Nevada Builder Trade In helps you to sell and buy homes
Surging home prices have made it a good time to sell a home. But is it a good time to buy?
The answer is “yes,” according to Robin Smith of Smith Team at Keller Williams Las Vegas and operator of the Nevada Builder Trade In Program, which helps homeowners sell and a new home from Southern Nevada homebuilders at the same time.
“Anyone looking at homes for sale quickly notice that the prices are higher than in past years and that homes do not stay on the market for long due to buyer demand and lack of inventory,” Smith said, while citing July 2018 Greater Las Vegas Association of Realtor statistics that show a $290,000 median sale price for existing single-family homes sold through its Multiple Listing Service, an 11.5 percent increase when compared to July 2017, and 89 percent of these homes selling within 60 days.
“For homeowners who have wanted to move into a brand-new dream home — to upgrade or to downsize in style — this is a great time to sell your home at that higher price and reinvest in the new home that you’ve always wanted. Our Nevada Builder Trade In Program has helped hundreds of homeowners throughout the valley do just that by helping them purchase a brand-new home on contingency with builder partners contingent on the sale of their existing home.”
Smith explains that housing is relatively affordable in the valley even with the higher sales prices because of interest rates and rising incomes. She refers to the mid-August 30-year, fixed-rate mortgage interest rates that were reported around 4.6 percent by Freddie Mac and hovered near 4.7 percent according to Mortgage News Digest.
“The increase in home prices, sales and new construction permits all point to a strong real estate market. Some people may be reluctant to jump into buying a brand-new home at today’s prices because prices have fluctuated in the past, but I don’t think we’re in another housing bubble like we had 12 years ago because things are different now,” Smith said.
“Even though our July median single-home sales price through the MLS was $290,000, it is lower than the $315,000 peak in 2006. Mortgage credit and underwriting standards have changed, which makes sure that those who receive mortgages can actually afford it. Jobs are being created here, not lost. This all pushes our housing market to the level that we are at and will sustain it.”
Homeowners, who have seriously thought about purchasing a newly constructed home but are uncertain, can learn about their options by contacting the Smith Team and the Nevada Builder Trade In Program at 702-460-5080 or visiting ISellLasVegas.com.
After contacting the Nevada Builder Trade In Program, which is operated by Robin Smith and her brother Robert Smith locally, and mirrors Keller Williams’ international program, prospective clients meet with the Smith Team in the home they wish to sell. During this complimentary meeting, the Smith Team assesses the home’s condition and features and provides an estimated price for which the home may sale based on a comparative market analysis of recently sold, comparable homes in nearby neighborhoods.
The Smith Team also offers advice on minor repairs that could potentially increase the sales price.
“After understanding the realistic price for which you may be able to sell your home, you can figure out how much you can afford on your new home and find that home,” Smith said. “We can help you narrow down your options before visiting model homes, or we can help you negotiate the contingency purchase for a specific home that you’ve fallen in love with.”
The program helps homeowners purchase a home at 50-plus neighborhoods throughout the valley that are constructed by Beazer Homes, Century Communities, Pulte Homes, Woodside Homes and Sun City Mesquite by Del Webb.
After the new home is selected and the contingency agreement is accepted by the builder, the Smith Team lists and sells the current home at a reduced commission, while offering the buyer’s agent the standard 3 percent commission.
After the sale, the Smith Team helps arrange moving services or helps locate a temporary rental, if needed, between the sale of the current home and the completion of the new home.
Homeowners interested in purchasing a home on contingency at a non-builder-partner neighborhood and receive similar program benefits should contact the Smith Team before beginning their home search.
