Increasing home prices in Las Vegas

Home prices are increasing quickly in Las Vegas.  The average real price of a home is now $220,000.  Click below for entire article.

Home prices on the rise in Las Vegas

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New Listing! 11466 Steponia Bay St, Las Vegas, NV 89141 MLS#1580349 $309,900

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Gorgeous Southern Highlands living!!This home is a gem, beautiful floor plan with great room and wet bar in the step down living room. 3 full baths and 4 bedrooms, fantastic 3 car garage with plenty of storage room. All up graded trim and baseboards, entire home is tile and high quality man made wood flooring. Granite counters throughout , extra large yard with room for a pool and spa

Call or text today for Private showing 702-338-8526

New Listing! 3522 Freestone Lane, North Las Vegas, NV 89032 MLS # 1584656

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Charming 3 bedroom 2 bath home with all appliances included for $174,900.  Tile flooring, fireplace, large enclosed patio with hot tub, beautiful palm trees in front and back of home with a back yard storage shed.  Great Property all for under $175,000

3522 Freestone Lane

North Las Vegas, 89032IMG_0870

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Call or Text Today for Private Showing!!! 702-338-8526

Correctly Pricing Your Property and When to Reduce the Price

Housing prices are not rising at such rapid pace at this time.  The market likely will never catch up to the price you are hoping to get for your home if you have overpriced the property. Waiting for the one buyer to come in and give you your price usually is a poor strategy if you have any motivation to sell.  Typically, the longer the house is on the market the lower the sale price.  Unless you are willing to wait several years for a 15% increase you are much better off considering the holding cost of a home and reconsidering pricing.  If you are making $2500 mortgage payments each month you will be spending a minimum of $15000 if you hold your property for six months.  This is what you will spend without considering utility costs, maintenance, cost and having to be responsible for any problems that should arise such as a faulty air conditioner or heating unit.  This could also lead to another $10,000 in expenses.   If you have any motivation to move within a reasonable amount of time it makes much more sense to reduce the price of your home sooner.  The longer you wait the more risk of more expenses and the house starts to “look” old to potential buyers.  The benefits of a price reduction usually always outweigh the risk of waiting too long to get your price.