"Grabbing the equity and running to the bank..."
Las Vegas, Nevada (PRWEB) May 13, 2013
Noted Las Vegas realtor Jared Jones (http://www.JaredJonesRE.com) says things are finally looking up for Nevada home sellers, but would not predict for how long. In reference to a recent Las Vegas Review Journal report describing record mortgage delinquency, large inventories of “zombie” vacant foreclosure homes, and foreclosure starts that dwarf the numbers from 2012, Jones sees homeowners in Vegas experiencing a temporary rise in home equity. Home buyers and investors are racing to buy homes at a manic pace in the face of currently extremely low inventory levels.
Jared Jones, longtime Las Vegas and Henderson, Nev. real estate expert and Horizon Realty owner, outlines what he is seeing more and more -- out of area homeowners using this moment for their great escape after a few years of thinking escape was impossible.
“I have sold a number of homes this year for people who moved out of town for work or family matters but kept their home back in Las Vegas or Henderson, not because they wanted to be a landlord but simply because they couldn’t sell their homes," says Jones. With inventory, some say temporarily, low, the average price of resale housing has surged 25 percent since early 2012.
“Owners that didn’t really want to leave hundreds of thousands of dollars in mortgage debt behind once they left Las Vegas. Now they are putting their homes up for sale, grabbing the equity and running for the bank before what many fear will be another bursting bubble,” said Joes. Many see the headlines about the foreclosure starts that are piling up, and are earnestly concerned; for them, the timing to sell couldn’t be better. This was the case for an out of state owner named Carmela. Once she learned that she could now relinquish her landlordship of an out of state home, she was able to cash in on a very quick closing deal, earning herself more than she imagined.
Jones mentioned more than one story where the type of homeowners that used to break even on their mortgage amount owing even two to four years ago, are now clearing checks of as much as $80,000. “With the constant ups and downs in this market, sellers can only hope this market stays in their corner in 2013, but with foreclosure data surging earlier this year, it’s anyone’s guess,” Jones said.
About Jared Jones
Jared Jones is the #1 selling agent in Nevada by volume over the past three years cumulatively. He is the CEO of Horizon Realty in Las Vegas and Henderson, Nev. For a free over the phone or in home consultation to know what your home would sell for, please call Jared direct at 702-496-5000. Not ready to call? Get a free report on “7 Critical Mistakes that Cost Home sellers Thousands”; each mistake is completely preventable. Visit http://www.7CriticalSellerMistakesReport.com