Here is what buyers received in seller paid concessions on June 2010 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:
- Less than $500: 69% ($500 only buys you a home warranty or (no and) an appraisal)
- Between $501-4000: 18%
- Over $4001: 13%
This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory! Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs!
Renee- Can you do my graphs for me? :) Love the look of those.
Renee, This is a great graphic to show clients when they are shopping...really put the facts in front of the clients so they know where the market stands. Nice!
Renee, this is exceptional information, both in content and presentation.
Renee - great report on concessions. When I think about my market here and we have an entry in our MLS for concessions, i'm still hesitating about its accuracy of reporting.
wow...what a change Renee! Same thing here. 3% to as much as 6% seller subsidy of buyers closing costs was the norm 18 months ago. Zero to $5k is what is happening now.
A little "Tighten Up" is going on in LV apparently. I'll have to add another monitor to gather the full effect Renee.
Renee - This is probably my favorite market report that you do, I love to see what Las Vegas NV seller's are contributing to the buyer's purchase if anything. A lot of my buyer's ask for closing costs, but almost all could pay their own if they had too.
Thanks for all of the love!
Michelle: it is my favorite market report also!
Kevin: You always crack me up with your constructive criticism!
Steve & Jan: Actually we are seeing concessions come back in style as inventory is beginning to gather dust from first time buyers getting what they wanted.
Petra: I do at times too.
Mary Kay: Thanks for the compliment!
Deborah: Thanks for the reblog!
Katerina: LOL, I said in another market report I should start doing these "for hire". Got the graphs just need the data ;)