Is it a good time to buy

Is it a good time to buy a home in Las Vegas

1It’s December already and the year is almost over. Most folks here in Las Vegas are just getting over the Thanks Giving holidays and now starting to prepare themselves for the Christmas rush & festivities.  So the last thing on the minds of most home buyers and home sellers is having to pack and move. Just the thought of packing boxes and moving heavy furniture and trekking to a new home is mind boggling and stressful to many people.  Most folks who move at this time of the year are those that have to, for example a new job, financial difficulty, family crisis or a multitude of other reasons.

So perhaps now is a good time to start looking for a new home to buy.

From my experience everyone loves to get a bargain and have built in equity when they buy a home. The equity in a home is a huge reason why people buy in the first place. So with fewer homes selling at this time of year and less competition from other buyers and interest rates low, I think it is a perfect time to put on your boots, get in the car and start looking at homes for sale.

Last year in 2013 we saw home prices rise a huge 23% with low home inventory and multiple offers on most homes sold. This year 2014 we have had little if any equity growth with a much higher home inventory (9800 homes listed on the multiple listing service MLS) and instead of multiple offer we are seeing sellers accepting lower than list price offers.

Another consideration for buying a home is that interest rates are hovering at 4% or lower and that too is saving you literally thousands over the life span of a loan. Depending on whether you are purchasing to live in the home or buying as an investment home you can buy for as little as ZERO down. VA loans for example require no money down. An FHA loan requires you to put down 3.5% and some lenders will only require 10% if you are an investor.

Another amazing reason to buy a home is our Buyer Guarantee program.

2Here is how it works. Buy ANY Las Vegas or Henderson home and I guarantee I will save you at least $10,000 off the list price of the home. If I don’t save you at least $5,000 then I pay you $2500*.  It’s that simple. I have never heard of any other Las Vegas Realtor giving you that kind of promise and putting their commission on the line.  I now have a much greater stake in getting you the best price possible and will work much harder to save you thousands. CLICK HERE for more details.

The Las Vegas home market has had a rough 9 years

3and a lot of sellers and buyer are worn out and concerned about investing again. We saw the highs, then the crash, then another crazy year in 2013 with prices going up 23%. Personally I believe that 2013 was a natural correction to a market that was trying to get back to a fair market value for property. I do believe that 2014 is the start of what is a normal real estate market where home prices might vary 2-3% in price per year.  Bad for the cash investor but great for the average Joe on the street who just wants to buy a home to live in and raise kids, or dogs, gold fish lol.

The truth is that the best time to buy a home is when you, the buyer, is ready to buy or have to buy based on your own circumstances. But it’s nice to have a few benefits to give you that gentle push in to buying something that feels right.

Please call me or email me if you have any questions or when you are ready to go looking for that perfect home. 702-419-2728 billhall2004@cox.net

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