Las Vegas Short Sale Home is Being Listed by The Ballen Group

Las Vegas, NV, May 25, 2014 --(PR.com)-- The Ballen Group of Keller Williams Realty Las Vegas is excited to be helping another Las Vegas resident with the sale of their Las Vegas short sale home located on Shadow Lane. This home was listed on January 17th, 2014. Within the first month it had an interested buyer but due to trouble in the escrow process this home is back on the market.

This Las Vega short sale home was originally listed for $150,000. When this home went back on the market it was listed for $165,000, a $15,000 increase due to the improvement in the Las Vegas housing market. This Las Vegas short sale home was sold to the current owner for $83,600 in 2007. Today the Las Vegas short sale home value has risen by over $80,000.

This Las Vegas short sale home on Shadow Lane is measured at 2,464 square feet and has a lot size of 6,970 square feet. This Las Vegas short sale home has 3 bedrooms and 3 bathrooms. This is a single story, single family home.

This Las Vegas short sale home is located in the zip code region of 89106. In this region the assigned schools are Howard Wasden Elementary School, Hyde Park Middle School, and Ed W Clark High School. There are 8,799 homes in Las Vegas 89106, out of those homes there are 3,517 homes with children.

For Las Vegas 89106, 5.23% of the Las Vegas residents have completed their bachelor’s degree as their highest level of education. The median age is 32 and 16% of the Las Vegas residents are married. The median household income in Las Vegas 89106 is $30,781 with 258 Las Vegas households earning between $35,000-$40,000.

This Las Vegas short sale home is 1 of 86 homes that are for sale in Las Vegas 89106. Out of these 86 Las Vegas homes, 25.6% are distressed listings, meaning they are either a Las Vegas short sale home or a foreclosure. The median amount of time these homes stay on the market is 86 days. The median listing price for Las Vegas homes in 89106 is $93,840.

The number of active listings in Las Vegas 89106 have dropped by 4.5% since April 2014. In January the number of Las Vegas home sales dropped by 61% from the previous month of December 2013.

In order to qualify for a Las Vegas short sale, sellers in southern Nevada must be able to prove the following: the amount owed on the home is greater than the value of the house, the home must be a single family dwelling, in which case the lender will not be able to seek repayment of the deficiency, the mortgage holder must have been living in the home continuously throughout the length of the mortgage.

If the above conditions are met, the Las Vegas home owner must provide W2 forms for the past two years, a “Letter of Hardship” explaining the seller and the home’s financial state, recent pay records, bank statements from each financial institution that the mortgagee has an account with, as well as a financial statement.

The Ballen Group is a team of Las Vegas real estate agents started and owned by Richard and Lori Ballen. Richard and Lori Ballen became Las Vegas real estate agents in 2007 and within the first year were the top producing agents on their team. Now at Keller Williams Realty, The Ballen Group services the real estate needs of the Las Vegas area.

The Ballen Group – Keller Williams Realty Las Vegas

Lori Ballen
3046 S. Durango #100
Las Vegas, NV 89117
702-604-7739
www.TheBallenGroup.com