Las Vegas Homes For Sale
Las Vegas, NV homes for sale represent a unique real estate market. Most people are familiar with the spectacular rise and fall of home prices in Las Vegas in the past decade.
You can find great deals on homes in Las Vegas if you educated yourself about the real estate market there.
How To Learn About The Real Estate Market In Las Vegas
HomeGain is one site we have had a lot of luck using to see what local markets are doing. You can see what homes have sold for in neighborhoods you are interested in, as well as get estimates on what homes are worth.
What homes have sold for gives you the best indication of what the Las Vegas market is doing. If you are able to see what homes sell for over a period of time, you will be able to learn what direction the market is heading.
This site is quick, easy, and always free so give homegain.com a try!
Homes For Sale in Las Vegas, NV
The majority of homes for sale in Las Vegas, NV fall in to one of two categories – foreclosures or short sales.
Starting in 2008 foreclosures made up approximately 75% of the homes that were being sold.
More recently, short sales have become more of a factor in the market as banks are being pressured to accept short sales instead of foreclosing on homes.
So what does this mean to you?
When the majority of homes being sold are foreclosures and short sales, you will be dealing with a lending institution. That lender will either be the owner of the property, in the case of foreclosures, or will be approving the sale in the case of short sales.
These lenders require that there are two real estate agents in the transaction to try to help ensure the legitimacy of the sale. They want to see both a buyer’s agent and a seller’s agent, hoping this helps ensure they are getting the best deal possible. Keep in mind in both cases, the lender is losing money and wants to do everything possible to ensure these loses are minimized.
Real Estate Agents
Because of this, you will need to find a real estate agent to help you. You are able to do all the market research you desire to get a good feel for what is going on, and you can look at homes for sale though a variety of sources. But once you are ready to make the move to buying a home, you should have an agent already lined up.
For information on how to find a good Realtor, please read our first time home buyers guide “7 Steps to Buying a House for the First Time Home Buyer”.
Remember to have fun looking for your first home!
According to CNNMoney.com “The most undervalued market is Las Vegas, where homes sell for 41.4% below fair market”.