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2014-04-12 20:15:55
It May Be Easier For Buyers To Purchase in 2014...

The year 2013 was a very tough time for many buyers that needed to acquire a loan to purchase a home in Las Vegas.  Until now most buyers in the $100K to $250K range have had to deal with multiple offers and being out bid by cash buyers.  I believe this may be changing soon.

In the last quarter of 2013, fourty-four percent of homes sold in Las Vegas were purchased by cash buyers.  The majority of them were investors working with hedge fund companies.  These hedge fund buyers had unlimited resources and were willing to pay cash above appraisal to purchase a home.  This is why many buyers had a tough time getting an offer accepted on a home.  The other problem was low inventory.

Now that the hedge fund companies have moved on to other markets and inventory has slightly increased there will be less competition for homes in Las Vegas.  This is why I believe it will now be easier for buyers to purchase a home.  It will take a little while for the buyers that have been trying to purchase and couldn't compete but after they find homes life will be much easier for buyers in the future. 

 
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It May Be Easier For Buyers To Purchase in 2014...

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