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las Vegas home prices have come down from the over bidding peaks!
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Where are Prices going next?
In a Rapidly Changing Market, YOU NEED an Expert who Fully Understands how Past Real Estate Cycles can help you Sell Your House for the Most Net Profit
Do you want a Fast Cash Offer?! Let's help you properly price and review all offers. We represent your bottomline!
The investors making the offer can write clauses to reduce their original offer amount by $10,000's after your accepted the offer.
Sell Your Home on Your Timeline.
Investors offering 'no commissions' are making many times the amount from your bottomline.
Home Sellers Beware of accepting offers for your house without professional representation from a licensed experienced Real Estate agent protecting your equity.
FTC Takes Action to Stop Online Home Buying Firm Opendoor Labs, Inc. from Cheating Potential Sellers with Misleading Claims about its Home-Buying Service
The Federal Trade Commission today took action against online home buying firm Opendoor Labs Inc., for cheating potential home sellers by tricking them into thinking that they could make more money selling their home to Opendoor than on the open market using the traditional sales process. The FTC alleged that Opendoor pitched potential sellers using misleading and deceptive information, and in reality, most people who sold to Opendoor made thousands of dollars less than they would have made selling their homes using the traditional process. Under a proposed administrative order, Opendoor will have to pay $62 million and stop its deceptive tactics.
“Opendoor promised to revolutionize the real estate market but built its business using old-fashioned deception about how much consumers could earn from selling their homes on the platform,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “There is nothing innovative about cheating consumers.”
Opendoor, headquartered in Tempe, Arizona, operates an online real estate business that, among other things, buys homes directly from consumers as an alternative to consumers selling their homes on the open market. Advertised as an “iBuyer,” Opendoor claimed to use cutting-edge technology to save consumers money by providing “market-value” offers and reducing transaction costs compared with the traditional home sales process.
Opendoor’s marketing materials included charts comparing their consumers’ net proceeds from selling to Opendoor versus on the market. Those charts almost always showed that consumers would make thousands of dollars more by selling to Opendoor. In fact, the complaint states, the vast majority of consumers who sold to Opendoor actually lost thousands of dollars compared with selling on the traditional market, because the company’s offers have been below market value on average and its costs have been higher than what consumers typically pay when using a traditional realtor.
The agency’s investigation found that Opendoor also violated the law by misrepresenting that:
- Opendoor used projected market value prices when making offers to buy homes, when in fact those prices included downward adjustments to the market values;
- Opendoor made money from disclosed fees, when in reality it made money by buying low and selling high;
- consumers likely would have paid the same amount in repair costs whether they sold their home through Opendoor or in traditional sales; and
- consumers likely would have paid less in costs by selling to Opendoor than they would pay in traditional sales.
Opendoor has agreed to a proposed order that requires the company to:
- Pay $62 million: The order requires Opendoor to pay the Commission $62 million, which is expected to be used for consumer redress.
- Stop deceiving potential home sellers: The order prohibits Opendoor from making the deceptive, false, and unsubstantiated claims it made to consumers about how much money they will receive or the costs they will have to pay to use its service.
- Stop making baseless claims: The order requires Opendoor to have competent and reliable evidence to support any representations made about the costs, savings, or financial benefits associated with using its service, and any claims about the costs associated with traditional home sales.
The Commission vote to accept the consent agreement was 5-0. The FTC will publish a description of the consent agreement package in the Federal Register soon. The agreement will be subject to public comment for 30 days, after which the Commission will decide whether to make the proposed consent order final. Instructions for filing comments appear in the published notice. Once processed, comments will be posted on Regulations.gov.
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Are you thinking of selling your home in Las Vegas? Look no further than our team of experienced real estate agents. We know the Las Vegas market inside and out, and we're here to help you get the best possible price for your property.
Why Choose Us?
