I have had clients think that their Realtor is not working for them if they do not get any sellers concessions. Now we have proof that that sellers are looking at the bottom line before accepting offers. Thanks Renee.
Here is what buyers received in seller paid concessions on November 2009 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:
- Less than $500: 63% ($500 only buys you a home warranty or (no and) an appraisal)
- Between $501-4000: 20%
- Over $4001: 17%
This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory! Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs!