Las Vegas Home Values are Increasing! Will you have an Appraisal Issue?
Las Vegas Home Values are Increasing, What does this mean for you?
The real estate market is moving so well, we are pushing the
ceiling of value right now, unfortunately that means we may have some appraisal challenges. The great news is we are here to represent you and help your home
overcome these challenges. Last month my team, alone, saw 3 transactions where
the home value came in under contract price. $40,000-$60,000-$80,000 values lower
than purchase price, means we get to settle for the lower price, or challenge the
appraisal. We are challenging the appraisal and asking for an appraisal reconsideration. We are even filing complaints
against appraisers. When a property comes in undervalue at a mere $5,000 under
contract, it’s often a mistake or appraiser ego getting in the way. Our job is
to sort through it and yield you the highest return possible when you sell your Las Vegas Home.
The Greater Las Vegas Association of Realtors “reported the median price of homes sold through its Multiple Listing Service during June was $220,000, up 10.1 percent from $199,900 one year ago. Meanwhile, the median price of local condominiums and townhomes, including high-rise condos, sold in June was $115,000. That was up 5.5 percent from $109,000 one year ago.” Appraisers just don’t seem to get it. We are seeing issues because buyers are willing to pay what the contract says, while an appraiser doesn’t want to value the home for the current market. The increase in value is great news for home owners looking to sell their Las Vegas home, as the market is appreciating at a healthy rate. Compared to June 2014, 14.2 percent more homes and 6.3 percent more condos and townhomes sold this June. There are fewer homes on the market than what is considered a balanced market, available homes in Las Vegas “for the month of June was 13,740, down 0.7 percent from one year ago.”
“Compared to one year
ago, total sales volumes in June were up 23.5 percent for homes and up 13.2
percent for condos.” With average days on market at approximately 60 days,
inventory is moving quickly. It’s a great time to list and sell your Las Vegas,
North Las Vegas, Centennial Hills, or Summerlin home.
Are you interested in
learning what you Las Vegas home is worth? Let us know how we can assist you,
we will come out to the house and provide you with a FREE Comparative Market Analysis when you are interested in selling your home.
Our job is to get maximum value for your home
when you are ready to sell. Dave
Radcliffe ranked number 1 in 2014 as the top producing individual out of 172
Realtor-Agents in his office. Dave and his team continue to rank in the Top
5 producing teams month after month in 2015 at Keller Williams Realty Southwest
Las Vegas because he is all about customer service and utilizing the best
resources in the real estate business. The Radcliffe Group is your Las Vegas, Summerlin,
Centennial
Hills, and North
Las Vegas real estate connection.
As a retired police officer, Dave is passionate
about giving back to the service community and dedicates much of his time
giving and supporting the Las Vegas Metro Police Department, Firefighters and Military
at Nellis Air Force Base. Military, Fire and Law enforcement
never pay a full commission when they work with the Radcliffe Group. The Radcliffe Group can assist
you in your Las Vegas PCS or relocation, New Home Construction purchase, Condo
and Luxury Home
purchase. Specializing in helping Las Vegas and North Las Vegas homeowners
sell their home for the highest market value, Dave and his team will help
you yield your highest profit. Call 702-379-3401 when it is time to sell your
Las Vegas, Summerlin,
Centennial
Hills or North
Las Vegas Home.
Check out and subscribe
to our YouTube Channel and follow our Las Vegas Real Estate Blog at: www.DaveRadcliffeVegas.com
Written
by Nickel Lowman
Content
quoted from Greater Las Vegas Association of Realtors
For
Dave Radcliffe, The Radcliffe Group
Keller
Williams Realty Southwest
702-379-3401
