Home Selling in 89120>Question Details

Lee Jean, Home Owner in Henderson, NV

Have prices risen recently in that zip?

Asked by Lee Jean, Henderson, NV Mon Sep 24, 2012

Help the community by answering this question:


David Cooper’s answer
Las Vegas, 89120 Summary
The median sales price for homes in ZIP code 89120 in Las Vegas from Jun 12 to Aug 12 was $105,500 based on 152 sales.

Compared to the same period one year ago, the median sales price decreased 2.3%, or $2,500, and the number of sales decreased 42.4%. Average price per square foot for homes in 89120 was $64, a decrease of 35.4% compared to the same period last year.

There are currently 91 resale and new homes in ZIP code 89120 on Trulia, including 214 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

David Cooper Investor 702-499-7037
1 vote Thank Flag Link Mon Sep 24, 2012
Since March our prices have been steadily rising do to the law of supply & demand. We currently have about 1.3 months (6-8 weeks) inventory for buyers. An average is about a 6 month supply so it is critical when making offers that you understand there is going to be multiple offers on every listing. In fact, 53% of all purchases in the Las Vegas Valley are CASH. Know that asking the seller/lien holder to pay for the buyers closing costs is a thing of the past, with a few exceptions. In short sales, lien holders typically do not pay for a home warranty, lender fees, HOA transfer fee, so don't ask for them or you will more likely than not execute your own offer at submission.

Anyway, regardless of the zip code in the valley, sale prices are going up. Last October, NV legislators passed AB284, a consumer protection law, that forces lien holders to swear on the lives that they have all the necessary documents to conduct a lawful foreclosure with risk of criminal prosecution!!!! This had the effect of a moratorium of sorts on the foreclosure market. On the positive side it has encouraged the banks to increase their record regarding the timeline/short sale process and approval rates. Since they have little to no hope of getting a home owner to start paying their mortgage again but still continues to occupy the home and little hope of actually being able to foreclose on it the banks need to be a little more cooperative and responsive.

Know that banks are not holding back homes that have been foreclosed on (shadow inventory). Don't get me wrong, there are thousands of home owners that are delinquent and have NO intentions of catching up but the banks simply don't have the documents on hand to facilitate a lawful foreclosure. These homes will certainly need to either go through foreclosure or a short sale. If the homes do eventually go to foreclosure, i'm "assuming" that the banks will have learned something from the past and prevent a flood of foreclosures into the market to avoid another downturn in the market.

Anyway, regardless of zip code, prices have risen! Make offers according to the "NEW" market conditions.

Valerie Edwards
Premier Real Estate
(702) 371-5533
0 votes Thank Flag Link Thu Nov 15, 2012
Hello Lee Jean,
the prices in ZIP 89120 rises about 8 %. call me or send me e-mail and I can provide to you complete CMA -what is on the market, recently sold homes and etc. so you can make your educated desicion. I will need home adress and your e-mail to provide this information. I will be happy to assist you and it is free of charge information
Have a great day
P.S. Also you can log in in my website http://lasvegasforsalehomes.com and do some search
Aneta Ivanova
0 votes Thank Flag Link Mon Sep 24, 2012
YES number two. Tell your friends!
0 votes Thank Flag Link Mon Sep 24, 2012
Yes prices have risen from 2 to 4% per month since Janunary. If you want to know why and what we feel is going to happen please call because it's quite involved and dependent on upcoming elections, world, national economy/jobs. If you want to discuss your situation we're available. Thanks, Matt and Kim.

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Mon Sep 24, 2012
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