Kelley explains fall sale discount prices

Q: I'm interested in hearing more about the fall housing sale I saw in the newspaper. What is this all about, and how can it help people like me sell a home here in Las Vegas? -- Rod R., Las Vegas

A: I'm glad you asked.

As you may have seen and heard, the Greater Las Vegas Association of Realtors has teamed up with the Las Vegas Review-Journal to organize and promote what we're calling the Fall Spectacular Sale.

The idea is pretty simple. We're trying to help local home buyers and sellers and to reduce the number of homes listed for sale in Southern Nevada.

Here's how it works: Through Oct. 26, participating local homeowners and Realtors will reduce prices by at least 5 percent on homes all over Southern Nevada. The GLVAR, the R-J and participating Realtors will work to promote these homes being offered at discounted prices.

To participate in the sale, sellers (or their Realtor) simply pay a $50 fee and agree to reduce their asking price by at least 5 percent during the sale. If the home doesn't sell, they can return to their original asking price after the sale concludes.

Look for ads explaining this sale in today's R-J and its sister publications, as well as in other local media outlets around Las Vegas. And look for the Fall Spectacular logo on yard signs to find out which homes are participating and being sold at a discount for this limited time.

The idea for this fall sale came primarily from GLVAR President-elect Sue Naumann, who heard about something similar working well for home buyers and sellers in Florida.

As of last week, she said the sale already included about 250 homes, in all price ranges and in all parts of town.

"This is a great incentive for homeowners who want to increase the odds of selling their home in today's market," Naumann said. "The sale is a great opportunity if you're buying or selling. To help get the word out, we're also encouraging local Realtors to hold open houses at these homes being listed for sale at discounted prices."

For more information, call 784-5069 or visit lasvegasrealtor.org, or contact a local Realtor.

Patty Kelley is the president of the Greater Las Vegas Association of Realtors and has worked in the real estate industry for more than 30 years. To ask Kelley a question, e-mail her at ask@glvar.org. For more information, visit lasvegasrealtor.com.