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We all know this is a Buyer’s Market.

If you have a house which you’re trying to sell, this doesn’t mean that you shouldn’t sell it; it just means that you have to be realistic about what you can get for it. You’re not going to get what you think it’s worth. It’s your house and you love it, but your potential buyer has too much choice in available Las Vegas real estate.

If you don’t have to sell right now, why are you even trying? If you don’t have to sell immediately, why not take your house off the market, and help all those poor people who really do have to sell right now? When the perception is that the inventory is disappearing, then the market will turn. But while the perception is that there’s masses of inventory and that there’s going to be more and more of it coming on the market every month, and buyers are still sitting on the fence hoping the prices are going to go down further (which, probably, they’re not), the real estate market stagnates, which is bad for everyone, especially you as a seller!

The high volume of foreclosures at present has given buyers negotiating power that they didn’t have before. So, if you’re a seller, you have to get real and recognize that you’re competing with foreclosures. If you can’t sell your house at the same price as the foreclosures in your area, then (unless your house is truly unique and you can find that one buyer who falls totally in love with it) you’re not going to sell right now, because everyone who wants to buy in your area will be going for the foreclosure prices.

Prices can’t go down and stay down below what it actually costs to build the house (which is a lot more today than it was just a few years ago). So it’s obvious that pretty soon the prices will be going up again. If you don’t have to sell, we suggest taking your house off the market, finding something creative to do with it, and waiting a few months.