Does anyone know if homes under $100K are getting multiple offers?

Asked by Modesta Gilpin, Carlsbad, CA Mon Jun 18, 2012

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Rena Levy’s answer
Rena Levy, Agent, Las Vegas, NV
Mon Jun 18, 2012
Hi Modesta,

So, now that you have all this information and knowing that Las Vegas homes under $ 150,000 are selling like the wind, thousands dollars above list price, and cash is the preferred seller's choice..the question is: HOW CAN YOU BUY A HOUSE IN TODAY'S MARKET??
Here are few tips to purchase a property in this current market of Multiple Offers:

1. Look for Short Sale properties that are Pre-Listed and before they are public Knowledge.

2. Work with agent that has knowledge of Pre-Approved Short Sale properties by the bank, that can take shorter time to close and can act quick .

3. Be open to buy in all areas and not just specific area.

4. Adjust your plans and expectations if you are an investor, and be willing to settle for less than 10% return on your investment.

5. Be willing to offer more than the list price ($$) and be assertive with your offers.

6. Make "CLEAN " offers with short inspections and short escrow. Offer large than required Earnest money deposit.

7. Make offers without seeing the property first (could be risky..but most of the current buyers make offers without physically seeing the property first) SUBJECT TO INSPECTIONS!! You can ask the agent to view the property and take additional pictures for you.

8. Be able to make quick decisions when you are notified of a new property for sale.

9. Work with an agent that is willing to work hard and aggressive to find you a property.

I hope that these tips will be helpful to you. If you like to receive a daily HOT new listings to your email, please contact me at cvegashomes@gmail.com or 702-612-7099. You can also visit my website at http://www.cvegashomes.com to search all the homes for sale in Las Vegas.

I do have a three bedroom house with a pool for sale in the South West area with a pool
for only $ 129,900 that is NOT REO or SHORT SALE. Its completely remodeled and renovated with granite counter, tile floors and much more. I can also send you a virtual tour of this house.
http://www.propertypanorama.com/tour.asp?id=187695

Rena Levy
Broker/Associate
Realty executives of Nevada
702-612-7099
cvegashomes@gmail.com
Web Reference:  http://www.cvegashomes.com
0 votes
Hank Lauzon, Agent, Las Vegas, NV
Mon Jun 18, 2012
Hi,...Unfortunately,....Multiple Offers on good properties is a reality right now.,
Especially under 150k.

Patience and persisitance, combined with clean offers gives you a shot at the property you are interested in.

Sincerely,
Hank Lauzon III

Exit Las Vegas Realty Center
6600 W. Charleston #119
Las Vegas, Nv 89146

Cell 702-449-0899
Office 702-949-2409
Fax 702-543-6844

Web : http://www.HanksLVRealestate.com

Email HankLVRealestate@aol.com

Never look down on anybody...unless you're helping them up.
1 vote
David Cooper, Agent, Los Angeles, CA
Thu Jun 28, 2012
If you are motivated, have cash, and can make a decision today, there are still some nice government foreclosures available under $100,000. But that's today!!!


David Cooper Investor and also Buyers Agent at Since 1917 Realty 702-499-7037
http://www,lasvegaswinner.org
0 votes
Renee Burrows, Agent, Las Vegas, NV
Thu Jun 28, 2012
Big time. Just to give you an idea - we are selling almost the same amount of homes monthly as we have sitting on the market in active status. It's a frenzy out there!
0 votes
Carolyn Dahan, Agent, San Diego, CA
Tue Jun 19, 2012
Hi Modesta,
That is not only happening on homes under $100K but on higher priced homes as well. We are experiencing an all - time low in our inventory levels which is causing multiple offers and some pricing increases. Unfortunately appraisals have not caught up with the pricing increases so the cash offers usually win out.
Thanks,
Carolyn Dahan
Prudential Americana Group
Cdahan@cox.net
702-250-2739
http://www.HomesByDahan.com
0 votes
David Cooper, Agent, Los Angeles, CA
Tue Jun 19, 2012
Yes, there is a lot of activity for homes under $100,000, but the fact is you can still be the winning bidder and get a home under $100,000. Your question doesn't make it clear if you want to buy a home or just to verify that Las Vegas is in another real estate boom!


