Summer is Coming and the Las Vegas Market is Getting HOT

The market in Las Vegas is heating up.  Inventory continues to drop (5,462 single family residences) and sales continue to increase (3,278 closings on single family residences in the last 30 days — 109 properties sold every day!!).  Accordingly, there is only about 50 days inventory left!  Recently, I have faced situations where there were multiple offers on a property in the first few days it is on the market.  Bargains on Las Vegas houses are getting harder and harder to find and those that are there get snapped up.  The message is that if you want to buy, get your financing in order before you begin to look and make an offer quickly as soon as you find the home you want.  Related to this you should know that you have to go looking either with proof of your funds if you are paying with cash or a loan pre-approval in hand since most sellers require one or the other to be submitted with your offer.