First time home buyer deadline is fast approaching. Clients without an approved contract right now are not looking at a close date on or before 11/30/09. Cash buyers and conventional buyers are hopeful. Give yourselves 2 more weeks then you need to worry. Or maybe not. My clients who are first time home buyer with FHA or VA loan are not considering meeting the 11/30 deadline for tax credit. Why? All of our offers are outbid by cash buyers. Call it unfair however this is the reality of the Las Vegas market. Banks are taking cash offers over FHA financing or VA financing. Why banks need money and they want moneyfast. My buyers are now looking at new homes and short sales. One buyer is interested in putting an offer on new contruction in the Southwest paying $165,000 for a 1,550sqf home. Not a bad deal. We will close on the home in February 2010. A bit of a wait but we have a house for my first time home buyer. Another buyer is making an offer on a short sale property that will take another 30 days for approval. She will miss the 11/30 deadline however she too will have a house soon! First time home buyer is a great incentive to urge people to buy. It should not be the ONLY reason. Til next time everyone!
Mastermind $100k club is on Tuesdays. Today our group brainstormed on the Las Vegas real estate market. How it is now a seller's market with multiple offers on each property listed for sale. There is less than 5 months of inventory for desirable neighborhoods. Therefore sellers are dictating sales price. Now banks who represent 90% of home sales are not paying for repair costs, home warranty, sometimes closing cost because sellers now have options. If buyer A doesn't want to buy the house there is buyer B, C, D, E, sometimes pass buyer Z. Can you believe it? I can! Home prices in Las Vegas has dropped more than 50% more in other local areas, it's time to buy. Mortgage payments coupled with low interest rate is beating out rental payments. Why not build your home equity now instead of paying for someone else's mortgage.
After taking a week off from my real estate business for training in CA I came home refreshed. Instead of an annual goal of earning $150,000 to $200,000 why not make it big? It's the samey effort why not $100,000 a month? Many Realtors have done it and are doing it now. Why not me? Breaking it down from $100,000 a month in commissions to 33 sales a month at an average sales commission of $3,000, average sales price $125,000. Or that is 15 sales a month at an average sales commission of $7,000, average sales price $250,000. What a new concept! I am getting pretty excited about a new plan, making $100,000 a month.
Did you notice that Realtors are the least respected profession? Well if it hasn't been noticed before I was reminded of it today. I have a client who is panicking because we wrote 9 offers not one has been accepted. Welcome to the Las Vegas market of the new, the impatient, the disobeying :) Well this client has seen several houses today with my colleague then became extremely unhappy and temper tandrum like. She, a female, you figure, is irate because she wants to see more houses. She demanded that my colleague show her houses and asked my colleague to call me and demand that I continue the appointment in the afternoon. Realtors only work with one client that's the latest news I haven't heard. Well needless to say I stuck to my ground and met all of my afternoon appointments without making schedule changes like a good Realtor should. Guess what I am firing her. There are so many people out there who is appreciative, patient, considerate as clients. I don't want to be dragged down by negativity. She can find herself another Realtor who will succumb to her every wish. I run a business, not a child care center :)
Tuesdays is my $100,000 club mastermind group with Las Vegas Realtors. 6 people discussing how we are getting our offers accepted in a multiple offer market here in Las Vegas. Below are several suggestions to stand out amongst many other offers received by seller's agent representing the bank.
Real Estate Professional with MBA in Business Management, BS in Industrial Engineering. I work with first time home buyers and first time investors to begin building wealth for you and your family.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
