Crazy Las Vegas Real Estate!
Posted by vegasrealestateagent on February 23, 2010
I feel crazy bad complaining but dang! I’m BUSY! I’d love to sit down with all those people who say the Real Estate market in Las Vegas is slow and show them my schedule and only 3/4′s of the way completed to do list…maybe they have some extra time on their hands they can lend to me! I love it though! This has got to be one of the best times to be selling houses here in Las Vegas…okay, maybe not as great as when the median price of a home was about $340k, but the median price is really all that’s changed.
Before all you’d hear is the “old-timers” reminisce about how all you had to do is put up a yard sign and you’d be into a bidding war…well guess what??? It’s baaaacccckkkk (please tell me you got the Poltergeist reference!). It’s true though…prices have dropped, hugely. But, you can still put a decent house on the market and if it’s priced right have multiple offers within days! If it’s an REO or an “equity” sale, all the better (and all the more offer’s you’ll get). It’s amazing. Back in 2006 when I first got my license, you’d go to show a house and maybe call ahead to the listing agent just for kicks. Now, you HAVE to call ahead because between the time you pulled the property up for your client and the time you get in the car, bet that they’ve gotten two to three offers in…and if you’re client isn’t ready to go in at at least list price, you might as well save your gas for the next one. I’m telling you, it’s crazy!
If you’ve been in Real Estate longer that a year or so, you can start to feel the energy building back up again. People are scurrying around the office trying to make it to appointments. Heck, I’ve even seen them hand-off buyer referrals because they’re just too busy to take care of them.
And what about the buyers? They’re coming out in droves…really! People are starting to realize that they’re running out of time to get a contract written so they can get the Home Buyer Tax Credit (if you’re thinking about buying a house and aren’t sure of the guidelines, there’s a post below that has a lot of the answers.) They only have until April 15th to get it into escrow and they’re hot to jump in and get their share. Sellers are seeing their houses close at or above list prices, appraisals are still a bit of a challenge, but I just had one come in right on target last week, so maybe the appraisers are catching up.
All in all, it’s a crazy time to be a Realtor and a great time to GO GET THAT HOUSE BEFORE SOMEONE ELSE DOES!!
