The Ballen Group Of Keller Williams Realty Las Vegas Is Listing A Condo In Spring Valley Las Vegas

Las Vegas real estate agent from The Ballen Group received a signed listing contract last week. The Ballen Group is looking forward to getting another Las Vegas condo sold.

This Spring Valley, Las Vegas Condo was listed for sale on April 22^nd. This Las Vegas Condo located on Peace Way is listed for $83,000. This Condo is a part of the Las Vegas subdivision Chateau Nouveau.

This Las Vegas condo located in Spring Valley has one bedroom and one bathroom. This Las Vegas condo is measured at 814 square feet. This Las Vegas condo was built in 2003 and is a 2 story. This Spring Valley, Las Vegas home has access to a pool.

This condo is a Las Vegas short sale. A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property. In addition,the property owner cannot affordor choosesnot torepay the liens full amounts.

The lien holders, this Las Vegas residents bank, agrees to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency.

With foreclosures on the rise in the US, banks are looking for any way they can to minimize their foreclosure losses.Basically, it is much more cost effective for a bank toagree toa Las Vegas short sale rather foreclose on a home.

Banks arent in the business of owning real estate and collecting monthly mortgage payments, so a bank will take a minor loss in a short sale to start that payment cycle again. In addition, if the home is in foreclosure, a bank must pay for upkeep, insurance, and other costs. Plus, through the foreclosure process, the bank would incur legal and court fees.

This condo is located in the Spring Valley, Las Vegas zip code region of 89147. The number of homes for sale in this area is 168. This number has increased by 1.3% since the early part of April 2014. The number of days Las Vegas homes are for sale in this area of Spring Valley is 48. The median price for homes in this area is $207,820.

The chart below indicates the number of homes for sale in Las Vegas 89147 and their status:

17.3% of homes in Las Vegas 89147 are “Distressed Listings” meaning they are either foreclosures or short sales. According to Lori Ballen, who owns The Ballen Group with her husband Richard, “33% of our listings taken this year [2014] are STILL short sales with an average list price of $201,165.”

The chart below displays the income levels of Las Vegas residents in 89147:

The chart below indicates the amount of Las Vegas 89147 homes that are owner or renter occupied:

The Ballen Groups real estate agents that work with listings are all short sale certified. Originally The Ballen Group specialized in short sales, but have branched out to include traditional sales in Summerlin and the surrounding areas of Las Vegas. Even after branching out to specialize in different areas, a third of The Ballen Groups listings are Las Vegasshort sales.

Husband and wife, Richard and Lori Ballen, became real estate agents in 2007. They were the top producing Las Vegas real estate agents in their team after the first year. Eventually Lori and Richard moved to Keller Williams Realty Las Vegas and started a team of Las Vegas real estate agents, which they call The Ballen Group.

The Ballen Group – Keller Williams Realty Las Vegas
Lori Ballen
3046 S. Durango #100
Las Vegas, NV 89117
702-604-7739
www.TheBallenGroup.com

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