At our real estate agency, we pride ourselves on providing our clients with the highest level of service and professionalism. Here are just a few of the reasons why you should choose us to sell your Las Vegas home:
Experience: Our team has years of experience working in the Las Vegas real estate market, and we know what it takes to sell homes quickly and for top dollar.
Marketing: We use the latest marketing techniques to ensure your home is seen by as many potential buyers as possible. From social media to targeted online advertising, we'll make sure your property gets the exposure it deserves.
Negotiation: Our agents are skilled negotiators who know how to get the best possible price for your home. We'll work tirelessly to ensure you get the deal you deserve.
Personalized Service: We understand that every home seller has unique needs and priorities. That's why we offer personalized service tailored to your specific situation.
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"Will I be able to move into my new home before I sell my current home if the builder takes longer than expected?"
"How do I coordinate selling my house while moving out of state?"
These are some of the many concerns and challenges you have during complex transactions of real estate. Over 30 years and many market cycles have shown there are multiple solutions to each of these challenges. Let's chat and find the best solution for your situation.
Sell Your House Fast In Las Vegas With These 3 Tips
You don't have to be an expert to sell your house fast. All you need is a little know-how and some great advice from real estate experts. Read on to learn more about selling your house fast in Las Vegas... But if you want to sell your house FAST and maximize your profits then you DO need an experienced Real Estate Agent helping you Price, Market, Negotiate and SELL your house FAST.
Sell Your House Fast In Las Vegas!
Find An Agent Who Can Help You Sell Your Home.
Selling your home is one of the biggest decisions you will ever make. It's also one of the most stressful. If you're not sure how to go about selling your home, here are three tips to help you find an agent who can help you sell your home quickly and easily.
Hire The Right Real Estate Agent For You.
There are several things to consider when choosing a real estate agent. First, you should choose an agent with whom you feel comfortable. Second, you should choose an experienced agent who has sold homes similar to yours. Third, you should choose an honest agent who will work hard to sell your home.
Do A Little Homework First.
Before you start looking at houses, do a little homework first. Find out what kind of market there is for your area. If you live in a hot housing market, you might not find any properties available for sale. On the other hand, if you live in a depressed housing market, you might find plenty of properties available for sale.
Know The Market Value Of Your Home.
Once you've found a property that meets your needs, it's time to figure out how much it's worth. There are several ways to determine the value of your home. One method is to use a realtor who specializes in helping people sell their homes quickly. Another option is to hire a professional appraiser. A third option is to use a free online valuation service such as Zillow.com but this last option has a wide range of values and could cost you $10,000's without a further detailed analysis.
To maximize your net proceeds higher than the so called No Hassle quick cash offers use our Expertise and Experience to handle all of the tasks that get the maximum profit from your house sale: Full Service Real Estate for a FLAT FEE that is Fair.
No Up-Front Fees
WE HANDLE ALL THE PAPERWORK, OFFER, ESCROW, TRANSACTION & CLOSING
All Buyer offers screened by Licensed Mortgage Profession to minimize wasting month off market with offers that fall apart. Get On the Market with the Greater Las Vegas MLS
Mega Listing Syndication to Zillow, Realtor.com + over 900 Websites
40 Professional Magazine Quality Photos ($250 value)
3D Tours Interactive 3D Virtual Tour
Dedication Webpage with Mortgage Calculator Always Open to Buyers 24 hours a day
Pre-Listing Home Inspection ($500 value). Use my Experience Flipping Houses to Identify how to maximize your Return. Money in your pocket, not the investors.
MLS Reverse Prospecting Email Blast to Agents/Brokers
Electronic Lock Box Tracks Showing Alerts & Listing Activity
Professional Yard Sign with your home's dedicated website
24/7 Digital Brochure
Weekly Marketing Updates/Assessment
Discounted Title & Escrow Fees Researched and applied when applicable
Drone Photography and Video ($300 value)
HD Professional Photography ($150 value)
Virtual Staging ($500 value)
Professional Property Highlight Video Reel ($500 value)
Mega Open House Event & Promotion($1,000 value)
Just Listed Neighborhood Direct Mail Postcards ($1,500 value)
Paid Facebook/Instagram Social Media Marketing Blitz ($500 value)
Advanced Craigslist Promotion ($200 value)
Qualify for Dual Agency Commission Reduction
Cashing in profits from your Las Vegas home's equity and looking to relocate to a market to grow your equity again:
If you are thinking about selling your Las Vegas house? See why now is a good time and how to price it in the market to max the equity gains of the last several years..
