Purchase Your Home Despite The Sellers Market

Dated: July 24 2017

Views: 242

Image result for buyer buy sellers market

It's a seller's market, is it smart to buy a home now?

Normally I would say no BUT in Las Vegas right now the answer is YES!!!

Before you label me as a crazy nut follow me here for just a few minutes... Let me begin with Las Vegas being a "sellers market." When I hear people say that I wish I had enough time to explain why that is not entirely true... You can't put a huge "sellers market" blanket over the entire Las Vegas/Henderson valley because there are certain sub-markets and certain price ranges where its not really a sellers market. For example, homes that are not located inside exclusive master planned communities and priced between $400-900k are not flying off the market! They are taking 6-12 months in some cases and sometimes longer.

Over all I would consider the "sellers market" to be homes priced between $100-350k that are in either fair to good condition. As always the old adage location, location, location still plays a major part in all of this and always will. If I was to list a $300k single story turn-key home in Summerlin, I would have 10 offers within 24 hours and most would be over list with buyers waiving their appraisal contingencies. Where does the part about it being a good time to buy come in? 

I am speaking to a lot of buyers who are on the fence because its a "sellers market" and they feel like if they wait for it to become a buyers market it will be in their best interest. I also have been hearing about there being some "bubble" that is about to bust. Well there is no bubble that is going to burst and while all these buyers wait around for the market to turn, they are going to be upset when the home values continue to rise and rise and rise year after year. Right along with the values rising, interest rates will also be rising. Yes I understand Vegas has low inventory - the entire nation is having the same problem by the way - and we are in a bit of a sellers market, but waiting to buy will only hurt you in my opinion unless you want to wait around for the next dip in the market 4-5 years from now... 

Now is the time to jump in and get back to being a home owner or if its your first time call me and let me show you all the wonderful programs there is to help you get into a new home.... Call Daryl B Hanna at 702-218-4585darylhanna@gmail.com

Blog author image

Daryl Hanna

Daryl Hanna and The Hanna Group are committed to bringing the respect back to the real estate profession through making sure each and every transaction is handled with the utmost care & respect!! The ....

Latest Blog Posts

A New Way To Shop For Homes In A Virtual World

In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices

Read More

The Surging Real Estate Market Continues To Climb

Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index

Read More

How Low Inventory May Impact The Housing Market This Fall

Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the

Read More

Why Homeowners Have Great Selling Power Today

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer;

Read More