What Are Your Options as an Upsizing or Downsizing Seller?

Are you a seller looking to upsize or downsize? Our market is not moving in your favor, but there are a couple options you can pursue to find the right home.

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Right now in our market, inventory is very low and buyer demand is very high. For sellers looking to upsize or downsize, there’s not much to choose from and homes are selling very fast. 

If you’re one of these sellers, what are your options?

Whichever option you should choose depends on your specific situation.

The first thing I recommend is determining if you can actually purchase a home before you sell your current home. This will alleviate the issue of having to sell your current house, move into something temporary, and wait several weeks or months until you can find something else to purchase. 

If you can’t do that, your other option is to put your house on the market, find a buyer to purchase it, and make the sale contingent upon the buyer allowing you to stay in the house and rent it back for however long you need. That way you can close on your house, it would free up your equity and your ability to obtain a new mortgage, and give you time after the close to shop for that new purchase. 

A recurrent theme of this topic is making contingent offers to purchase property, meaning that you make an offer to purchase a new property that’s contingent on selling your old property first. In our current market, this option isn’t very popular. It weakens your offer, and sellers would rather pursue offers that aren’t contingent on other properties selling. 

There are many options you can pursue, and which one you choose really depends on your specific circumstances and real estate goals. If you have any questions about our market or would like to talk about your situation, feel free to call, text, or email me. I’m happy to help.

How to Protect Your Home this Winter

The weather is getting colder in Las Vegas. We’ve got five tips to help your home stay protected this winter.

It’s getting colder in Las Vegas. Believe it or not, overnight lows are in the 30s already, and it feels like it was just summer a month ago. As the weather gets colder, we want you and your home to be protected from the elements. We’ve got five tips to share with you today that will help keep your home protected and safe, while hopefully cutting down on your energy bills.

1. Insulating all external pipes. Either wrap them with insulation or foam sleeves. You don’t want your pipes to crack or freeze. It can become a very expensive repair.

2. Change the direction of all your ceiling fans. It will increase the circulation of heat throughout your house so that it’s more comfortable during more of the day.

3. Check weather stripping on all exterior doors. If they aren’t sealed properly, they can create air gaps, causing your energy bills to go up.

4. Check all your carbon monoxide detectors. If you don’t have any, add them next to your air return vents. Carbon monoxide likes to settle down towards the bottom of your floors. A detector increases your safety and will keep you healthy.

5. Cut down on watering. Your lawn doesn’t need as much water in the winter, obviously. If you have automatic sprinklers, make sure they are turned off at night. They can make your sidewalk or driveway slippery in the morning when it’s cold enough.

Leaving your sprinklers on in the winter isn’t smart.

We hope you enjoyed this list. If you have any questions for us or are thinking about buying or selling a home sometime soon, give us a call or send us an email. We look forward to hearing from you.

Should You Try Selling Your Home During the Holidays?

Listing your home now means dealing with buyers who are more serious and not having as much competition from other home sellers. 

Is it a good idea to list your home during the holidays? In my opinion, yes it is.

One reason is that buyers that are out in the marketplace during this time are traditionally more serious about purchasing a property. They also have a lot more time to shop for homes with their families.

Another reason is that inventory is a lot lower during the holiday season. Once we enter November and roll into December, we usually see the number of new listings decline. This means you will have a substantially lower amount of competition to deal with. It’s also important to remember that homes show really well during the holidays. They’re decorated and well-maintained, which makes them extremely marketable.

Once we reach the new year and cross January 1st, the number of new listings here in Las Vegas jumps by 50%. Why not list your home now, get it sold, and let somebody else deal with that logjam? If you’re still not convinced, know that each year we have between 2,000 to 2,300 properties close in November and December, and another 2,000 to 2,300 go under contract. That’s a lot of buyers out there shopping this very moment.

Sell now before the competition spikes after New Year’s.

If you have any other questions on this topic or you have a topic you’d like so see me discuss in the near future, feel free to give me a call or send me an email. I look forward to hearing from you!