Especially if you are moving out of state to relocate to one of the future growth markets that have a High Affordability Index and your dollar will go much further.
Or looking to save monthly expenses by down-sizing. Cutting monthly expenses with less utility bills, less home maintenance expenses, etc.
Understand what it really means when the news says house prices up 27%, down 12%. Compared to WHEN? Learn how to lock in those gains by pricing the sale of your house in the current market to get the buyers to write an offer.
Too many houses are sitting on the market for Months because they are pricing from last year’s market conditions.
One of the Pricing variables should factor in monthly payments for the percentage of buyers that are using mortgages. This is weighted to the number of cash buyers.
If the forecasts from this UNLV economic forecast is accurate for housing price decreases of 10.7 and 12% for 2023 & 2024.
This is after the price increases of 27% and then another 17% during 2020-2022.
-Remembering long term gains; home prices are nearly four times higher than they were in
January 2012 median price of $118,000
in November 2020 was $345,000
in November 2021 was $420,000
in January 2022 was $435,000 Peaked because of over bidding w/ escalation clauses and shortage of supply- did not represent a true market value. Prices are correcting into the long term averages - not a housing collapse.
Las Vegas prices will still be up but waiting to sell will cost you a lot of those gains. Las Vegas real estate market is still an excellent place to buy and own a home over medium and long term. Market condition are still working through supply shortages locally and nationally but if you are already looking to sell your house; see how you can maximize your current equity gains.
I received my first real estate license in 1992. I have seen these market cycles before!
I have a Finance degree and don’t recommend people treat their house like a stock to buy and sell every year. Your house is a long term investment but market timing can save you Tens of thousands of dollars if you understand what to look for when selling your house. Way more than a few % of commission investment of an experienced real estate agent.
Top 10 Real Estate Markets to watch in 2023 and into the future
NAR identified 10 real estate markets that it expects to outperform other metro areas in 2023. In order, the markets are as follows:
- Atlanta-Sandy Springs-Marietta, Georgia
- Raleigh, North Carolina
- Dallas-Fort Worth-Arlington, Texas
- Fayetteville-Springdale-Rogers, Arkansas-Missouri
- Greenville-Anderson-Mauldin, South Carolina
- Charleston-North Charleston, South Carolina
- Huntsville, Alabama
- Jacksonville, Florida
- San Antonio-New Braunfels, Texas
- Knoxville, Tennessee
"The demand for housing continues to outpace supply," Yun said. "The economic conditions in place in the top 10 U.S. markets, all of which are located in the South, provide the support for home prices to climb by at least 5% in 2023."
NAR selected the top 10 real estate markets to watch in 2023 based on how they compared to the national average on the following economic indicators: 1) better housing affordability; 2) greater numbers of renters who can afford to buy a median-priced home; 3) stronger job growth; 4) faster growth of information industry jobs; 5) higher shares of the information industry in the respective local GDPs; 6) migration gains; 7) shares of workers teleworking; 8) faster population growth; 9) faster growth of active housing inventory; and 10) smaller housing shortages.
