Sometimes, when first time home buyers start their search, they are concerned that they may miss something. No one wants to find out that they paid too much for their home or that they did not shop around enough. Buying a home is probably the single most important and expensive purchase that most people will make in their lives. We know this to be true and take pride in finding the right home for the client. Not everyone has the same wants and needs. A good agent is a good listener and lets the client pick the criteria that fits their lifestyle. If the area of town is the main focus then that is where you should stay. We encourage our clients to look at all the homes in their price range and area of town. It is similar to the saying “leave no stone unturned”. This strategy helps the buyer feel comfortable that they have seen all of the other homes in the area. When you do find the home that you really like, you know it’s the one for sure. Here are some considerations when you find the right home and want to make an offer.

• Does the area of town you like dictate a higher price?

• Have you done any homework online to see how this area of town has held up in these tough times?
• Are the schools in the area considered good to excellent?

• If this area is considered a planned community, does it have any special tax assessments?

• Is the home highly upgraded and if so, how much value does this ad?
• Does this home meet the requirements for the type of loan you are qualified for?
• Are you going to ask for time to check the condition of the home?
• If this home is under priced in the market, are you willing to pay more than

The Las Vegas Real Estate Market continues to show signs of recovery in this Challenging economy. Many of our buyers feel that this market is an opportunity of a life time. I have talked about this several times but I do feel it should be repeated. The banks are starting to respond in a timelier manner. This is a good sign that signals the start of more to come. The bank owned foreclosures continue to lead the market at over 74% of total sales. Most of our buyers are not used to dealing with the banks as the seller.
Many of these foreclosures are listed at fire sale prices that almost seem to good to be true. These listings do generate a lot of attention and if the property is nice, they usually sell for substantially more than the asking price. We should not be shocked that the banks main objective is to sell the property for the most amount possible. Sometimes they just arrive at the sale price in a different manner. We do have to realize that the banks are taking a great loss on these properties so we as buyers need to look at more than just the asking price. Of course you want a smoking deal but you may need to step back and take a look at the total picture. You will notice when you start touring the bank owned homes that there is a lot of interest and a lot of offers being made. Here are some points to consider when you are trying to get an offer accepted.

• The asking price has nothing to do with the true value of the home.
• Just because the home is priced low, does not mean it’s a great deal.
• Your agent should be experienced in bank owned properties and know how to find out their bottom line.
• Location is everything.

• If there are multiple offers, you may need to restructure your offer.
• Remember, it’s your money and you make the final decision.