Watch out, New Home Incentives will become limited real soon in Las Vegas, NV. Now that REO home listings have slowed we have been seeing short sales get multiple offers and the new home market pick up. The logic for buyers is "if I'm waiting 2-4 months to close a short sale why not buy new?" That's a pretty good way to look at it especially when the builder is throwing in great incentives like granite, upgraded cabinets, tile etc. In Summerlin over the weekend I visited a builder where this first week the community opened they already sold 18 of the 40 lots. It's becoming clear to the builders that with the increasing demand in the market place they may not have to offer such great incentives to sell their inventory.
So it's time to take advantage of such incentives because I believe come May 2012 they will start pulling them off the table. You will most likely still get your closing costs paid and maybe a modest incentive for options but not near enough to deck it out like you can now. I have already seen most builders raise their base prices over the past 3 months so if you are looking to buy new, best to get focused, get pre-approved and find a great Realtor.
Don't go into a new home community without your Realtor or register online. It's a threshold rule and if you do they expect you will be representing yourself in the transaction. Keep in mind in many cases a good Realtor can negotiate more than what the builder puts on the table and the "Builder's" agent is looking out for the builder's interest not yours. ; - )
Heather Etchings, Realtor
Licensed Realtor for 10 years and Local Resident for 19 years
702-277-7071
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