Renee Burrows points out that due to inventory constraints buyers that will need additional help to purchase a home with sellers concessions might be out of luck. I recently closed two homes for Veterans that had no sellers concessions at all.
Here is what buyers received in seller paid concessions on December 2010 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:
- Less than $500: 69% ($500 only buys you a home warranty or (no and) an appraisal)
- Between $501-4000: 19%
- Over $4001: 12%
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!
What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?
General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.
View More FAQ About My Las Vegas Area Real Estate Market Reports.