Uncertainty + Homes for Sale = Good News

By
Real Estate Agent with The Wilk-DeShaw Group

 

Uncertainty + Homes for Sale = Good News 

Now there’s a headline that doesn’t seem to make much sense! But here is why I think it does:

For a long time the ‘the economy’ seemed to be just some distant abstract notion. Talking heads on Sunday shows jabbered about it, made predictions or shied away from making predictions about it, and life went on either way. Certainly Las Vegas homeowners would decide to put up their homes for sale and prospective buyers would look for Las Vegas homes for sale without first checking on the state of ‘the economy’. Remember those days?

Then the whole thing seemed about to crash (and just missed doing so). People started to pay attention as their own lives became affected. Soon everyone began to pay attention, and to hesitate before making plans.

And now we have a situation where the economy is…headed up? Headed down? In a stall? About to stall? It’s anyone’s guess. It’s no wonder why individuals and families have been waiting for ‘the economy’ to declare itself one way or the other before making major decisions (such as beginning to hunt for Las Vegas homes for sale).

When there’s uncertainty in the air, it does not create a comfortable atmosphere for making large commitments. But there are major reasons – comfort aside –  why the atmosphere this March may be perfect for beginning to seriously investigate Las Vegas homes for sale.

Inventory

In any market, buyers find options when inventories are strong. The uncertain financial conditions have led to precisely that situation. It also makes it much more likely that you will be able to find precisely what you desire…and probably at an affordable price.  Our local inventory has reached an epic low and homes are going off the market as fast as they are going on. The halt of foreclosures by the banks has increased the competition for the homes that are left and moving us towards a short sale weighted market.

Low financing rates

One factor about which there is no uncertainty at all is this March’s financing rates. Rates are famously low, and most of the aggressive financial products that were associated with mortgage shenanigans have already been discontinued. First time buyers can check out the FHA to find out what options are available. And if you look at any historical chart, you will see how the squiggle is scraping along the bottom – the ‘good news’ area for homebuyers!

Discounts from builders

Many builders have grown keenly interested in saving their credit by clearing out inventory. In this kind of buyers’ market, it’s not unusual for potential buyers to ask for improvements, price reductions and discounts on closing costs.

The only thing that is certain about the future is that whatever is happening today, sooner or later it will change. When it’s widely agreed that ‘the economy’ is roaring back, the factors that are so favorable now will change with them. That’s why I believe that for area homebuyers, Uncertainty + Homes for Sale = Good News!

 

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Contact us to receive a Market Snapshot of your area of interest in Southern Nevada. Think of the Wilk-DeShaw Group when you or anyone you know is considering buying a home, selling a home, or investing in real estate in Nevada, Arizona, California, or Utah. Residential, Luxury, Commercial, Leasing, Property Management.

Attorney assisted Short Sales with no out of pocket to the Seller!

Daryl B. DeShaw
Wilk-DeShaw Group
Residential | Luxury | Commercial
Las Vegas, NV 
(877)583-5058
Daryl@Wilk-DeShaw.com


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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 03/25/2012 03:48 AM
Topic:
Real Estate Market Trends
Location:
Nevada Clark County Las Vegas
Groups:
Las Vegas Homes
LasVegasMarket
Tags:
las vegas real estate
nevada homes
market report

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Rainer
44,690
Ron Tiller
Star Referral - Grand rapids MI - Grand Rapids, MI

The only certainty in this market is that it will remain unpredictable.

Mar 25, 2012 03:36 AM #1
Rainmaker
1,155,112
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

When there is uncertainty in the economy, adjustments must be made to offset it.  Strong inventory along with low rates should have made buyers do something last year but they didn't.  This year they are starting to trickle back into the real estate marketplace - lots of pent-up demand, I think.

 

Mar 25, 2012 03:56 AM #2
Rainmaker
865,087
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

For all the reasons you've mentioned, I strongly feel that now is the best time in many, many years to be buying a home. Any buyer who has ever thought of buying a home for the first time should get off the fence and do it now.

Gretchen

Mar 25, 2012 06:26 AM #3
Rainmaker
623,234
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I had a buyer a few years ago when the economy was very unstable say that now is the best time to buy because nobody else is buying.  I think that person had a lot of courage and they are very pleased that they purchased when they did.

Mar 25, 2012 07:30 AM #4
Rainmaker
733,884
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

A buyer able to look in a segment of the market where there are multiple options is definitely a plus. 

 

Mar 25, 2012 07:42 AM #5
Rainer
94,133
Vince McEveety
Gilleran Griffin Realty - Sherman Oaks, CA

it's an interesting take on uncertainty

in practice i've found many buyers who take it as a sign to wait

Mar 25, 2012 07:45 AM #6
Ambassador
2,011,593
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Daryl - I hadn't thought about it that way though I can see your point of view.

Mar 25, 2012 11:53 AM #7
Rainmaker
1,317,857
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

The uncertainly is definitely having a deterrent effect on buyers.   I also think the political uncertainty and the uncertainty in the world is also having an impact.

Mar 25, 2012 12:44 PM #8
Ambassador
4,309,924
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Daryl, I like your equation - though I do not agree much with uncertainity now as I have seen a few multiple offer scenarios. It is certain - buyers are out in market to buy unlike last few years where they were scared of everything that was uncertain.

Mar 25, 2012 02:02 PM #9
Rainer
345,887
Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Great angle to approach the "uncertainty" situation from. Those who continue to wait and wonder when the time will be right (i.e. "perfect") to get the best deal are going to find they've missed out.

Mar 25, 2012 10:53 PM #10
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Daryl B. DeShaw

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