Las Vegas Short Sale Home Just Sold by Nevada Desert Realty

Las Vegas, NV, January 25, 2017 --(PR.com)-- The just sold Las Vegas short sale home was listed for $149,900 and sold for $155,000. This home was located on a corner lot in a neighborhood situated right outside of Summerlin. This single story home had no HOA. Measured at 1,214 square feet, this home sold for $128 per square foot. The just sold single story home in Las Vegas 89145 included 3 bedrooms, 2 bathrooms, and a 2 car garage. Several rooms of this home featured vaulted ceilings, ceiling fans and wood laminate flooring.

Nevada Desert Realty’s Las Vegas short sale specialist were thrilled for another successful short sale closing.The just sold Las Vegas short sale home was listed for just over a month before the owner accepted an offer. It took about 5 months to close escrow as the short sale real estate agents had to negotiate with the bank to be able to sell the home for market value. The home was purchased with financing from a conventional loan with a 20% down payment.

A Las Vegas short sale occurs when a homeowner can no longer afford monthly payments and cannot sell the home and payoff the existing mortgage. In this situation the homeowners must request a short sale with their mortgage lender and the lender must accept that they will take a lower amount than what is owed to them. Banks do this to avoid a foreclosure which requires more time and money on their part. Allowing an owner who has suffered a financial hardship to do the work to get the home sold is ultimately beneficial to the bank or lender. In this situation the lender was asking for a sale price above what the home could be sold for. Nevada Desert Realty’s short sale specialist had to negotiate with the lender, Seterus, on the sale price of this home by showing similar homes which had sold much lower than the price the bank was requesting for the home. Eventually the lender agreed with the highest price the buyers could agree to and escrow was closed.

Though 5 months is a much longer escrow than a typical traditional sale’s escrow would be, it is relatively short for a short sale. Short sales that include first, second, and sometimes a third mortgage can take months or even years to close as negotiations must occur between Nevada Desert Realty’s short sale specialist, a buyer, and however many lenders that are involved. Lenders will often not work together in anyway and all communication must be passed on by a Las Vegas short sale real estate agent. Lenders can often take weeks to return correspondence, and sales with multiple lenders or multiple problems with the home can take months to years to come to an agreement and be able to close escrow. It is very important for a homeowner behind on their payments to enlist the help of an experienced short sale real estate agent as they will know how to work with the banks to get the home sold.

This just sold Las Vegas short sale home is located right outside of Summerlin. Summerlin is a master planned community in the Northwest side of the Las Vegas Valley. This master plan was created by the Howard Hughes Corporation and building started in the 1990s and still continues today. The benefit to living in a master planned community is quick access to everything that residents need. Schools are centrally located, and every neighborhood is not 5 minutes away from a local grocery store. Parks are also strategically located so that all residents have equal access to open spaces. There are currently 450 active Summerlin real estate listings. This includes townhouses, condos, and single family residents. The average home price has historically been slightly higher in Summerlin than the City of Las Vegas’s average home price. This is primarily because Summerlin is newer comparatively and has quick access to many luxuries. The just sold single story short sale’s new owners will also enjoy the parks, shopping centers, and more than Summerlin has to offer.

The Las Vegas zip code region that this just sold Las Vegas short sale home is located in is 89145. The median sold price for just sold homes in Las Vegas 89145 is $187,000. The median active price for homes in 89145 is $399,000. The sale to list price for homes in this area is 97%, meaning that home sellers get 3% under asking price for their homes. Homes in this zip code are active Las Vegas real estate listings for about 75 days. There are currently 25 homes sold in Las Vegas 89145 within the last several months. There are currently 67 single family homes for sale in Las Vegas 89145. There are over 25,000 residents in 89145 and over 10,000 homes, townhomes and condos. Las Vegas 89145 covers between 4.5 and 5 square miles of land.

The Las Vegas short sale REALTORS® who helped in the purchase of this home are Michael and Anna Klinger. These agents own their own real estate group, Klinger Real Estate Group, and their own brokerage, Nevada Desert Realty. The Klingers have been in real estate for 15 years and love negotiating on behalf of their clients and making sure their client get the best during each real estate transaction. The Klingers live in the Las Vegas Valley with their two children. Their office is located at 40 E Horizon Ridge Parkway #101 in Henderson NV 89002 and their office phone number is 702-509-1446.