Top Boomtowns in America in 2022 according to SmartAsset:
- Nampa, Idaho
- Meridian, Idaho
- Murfreesboro, Tennessee
- New Braunfels, Texas
- Fort Myers, Florida
- Conroe, Texas
- Menifee, California
- Pasco, Washington
- Lewisville, Texas
- Chino, California
- Port St. Lucie, Florida
- Rancho Cordova, California
- Victorville, California (Tie)
- Riverview, Florida (Tie)
- Homestead, Florida
Strategies to sell a home as Buyers can afford less with higher rates
If you’re considering selling your home now, you might be thinking, Why didn’t I do this a year ago? The 13-year residential real estate bull market came to an abrupt end in 2022 as quickly escalating mortgage rates undermined would-be buyers’ purchasing power. A buyer who can afford a $2,500 monthly mortgage payment could have borrowed around $600,000 when mortgage rates were at 3%…but can borrow only about $370,000 with today’s rates at 7.25%.
Many buyers have retreated to the sidelines, leaving sellers with fewer offers than they would have fielded not long ago. And some homeowners have put their home-selling plans on hold, but not everyone has that luxury.
In the current market it’s better to ‘Set the market - not chase it” Over decades of experience has shown market patterns and an experienced agent can help you get ahead of market changes and position your home sale to maximize your net profits.
The key to landing the highest sales price for a home isn’t setting a high asking price. It’s getting the largest possible number of buyers to bid on the property. The best way to accomplish that at times like these is to set the asking price slightly on the low side to attract attention. Most experienced agents know this, but many still try for above-market asking prices because it increases their odds of landing the listing.
Caution: Sellers often assume that they can set their asking price high at first, then lower it if necessary. But that’s not how the real estate market works. The most appealing buyers pay attention only to homes that are brand new to the market—once a home has been for sale for more than two weeks or so, most buyers assume there’s something wrong with it. Then the only interest will come from bargain hunters who offer well below even the lowered asking price.
Quality over Quantity: Personal Attention to details is Demanded in this Market.
Find the Right Agent that puts Personal Attention into your Home sale process, not one that passes on the details to ‘team’ to process your home sale like a factory widget.
Any agent can sell a home when the market is hot, but significant skill and experience are needed when it’s not. An agent that has been through several real estate markets cycles, not just the easy ones. How to find the best agent for your home sale…
High Level of Personal Service and Attention Concierge Level is required for your biggest investments like your Real Estate. Not a time for discount ‘turn em and burn em’ approach. Trying to save a few thousand can cost tens of thousand in net proceeds. Penny wise, pound foolish.
Look for an agent that understands Marketing and focuses on selling your house, not selling their agency for more clients. Don’t fall for the Hyped up sale volume number. (A trick to show hundreds of sales transactions is by putting less experienced agents' sales on a ‘team’ into one agent's name. That’s kind of misleading. There’s not enough hours in a month to put the time and attention that a complex home sales transaction needs and be able to close multiples of transactions in a week.) Also- Did you know, ‘for sale signs’ main purpose is to sell the agency to your neighbors for more business but ‘marketed’ solely to sell your house. Let’s have a direct conversation about what works and how it works directly for marketing a house for sale.
Your Home sale needs an agent that puts personal time into each listing like a partner to your transaction. Not the factory approach where a team of less experienced agents process the selling transaction like putting out widgets in a factory.
This is not negative to the real estate agency business model; it’s systemic in industry on how to increase volume. You have to decide if you want to be another cog be processed or partner with a highly experienced, educated professional to give you a higher level of personal service.
This is a home sale and requires a knowledge of the complex process of market analysis, financing, negotiations and marketing. Experience and personal attention is required as in any serious procedure.
Does the agent know how to do detailed market analysis?
Do they follow economic reporting and understand complex data that can help you stay ahead of changes in market trends and real estate prices?
Financial Professionals Read, Analyze and Understand Economic Reports- So you don’t have to. That’s why you hire them. Yes, making social media posts are a part of advertising a home but you would want your CPA spending most of their time staying up to date on market economics and law changes not Tic Tok videos.
Economics are boring to most people but understanding market data reports are vital to your financial prosperity. Make sure you work with a financial professional not only educated in financial markets but monitors and understands how those indicators affect your real estate and portfolio!
Understand Marketing!!!! It is more than sales and advertising. It’s a science of analytical process understanding: customer, market segments, niches, products placement, pricing.
