Hope you are having a great week and a great start to the new year!
What’s happening here locally in the Las Vegas Market… as you know, the rates have been steadily increasing to combat inflation. The real estate market is completely slowed down on home buying and selling. It’s a great time for buyers though! It’s a Buyer’s Market, congratulations to all my buyers!!
The time to buy is NOW! I’ll tell you a couple reasons why:
- There’s less buyers. So it’s less competition. Before you had a scramble to see five homes today, five tomorrow… and what we had to do to take care of that to combat the current market at the market. Now… you can take your time and find the right property and what suits you. We can go back into negotiations and that goes to my second point…
- Negotiations. You can negotiate with people right now! People are negotiating some great incentives for buyers. For instance, to get into a home… you have to pay closing costs, you have to pay inspections… but now, all that stuff now sellers are paying for… closing costs. And that’s substantial! At the same time, you can actually negotiate on the price of the home as well. Also… you’re able to do what’s called a rate buy down.
Don’t forget, sellers actually have equity and are walking away with some cash as well. So sellers are not giving away these homes by any means. But sellers need to be educated on what today’s current market is and what’s happening. For buyers, we don’t have to go through paying over appraisal, paying over value, no more putting in offers without seeing the home.
Builders are giving amazing incentives to get you in their homes too! They have a thing called standing inventory, homes that are built with all the options ready to go ready for move-in AND they will pay your closing costs, they’ll pay appliance packages… they want to do everything they can to get you in at home and including buy down to your rate!
But once again, thanks for a great 2022 year!! Now we’re in 2023, full swing with our team! And our team is ready here to support whatever you’re looking to do! Whether it be buy, invest, purchase, sell… whatever it is. We’re here for you!!