In this edition of the Las Vegas Real Estate Now Radio Show, your host Harvey Blankfeld is joined by experienced Las Vegas realtor Leticia “Tish” Gonzales, who shares her expert advice on a few issues, including the so-called Golden Rule of buying real estate, the advantages of standing inventory, and which builder options you should go with.
One of the critical differences between buying a new Las Vegas home, and a resale house, is that the new home comes with a one year warranty from the actual builder. This then entails more professional customer service from an actual customer service representative and can be a definite advantage.
Buying from the builder can have other advantages too, especially if we’re talking about ‘standing inventory’, which is actually something of a golden phrase among realtors and potential home buyers. Basically, standing inventory is a case of when a house is built and the original buyer either can’t or doesn’t want to purchase it anymore. At this point, the builder will typically want to unload the excess Las Vegas home off their books as fast as possible; to this end, they will often offer incentives, such as lower interest rates or free options upgrades, which is of course a great thing for home buyers.
Even in the promising case of a standing inventory home, though, you will still want to have your realtor with you, Tish reminds us. In fact, to her, the golden rule of real estate is to always have your realtor with you when first visiting a home. There are no downsides to bringing your real estate agent with you (it won’t cost any more money) and countless advantages when seeing a home for the first time. To start with, a realtor will know all the right questions to ask the seller in any home sale Las Vegas deal, including those which you haven’t thought off. The realtor will be able to firmly negotiate with the seller and get the best price possible as well. Harvey points out how as a realtor, he’s unafraid to be the bad guy and reveal any defects or issues that enthusiastic homebuyers can easily overlook.
Tish Gonzales has some more great advice to home buyers, including for them to think carefully about builder options, especially those that will cost you more after you move in, such as something substantial related to the plumbing or concrete walls. In some cases, though, Tish does recommend that Vegas home buyers do not pick all the options. The flooring, in particular, is one that home owners can upgrade themselves, after the purchase has gone through, for a significantly cheaper overall cost.
Tish and Harvey end their discussion with talk of how traditional sales are making up a much larger percentage of home purchases in Las Vegas today. Traditional in this sense refers to buyers who actually plan to move into and live in the home they buy, rather than real estate speculators who are merely purchasing the home for investment purposes. According to Harvey, traditional sales now make up a majority of home sales by his real estate group, around 55%, whereas the percentage of traditional sales was as low as 19% three or four years ago.
As always, please be sure to tune in each and EVERY Saturday at 11 AM to RERNLV on AM720 KDWN.