BluefoxToday blog : Improvements & Getting Top Dollar to Sell Your Las Vegas Home!

Improvements & Getting Top Dollar to Sell Your Las Vegas Home!

Standard sellers consistently ask what updates they can do to sell their home.  My answer is Getting Top Dollar To Sell your Las Vegas Homeusually none.  They are shocked.

The reason for this is that we barely have inventory – yet prices are dropping.  Sometimes looking at closed comparables will show barely difference in price between a “fair” property to a “good” property to an “excellent” property.

Sellers who MUST sell in today’s distressed Las Vegas real estate environment are usually stuck between a rock and a hard place.    The keyword in that sentence was “must”.  No one sells a house in this environment for giggles.

The best return on your typical tract home is neutral paint – and that’s if you save some money & do it yourself.  If you could see the garbage that we (REALTORS® & Las Vegas Home Buyers) see, your expectations would be very low also.

There are VERY few well priced standard sales in our market.  Heck, there is very little “sellable” inventory in our market.  Most of the sellable inventory is distressed REO or trustee sale flips.  Your competing inventory is basically a short sale which have dismal closing percentages before going into foreclosure.

Marketing Your Las Vegas HomeWe see lots of deferred maintenance, missing systems and damage.  My best advice to you (unless your comparables show otherwise) is to slap on that neutral paint (if necessary), clean the carpets & de-clutter.   Make sure the home is easy to show at all times (again – your competition is VACANT property which is VERY easy to get in to!)  Also make sure it is priced and marketed well.  We are dealing with ANOTHER declining market at this moment in most areas so it isn’t wise to sink in thousands of dollars with a negative return on investment.

Tips to get Top Dollar on Your Las Vegas Homefree cma las vegas home seller

Complimentary Consultation for Pricing Your Las Vegas Home

Marketing Your Las Vegas Home

 All in all, you should exercise caution when throwing money in your home to sell it in the Las Vegas real estate market!

 


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comment balloon 14 commentsRenée Donohue • July 01 2011 11:31AM

Comments

Rene - this is an excellent post about what items should be considered to repair or remodel before they sell. Typically with major remodels (i.e. kitchens, bathrooms) should not be done to sell a home as the seller most likely see the investment.

I completely agree about neutral paint, clean and declutter. Take stuff down. Great post as always Renee.

I am sure your Las Vegas, NV home sellers appreciate this straight forward information.

Posted by Sharon Paxson, Newport Beach Real Estate - Arbor Real Estate (Arbor Real Estate) over 6 years ago

You are, without question, the one to call for all things Real Estate in the Las Vegas area, Renee.

Folks call Renee NOW if you're thinking about buying or selling a home in the Las Vegas area. Anything less and you're short changing yourself.

Posted by Craig Rutman, Raleigh, Cary, Apex area Realtor (Helping people in transition) over 6 years ago

Excellent advice!   I agree with Craig...you're the one to call!

Posted by Li Read, Caring expertise...knowledge for you! (Sea to Sky Premier Properties (Salt Spring)) over 6 years ago

Sharon - great point about depersonalization!

Craig:  Quit making me blush ;)

Sea to Sky:  Thanks for the stop!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 6 years ago

Very good post.  In general repairs will not bring the price up so much as they will keep it from going down.  At least get it in good enough shape for FHA financing.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) over 6 years ago

Renee, that's great advice for anyone trying to sell their homes in this market.  Tough competition as you well pointed out.  Happy 4th!

Posted by Erika Rogers, St George Utah Real Estate & local info. (Red Rock Real Estate) over 6 years ago

As you write, the inventory of vacant properties compared to the owner occupied is a little sliver of light to those home owners.  Make sure it's clean and de-cluttered, and it will outshine the vacants!!

And I'm telling you . . . if I was at the "retirement" age and lived in the Pacific NW I would consider LAS VEGAS my snow bird paradise and I'd but a second home in a HEART BEAT!!!!  Of course there's Palm Springs, but that would be out of my price range.  I'd buy a home in Las Vegas -- we have direct flights from PDX -- and I'd snow bird it down in the winter!  Hey . . . the east coasters have FLORIDA.  We have VEGAS!! 

BUYERS take advantage of the FUN AND SUN in VEGAS.  Buy a reasonably priced second home, and ENJOY the weather!!

Posted by Carla Muss-Jacobs, Principal Broker (503) 810-7192, Buyer Focused ~ Buyer Results (BuyersAgentPortland.com | Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time) over 6 years ago

Renee - Sage advise from a true professional.  Having a good real estate agent can save you a lot of money.  This is one great example. I wonder how many "For Sale By Owner" folks unecessarily improved their properties because they didn't have an understanding of their local market and the guideance of a pro?  Nicely done Renee!

Posted by Nevin Williams, Raleigh Mortgage Pro (Sierra Pacific Mortgage Raleigh) over 6 years ago

Renee - sad but true.  Good, quality, well taken care of "regular" sales just aren't bringing in that much more money in our Arizona market, as well.  But, I like that you say to still paint and de-clutter.  This blog is further proof that you know the Las Vegas real estate market.  Great job, as always.

Posted by Juli Vosmik, Scottsdale/Cave Creek, AZ real estate 480-710-0739 (Dominion Fine Properties) over 6 years ago

Gene:  Most excellent point - thanks for bringing that up!

Erika:  Happy 4th to you too!

Carla:  Thanks for the reblog!

Nevin:  Wow I am honored by such a testimonial!

Juli:  As you know, we see the same things.  It would be throwing money away!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 6 years ago

Renee - Paint and declutter is pretty much my recommendation to standard sellers.  The days of getting a return on installing granite, gutting a bathroom or new flooring are long over.  I've seen totally upgraded homes sell for less than an ungraded homes.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 6 years ago

Michelle:  EXACTLY!  There is no rhyme or reason why the buyers are choosing certain homes or why they are paying what they are paying for them!  Thanks for stopping by!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 6 years ago

Renee - This advice makes a lot of sense in your market especially with comparable homes that are not in good condition.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) over 6 years ago

Renee,

Hopefully all the Vegas sellers read this and then follow your advice for best possible results for them. Good points.

Posted by Esko Kiuru over 6 years ago

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