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A home buying frenzy in Las Vegas

Posted on 07 May 2013

My elderly mother is freaking out. Two weeks ago she put her small house on the market in the Las Vegas suburb of Henderson. The day she listed the house she received four calls, including an agent who assured he was on his way over with a buyer. Within days she had seven offers and eventually closed a deal for significantly more than her asking price.
“I’ve sold a lot of houses, but I’ve never seen anything like this,” she said. This is the state of the market in Las Vegas, once the poster child for the housing collapse. After a decade of frenzied construction, prices plummeted by more than 50 percent in most neighborhoods. Four years ago, at the market’s lowest point, more than 80 percent of the homes sold were foreclosure or bank-owned sales………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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