Is now the right time to buy or sell your home?
Posted by New Home Resource on May 29, 2014 in
Home prices have soared, dropped and then climbed again all in the last few years. It is hard to predict and assess the housing market in Las Vegas when it is more of a roller coaster than a joy ride. We have finally reached a point, in almost a decade, where prices have shown signs of being “normal”. Property value is still expected to climb in the coming months but at a very slow rate. Short Sales and Foreclosures are no longer addressed as common and forecasts of a slowdown in home values are showing to be wrong.
With all of this insight and the unpredictable market how do you know when to sell? How about when to buy? It depends mostly on your priorities and goals. If you wait until you’re ready to buy or sell a home you will most likely never do it!
Why it might be a good time to Buy a home:
Affordability – Houses in Las Vegas are still more affordable than in other large cities around the United States. It is very likely that as a 2-income household you will be able to afford a home that is large enough for you and your family.
Choices – There are almost double the number of houses for sale now as there was last year at this time and the prices of homes are only expected to rise.
Why it might be a good time to Sell your home:
Better odds of finding a buyer – As the economy improves Las Vegas jobs are opening up which means people could be moving or hunting for a home, which greatly improves your odds of selling.
Cutting your losses – If you bought when the market was low, this may be your chance to make a nice profit by selling your home.
If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!