Home Buying in Las Vegas>Question Details

jnkmail, Home Buyer in Henderson, NV

How do you know the real price of a property?

Asked by jnkmail, Henderson, NV Fri Apr 5, 2013

I realize list price means nothing anymore but I don't understand the concept of multiple offers. It sounds like a silent auction not a property sale. I live 2500 miles from Las Vegas and don't want to make a dozen trips because the home owner can't decide the price he wants. Is it possible for a buyers agent to find out from the sellers agent how much the seller really wants for the house (subject to normal inspections etc.) without any dickering and then either buy it or not. I really don't like playing lets make a deal.

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Rena Levy’s answer

I can hear your frustration coming through your question.
just like in any other business..its about supply and demand. In 2008 through 2010 properties has been standing vacant and on the market for more than 90 days since buyers were not buying real estate and the supply was greater than demand. Prices were button low and the banks were willing to negotiate the price.

In the past year, many buyers and investors have been taking advantage of the low low prices and great deals and started buying properties. this created demand and the supply shrunk.

I understand that you do not like to play lets make a deal, and the frustration in submitting offers that are not accepted because of a multiple offers. you can still take advantage of the low prices and low interest rate and just be patience until your offer is accepted.
Not all sellers are the same and some would prefer an owner occupied. I would suggest to write a letter as an addendum with your offer to the seller with your own words about you and your family..in many cases it works.

I recently had an offer accepted from a buyer that was told by several agents and lenders that she will not be able to purchase a house. She is happily in her new beautiful home and happy because she did not give up !

If you send me an email with the information of the perfect home you are looking to buy, I will be happy to assist you get into your new home as well.

Rena Levy
Certified International property Specialist
702-612-7099 Cell
Realty Executives of Nevada
Web Reference: http://www.cvegashomes.com
0 votes Thank Flag Link Fri Apr 5, 2013
What you're asking is exactly how we TRY to do an offer if at all possible. Some selling agents will not do this but many will. We have good success because we've dealt with many agents since 2005 so we have relationships established that we can then use to expedite. Call me tomorrow and we'll discuss your needs and how we can help you. Matt D'Ercole 702.501.0973
1 vote Thank Flag Link Mon Jun 2, 2014
"I realize list price means nothing anymore." If you offer Full Price on a listing without any contingencies, there is no negotiation. Sounds like you are trying to make an offer below listed price.

David Cooper
0 votes Thank Flag Link Wed Jun 4, 2014
Multiple offers are very common right now in Las Vegas due to high demand and low supply. Here is an article I wrote about making offers in this hot seller's market: http://lvrealestatehelp.weebly.com/1/post/2013/01/robert-ada…

If you would like to read more buying advice click here: http://lvrealestatehelp.weebly.com/1/post/2013/02/advice-for…

I lead a team of agent shere in Vegas and I would be more than happy to assist you with find a home to purchase here in Vegas. the easiest way to get started it to tell me a little more info about the type of deal you are looking for. You can contact me direectly for this or feel free to use our "Buyer's Form" here: http://lvrealestatehelp.weebly.com/buying-real-estate.html

I look forward to hearing from you!

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
0 votes Thank Flag Link Fri May 3, 2013
Hi jnkmail. The short answer is, you don't. Mike was right. This is a seller market now. There are limits if there is a buyer getting a loan. Cash buyers can go as high as they wish. The best solution, buy a new home. These prices are also going up but you don't have multiple offers. Pick one and buy it. Hope this helps.
0 votes Thank Flag Link Fri Apr 5, 2013
There are ways around the bidding wars. I am a listing agent. If you want a house in a certain area, I can get you one without a bidding war. The problem is with short sales there are now affidavits that are signed saying the property was offered to the public. I only work with committed buyers so when you give up on the bidding wars, let me know.
0 votes Thank Flag Link Fri Apr 5, 2013
Unfortunatly in the current market you need to place your highest and best offer. If you are financing and the property is less than 200K, expect to be outbid by a cash offer. The sellers agent usually won't disclose what other offers are on the table.

Mike Kruse
VIP Realty Group
0 votes Thank Flag Link Fri Apr 5, 2013
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