August 28, 2009
You've no doubt heard that knowledge is king. Well that is only a half truth. If knowledge is outdated, it is useless; Especially if you are in the market for a home in the greater Las Vegas area. The combination of low prices, not seen in 2002, and low interest rates have created an affordability rate for housing in Las Vegas not seen since the early 1990's. This affordability rate is what is driving the demand for housing in Las Vegas through the roof. Multiple offers are now the norm and not the exception. It is not uncommon for a well priced home in good condition and in a desirable area to see up to 18 offers. This is driving the price up. As a matter of fact, the median price (that level at which half the homes sold are above and half below) actually increased in July for the first time in nearly two years.
Ok, back to the "Knowledge is king" point. Many search vehicles offered on real estate web sites require a sign in and personal information to be given prior to use. These web sites along with realtor.com® can be several days behind in listing current listings and status. With so many buyers vying for so few bank owned homes (less than 3 week supply at current levels) up to date information becomes critical for a successful home buying experience.
The Cale Team is proud to be one of the few Las Vegas Area Realtors® to offer their clients the use of the home buyer's scouting report. This password protected search site offers the most up to ate information available to the general public when searching the MLS. This resource helps The Cale Team's clients save time by giving them a head start over other potential home buyers. And in this market, saving time can save you money.
Contact The Cale Team to see how you too can begin to benefit from the home buyer's scouting report. Get a head start on your competition today.
August 6, 2009
Is It Time to Re-think the Short Sale Option?
"Buyers who formerly shied away from looking at short listings in the past, are now in the process of re-thinking their options on short sales. As the inventory of bank owned homes shrinks and multiple offers on the better listings increases, many buyers are now willing to consider the short sale option", says Ron Cale of the Henderson Prudential Americana office.
Cale and his team of agents once specialized in buyer representation at new home communities. They are now looking to the short sale market to offer their buyers quality homes, without some of the disadvantages of bank owned properties. "Short sale homes are usually in better condition", says Cale. This is because short sales usually have the owner still occupying the property. The landscape is in better condition, and deferred maintenance or destruction of the home rarely occurs. The extended time to close on an accepted offer may be the only disadvantage of a short sale transaction. But Cale states that many of their buyers are just willing to delay the closing on short sales as with a new home.
Cale states that the knowledge and experience of the agents involved are critical to the success of a short sale and can really help the client walk through the mine fields of short sale escrows. The right guidance can make the difference between a satisfied and happy client, and a very frustrated buyer. "If considering a short sale offer, it is wise to look for an agent who has attained the certified short sale professional designation", advises Cale. He thinks this education important enough to have his entire team achieve this certification level.
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