Real estate has taken a huge in in Las Vegas over the last few years. Houses that were bought for hundreds of thousands of dollars are worth only half of that now. However, If you are one of the lucky ones who bought your house before the ‘big boom’ then selling your house in Vegas is a good idea. Also, housing prices are on the rise in Vegas so selling your house while you can is something you should consider.
There are some considerations though. If you bought your house at the top of the market you might want to hold onto your home until prices come back up. Experts agree that this is happening now, but will take a few years to get back to where they once were.
If you bought at the top
On the other hand, if you bought your house at the top of the market and your interest rate has risen to the point where you can’t afford it anymore, than you might also want to consider selling your home. You could do a short sale if owe more on your house than what it is worth.
Short sale advice
A short sale is a good idea to for those upside down in their homes. However, thee are some things to consider. Make sure you have a great real estate agent. Do not try to do this o your own. A real estate agent will know the laws and how to work with the banks. Working with the bank is one of the most important aspects of selling your home in a short sale. The banks have to agree on a selling price and it is important to get legal advice so that you do not end up with a huge bill at some point in the future. Right now there are laws that will protect you against this.
All in all, selling your home in Vegas right now is not a bad idea if you can work with a real estate agent and end up saving yourself some money on your home in the long run.
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