Welcome back to Friday Figures! All information from the GLVAR MLS system. It’s critical information you and our Realtor need to know if you are touring, making offers, or listing property this weekend in the Las Vegas Valley!

Summary: It’s really close, but we’ve now had 4 straight weeks of under 11,000 available listings! Prices of available units are sliding a little bit, but time on market is down as well; owners are pricing to sell and sell fast, attracting multiple offers in the process. Pending and contingent listings remain high, and will stay high until the almost 8800 short sales are either approved or foreclosed upon. While we had a light week for closings because of the banking holiday, it’s still a relatively strong number of closes.

Other Information: It remains to be seen whether any of the mortgage modification programs will actually have a long term impact on preventing foreclosures. One thing is for certain: there are plenty of scammers who want to take advantage of people seeking a mortgage modification! If they want a lot of money up front, chances are they aren’t legit. One more thing for those of you with a transaction in escrow: next week will be very busy for title and mortgage people because the following work week is short, and the Monday after that is the end of the month. Take time today to make sure everything is on track and make sure all your documents are in order!

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