How is the real estate rental market in LV and Henderson? (new home, neighborhood)

airics · 05-30-2018, 10:52 AM

Quote:

Originally Posted by Hughie

The real estate troll on this site wanted to list your place at $310? And you sold in one day for $384? Good decision.

No. I did not use or interview who you called the troll. And furthermore, that troll has contributed so much to this board. So sorry Charlie, you’re wrong again

lvmensch · 05-30-2018, 11:12 AM

Likely to be a difficult appraisal. Highest price per sf in that neighborhood in 10 years. The model in general is clustered on or below average. I would have said it would not fly on a VA or FHA but there is a shot on a conventional or the buyer may agree to pick up any slack with cash.

On a conventional the appraisers will sometimes give a little more for pools and travertine.

lvmensch · 05-30-2018, 11:21 AM

Just represented a buyer in a potential transaction with Redfin. They did not do well. Nice house with multiple offers. Had a heavy cash buyer with a two week close. Redfin was not available on the phone on the weekend and went to contract two hours before we could get our bid in. Likely cost the seller 5 or 10K.
The system they use is simply not responsive and there is no person in charge. Their listing agent for instance does no weekend business.

Probably works adequately in the present booming market. Likely to be bad in a buyers market.

SportyandMisty · 05-30-2018, 11:37 AM

Quote:

Originally Posted by SoHoVe

I'm curious is Phoenix also getting a huge influx of people from CA?

CA? How about NY?

airics · 05-30-2018, 11:41 AM

Quote:

Originally Posted by lvmensch

Likely to be a difficult appraisal. Highest price per sf in that neighborhood in 10 years. The model in general is clustered on or below average. I would have said it would not fly on a VA or FHA but there is a shot on a conventional or the buyer may agree to pick up any slack with cash.

On a conventional the appraisers will sometimes give a little more for pools and travertine.

It’s conventional loan.

They were available on weekends no issues

We were going back and forth sat sun and Memorial Day

My house is the 2nd highest in the development

SportyandMisty · 05-30-2018, 11:48 AM

One of the fundamental lessons of economics is that the party that pays the commission (the seller) is different from the party that ultimately bears the burden of that commission.

In a seller's market, most of the economic burden of the commission falls on the shoulders of the buyer -- that is, prices are raised to include most of the commission burden.

In a buyer's market, most of the economic burden of the commission falls on the shoulders of the seller -- that is, the price cannot be raised any more.

lvmensch · 05-30-2018, 12:22 PM

Quote:

Originally Posted by airics

It’s conventional loan.

They were available on weekends no issues

We were going back and forth sat sun and Memorial Day

My house is the 2nd highest in the development

For our buyer that was not true...3 phone calls and a text message were never returned. The result was they never picked up what was a very competitive offer.

Per SF yours is the most expensive in the last 10 years. By around $15 per SF. Send me a DM with a direct email and I will send you the graph.

JonathanLB · 06-01-2018, 08:49 PM

Yeah I'm nervous about the Redfin option, it sounds good in a way, but when I go to sell my house I need the seller to do a good job explaining why the buyer is going to have to pay a lot more than they expect to get THIS house instead of the one across the street. I don't know if Redfin is equipped for that. I put $28,000 into a top of the line HVAC system, $14,000 into solar panels, $8,000 into soundproof windows, and other things the buyer may not care as much about are still nice bonuses like the garage is actually painted unlike the other neighborhood houses, the brand new hot tub comes with the place, the black out drapes are top quality, lots of small upgrades throughout. I never expect to get back everything I put in, but I'm not going to sell the house for the same price per square foot as some bare bones pile of crap across the street. I'd rather sit on the home for 6 months than do that, frankly. I'm not in a hurry. I know the right buyer is out there just like me who expects the best and will pay for it.

I feel like Redfin would be better to sell a pretty basic house with no improvements where the price is pretty self-evident.

airics · 06-01-2018, 10:36 PM

Quote:

Originally Posted by Hughie

The real estate troll on this site wanted to list your place at $310? And you sold in one day for $384? Good decision.

sorry, different agent.. had nothing to do with the agent on this board.... I used Redfin. I interviewed Redfin and Berkshire Hathaway.

airics · 06-01-2018, 10:40 PM

Quote:

Originally Posted by JonathanLB

Yeah I'm nervous about the Redfin option, it sounds good in a way, but when I go to sell my house I need the seller to do a good job explaining why the buyer is going to have to pay a lot more than they expect to get THIS house instead of the one across the street. I don't know if Redfin is equipped for that. I put $28,000 into a top of the line HVAC system, $14,000 into solar panels, $8,000 into soundproof windows, and other things the buyer may not care as much about are still nice bonuses like the garage is actually painted unlike the other neighborhood houses, the brand new hot tub comes with the place, the black out drapes are top quality, lots of small upgrades throughout. I never expect to get back everything I put in, but I'm not going to sell the house for the same price per square foot as some bare bones pile of crap across the street. I'd rather sit on the home for 6 months than do that, frankly. I'm not in a hurry. I know the right buyer is out there just like me who expects the best and will pay for it.

I feel like Redfin would be better to sell a pretty basic house with no improvements where the price is pretty self-evident.

the money you put in won't matter to any agent or company in my opinion. the solar panels will be a turnoff unless you own them... if its leased, you will end up buying..

I don't have a basic house. The pool sold the house, no questions asked.... The backyard itself sold the house.... The mountain views sold the house... The strip view sold the house.... The 40k spent on travertine (by previous owner), sold the house.... The fireplace and balcony from the master looking the mountains sold the house..

I also did window tint, extra insulation, sun screens, etc.. but that was to benefit me...

also... if you have this so called very expensive home, you may be in trouble if its in Vegas.. Homes over 500k sit... My neighbor just bought a 4500sf amazing house completely redone in the scotch 80s for 520. listing price was 625.