Home prices are rising in the Las Vegas market and properties do not remain on the market for long. Whether it is downtown Las Vegas or its outskirts, homes are selling like hotcakes. According to Realtors association (GLVAR), there is less than three months supply of homes available in the market, making it a dream for the sellers.
There are solid reasons why the housing market in Las Vegas is hot at the moment. A strong local economy coupled with decreasing unemployment has given a big boost to the housing market. It is not just single family homes that are in demand but also condos and even town homes that selling in large numbers. Inventory is low and homes are in high demand. The suburbs of Las Vegas are where the action is as median home prices in a community like Summerlin have reached a record high medium home price. It is a great time to sell your home and book the profit now.
It may be a dream run for homeowners right now in Las Vegas but still there are many who make fatal mistakes when trying to sell their homes. You must avoid these mistakes when trying to sell your home to make sure that your home not only sells quickly, it also gets the desired asking price.
Do Not Set The Price Too High
Many homeowners, in their excitement of fetching big profit from their homes, set the asking price too high. Given that there are more buyers than sellers, you cannot expect to fool a buyer who has so many sources of information these days. Serious buyers ignore your listing in the MLS if they feel the price is unrealistic.
Do Not Take First Offer Lightly
Many homeowners, believing there are too many buyers out there ignore or do not take the first offer that they receive seriously. There is nothing wrong to think that it is better to wait as many more and better offers will come. But it has happened in many instances that sellers had to settle for a lower than first offer when they ignored the first offer. Unless you are in a multiple offer situation for your home, take the first offer very seriously.
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