No More Offers!! Cash Only!!
Side note for sellers and agents: (I hope the listing agent got those words in writing from the sellers)
These are some terms that agents are putting in the listings for sale here in the Las Vegas area and buyers must be prepared to hear this from their agent, especially when looking at homes under $200,000.
It is the Sellers choice to accept Cash only, so, many buyers that are qualifed buyers that will be financing their home purchase, are left out to dry so to speak and not in the running for many homes due to this seller's choice to accept cash only.
With rising Las Vegas home prices and still many cash buyers in the marketplace, it has become almost common place over the past 2 months to see listings that say: "only accepting CASH Offers, CASH only"
Rising prices and higher interest rates may also push a buyer into a lower price bracket and possible into another 2nd to 3rd or 4th choice of neighborhoods that the "ideal" one they wanted.
Buyers must have patience and perserverence and hang in their to find their home in this market.
Another option many buyers may want to turn to is new homes, but the prices are rising fast on them as well and many times you will have the build out wait.
If you want to buy a new home REMEMBER to WAIT and get your agent to show take you to the builders sites otherwise your agent won't be allowed to represent you on the deal - this is the builder's terms.
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By: Dawn Barrier
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