It was inevitable. The real estate market in Las Vegas is shifting. But what does that mean for you? It’s a good thing, for buyers AND sellers… Read on, as The Thomas Group presents ways how buyers and sellers can both navigate – and become successful in today’s shifting market.
With interest rates going up quicker than anyone expected, buyers have almost vanished from the market, and inventory is increasing dramatically. The Thomas Group weighs in on how buyers and sellers can both win in today’s real estate market.
“Gone are the days of every house receiving multiple offers with buyers waiving contingencies and promising to name their unborn child whatever the seller’s name is,” says Steve Thomas of The Thomas Group.
For example, Steve says home prices in Las Vegas and Henderson went up by an average of 25% last year. This means that there are tons of homeowners who have plenty of equity.
Most buyers these days will say that they’d buy a house but could only afford the mortgage payments on last year’s rates. This brings the question of what sellers can do to incentivize buyers and differentiate themselves from every other home for sale.
“Most buyers don’t know that you can actually buy your mortgage rate down. Meaning, if interest rates are 5%, you could give the lender money up front and get that down to 4% as an example,” explains Steve.
Because most buyers have seen the property price increases over the last 12 months, as well as interest rates going through the roof, they just can’t afford what they used to.
Steve tells homeowners to take a small piece of their equity and offer it to a buyer so that they can buy the rate down.
This makes it a win-win for everyone while at the same time allowing them to get top dollar for their home and make their property appealing to many.
On its YouTube channel, The Thomas Group provides impressive videos on how buyers and sellers can wade through the real estate market today – from emergency Las Vegas real estate market updates to incredible off-market Las Vegas homes for sale.
Buyers and sellers can check out The Thomas Group’s YouTube channel via youtube.com/c/TheThomasGroupRealEstateLasVegas to learn more about the latest in real estate. They can also schedule a free consultation by reaching out to The Thomas Group right away on their website – TheThomasGroupLV.com
Media Contact
Company Name: The Thomas Group of Las Vegas
Contact Person: Steve Thomas
Email: Send Email
Phone: 702-305-7776
Country: United States
Website: https://TheThomasGroupLV.com
