Stuck in a Home

By
Real Estate Agent with Specialists Real Estate

I visited with a family last night who feels stuck in their home. They want to move up because prices are amazing in the Las Vegas market. However, they had their home listed for months with an agent before deciding to move back into it and pull the listing. I felt bad for the agent as well.

CNN featured an article about being in a home you don't want but can't sell. Many may be in that situation. They want to move up or down or just away but can't because of the inability to sell.

The only thoughts we could give last night was to hold on for some time. The market has softened considerably and it isn't going to spike up over night. Home owners should save money where they can and prepare for the opportunity down the road. There will be a day months out or in a year or two when a strong shift is likely to occur as a natural real estate cycle. The shift will happen significantly in Las Vegas because of the nature of the growing economy. More people will be moving in that available residences. That demand will drive prices up nicely. If you are considering a sale ask your Las Vegas real estate agent what your options are.

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Rainer
208,221
James Wexler
wexzilla.com - Scottsdale, AZ

we have had some success here with loan modifications so people could get the payment to a much more manageable level or below what a rent might cover if they decide to rent and move up

Oct 07, 2008 03:25 AM #1
Rainer
232,708
Tim Ludemann
Ochopee, FL

Great article...that is what is really slowing the buying process the circle of sales is stoped because people can't sell to buy something else...crazy times

Dec 26, 2008 01:57 AM #2
Rainer
142,663
Robert Earl
Choice Homes Team - Saint Petersburg, FL
The Earl of St. Pete

Still an interesting situation in 2010 that many looking to sell in Northern Virginia are facing.

Jul 29, 2010 02:31 AM #3
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Rainer
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Darren Hildreth

Realtor - Las Vegas Real Estate Agent
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