Waiting To Sell? Here’s Your Sign.
The Las Vegas real estate market; while still in favor of sellers at the moment, is shifting quickly with rising interest rates.
The Las Vegas real estate market; while still in favor of sellers at the moment, is shifting quickly with rising interest rates.
The State Of The Market If you’ve been shopping for a home this year, you probably know it can be vicious out there. Almost 1/3 of the homes recently sold to out of state buyers. Many of those buyers are coming from the West costal area. They have plenty of sale proceeds to pay over…
It may seem crazy to celebrate buying a home for it’s appraised value. However, if you’ve been trying to buy a home in Las Vegas recently, you understand even buying one you like over appraised value is a huge accomplishment today. Homes are appreciating 1-2% per month in my markets recently. That means a $350,000…
This really depends on your lifestyle & what you love to do. Do you go to the casinos on the Strip or enjoy all the great outdoors we have surrounding the city more frequently? If you want both there are also some great locals casinos in many areas too. Far up North & West may be good if you love snowboarding, or hiking Mt. Charleston. A few communities my clients really like up there are:
…This year has seen so many changes it’s hard to know where to start. Yes, many people have been out of work, but hopefully with the recent news of successful vaccines from Moderna & Pfizer it won’t be long before they can be back to it. Fortunately for many others all over the country, it’s meant lasting & leverageable changes to how work is getting done.
Many past clients & friends have told me their company is shifting to a permanent work from home status for many employees. Industries such as finance, tech, & logistics have been able to shift quite efficiently. Becoming a work-from-home employee provides flexibility & all sorts of other benefits, but it has its challenges. One of the biggest hurdles I’m hearing repeatedly is the need for more space.
…This has certainly been a unique and challenging year so far for many of us, particularly in Las Vegas. How 2020 has impacted our housing market depends a lot on where you are in the market. While there are as many particular situations as there are clients; for our purposes here, we’ll break them down into the following categories: Sellers, Buyers, & Homeowners .
Those looking to sell their home this year have seen very little competition. The demand may not be quite what it was last year, but it is still well-outpacing available inventory supply. Many areas in Las Vegas are seeing 2-3 weeks as a median time on market. Historically, this is incredibly low. This demand is raising home values & in some cases for well-marketed homes, in show-ready condition, even creating bidding wars.
…My listing in Arden Park had a lot going for it. The sellers had already purchased their new home, always kept it clean & well maintained, and they were realistic about their asking price. They didn’t imagine the Raiders football team hoisting their home’s value through the clouds. They were open to hearing what homes in the neighborhood had actually sold for, how long those listings took to sell, and implementing a plan to quickly sell for maximum profit.
Being right on the border between two neighborhoods, with very different valuations, they understood a professional who can extrapolate the data into a real asking price that will motivate offers can make all the difference. The average days Listing to Close for the area is 89 days. We sold at 45 days LTC with an in-contract extension to make some repairs to satisfy the 1st-time (but well qualified) home buyers; almost 1/2 the average time from putting it up for sale to collecting a good check!
How were we able to beat the market timing by almost 50%? First & foremost, …
We just helped Debbie & Peter purchase a home in Spanish Trail; a gorgeous, well-established golf course community here in Las Vegas, NV. I’d spoken with Debbie, who was a referral from a friend of mine. She’s his mother & was looking to move to Las Vegas to be closer to her new grandson. Her husband also just got a relocation here with his company. There are a lot of great reasons to move to Las Vegas. Lower taxes & more affordable housing is a big one we’re seeing from many Californians making the move. For Debbie & Peter, being close to family, having the job-relocation opportunity, & being able to say goodbye to those frozen New York winters were main motivators.
We’d done all the leg work to figure out what she & Peter were looking for in a new home, had her pre-qualified with Charles Christmas at Gold Star Financial, and were prepared to make a confidant offer when the right home appeared. Something low maintenance, secure, and comfortably appointed with great amenities were all on the top of the list. Fortunately, Spanish Trail community was not only checking all these boxes, it was a short drive from family already in town.
Debbie’s son & I had walked a few properties together, using Facetime to give a live feed to Debbie and Peter, while her son gave commentary on how he thought the space & design elements would
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Nestled in the quiet neighborhood of Arden Park, just over a mile from Desert Breeze Park, with it’s soccer, baseball, skateboard & aquatic community offerings, this corner lot is the largest one in the tract. It also provides even more privacy with no neighbors directly behind you & beautiful mountain views from the master suite.