If youâ€™re packing up and leaving Vegas in the next few months or a year, this wonâ€™t apply to you, but youâ€™ll find it interesting. It might even tip the scales for you one way or another, as to whether youâ€™re packing it in on your big â€œliving in LasÂ Vegasâ€ adventure. Not all things work out the way we planned. Itâ€™s one of those bummer things that we all have to put up with, regardless of whoâ€™sÂ â€œfaultâ€ it is.Â
For the rest of youâ€¦.Here Goes:
Thereâ€™s a lot of very interesting, unique, fun andÂ hip homes out there in VeryVintageVegas land.
They have reasonable to fabulous landscaping. Theyâ€™re somewhere between clean and meticulously clean, and they donâ€™t look like a bad MLS Photo. Things that have been broken or worn out over the years have been fixed or replaced. The more fun, interesting and well preserved â€“ all the better. And most importantly, they werenâ€™t purchased any where near the top of the market, and they werenâ€™t cash-out re-financed in 2006, either.
VERYÂ FEWÂ of them are on the market at the moment. Most foreclosures donâ€™t get a passingÂ grade. I tend to spotÂ the Aâ€™s and the Bâ€™sÂ and often sell themÂ as quickly as they come to market. The condition of way too many of the foreclosures is much worse than most buyers are willing or preparedÂ to deal with. The subject at hand are the Aâ€™s and Bâ€™s. Â As I write this, most of the foreclosures get a C, D, or F.
Since the topic is -Â reasonably well maintained and decorated/landscaped homesÂ whoâ€™s owners havenâ€™t totally butchered them over the years.Â Â Iâ€™ll let you in onÂ some not so little secrets.
SECRETÂ NUMBER ONE:
Some of theÂ people who currently own them would be willing to sell them now or in the very near future. They just donâ€™t have a reason to sell now. But they would if they had a reason. Iâ€™m going to give them one in a minute.
If IÂ heard it on the news once, I heard it â€¦.., as they say. Iâ€™ve said it a thousand times as well. â€œIf you donâ€™t have to sell, donâ€™t be on the marketâ€. If you HAVE to be on the market, at least behave as if you are. EspeciallyÂ if youâ€™re aÂ short sale.
SECRET NUMBER TWO:
Thereâ€™s people out there like Garth and Mary. And Meghan and Erin & Rachel. Steven & Josh are on the list since just the other day. So is my brother Joe-Almost-Elvis. Some of you have met him, I believe. Soeren &Â Coni and Melissa and DeanÂ and Jake â€”as well as SusanÂ & Steve, and WellÂ & Yocelyn, and Dana & Marc and Nikki, and ScottÂ & Heidiâ€”Â were the â€œlistâ€ fromÂ the last few months.Â Â Every month thereâ€™s a batch of them.Â Please donâ€™t be upset if I skipped you. Trust me, youâ€™re on my list. During the last 6 months they BOUGHTÂ the best fit, most fun, most interesting, best potential home (at the best damn price they could squeeze out of the seller) that wasÂ on the market the day they decided to buy it.Â
All of them INSISTED on being in what I call VeryVintageVegas. And most importantly, each of them essentially had declared â€œThis is the bottom of the real estate slide AS FAR AS Iâ€™M CONCERNED. I want to own nowâ€. Oh, and theyâ€™re not concerned in the leastÂ if they were right or wrong about being the ONE person in America who bought at the bottom. There can be only one! Weâ€™ll let you know in a fewÂ years who the winner was. Ahhhh, the great American real estate lottery.
SECRET NUMBER THREE:
Thereâ€™s a whole lot of people just like theÂ new homeownersÂ in Secret Number 2. Except that they havenâ€™t bought YET. Iâ€™ve been talking to many hundreds of them over the last two yearsÂ since I started this VeryVintageVegas marketing campaign. (Note: VeryVintageVegas is almostÂ two years old, but Iâ€™ve been a full time Realtor for 18 years andÂ have been living and workingÂ downtown since 1987). Â Thereâ€™s plenty more who havenâ€™t ever called me or any other realtor yet. And thereâ€™s evenÂ someÂ who have a sister-in-lawÂ with a real estate license.Â Sheâ€™ll be VERY upset if they didnâ€™t use herÂ when theyÂ buy a home.Â Iâ€™m willing to help them alsoÂ with advice and commentary, if they ask. Maybe theyâ€™ll be buying one of my listings.
Many of them areÂ already wellÂ along the path of getting ready to be homeowners. Some are so set to go, that the minute the right one comes alongâ€¦â€¦theyâ€™re going to grab it.Â Some will think about a house too long and miss their opportunity. Trust me, itâ€™s happened more than you think. Some are going to negotiate to a deal I didnâ€™t think I could EVER get accepted. On the other hand,Â some of them are fixing their credit or saving up some money, or getting back in on the goodÂ graces ofÂ dad.Â Some of them will probably never get it together.
