What Does The Current Housing Supply Mean For Las Vegas Sellers?

 August 3 2021What does a low housing supply mean for sellers?

One of the hottest topics of conversation in today’s real estate market is the shortage of available homes, not only here in Las Vegas but around the country. Simply put, there are many more potential buyers than there are homes for sale. As a seller, you’ve likely heard that low supply is good news for you. It means your house will get more attention, and likely, more offers. But as life begins to return to normal, you may be wondering if that’s something that will change.

Read more: What Does The Current Housing Supply Mean For Las Vegas Sellers?

What's On The Horizon For The Second Half Of 2021?

What is happening to real estate prices for the rest of 2021?Thursday July 8, 2021

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon?

Mortgage Rates Will Likely Increase, but Remain Low

Many experts are projecting a rise in interest rates. The latest Quarterly Forecast from Freddie Mac states:

Read more: What's On The Horizon For The Second Half Of 2021?

Why You Should Consider Selling Your Home In Todays Sellers Market

11308 Rising Ridge Summerlin Nevada 89135 April 18 2021

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for a home to purchase in Las Vegas.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):

Read more: Why You Should Consider Selling Your Home In Todays Sellers Market

The Importance Of Pre-Approval When Buying A Home

Why is it important to be pre-approved for a loan when buying a house? June 24 2021

You've probably heard that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer.

Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan.

 

Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.

Read more: The Importance Of Pre-Approval When Buying A Home

Folks Are Asking Me; What Are the Benefits of a 20% Down Payment?

Benefits of a 20% down payment  March 02, 2021

If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers who don’t want to put 20% down, it’s important to understand how a larger down payment can have great benefits too.

The truth is, there are many programs available that allow you to put down as little as 3.5%...

Read more: Folks Are Asking Me; What Are the Benefits of a 20% Down Payment?

©  Christopher Breceda, S.0187576 :: Phone: 760.613.4788 :: Website by 422 Media

ERA Brokers Consolidated, 1735 Village Center Circle, Las Vegas, NV 89134 :: 800.372.2765