The Real Deal on The State of The Las Vegas Real Estate Market
Meet Brandon Roberts, the President of Las Vegas Realtors. Despite all the Media hype, the market seems to have stabilized with 4 months + of inventory on the market.
What Does This Mean for Buyers?
Basically, you have a number of properties from which to choose, both in Las Vegas and in Henderson. New Home Builders are offering reduced prices and oodles of incentives such as closing costs, interest rate buy downs, HOA dues paid off for a year and more. This is a really opportune time to buy a new Las Vegas Home as the NYSE ( New York Stock Exchange) publicly traded builders are competing for Buyers.
Interest rates are supposed to tick up again in December. If our current administration cannot combat inflation and get it under control, this rising interest rate environment can continue into 2023.
What Does this Mean for Sellers?
Sellers can expect less traffic. The days of multiple offers over list price, inspections and appraisals being waived are over.
Sellers are competing with the new home builders, who are non emotional, and all business. Sellers need to be prepared to offer closing incentives, and to receive a softer price than their neighbors who sold in the first half of the year.
Our Outlook on The Market
October 2022 is June Stark’s 50th year in Las Vegas. Lauren & Travis & Hunter are native Las Vegan’s, and have seen cycles like this before. The anomaly, was the 2-3% interest rate environment. Rates as they are now, are more of what has been the norm over the past decades. People are still moving to Las Vegas & Henderson – We are basically out of buildable land, and Las Vegas has a great NO INCOME TAX environment, with housing prices being affordable compared to many other cities of its size.
WHY WORK WITH THE STARK TEAM?
Our Team is honored to be in the TOP 1% of Las Vegas Realtors for the 1st three quarters of 2022. THERE ARE OVER 12,000 AGENTS IN OUR MLS. WE WILL TREAT YOUR BUSINESS AS IF IT IS OUR OWN, with the highest level of care. Your transaction from start to finish will be handled personally by us, not an unlicensed assistant, nor a 3rd party transaction coordinator company. We know Las Vegas and Henderson real estate like the backs of our hands!
TOUR OUR NEWEST LISTING IN AGE 55+ TRILOGY IN SUMMERLIN
Get in Touch with June for a Consultation to Discuss your Real Estate Needs.