Thanks for taking the time for Friday Figures! All information from the GLVAR MLS system. If you are touring, making offers, or listing property this weekend in the Las Vegas Valley, read this first.

Summary: Amazingly enough, available units dropped further to 11192. While prices of single family homes are stable (and homes in all price ranges are moving), prices of available condos are plummeting, partly due to financing difficulties and partly due to endemic HOA problems caused by the huge number of foreclosures. distressed properties continue to move quickly, pursued by bargain hunters and investors. Pending and contingent listings are on the rise again, which is no surprise, and are poised to surge over 15,000 in trends continue.

Other Information: Nationwide, both apartment and strip mall vacancies are at highs not seen in years. In good news, there are a half-million mortgage modifications underway. However, there are those who find fault with the mortgage modification program. Speaking of mortgages, I was talking to an expert this morning who tells me that minimum FICO scores are set to rise from the current low of 620. Some lenders are already demanding scores of over 686, and he fully expects to see minimum requirements of 640-660 from almost every lender. If you are considering buying real estate and you suspect your credit score is in that range, don’t delay.

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