Do You Change Strategies For Buying Homes in Different Parts of the Vegas Valley Area in NV?

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Is there a different strategy when you’re buying a home in different parts of the Las Vegas Valley which comprises, Las Vegas, Henderson and Boulder city?

Maybe. But what do you mean by that?

Well, so it’s not about the different parts of Vegas. What it actually boils down to is, what is the hotness of the different areas? There’s actually a hotness ratio that is a statistic that shows how hot a submarket in a larger market like Las Vegas is. For example, right now, If you’re looking to buy a home price between $250 and 500,000, there’s a very, very high hotness ratios going. They go very quickly, so I imagine your strategy which is acting fast. You have to act fast, be aggressive, and make sure that you know the terms that the sellers want in the contract and you adhere to them.

What about different price points? So if you’re looking at luxury, and luxury in Vegas is really anything north of $1,000,000. Those homes are selling much slower.

So what does that mean?

Well, you can absolutely employ a different strategy. You can go in. You can spend more time making like better assessments and maybe negotiate a much better price. But like I said, that totally determines on the hotness of that sub market. And sometimes when the market shifts, you have to shift your strategy. So really, the best thing to do is consult with somebody you know, a professional and figure out what the circumstance and what makes sense. What strategy makes sense for your circumstance, because the last thing that you want is to be able to walk into a home and fall in love with it. It’s your dream home and not actually secure the contract on it, and lose that home to somebody else because you had a weak strategy going out.