Keller Williams Realty Las Vegas' The Ballen Group's Short Sale Condo In Spring Valley Is Now Pending
Online, May 7, 2014 (Newswire.com) - The Ballen Group is a team of Las Vegas real estate agents. This team of Las Vegas real estate agents originally specialized in Las Vegas short sales. Now that the economy in Las Vegas is looking up, The Ballen Group's Las Vegas home sales are 66% traditional home sales.
A Las Vegas short sale is a sale of Las Vegas real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property. In addition, the property owner cannot afford or chooses not to repay the liens full amounts.
Then the Las Vegas short sale's lien holders, this Las Vegas resident's bank, agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency.
With foreclosures on the rise in the US, banks are looking for any way they can to minimize their foreclosure losses. Basically, it is much more cost effective for a bank to agree to a short sale rather foreclose on a home.
Banks aren't in the business of owning real estate and collecting monthly mortgage payments, so a bank will take a minor loss in a Las Vegas short sale to start that payment cycle again. Additionally, if the home is in foreclosure, a bank must pay for upkeep, insurance, and other costs. Plus, through the foreclosure process, the bank would incur legal and court fees.
This Spring Valley Short Sale Condo is listed for $69,000. It has 2 bedrooms and 1 bathroom. This condo measures 816 square feet. This Spring Valley Condo is a single story and is a part of the Westwood Point Spring Valley subdivision.
This Spring Valley Condo is less than a mile away from 4 different starbucks locations. It is located on Indian River drive in the Spring Valley zip code region of 89103.
The number of active listings in Spring Valley 89103 dropped by 8.6% from the previous month of April 2014. The median number of days active Spring Valley properties have been listed is 66. This is significantly shorter than the United States' national average. The number of Spring Valley home sales in January dropped by 76.1% from the previous month of December 2013.
The percent of owner occupied properties in Las Vegas 89103 is 33.24% below the national average. The percent of rental properties in Las Vegas 89103 is 31.19% above the national average. These percentages are typical for urban areas.
There are currently 264 homes for sale in 89103. The median listing price for these homes are $136,800. 18.9% of these Spring Valley homes are distressed listings, meaning that they are either Las Vegas short sales or foreclosures.
Keller Williams Realty Las Vegas - The Ballen Group
Lori Ballen
3046 S Durango Drive #100
Las Vegas, Nevada 89117
www.TheBallenGroup.com