This weeks best real estate deals are bank owned properties and were found in zip codes 89138, 89144 and 89134 which are on the west side of Las Vegas in the Master Planned Community of Summerlin. Included in this blog is a brief description of each property. If you would like more detailed information about any of these or other great real estate deals in Summerlin or Las Vegas, just call (702-499-1747) or email me (Joe@JoeLaliberte.com) and I will provide it to you. You can also search for great deals like these on your own by going to a great property search system called Home Buyers Scouting Report.
For the past several weeks the banks have been taking a more aggressive approach to listing and selling Las Vegas Real Estate and Summerlin Real Estate and the properties they have in their inventory. The most common approach for them at this time is to list the property at an extremely good value ( For Summerlin Real Estate that would be less than $125 per square foot), generate a lot of traffic through the property and solicit as many offers as possible within the first week or two that it is on the market.
In these cases the buyer of the property will be competing with several other offers and can expect to pay over the asking price to purchase the property. Most buyers are having difficulty understanding that they are going to have to pay over the asking price in this current market. Or that when they close on the property they are still getting a great deal. In some cases my clients have had the appraisal come in at significantly higher ($25,000 or more) than the negotiated sale price. For an appraiser to commit to an appraisal over the negotiated price in this Las Vegas and Summerlin Real Estate market is very unusual.
My suggestion, before you make an offer, is to know the area you are you are looking in. Know the inventory and the market activity. Know what the properties that have most recently closed sold for. Know what the asking price of the properties that are in escrow. Know the asking price of the available homes of the same type and neighborhood. Know how much the bank paid for the property and when. Know the price history of the property. Have a pre-approval letter ready to submit with your offer and expect to get pre-appoved with a representative from the bank that owns the property. Make a clean offer that is a fast close and not asking for anything unusual. In most cases the banks will not pay for certain items. Know what those items are and don’t even ask the bank to pay for those items. Work with a good agent who knows the process and can provide you with all of this information and more. Do not hesitate to offer significantly over the asking price if you have done your homework. You will still be getting a great deal.
Best Las Vegas & Summerlin Real Estate Deals #1
10708 Sprucedale Ave. Las Vegas, Nevada 89144 MLS #819931
5 Bedrooms, 2- Full & 2-3/4 Bathrooms, 3 Car Garage, 3754 Square Feet
Built in 1999.
Asking price is $441,355 or $118 per Square Foot.
This is a bank owned property. The bank bought the property on April 1, 2008 for $405,000. The bank put the home on the market at this price on April 23, 2008. The previous owner paid $630,000 for it in July of 2006.
Best Las Vegas & Summerlin Real Estate Deals #2
1029 Bonitos Suenos St. Las Vegas, Nevada 89138 MLS #829388
3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 2440 Square Feet. Built in 2006. Asking Price is $289,900 or $119 per Square Foot.
This is a bank owned property. The previous owners purchased the home in August of 2006 for $523,990.
Best Las Vegas & Summerlin Real Estate Deals #3
10342 Catclaw Ct. Las Vegas Nevada 89135 MLS #825187
4 Bedrooms, 3 Bathrooms, Loft, 2 Car Garage, 2113 Square Feet,
Built in 1999.
Asking price is $244,900 or $116 per Square Foot.
This is a bank owned property. The owners paid $232,500 for the property in May of 2008.
If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me.
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Joe Laliberte
Broker/Salesperson
Prudential Americana Group, Realtors
702-499-1747
Joe@JoeLaliberte.com
Las Vegas Real Estate Information
www.JoeLaliberte.com
Summerlin Real Estate Information
www.OurLasVegasRealEstateAgent.com
The Vistas of Summerlin Real Estate Information
www.TheVistasHomes.com
Home Buyers Scouting Report– Do your own searching for the best real estate deals in Summerlin or all of Las Vegas.
Market Snapshot Report – Keep track of your homes value and the market activity in your area with this monthly report specific to your home.
Posted by Joe Laliberte 
Las Vegas & Summerlin Real Estate 