Don’t just look for claims of ‘ professional photos, videos and broadcasting listings on 100’s websites’ when these are also selling the agency more than the house.
Marketing is more than hiring professional photography and making videos.
It’s knowing the product: house, condo, townhome, single story, large lots, etc.
Who is the target market for that property, demographics and what they want?
Find the niche in the target market that needs your house and will pay above market price for that home.
Messaging that connects to that niche market through specific targeting. Empty Nesters mostly likely will not be looking for a 4000 square foot house with a lot of landscaping upkeep.
In addition to Analyzing and Marketing, you need an agent with a lot of experience NEGOTIATING. This could be the most important quality when looking for an agent and always gets overlooked. This is Most important in tough markets in getting buyer’s offers accepted! Negotiating not just the best price but best terms for sellers. Another reason why you need an agent to give your sale personal attention is because they can’t pass this off to a team member.
I have negotiated commercial real estate deals that are much more complex but residential transactions still take dedicating a good amount of time and focus to each transaction. It’s just not to your benefit if an agent is juggling dozens of transactions that week or month.
The highest price is not the best price if the deal falls through and the seller has to start all over after their house has been off the market for over a month. Complications happen and deals fall through, it’s part of the business but you need to know that probability is minimized.
The agent should know how to tell the differences of mortgage qualification, conditions to docs and how to verify those when you can.
Most agents have all of these skills, so find one you trust and have good communications.
What will you do to sell my home that other agents won’t? An agent might respond by pointing to top rank status of hundreds of sales in a year. Again, there are not enough hours in a day, week, year to close a transaction every other day and still provide a high level of personal professional attention your home sale needs without passing on most of the details to less experienced agents or non-licensed assistants.
Be concerned if an agent instead promises lots of open houses or print advertisements—research by the National Association of Realtors has found that these tactics are not effective in this era of online listings. *sells the agency not the house*
Also be wary if an agent says he already has a potential buyer lined up. As tempting as it can be to choose an agent who promises a quick sale, this answer likely means he intends to sell your home to a buyer he also represents so he doesn’t have to split the commission—an unethical conflict of interests. Such an agent might not aggressively market your home to other potential buyers. At least agents have rules against this. I-buyers and investors don’t have any obligation towards your financial interest, so always go with a licensed agent over an investor offer.
What are my home’s top selling points and challenges? Follow this question up with, “How will you prevent those challenges from standing in the way of sales?” You need to hear from the agent honest observations. What buyers will see and how it compares to other houses on the market and should be able to provide a well-thought-out plan of action. This is where an agent's personal experience investing and flipping real estate is invaluable.
Selling Strategies after a rapid rise in interest rates increased buyer’s payment shock mortgage qualification.
Three ways sellers and agents can improve the odds of sales today…
Offer to pay down the buyer’s interest rate. Higher mortgage rates are a big reason buyers aren’t buying these days. But there’s something sellers can do about this—offer cash to secure your buyer a significantly lower rate for either part or all of the loan’s term. Example: The buyer is approved for a 30-year loan at 7% for a $600,000 purchase with 20% down. The seller could pay $11,000 from the home-sale price to the buyer’s lender to reduce the buyer’s rate to 5% for the first two years. Doing this can reduce the buyer’s monthly payments from $3,200 to $2,600...increasing the market share of buyers qualifying to purchase your house.
Buyers want Turn-Key. Get your home into ready-to-move-in condition. There was a shortage of supply during the pandemic real estate rally and the people that had to move were willing to over bid to move. The supply/demand balance now is leveled out and the buyers who remain are shunning homes that require repairs. Also there are a lot of flipped houses that are completely remodeled, setting buyer’s expectations. Buyers are comparing your house to houses that are completely painted, new flooring, cabinets and fixtures. You don’t have to completely remodel your house but your agent needs to show you where your home accurately fits in pricing level with the other homes competing for buyers, not just past sale comps.
