There are a lot of opinions floating around about the Las Vegas real estate market as it relates to the short and long-term effects of the COVID-19 pandemic. The most important thing to remember is that everyone is entitled to their opinion, so be sure to check fact vs. opinion as you navigate these unprecedented waters.
If you have been watching the news, I am sure you might be asking yourself one of the following questions:
How’s the real estate market?
GOOD! We saw a slow down in activity from buyers and sellers during the initial few weeks of the Las Vegas shutdown, but we have steadily grown since then and continue to see buyers and sellers actively participating in the current market.
Is now a good time to buy?
That depends on your goals…
If you are a first time home buyer and are still employed or plan to return to work in the coming weeks/month, YES! If you are employed, YES! There are a lot of really great loan programs, downpayment assistance programs, and grants available depending on the lender that you choose to work with. We are also seeing low interest rates which will allow you to purchase more for your money! Rates change daily and the Cerrone Group agents are not licensed to discuss rates. We will you partner with a mortgage loan officer who will lock the rate when it reaches a level that works best for your situation.
If you are looking for a huge discount on a home, NO. The market is strong and we are not seeing huge price reductions on home prices. We are down slightly since March, but are up year over year in number of homes sold and listed for sale in the month of April.
Is now a good time to sell my home?
This will depend on your situation, how much you owe on your mortgage, whether you are currently furloughing your payments, and your goals. We are seeing an increases in the number of homes being sold and many sellers are receiving multiple offers to choose from.
We are offering a FREE HOME VALUE ASSESSMENT REPORT to anyone who would like to discuss the possibility of selling your home. Just click the button at the bottom or top of this page and our team will be in touch within 24 hours to discuss your goals and plans.
The Cerrone Group is comprised of ten incredible real estate professionals in Las Vegas who genuinely care about sharing facts and good information with our clients to help them make the best decision for their situation. We are lucky to be able to meet so many people from around the world who want to make Las Vegas their home and we take it very seriously. It would be our honor and pleasure to help you with your home buying or selling plans!