LAS blog VEGAS

Here is the link to Part IV of What’s Happening in the Vegas Real Estate Market! 

Step one; decrease the amount of standing inventory. This has already happened, over the past year the builders have been “Buying” the market. I can’t tell you how many offers I’ve seen with HUGE incentive for both the buyer and the Realtors; I wish every Seller would offer a 14% commission when you bring them a buyer. Those days are over, there are still some carrots being dangled out there for the less desirable areas with homes to sell but not 14%! I think new construction has fixed itself and is back on track!

Step two; increase the amount of homes sold per month. I’m not talking about an increase to some crazy number; I just want to see us get back to numbers like 2003 or so. We need to be closing about 3,000 resales per month, which is only about a 20% increase from where we are today. For a metropolitan area of almost 2 million people, this is not a stretch! The synergy of the other steps will make this happen.

 More on this in Part VI

This entry was posted on Saturday, April 21st, 2007 at 12:38 pm and is filed under Las Vegas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.