Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas NV Area Concession Stand October 2012 (includes Henderson & North Las Vegas)

Las Vegas NV Area Concession Stand October 2012 (includes Henderson & North Las Vegas)

Las Vegas Real Estate

Here is what buyers received in seller paid concessions on October 2012 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:

  • Less than $500: 84% ($500 only buys you a home warranty or (no and) an appraisal)
  • Between $501-4000: 10%
  • Over $4001: 6%

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!

Last Month's Concession Stand

Most Current Concession Stand

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.


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

 

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Comment balloon 14 commentsRenée Donohue~Home Photography • December 08 2012 09:27AM

Comments

I would think that cash buyers for the most part would rather have a lower price than to jack it up for concessions. It's not a free lunch, somebody has to pay it.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) about 7 years ago

Top Down economics Renee, nice to see that $4.,000 plus segment take the hit.  Getting better all the time!

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) about 7 years ago

In the past few years, agents have been told in NH not to disclose seller paid concessions because it is "confidential" information.  However, appraisers see to find out and they subtract the concessions when they are doing comps.  It is therefore, quite difficult of agents to get a handle on value.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) about 7 years ago
Interesting stats! Although our MLS has a field for seller concessions, it is optional and rarely filled in. My sense is that in the $250,000 and under price category, sellers frequently agree to about 3% concessions for buyer's closing costs (often excluding investors from that).
Posted by Nancy Conner, Olympia/Thurston County WA about 7 years ago

Renee,

I listed 7 in Oct and am closing 9 in Dec.  Yep I am struggling to get enough listings as well.  That is why I am ramping up the LISTINGS side and staying out in the field more.

Posted by Florida Tolbert Team Keller Williams Advantage, Keller Williams Land Division Specialist (Keller Williams Advantage III Realty in Lake Nona) about 7 years ago

Renee, without looking into my own market stats, those numbers seem to be about where our market it. Nice job.

Posted by Eric Michael, Metro Detroit Real Estate Professional 734.564.1519 (Remerica Integrity, Realtors®, Northville, MI) about 7 years ago

Renee

I think it's great that people are not asking too much in order to put deals together. I wanted to say I understand what you said about keeping it simple this year. Back to basics. Would you have time to chat sometime coming up. Hace some ideas for piutting my business into warp drive and wanted to share. I am definitely coming to Las Vegas in January and then again in February. Like the new profile picture.

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) about 7 years ago

Renee, in your Las Vegas real estate market with so little inventory, buyers need to be prepared not to ask for much.  Look at those stats. 

Posted by Juli Vosmik, Scottsdale/Cave Creek, AZ real estate 480-710-0739 (Dominion Fine Properties) about 7 years ago

Renee, what an impressive report and so informative for any seller and buyer in the Las Vegas market.

Posted by Christina Sanchez Hood, #SiliconValleyHOODS | Inspired Living about 7 years ago

I suspect that seller concessions are directly related to home owner/seller equity.  Concessions are paid out of net proceeds and if there are none. . . . .

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) about 7 years ago

Fewer and fewer seller concessions as the market begins it's gradual rise.  I suspect with the low interest rates and possible appraisal issues, it's best to forgo concessions.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 7 years ago

Hi Renee, you know it's a sellers market when sellers stop giving concessions. Buyers are lucky to get a paid home warranty.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA about 7 years ago

Thank you all for the comments!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) about 7 years ago

I have been seeing more and more seller concessions in the last year especially on high loan to vaule loans where the buyer has very little cash.  Great too to help sell a home.

Posted by Ira Bodenstein, NMLS#: 445143 (PNC Mortgage) about 7 years ago

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