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Are We At The Bottom of the Real Estate Market?

Treasury Secretary Henry Paulson reports he believes that the housing market could be close to a bottom. Las Vegas realtors Steve Hawks and Kendall Trotter comment on the local Las Vegas real estate market if it could be close to a bottom.

The two Vegas experts discuss signs that do reflect a possible leveling off of prices and maybe a potential small increase in some zip codes although nobody can predict a bottom their are signs of a change in the market in some areas. Hawks states that some zip codes  do seem to show signs of life.

For example some zip codes in the Las Vegas and Henderson area are showing a high demand for homes in certain price ranges.

Hawks cites examples of 15 offers or more on several homes multiple offers are becoming the norm in certain price ranges in particular zip codes on and new home builders starting to sell homes again at drastically reduced prices.

Steve Hawks also states homes that were $300,000-$400,000 are now going for $200,000-$250,000, some homes that were $200 per square foot are now going for less than $100 per square foot.

Hawks continues to stress the fact that not all zip codes in Las Vegas and Henderson are  having multiple offers on available homes.

He also sates that one should definitely use a professional who has experience knows the area and knows what Las Vegas and Henderson zip codes are having a quick absorption of properties.

 

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