If you’re house hunting over the holidays, you’re likely a serious buyer with an immediate need. Perhaps you have to relocate for a new job opportunity, or there’s been a change in your personal life? Regardless, while you may assume it’s not an ideal time to be looking — namely because there isn’t much to look at — there are some advantages to buying this time of year. First and for most, there is less competition in the real estate market this time of year. This makes it easier for you to take your time while house hunting, and making it so that you do not go against multiple offers or go through a bidding war for a certain home in the Las Vegas area. During the warmer months, and especially in summer you can put an offer on a home that has only been on the market for 3 hours and there will be multiple offers on the home, in the winter it is so much slower making it easier to get into your dream home. More than likely, if someone is listing their home during the holiday seasons, it is because they desperately need to sell the home. Rather it is because they got a new job, and have to move fast, or if it is because they want to sell the home before next year’s taxes, there is typically always a reason on why the home owner is selling right in the middle of the Holiday Season. You will more than likely get a fast loan approval around the holiday season, with the lenders slowing down with less cliental they will be more available for you and your home loan. Some lenders might even be willing to reduce fees during the off-peak season in hopes of gaining your business. Regardless, don’t just go with the first lender who comes along. It pays to shop around. Get multiple quotes and check out lender reviews online before you go with the first one you find. HOME SELL VALUE GOES DOWN DURING THE HOLIDAYS; yes I said it. As we all know, the buying and selling market have been at an all time high, and seems like it is just going up and up, but studies show that homes go down in value more in December than any other month in the year, so when you are putting in offers on homes, you will not need to be as aggressive with the bidding wars as you would in the peak of the Summer. Buying a home seems like all fun and games, but do your research with EVERY aspect of the home, think about what agent you want to represent you, and what lender will have your back and give the best deal, then do research on the community you are looking in, not every home is worth what it is being sold for. There are thousands and I mean thousands of research pages online, and even getting an agent you trust will give you ALL the information on the properties you are looking at and purchasing will make this really go smoother.
When you are in the middle of a Las Vegas Real Estate transaction there are a few things that your buyer should know, but probably doesn’t know because they were not educated on them. Most of the time owners want to sell their home fast, and want it done their way; unfortunately that is not how the real estate market works here in Las Vegas. You don’t want to hurt your clients’ feelings. But undoubtedly there are a few things that pop up in the course of transactions that you wish sellers already knew, so that you could avoid having some awkward conversations with them. Start with the way the home is presented, the sellers décor is not always how the buyer would decorate so it makes it very hard for the buyer to picture their own furniture in the home; yes, your clients might have the home absolutely BEAUTIFUL, but when you are selling your home do not decorate like it is your home. Make it very modern and how a “show” home looks. Very open, clean and neutral. Clutter, in particular can make your home feel very crammed when the buyer walks in and it will instantly put a bad taste in their mouth. No I am not saying you need to go out and get you home staged but defiantly make sure your sellers know Less is More. Also another big thing that puts a bad taste in your buyers mouth is how the home is painted, if you have all sorts of bright colors on the wall like red, brown, and green that might push them to the NO side of the buy, having the home either painted white, or neutral colors will really open up the home and make it feel bigger. If you are the seller, do not be secretive with your agent. Sellers need to disclose even the small things that are wrong with the home, like leaky faucets. When your agent knows what is wrong, they came make sure it does not come back to bite you at the end of the transaction. Make sure your seller knows remodeling their home does not guarantee a price increase. While remodeling projects may enhance a property, the projects homeowners take on are never a guarantee of payback at resale. Of course if they redo flooring and kitchen, it will catch a buyer’s eye, but there is not for sure that your home value will increase as much as it cost to re-do those things. Make sure your seller is ready to fix some things in the home. Sellers may have to spend a little bit of time getting their house ready to be sold, things so simple that you have been living with for years can turn your buyers eye or make the deal fall through because “they thing your home needs a lot work” easy things like replacing the trim the dog scratched up, or power washing the driveway/garage and the back yard patio (if you have one), and even fixing a leaky sink that has caused a little damage to the drain. Having things that catch the buyers eye look pristine will really keep them interested in your Las Vegas home.