Will home prices increase this Spring?

  The market in 2020 and the early part of 2021 has been kind of crazy. There are a lot of things that go into that from low interest rates and low inventory and even a low number of homes being built around the area. Because of this, the prices in many areas jumped 10% or more, giving sellers a good incentive to sell and left buyers looking around for a new place to call home. But will this trend continue? Many believe that the wild price growth that was found in 2020 is going to slow down. This will come about for several factors. First, because sellers see how much the market has grown and changed, they may decide it is time to sell and take advantage of it. This will bring more homes to the market, giving buyers a chance to make purchases rather than waiting around for the perfect home. Another thing that may change is the price of building supplies. In 2020 and early 2021, the price of lumber and building materials was high. This made it unaffordable for many to build a home,

Is now a good time to buy in Las Vegas

With the rising prices of homes in Las Vegas and how quickly they are selling. Most struggle to decide if now is the right time to purchase a home in Las Vegas. This will really depend on your unique situation and what you hope to gain. There are some benefits to doing this, such as low interest rates that can make purchasing a new home a lot more affordable, but it is also really hard to get a home because inventory is so low. Some things to consider when buying a home in Las Vegas includes: How Much Can I Afford? Before you look at any homes, take a look at how much you are able to afford. Do not wait until after you look through a home and decide you like it to get the prequalification letter. The home is likely to be all gone. And you only get one chance to do an offer so you need it in hand and ready to go. This will help you know more about the interest rate that you will get and what type of home you can get. Low Inventory One issue that buyers are dealing with right now

Is now a good time to sell my home in Las Vegas?

  If you have paid any attention to the market and what is going on around you, you may hear that the market is really hot for sellers. Many homes are selling within a matter of days, and often for higher than asking price. For someone who is considering moving for one reason or another, you may be curious whether now is a good time to sell your home in Las Vegas. This makes it the perfect time for you to decide to sell your home. There are a few factors that make right now the perfect time to sell your home in Las Vegas. These include: Low Interest Rates Due to the pandemic, interest rates have gone very low. This has helped to make the cost of purchasing a new home a lot more affordable, bringing more buyers into the market. When interest rates were between 4 to 5 percent or higher, that added several hundred dollars to the monthly cost of the home. But when it dives to 3 percent or lower, that can make the same home more affordable. Many buyers are finding they can all of a su

Is Winter a Good Time to Buy or Sell My Home?

  Many people believe in selling homes in spring. Of course, that is when everything looks better, starting with the beautiful blooming flowers to the lovely weather. It is normally a time for the seller to show off what they have because even nature supports them! For the buyer, this is the time to check out as many houses as possible. With numerous sellers putting their properties in the market, it's not time to purchase yet until they are absolutely sure. But what about winter? With everything covered in ice, is there a soul out there trying to sell or buy a property? Is it worth the effort? Let's find out what you stand to gain if you decide to buy or sell your home during this chilly season. How Will You Benefit as The Buyer? Minimal competition It's true that winter has very few people selling homes. However, lesser people are also out to buy homes, which means less competition with fellow buyers. In other months like during spring, the competition is very stiff

Election Results and Its Effect on Las Vegas Real Estate

  President-elect Joe Biden proposed a few different polices that those looking to purchase real estate should be aware of, including those buying in Las Vegas. These policies could affect everyone, including those investing in real estate and people looking to purchase a home. Right now, the housing market in Las Vegas is on fire. The demand for housing is high, and the number of homes is tight. This makes it a seller's market, and the limited number of houses for sale is definitely a con at this point. A good realtor can help navigate the market, making it much easier to find the perfect place. One of Joe Biden's plans is he hopes to support first-time home buyers by initiating up to $15,000 in tax credits. He also wants down payment assistance for service workers. To help ease the burdens caused by the COVID 19 pandemic, Biden also hopes to give tax credits for renters. His plan also calls for increasing Section 8 vouchers. Down payment assistance and the proposed tax

Should I Buy a New Home or Resale Home?

  The question of whether you should buy a new house or a resale house depends on things like your lifestyle preferences and financing needs. You may prefer a resale home even though you are aware that it requires refurbishment. On the other hand, you may have your heart set on a new home however, there is a lack of newly built houses available in the location you had in mind. Both new homes and resale homes each have their own advantages and disadvantages. Knowing what these pros and cons are can make your purchase journey a whole lot easier. In this article, Top Tier Realty will provide you with the important info you need to make this big decision. Affordability Affordability is probably the most significant step that prospective buyers need to consider. First-time buyers looking to purchase a property typically prefer resale homes as they are much cheaper than newer houses, even though many people do not know about the other costs involved during the process of buying and tr

Is the Las Vegas Housing Market Immune to COVID-19?

  Months have passed since the onset of the global pandemic, "coronavirus," and the housing sector has felt the hit. The World Bank declared a global economic recession caused by the pandemic, and there were predictions of the economy shrinking by 5.2% on a worldwide scale. The impact of COVID-19 has affected almost every sector, with the housing market being the most affected. Las Vegas Housing Market is one of the top performers in the US, which is comprised of mostly single-family units. However, Las Vegas house prices have hit a record high despite the continuous economic harshness inflicted by the pandemic. Many realtors and home renters wonder how the real estate market will look like as the pandemic continues.  Top Tier Realty  will assist you in purchasing, renting, and selling your home . Our team of real estate agents in Las Vegas will offer great sources to have all your housing market questions answered. Las Vegas Housing Market During COVID-19 Despite man