June is in the books, and as stated in my previous weekly email, I am a “proof is in the pudding” kind of a guy. My team and I closed 13 transactions this month. The average time from application to docs out was 24.1 days. 8 had docs out in less than 22 days, 4 had docs out less than 15 days! Of note, 2 VA loans had docs out in 14 and 21 days respectively. I am happy to tell you, it’s not just speed we provide. I was able to provide more aggressive financing packages than USAA (on 2 VA loans), Bank of America and I Mortgage for my clients.
Also, I am now a member of Rate Plug, a free service offered in the MLS. If you are not linked up with a lender, please call or email me and would be happy to partner up with you so you can offer your MLS listings to your clients with important financing data.
Financial Markets
The Dow Jones rallied nearly 280 points on Friday amid news…come on guys….you gotta know this by now……that’s right, Europe’s tentative solution to its debt crisis…I am sure this will be the last we have heard of market volatility and its relation to Europe’s credit concerns…(insert sarcastic smirk here). Also making headlines are national increases in home prices and an uptick in new home sales and permits being pulled.
Southern Nevada Real Estate Related Data
A 5th straight month of rising median home prices caps off an encouraging May in home sales for Southern Nevada. The median priced home reached $118,000, up 2.5% from last month and up 6% from May 2011. The report states only 2,533 listings not in “contingent” status. With nearly 5,000 transactions taking place in May, this leaves virtually a 2 week supply of homes on the market. Builders sold 401 homes in May, and 1,617 year-to-date, up 23 percent from this time last year. Builders continued its aggressiveness by pulling over 650 permits for the month as well.
Have a great week!
