Builder’s asking price for Las Vegas new homes for sale is not written in stone
More than 60% of Greater Las Vegas new homes for sale buyers buy a new house without any help from Realtors, which comes at no cost to them.
They are programmed to think that buying a new house is like buying a new car from a dealership while they are entering one of the most complicated real estate deals totally blind. They think that the builder’s asking price is written in stone and that the builder actually builds the house per contract specifications. They are wrong in both cases which we discuss in did the builder build the right house?
In order to get a good Las Vegas new home deal the buyer should take certain steps which we provide an overview for in this video:
1: Using the Las Vegas MLS to search for new homes listings
2: Visiting the new home builder’s project
3: Making offers on Las Vegas new homes for sale
Las Vegas new homes for sale buying guide
Success in buying Las Vegas new homes for sale doesn’t happen by accident
Greater Las Vegas new homes for sale buyers should be educated about the process of buying a new house in order to take advantage of good deals and more importantly avoid deadly mistakes that they may not even be aware of which we have discussed in a separate video did the Las Vegas new home builder build the right home?
We have also explained the large median sales price gap between new homes and similar pre-owned homes.
In this video we will discuss searching the MLS for Greater Las Vegas new homes for sale listings, visiting the builder’s office and making an offer on new houses.
Driving around and visiting builder’s projects, looking at new model homes and after picking one, having the builder’s sales staff write the purchase contract is the wrong way to go about getting a good deal.
The builder’s sales staff job is to protect and serve the builder, not the buyer. However, this is exactly what more than 60% of new home buyers do. They chose to forgo bargaining with the builder and even if they did, they lack the data to do so.
Let’s talk about using the Las Vegas MLS to search for new homes listings
To search for new houses please click the MLS advanced search. Under the search button you will find Built Description, click it and you will find new homes searches.
There are two other sub-categories, to be built means that the buyer picks a lot and orders a new home from scratch. Under construction means that another buyer has ordered the home, but had to drop out. These homes are sold at a significant discount. Buyers may have the choice of flooring or some upgrades.
Discount gained through buying these inventory homes turns into instant equity for buyers who buy the builder’s inventory homes. Use control-click to check more than one status.
In the new homes MLS you can find the listings, however, it doesn’t show the latest builder incentives or the all-important sold comps for these homes.
We have access to the above information which in turn we will provide to our clients. If you are serious about buying a new home, contact us.
Unfortunately, not all builders list their listings in the MLS. If you can’t you’re your desired house in the MLS please let us know and we will e-mail you listings from other sources.
Let’s talk about the visit to the new home builder’s project
The reason new home builders have a sales office on premises is that they want to meet the buyers on their own turf and their sales staff are trained to look out for the builder’s interest and not the buyer’s.
If you visit the builder’s office and register with them without prior registration by your Realtor or without a Realtor accompanying you, then the builder will not allow your Realtor to represent you in the transaction.
New home builders are forbidden by law to give a discount due to lack of Realtor participation, so doing so does not cost you any less and in fact, could end up costing you more.
Another issue is that new home builder’s model homes are built on the best lots, have tens of thousands of dollars in upgrades and do not resemble an average home. We always ask the sales staff to take our clients to see the less upgraded homes being currently built so they can see a realistic comparable house before they want to make an offer on a new home.
Let’s discuss making offers on Las Vegas new homes for sale
Keep in mind that there is no difference between making an offer on a resale home and new house. In both cases, the purchase price should be based on comparable sales that have sold in recent months while adjusting prices based on the market conditions. In both cases, the buyer should be able to bargain with the seller if the market allows it, even though some think the builder’s asking price is written in stone.
We have access to sold data for new houses in Las Vegas, Henderson and North Las Vegas which we provide to our clients. This along with the thorough understanding of the real estate market conditions and trends will enable us to bargain intelligently and achieve a good deal for the buyer.
Lastly, many Las Vegas new homes for sale communities are being built in areas that could be significantly influenced by the nearby commercial real estate construction. For example, the recent completion of Downtown Summerlin project has helped sales and home appreciation in the area. We know what is going on in the commercial real estate market and will advise our clients accordingly.
Like we said a great deal doesn’t happen by accident, Masoud is widely known as an authority on the Las Vegas real estate market and loves to bargain so we will make sure that you don’t overpay the builder.
If you are doing research, we have provided you with all the needed tools to conduct it, but if you want to buy in the immediate future, contact us and we will set you on the right course to success. You will be in good hands, guaranteed.
If you want to buy or invest in Las Vegas new homes or condos please call us at 800-762-4917.
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On behalf of The Saber Team, this is Karen Saberzadeh of Realty One Group and www.lasvegas4us.com wishing you a great day.