What About This Market?

Las Vegas Home Sales.

WHAT ABOUT THIS MARKET?

I truly enjoy my work. I enjoy getting my sellers the highest possible check at close of escrow and I enjoy finding my buyers a great home and getting them a great deal.

I also enjoy talking about my work. Whenever anyone finds out that I’m a Realtor, they invariably have questions for me.  They usually are curious about the real estate market in general and will ask “How’s the market?”  They might expect to hear how difficult it is or how bad it is, but what they hear back from me these days is how good it is.  When our home prices were rising 5% per month, we heard how bad the market was for buyers, not how good it was for sellers.  Now that are home prices are so low, we hear how bad it is for sellers but not how good it is for buyers.  The newspapers and other media vendors sell more with bad news than good news.

I’m excited about the opportunities in our current market.  We are seeing out of state and out of country investors buying up homes here at an un-precedented rate.  The smart money is coming to town.

You might comment that sounds great for buyers, but what about sellers.  I would suggest that any seller in this market should be buying as well.  If you need to sell your home and your thought is to wait, then consider the market.  If you wait till your home gets to a certain value, what do you think the home you are going to buy is going to do in that time?  It’s likely going to go up too.

I had a client that is a grandmother and she wanted to move closer to her grandchildren so she could spend more time with them.  She then let me know that she needed to wait to get a certain number before she moved.   She waited for 6 months and then asked me about values.  I had to tell her that they actually were continuing to drop.  She knew that if she waited for the value of her home to get where she wanted, she might not ever get to live near her grandchildren.  She listed the home and we were able to sell it quickly, then she took her proceeds and bought a home near her grandchildren.  She let me know that the net effect to her bank account was $0.  She was able to get such a great deal on her purchase that she was actually saving money every month.  Money she could use to spoil her grandchildren.