Before you consider short sales in Las Vegas, talk to an experienced Realtor about your timeline and goals. In many cases, it can take a lot longer to get to closing if you are buying a short sale versus a traditional sale in Las Vegas. If a short sale listing perks your interest, your Realtor can find out if the current listing price is bank approved or whether it’s a general starting price put out by the listing agent. A short sale is more challenging if you are juggling a home purchase with a home sale. According to a recent article by washingtonpost.com, there are ways to improve your chances of a smooth house closing. An experienced Realtor can help you jump from the closing on the sale of your home to the closing of the purchase of a new home, minimizing your stress. Unless you plan to make an all-cash deal, prepare for closing with all your mortgage documents so there aren’t any setbacks.
Timing is everything when it comes to getting the highest price you can in the Las Vegas real estate market. If you own a home that would appeal to families with children, you would do well to list your home according to the school calendar. Most families want to get settled into a new home in the summer before school starts. If your home is one that would attract baby boomer retirees or part-time residents, consider listing during the winter. In Las Vegas, the temperatures drop to the thirties at night during the winter, but then climb to the fifties and sixties during the day. According to an article by trulia.com, smart home sellers time their listing. A good Las Vegas Realtor can guide you so you don’t lose out on the current hot seller’s market . Your Realtor will fill you in on the seasonal trends in home searches.
Whether you are a first-time homebuyer or a “boomerang buyer” who lost a home due to foreclosure in the housing crisis, now’s a great time to jump into the housing market. Some people automatically gravitate to short sales in Las Vegas because they know they can get a bargain. Oftentimes, the current residents are maintaining the home and keeping the utilities going until the deal is completed. In other cases, the home sellers have already moved out, but the bank has agreed upon a sales amount that’s less than what the current owner owes on his or her mortgage. Because it can take so long for some short sales to go through, many first time and boomerang homebuyers are looking for alternatives to short sales to land an entry-level home.