Iâ€™m happy to report that All of them really like what Iâ€™m doing, and areÂ looking forward to joining with me by investing themselves in home ownership, as long as itâ€™s in VeryVintageVegas land. Itâ€™s a funny thing, but, no one ever callsÂ ME, to tell me they want to live in Summerlin or Green Valley.
TheseÂ future buyers haveÂ been watching HGTV. Theyâ€™ve beenÂ dreaming about doing over an â€œoldâ€ home and making it as green and as unique as they can muster. Theyâ€™re thinking aboutÂ it generally as a home to live in, and NOT TO FLIP. The bloomâ€™s off of that rose. The professional investors who are buying the MOST BROKEN of homesÂ nowÂ and during the next year in order to flip them,Â need to be sureÂ they know what their future buyer is going to be looking for.Â If not, Â Iâ€™ll be starting a new series called â€œDumb things flippers do to mess up a Mid Modâ€.Â
I havenâ€™t spoken to many of these potential buyersÂ since they first called and talked to me that one time. The seminars that I attend and often ignore say I should be calling them every 2 weeks. And I should be sending them a postcard every week. The same holds true for the potential sellers who Iâ€™ve casually talked to.
I blog instead, whichÂ makes it easy forÂ all of you to keep track of me, instead of my keeping track of all of you.Â Iâ€™m good about answering calls and returning phone messages and emails, and I get the job done.
Some whoâ€™ve called me recently onlyÂ wanted to askÂ a questionÂ and orÂ get a little perspective. For many, we put a 3 month or 6 month or 2 year plan together that would lead them to being able to buy. If they follow it, or some similar plan, then theyâ€™ll probably be calling meÂ backÂ sometimeÂ to prove to me and a lenderÂ that theyâ€™ve put their financial house in order.Â Then, they can pick a house, too.
Slowly but surely, and then faster and faster, these are the buyerâ€™s who are going to be buying in the next year or so.
So Secret numberÂ TWO and THREE are actually secrets that theÂ potential futureÂ sellers need to hear.
Secret Number 4:
If the potential sellersÂ are looking for a reason to sell, then I suggest they think on this idea:
Thereâ€™sÂ probably another home (that currentlyÂ belongs to one of theÂ people just like you) that would fit you better. And Thereâ€™s one for that seller, also. NeedÂ another room?Â Want another bathroom? Want to stop cleaning so many bathrooms? A wholeÂ wall rock fireplace that was built by REAL stonemasons in theÂ 50â€™s (that hasnâ€™t been painted overÂ â€“Â preferably)Â might be nice. Really cool crank out corner windows?Â Ever dream about a big wall of glass overlooking your lush landscape and pool? How about one thatâ€™s already fixed up kind of like the way you were going toÂ do your current home?Â If youâ€™ve done everything you can think to do, then maybe itâ€™s time to start overÂ on a clean pallet?Â Â
Itâ€™s the move up (or down) game. Weâ€™ve been playing it for thousands of years. The gameÂ isnâ€™t over yet.Â If the gameâ€™s to end, itâ€™sÂ going to take a total meltdown and collapse of EVERYTHING we know and love. In my opinion, weâ€™re only experiencing a real good, well deservedÂ scare.Â Â Kind of like my heart attack. Others begÂ to differ. Of course, if we do totally melt-down, then the game will just start all over again. Period.
Typically, itâ€™s about moving up on the lifestyle and standard of living scale. It still is. But hereâ€™s the twist. (Every good game show has to have a twist). The twist is that financially it might only be a sideways trade at worse. But you will be in a different home that better suits your lifestyle, taste or family needs.
So it works like this. You bought your house for a hundred grandÂ Â 6 orÂ ten years ago. A few years later, you rubbed your hands gleefully thinking it was worth $200,000.Â Now itâ€™s a hundred again IF YOU SELL NOW. Itâ€™s worth WAY MORE THAN THAT TO YOU, unless theirs a good reason to SELL IT NOW.
You sell your house for a 100k and buy one like youâ€™ve been talking about moving up or down to, at the screaming best deal lowest price you can get it for. The seller you buy from is going to take an even bigger hit than you are. Itâ€™s a simple formula. It works and itâ€™s true at every price point.Â Better houseâ€¦.and at worst â€“ financially even.
If youâ€™ve talked to me over the last few years about selling your house, or if something/anything (like my idea above) sparks an idea in your mind, or if it crosses your mind in a month or 6, and certainly if theÂ situation arises where you HAVE to sell now and wonâ€™t be buying again, then give me a call.
IÂ might wellÂ already know the buyer for your house, and Iâ€™ll probably know a damn cool house for you to buy.
I gotÂ ALL that said,Â without ever usingÂ the words Mid Century Modern evenâ€¦ooooops.