Another reason to find an agent with experience personally flipping houses to understand where to put money into remodeling that will return an increase in sales prices over the investment.
Confirm that your home’s completely prepared before the listing hits the market. If you have any doubts, raise them with your real estate agent. Your first showing is online—you have only one chance to make a first impression with buyers.
The meaning of Fiduciary Responsibility = To get you the maximum return by treating your money as if it was my own.
I first got into real estate as an investor and I learned how to find "value" when buying a property - how to maximize it's value and Market it for the highest price when selling.
I will work with you as a partner to get you the best outcome as if I was buying or selling my own home. Not treating your home as a tool to get my agency more business.
Las Vegas Great Home, Your Professional Real Estate Source, the best realtors® are protecting your financial interests through the complicated real estate transaction processes. With more than 30 years of experience, this comprehensive website will help you find the best Las Vegas homes for sale in the Las Vegas Metropolitan Valley. A Licensed Professional Real Estate Agent is required to provide a Fiduciary Responsibility to their clients. Realtor® Fiduciary Responsibility means looking out for your best financial interest as if it's our own money and we make sure to get you the most net profit and best deals as if we're negotiating for our own house. Having a professional Realtor® representation benefits include: Less stress on the transactions and processes, we can give advices and tips on remodeling your house, you can keep more of your equity when you sell and get the house you want when you buy, and lastly, compliance of having Fiduciary Responsibility. Whether you are looking to Buy Las Vegas real estate or houses for sale. Questions of What is value my house? How to sell my home fast for highest price? For sale by owner looking for answers to how real estate transaction processes goes smoothly when selling your Las Vegas home.
Find Your Dream Home in Las Vegas
Are you looking to buy a home in Las Vegas? Look no further than our team of experienced real estate agents. We know the Las Vegas market inside and out, and we're here to help you find the perfect home to meet your needs.
Why Choose Us?
At our real estate agency, we pride ourselves on providing our clients with the highest level of service and professionalism. Here are just a few of the reasons why you should choose us to help you buy your Las Vegas home:
Knowledge: Our agents have years of experience working in the Las Vegas real estate market, and we know the ins and outs of the area. We'll help you find the perfect home in the perfect location.
Selection: We have a wide selection of homes to choose from, ranging from cozy starter houses to luxurious estates. Whatever your budget and preferences, we'll help you find the perfect property.
Support: Buying a home can be a complex and stressful process, but we're here to help you every step of the way. We'll provide you with all the information you need to make informed decisions, and we'll be there to answer your questions and address your concerns.
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Home Sellers Must See This
See what over 4 of out 5 First time home sellers wish they did something different to get a higher price when they sold their house in the last couple of years.
And How you can learn here how you increase your net profits when selling your house
A recent study states many recent first-time sellers have regrets about the pricing, timing, or marketing of their home.
These mistakes can be costly, especially when selling one of life's biggest financial assets — a home. Homeowners, especially for sale by owner home sellers looking to list their home for sale can save much more by increasing the overall net proceeds by investing and preparing for these four common regrets of first-time sellers.
The most common thing recent first-time home sellers wish they had done differently is correctly set the list price (39%). During the pandemic the housing supply was low and lowest rates in 50 years housing created a greater demand. Buyers thought the offers Investors and Instant Buyers made were good because they were higher than what the market values were in the last 15 years. But sellers didn’t know how to calculate the true market value at current conditions taking all factors. Sellers thought they saved a few thousand in commissions for a quick sale, and gave away tens of thousand$ of their equity to investors.
Strategies for Selling Home
In today's market pricing is different than it was last year and pricing a house too high will leave it on the market too long. Losing the interest of more buyers as they start their search and pass on houses sitting on the market for 3 months. Experienced agents who been through these market cycles before would explain how to set the price to the new market direction. What seemed like a $10k-$30k price cut last year would have gained a quick sale. While other sellers priced their house too high in 2022 ended up dropping their price each month well below that price and lost even more money and time.