About 2-3 months ago I sent out an email to all my past clients giving them an update on the market and inviting them to contact me if they were thinking of buying or selling. The next day I had an email back from this family who explained they had recently had another baby, were outgrowing their current rental home and in fact had been thinking the time was right to purchase a home.
We soon found a former model home which did need a coat of paint and new carpet, but was otherwise in great condition with granite counters, upgraded cabinets and tile flooring in the kitchen and hallways. We got our offer in quickly after the home came on the market and were in contract at a price lower than had ever been seen in the neighborhood. Even I was amazed to see homes selling around $60 per square foot. It was a bank owned home, so it took about 45 days to close and now their family is enjoying a 2500 square foot home with room to grow into for around $1300/month which is what they expected to pay had they rented a home of that size.
...and I'm looking forward to sending them a reminder at the end of year about the $8000 tax credit they have coming to them!
Buyers are in the Las Vegas Valley are purching homes at a fraction of their previous value. Home values have plummeted and current pricing is equal to the pricing in the very early 2000's (pre boom). Almost every buyer with great representation in a knowledgable and experienced real estate agent is getting a great deal. There are thousands of them occuring each and every month.
Coldwell Banker Premier