.crystalballseminars.com/nev/ for more info. for notices of Default you can go to: http://www.lvdefault.com/ For notice of trustees sales and postponements go to Nevada legal news at: https://www.nevadalegalnews.com/index.php As for home prices (median, trends, etc), send me your email and I will send you a monthly update by zip code. Cost of finished lots? That is a tough one. Virtually no one (very few) is finishing lots right now, but a general rule of thumb is that it takes approximately $25,000 per lot to develop the dirt into a building site. Add the cost of the land to that, the density per acre and you have your costs. But, having said all that, when the boom turned to bust, there were so many lots that got turned back into the banks that pretty much any construction you see (most, not all) today is on finished and repossessed lots which builders are now acquiring for as little as $25,000 per finished lot - the cost of bringing in a finished lot and the dirt is free!
Replacement costs are so high right now in relation to the price you can buy a foreclosure or short sale for as to render that info academic. But it is not impossible to figure. If you look at the price of new homes, take off $25,000 on the low side and $50,000 on the high side (for the lot cost), subtract an additional 10 to 15% for builder profit (10% is probably closer to reality) divide the result by the square footage and you will come pretty close to the replacement cost per square foot. As I said, it is a bit academic since REOs and Short Sales are so ridiculously lower than new homes, it just serves to make these home prices feel more like a bargain. Continuing that academic look, if you look at what any builder is selling the same size, home with similar fit, and finish subtract the price of an REO, divide by the square footage and you will have the spread or margin from replacement cost to today's market prices. Generally it is between $10 per square foot on the low side and $30 per square foot on the high side, depending on fit and finish (amenities). If you want a bit more forensic opinion of the replacement cost, call an appraiser, and he will give you his rules of thumb.
Does that help?
When you are ready to drill into the data a bit deeper, call me at 702-491-4663, or email me at Steve@REOVegas.com
Best of luck, and thanks for reading.