Short Sales

, bank foreclosures and builder closeouts in recent years have greatly impacted the local luxury real estate market. A circumstance once dominated by residences valued below $1 million, statistics prove that high-end homesvalley-wide are increasingly suffering the same fate as many luxury Las Vegas real estate owners struggle to cover ballooning mortgage payments. With a glut of luxury homes short sales and foreclosures now available in Las Vegas at a significantly reduced cost, sophisticated real estate buyers are taking advantage of these below market value “deals” at an equally increasing clip. Amid this distress-driven “buyer’s market,” luxury Las Vegas real estate bargains are certainly abundant…but not particularly easy land for your self. Especially with short sales and foreclosure homes, be prepared for bidding wars, bank delays and other challenges. And, while negotiating bank owned foreclosure homes can sometimes be quick, short sales can take from 1 to 4 months for bank approval. It’s imperative to understand the average timeline involved with each type of transaction based on prior 30 to 60-day statistics, so that you may strategically plan your efforts in kind. Of course, The Jenson Group can help ensure you pursue and procure a luxury Las Vegas real estate type that best meets your needs.