Las Vegas Housing Auction

Hello everyone! Today I just want to talk to you about what’s going on in this crazy market. Today I’m here at this house, I’m representing the buyer. We’re doing the final walkthrough, seller’s moving out. It’s exciting for this buyer. However, here’s a scenario that is going on. This buyer purchased this house for $425,000. Now, there’s another house right across the street. Same exact floor plan, same condition because these houses are all about 2 years old.

The same buyer wanted to purchase that other house as well, for investment and rent it out. And as I mentioned, this house here, we’re closing on it for $426,000. The new listing was listed for $435,000, where they just listed last Thursday for sale. My buyer, after I investigated and spoke with the listing agent on that other listing, submitted a cash offer for $450,000. Again, cash offer for $450,000, waiving the appraisal, and, he still didn’t get it. The crazy part. That house went up to $475,000. They accepted an offer for $475,000 and the buyer is also waiving appraisal. So, this is what’s going on. Houses under escrow, it already went up $50,000. This market is going to continue going up very aggressively. If you have any questions about buying or selling, give us a call.