Roberta's Las Vegas Real Estate Blog: Las Vegas Home Sales Rebound!

Las Vegas Home Sales Rebound!

Finally some good news in the media about Las Vegas. USA Today has a story out, 'Home Sales Begin To Rebound In Las Vegas'. The story gives a fairly accurate picture of the market's history. Home sales in Las Vegas have been on the rise. Buyers have been picking up exceptional values on homes, often at prices less than they could be built, even in today's market and present land values.

Of course this is also in the 'better late than never' category, since any number of Las Vegas Real Estate Agents have been blogging about this for some time. Increases in Las Vegas home sales have been happening each month since the beginning of 2008. Besides that, there is an important thing to remember with these reports. They are historical, and in more ways than one. What the media doesn't do is explain what they really represent. A report is based on sales and is from the previous month, AND those sales actually took place even much before that. 30 - 60 - 90 days until they are funded and actually close. This applies even more to foreclosures and short sales that have been making up a large portion of the total sales, as the banks have been a little slow trying to keep up to the pace not only of supply, but demand.

Reports are Historical and may not represent today.

Using a generalized perspective behind the times doesn't give you a true image of what is happening today. Real Estate is local, and that is true even within a local market. There are many factors that come into play and you may not really have an understanding of the Las Vegas home market. There are a wide variety of neighborhoods that offer different amenities, each with a different value, and possibly expenses. Not all homes and neighborhoods are created equal. With foreclosures that can be magnified further. You will find some are pristine, others in need of repair, and some that are heavily damaged. All this can make it difficult to make a comparison based solely on a listing search for a given price, size or style of home. It's also why the use of generalized 'price drops' often quoted in media reports can be misleading. In some price ranges there may be room for negotiation, in others the homes are priced right and are getting multiple offers and selling above listing price.

This is where having a good REALTOR® comes into play, to help you determine what is a good value. We see what is taking shape now, today, and how it can effect your purchase. Waiting for the media and reports can put you behind the curve. Sure, there will still be homes available at today's Las Vegas 'median price' some months from now. The question will be how much home will you get for any given price, the longer time goes on.

 

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me at roberta@search4lasvegashomes.com or call me at 702-354-8988. I look forward to hearing from you!

 

 

Roberta's Las Vegas Real Estate Blog

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Comment balloon 6 commentsRoberta LaRocca • August 05 2008 06:18PM

Comments

Hi Roberta... it's about time things are picking up out there... and I'm glad to see that at least one media outlet is helping to spread the news!  Tell Sparky I say hi!

Posted by Steve Shatsky about 11 years ago

Steve:  Yes, it is time that the media spreads some positive news!  Sparky says "Woof"!

Posted by Roberta LaRocca, REALTOR®, Broker, Salesperson, NV. Lic BS.507 (Simply Vegas Real Estate) about 11 years ago

Roberta,

Thanks for sharing all of this news. It's about time we heard some positive news from the media.  We will definitely keep you in mind if we have clients coming your way, and do think of us if you know anyone relocating to metro Atlanta or Tampa Bay. See our "Blog" below on our referral business and share it with other agents in your office who might be interested.  Thanks and good luck to you.

-------------

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NOTHING CAN BE BETTER THAN A STRONG REFERRAL NETWORK !

WE KNOW ATLANTA AND THE GREATER TAMPA BAY AREA

Our Home Team is most certainly an energetic group of agents who fully embrace the "Team Concept."   Our MULTI-STATE TEAM is led by Bob Lhuillier, a dynamic Associate Broker, who consistently leads his team to be TOP PRODUCERS.  Our business is based in both Georgia and Florida with a focus on METRO ATLANTA and the GREATER TAMPA BAY AREA.   We are familiar with the area, schools, cultural and sporting venues, local market values and other information that will be important to your clients.   Our business is built on personal referrals from our clients, family members, neighbors and our ever-widening circle of friends.  Our REFERRAL BUSINESS is quite large because those who know us best know that we are committed to providing the highest level of service possible to our clients.  People are MOTIVATED to recommend us to their friends, family and co-workers because they TRUST us to deliver what we promise.

We all know it is important to know your market area, and it is our EXPERTISE within our two particular market areas of the country that shows our true value as Realtors.  We believe that referring business to capable individuals within a particular market is in the client's best interest.  Let us take care of your clients with the same EXPERTISE and professionalism you have shown them in your own market in the past.  We will be more than happy to send you our resume, or feel free to check out our profiles on the national Keller Williams website. Please call us or send us an email if we can be of assistance.  We look forward to doing business with you and your valued clients in the future.

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That's the motto by which we live and conduct our real estate business.

Best of luck to you,

Carole Lhuillier
Our Home Team
Call   877-394-4622  OR  404-604-3912 

 

Posted by Carole Lhuillier, Our Home Team SunCoast (Keller Williams Realty SunCoast) about 11 years ago

Carol:  I will keep you in mind if I have anybody heading in your direction.

Posted by Roberta LaRocca, REALTOR®, Broker, Salesperson, NV. Lic BS.507 (Simply Vegas Real Estate) about 11 years ago

Let's just hope this is the first of many to come that discuss postive aspects of the Las Vegas Real Estate Market.

Posted by Tony Sena, Broker/Property Manager (Shelter Realty, Inc) about 11 years ago

Tony:  I hope so!  We could use some positive media!

Posted by Roberta LaRocca, REALTOR®, Broker, Salesperson, NV. Lic BS.507 (Simply Vegas Real Estate) about 11 years ago

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