Who’s buying Las Vegas homes?

Who’s buying Las Vegas homes?

During the month of August 2010 there were 2,746 closings of single family residence in the Las Vegas real estate market according to the Market Condition Report posted by Nevada Title company. The report states that the closing price of a Las Vegas sale was $140,000. There were 1,134 Las Vegas bank owned homes that sold along with 847 Las Vegas short sale homes. Also, there were 765 Las Vegas houses that were sold and are considered Standard sales. (meaning properties that are sold by the homeowner.) However, the report shows that the Standard sale properties have a median closing price of $170,000 which is $30,000 more than the previously mentioned $140,000 Las Vegas home sale. One might ask how can the typical homeowner sell homes in Las Vegas for $30,000 more than the other homes in Las Vegas that sold during the same period? The reason is that the owners of these Las Vegas homes are actually...
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