Nevada Builder Trade In Program focuses on contingency sales

The current Las Vegas real estate market has been deemed a “seller’s market.” What does this mean? The supply of homes for sale is limited, meaning that potential homebuyers may face challenges in finding a home that they can afford.

Current homeowners who wish to buy a brand-new home from a builder face the challenge of finding and buying a home under construction on contingency while selling their current residence. Robin and Robert Smith of the Smith Team at Keller Williams Las Vegas help homeowners do just that through the multifaceted Nevada Builder Trade In Program.

“The Nevada Builder Trade In Program is two-fold: We help homeowners find a brand-new home that meets their individual needs from the 50-plus neighborhoods under construction from a builder-partner, and we help them buy it while selling their current home at the same time,” Robin Smith said.

“In 2017, we received a lot of inquiries from homeowners in this situation, and we helped 140 of them successfully buy a brand-new home on contingency and have dozens more in various stages of the process right now. We noticed in 2017 a brisk pace in home sales with increases in sales prices, which can impact homeowners wanting to both sell and buy a home in our increasingly competitive market while home prices and mortgage rates are still reasonable.”

According to a report released by the Greater Las Vegas Association of Realtors earlier this month, 46,598 total local properties sold during 2017 through the Multiple Listing Service, the third best sales on record. That figure exceeded 2016’s 41,720 sales mark.

According to the report, the median price for existing local single-family homes sold through the MLS increased 14 percent to $267,900 in 2017, and the median price of local condos and town homes increased 26.5 percent to $143,000 in 2017.

“In a market like this, it is important for sellers to work with an experienced Realtor who truly understands where it is going, because your goal should be to sell your home for the highest price possible. There is no reason to shortchange yourself, but you also need to be realistic about how much your home can sell and appraise for so that it is listed correctly,” Robin Smith said.

“My brother, Robert, and I have decades of experience in Las Vegas real estate and rely on this experience when helping you determine a realistic sales price, which in turn may influence how much you can spend on your brand-new home.”

Through the Nevada Builder Trade In Program, the Smith Team provides a complimentary comparative market analysis — a projection of what the home may sell for based on recent sales of nearby comparable homes — and an assessment of which repairs and/or updates can be done to potentially increase the sales price.

If a homeowner selects the program, the Smith Team will list, market and sell the client’s current home at a reduced commission while offering the buyers’ agent the standard 3 percent commission. The Smith Team also will help arrange for moving services or help locate a temporary rental, if needed, between the sale of the current home and the completion of the new home. The Smiths work with their client and the homebuilder as a liaison throughout the process because of the nature of a contingency purchase.

Some homeowners contact the Smith Team directly at 702-460-5080 or ISellLasVegas.com, while others are referred to the Nevada Builder Trade In Program by the sales offices of the more than 50 neighborhoods constructed by builder-partners Beazer Homes, CalAtlantic Homes, Century Communities, Pulte Homes, Woodside Homes and Sun City Mesquite by Del Webb.

“The home designs constructed by our builder-partners run the gamut from single- to three-story residences to smaller homes perfect for downsizing to luxurious, grandiose homes in golf-course communities. There’s something for everybody,” Robin Smith said. “The Nevada Builder Trade In Program is here to help you find a brand-new home that meets your needs in your ideal neighborhood, arrange a contingency purchase with the builder and sell your home for top dollar. We handle all of these details so you can focus on moving into your brand-new home.”