Each month, the median listing and sold property prices are calculated based on the market activity where the property is located.
The location refers not only to Southwest, Northwest, Southeast, North or Northeast regions of Las Vegas or Henderson, Nevada but also the neighborhood, the street, as well as the lot within the neighborhood where your home or property is located.
It goes without saying that a well maintained home is worth more than a fixer upper.
A home that has been updated with energy efficient windows and appliances will be worth more than the house next door that hasn't been updated.
Certain remodeling features add value as well, such as updated bathrooms, updated kitchens and updated plumbing.
Mortgage rates took a dive this week after a report showed the U.S. economy shrank significantly in the first part of the year.
The benchmark 30-year fixed-rate mortgage fell to 4.28 percent from 4.33 percent the previous week, according to the Bankrate.com national survey of large lenders. One year ago, that rate stood at 4.61 percent. Four weeks ago, it was 4.25 percent. The mortgages in this week's survey had an average total of 0.31 discount and origination points.
The number of active listings in North Las Vegas in zip code 89032 declined 9.6% from the previous month.
The median number of days active properties there have been listed is 53.
The number of sales in May in that area declined by 90.9% from the previous month.
There are currently 1739 REO's and preforeclosure properties in the North Las Vegas area.
Whereas, the number of active listings in Henderson Nevada increased by 1.6% from the previous month.
The median number of days active properties here have been listed is 42.
The number of sales in May declined by 88.8% from the previous month.
There are currently 1362 REO's and pre foreclosure properties in the Henderson area.
A property located within 250 feet of a foreclosure will experience at least a 1% reduction in value.
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