79°F
weather icon Clear

Five tricks to sell a home faster in Las Vegas

The Las Vegas housing market is shifting, and buyers are more in control than ever.

Over the past 100-plus days, Opendoor worked with hundreds of buyers in Las Vegas to gain insights about what they want, so homeowners can have data points to help them sell their homes in record time.

Here’s what the data suggest will help a home sell faster in Las Vegas:

1. Optimize open houses: Homebuyers value flexibility. Our data show that over the past 90 days, the peak time for home visits in Las Vegas was noon to 4 p.m. Thursday drew the least foot traffic from potential buyers; Saturday and Sunday drew the most.

2. Timing is everything: It’s no secret that the most popular time to sell a home is in the spring and summer. Nationally, 60 percent of homes trade hands between May and August. People who want to sell quickly, but have a little wiggle room, should consider putting their homes on the market in June. Opendoor saw the greatest amount of buyers for 2018 last June.

3. Price accurately: It may be tempting for home sellers to list their homes for an overly ambitious asking price. But the longer a house stays on the market, the more the home sellers’ move will be delayed and the more they’ll need to compromise on price. The average days on market for a home in Las Vegas is now 77, which would add nearly three months to a home seller’s timeline.

4. Cosmetic fixes are key: Don’t underestimate the power of a coat of paint. Opendoor sells hundreds of homes a month and sees stronger interest in homes with new paint, carpet and appliances. Investing in a deep clean, lawn care and fresh, neutral-colored paint are easy fixes to get a home up to the standard of today’s buyers. Hiring local tradespeople for painting and lawn care, or even a TaskRabbit to help declutter, can quickly boost a home’s sales appeal.

5. Know why buyers are moving: In 2018, the top reason Opendoor customers moved was because they were changing home size, either upsizing into a larger home or downsizing to something smaller. Less than 10 percent of home sellers were moving because of retirement or because they needed the cash equity in their home. Understanding where buyers’ motivations lie, and why they want to move, can help sellers better gauge their home’s marketability and target the right buyers.

Ana Usma is a portfolio manager at Opendoor. Usma is responsible for creating purchase offers for sellers who are interested in selling their single-family residence to Opendoor.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Tanager in Downtown Summerlin welcomes first residents

Las Vegas native Roberto Orellana has lived in Summerlin nearly all his life. A graduate of Bishop Gorman High School who left Nevada briefly to attend San Diego State University, the 26-year-old is now a business development executive for Aristocrat Technologies Inc., a global gaming giant that also calls the master-planned community home.

Room to grow at Cirrus

These young ladies joined their fathers, James and Justin, both employees of Pardee Homes, for the grand opening Aug. 10 of the builder’s Cirrus neighborhood. All three girls appear perfectly at home in the playhouse in the backyard of the Plan Two model.

REAL ESTATE ON THE MOVE

■ Blue Heron, a design/build firm led by founder and Las Vegas native Tyler Jones, has announced that Ryan Thompson has joined the company as chief marketing officer. Thompson will be an integral part to the growth strategy for the company, overseeing the evolution of the Blue Heron brand, strategic vision, marketing strategy and media across all platforms.

Toll Brothers’ Concord at Cadence to celebrate grand opening

Toll Brothers has announce the opening of its newest model homes at Concord at Cadence in Henderson. The professionally decorated models will open for tours during the grand opening event Aug. 17 from 11 a.m.-2 p.m.

Luxury awaits at One Las Vegas

Located on the South Strip, minutes from the developing Raiders football stadium; the bustling T-Mobile Arena; world-class shopping and dining on the Strip; and nearby Town Square, One Las Vegas, the iconic twin-tower high-rise, is showcasing its White Throne Mountain floor plan — residence No. 622.

Summerlin awards college scholarships to students

The Summerlin Children’s Forum, a nonprofit organization established in 1997 by leaders of the Summerlin master-planned community and its developer, The Howard Hughes Corp., recently awarded college scholarships to three outstanding recent high school graduates who are residents of the community.

Teams form for Candlelighters Superhero 5K

If anyone needs a superhero on their side, it’s children battling cancer and their families. They’re not only dealing with the disease’s physical effects but also with treatment, emotional impact, financial considerations and potential out-of-state travel. The biggest hero to these vulnerable kids and families is the Candlelighters Childhood Cancer Foundation of Nevada, which provides support in all these areas.

Skye Canyon to unveil five model homes

Food, fun and prizes are in store as Skye Canyon unveils five appointed models at the First Look: Northglenn and Madera by Century Communities.