David Cooper Investor and also a Buyers Agent at Since 1917 Realty 702-499-7037
0 votes
Lucy Pinon, Agent, 89169, NV
Tue Jun 19, 2012
Yes. Most single family residences with a garage, under $100,000 will receive multiple offers. The exception seems to be the homes with extensive damage, or in high crime neighborhoods. In this market be prepared, to over bid. Or, learn to be forgiving on a home that needs new carpet, paint, tile, etc...
0 votes
Myra Gouger, Agent, Las Vegas, NV
Mon Jun 18, 2012
Almost all homes in this pricerange aremany multiple, multiple offers.
0 votes
David Cooper, Agent, Los Angeles, CA
Mon Jun 18, 2012
M. Gilpin. There are 16 homes 3+2 under $100,000 on a government foreclosure list as of June 18.
If you have the cash and really want to buy today, you can still get in. The investors that are prepared to act are still getting these properties.


David Cooper Investors and Buyers Agent at Since 1917 Realty 702-499-7037
0 votes
Jane Snow, Agent, Las Vegas, NV
Mon Jun 18, 2012
Hi Modesta,

Multiple offers are back in Las Vegas. With inventory being very low and high demand prices are beginning to inch up.

Call me and I can give you current market information! (Wish I was in Del Mar!)

Jane Snow
Wardley Real Estate
702-338-3067
0 votes
David Cooper, Agent, Los Angeles, CA
Mon Jun 18, 2012
The May Median List Price in EAST, Las Vegas MLS Area is $70,000 and the Median Closing Price is $72,000. Of the 3900+ SOLDS in May, 50% were Cash Only. If you have the cash, you can still get in.
Information and good research can get you that under $100,000 house, but you must act today.


David Cooper Investor and Buyers Agent at Since 1917 Realty 702-499-7037
0 votes
Alain Picard, Agent, Puyallup, WA
Mon Jun 18, 2012
I know out here in Washington they are.
0 votes
Donna Hodge, Agent, Henderson, NV
Mon Jun 18, 2012
Hi Modesta,

Houses in that price range are receiving multiple offers, especially if they are not short sales. And even some short sales are receiving multiple offers.

Mike Pristow, Donna Hodge & Associates
Keller Williams Realty
702-604-1001
0 votes
Robin Gray, , Las Vegas, NV
Mon Jun 18, 2012
Hello Modesta,

I don't know what the real estate market looks like in Del Mar, CA, but let me tell you, here in Las Vegas, things are CRAZY. Inventory levels are very low (under 4800 total properties available in the MLS). This is causing many multiple offers.

Just this week, I had 2 clients in multiple offer situations. In both cases the properties were under $150,000 and there were over 18 offers for each property. Also, 50% of the offers were CASH.

So if you are thinking about purchasing in the environment, it will be important to find an agent that will work with you on a strategy and will keep you focused. Also, you've got to be patient.

If you need assistance, give me a call at 702-517-3078.

Thanks and good luck.
0 votes
Jeff Wallenf…, , Las Vegas, NV
Mon Jun 18, 2012
Yes. Almost universally. Sometimes a dozen offers in 2-3 days.
0 votes
Mark Fleysher, Agent, Las Vegas, NV
Mon Jun 18, 2012
They definitely are; I've been hearing 5-30 offers on homes within 48 hours.
0 votes
John Brassner, Agent, Las Vegas, NV
Mon Jun 18, 2012
Any good deal is getting multiple offers even into the $300k price point. $100k is a very difficult price point unless you are an owner-occupant buying an older Fannie Mae or HUD property.
0 votes
Steve Mikrut, Agent, Henderson, NV
Mon Jun 18, 2012
YES, they are...all of them :)

Steve Mikrut
0 votes
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