REAL SUMMERLIN

ZIP CODES 89134, 89135, 89138, 89144 and 89128

Single Family Residence

On The Market 840

Bank Owned 93

Short Sale 236

Foreclosure Commenced 29

Pending 132

Contingent 401

Homes Sold 28

Condo/Townhouses

On The Market 235

Banked Owned 42

Short Sales 82

Foreclosure Commenced 7

Pending 43

Contingent 175

Homes Sold 16

What does it mean if a Foreclosure has commenced? The homeowners have gotten a least one notice of default. This is usually the case when a home is a Short Sale and the lender has nothing to look at without an offer on the property.  If you decide to put an offer in on a short sale, have your agent find out if notice of default has been issued.  Many times two different departments are handling the property in question.  If the department handling the foreclosure is not notified of an offer then the foreclosure could still proceed even though you are negotiating to purchase the property.  It is most important that both departments are on the same page.

What is the difference between Contingent and Pending?

When a property is put in Contingent status it means there is an offer on the property that has been accepted by both parties, but there are things that need to be cleared up before it can go into Pending status.  The things usually involve inspections or loan concerns and sometimes these do not go through.  There is a time limit for the contingencies to be removed.  The listing agent may take back up offers for the seller in case it does fall apart.
When a property is put into Pending status the Contingency has been removed and most of the time everything runs smoothly and the property closes on time.  Sometimes things have been known to go wrong but once at this status it only happens occasionally.

This update is for Summerlin Only!

Las Vegas Valley Statistics are here.

If you have a home to sell in Summerlin, please contact me so we may discuss what I can do for you.

If you want to buy a home in Summerlin I would be proud to help you. Contact 702-277-3195