My 2022 Realtor Highlights, Success Stories and Challenges

It wasn’t a great record breaking sales year for many Las Vegas realtors. Inventory is up 463% from last year with 4.8 months of availability per LVR data from November 2022. Home prices have been declining about 2% monthly for the last couple months as interest rates have risen to fight inflation. I personally had a great year for getting good reviews but I did not break any sales records. The extra time provided me with the time to improve my business infrastructure, educate myself more about investing, and enjoy time with my kids. Which is one of the reasons I got into real estate. But as usual the caffeine has me focused on crushing business goals and creating more wealth for my clients instead of being present with my family. So I had the great gift of slowing time down for a bit and spending time with my 6, 7 and 10 month-old baby which is my greatest highlight of 2022. Below are a few other awesome highlights as a real estate agent in Las Vegas. The real estate highlight stories below will educate you on challenges and success strategies for selling or buying a home.

Highlight 1

My friend from jiu jitsu contacted me regarding the value of her home. She was relocating to Florida and needed to sell her home. She decided it was time to move like many of the 14-23 million other people during the pandemic. There are many people that relocate into and out of Las Vegas every year. “Las Vegas ranked second behind Houston among Penske’s top moving destinations for 2021. Phoenix was No. 3, Charlotte, N.C., No. 4 and Denver No.5”? per Las Vegas Sun. When my client contacted me she did not want to do any repairs and had good documentation of improvements. There was very little we needed to do to the home to get the home ready for videos and pictures. We hooked her up with some great house cleaners and landscapers and we had an appraisal done. Our next steps were to run our comps and put the home for sale on the MLS Thursday afternoon. We started receiving fielding phone calls within the hour. The property is a beautiful 5 bed 3 bath home with a pool in a great Henderson, NV neighborhood without HOA.? We received 5 offers by Saturday night and we went with the first one that came in. It was over the asking price and set a record for that neighborhood.?

During the premilinary title search, it was revealed the seller had a settlement paid to her by builders for the irrigation pipes that were put in. The buyer's agent and I negotiated credits to provide the buyer. That’s how that was handled but it is important to come out with all documents regarding your home so you can have all the information to negotiate as strongly as possible.

Highlight 2

My second favorite transactional highlight of 2022 was helping my friend buy her first home. We had put in 34 offers over 6 months and she was getting to the end of her patience. A single mother, getting down payment assistance and an FHA loan.I like to share this type of info because things are not as easy for FHA and Down payment assistance buyers in a sellers market doing things by themselves. Typically it takes longer to close on these types of deals as well as the home will get appraised with different standards, so it seems easier to sell to a cash or conventional buyer sometimes. One of my founding principles is that buying a home builds generational wealth and helps provide stability for a child's growth. I also strongly believe Real estate can be the financial tool that helps reduce or increase the wealth gap in America and many other places. Anyone can own real estate with proper financial habits and knowledge of the system. So it was extremely important for me to accomplish the goal of finding her a home.?

In the buyers market we are in now, buyers are getting all closing costs covered and down payment assistance, virtually paying as low as $2000 to move into a single family residence. Well in a buyers market things would not be as challenging for my client, but in a sellers market it was tough. We were getting beat out by investors daily but it did not hold us back from getting her a home. Negotiating through other offers and being back up offers, we finally found her a beautiful 3 bed 2 bath home with a nice backyard for her son to play.?

Summary?

Choosing your time wisely is the theme of my highlights. I cherished the time I had with my family more than anything. I had time to focus on what I truly got into real estate for and that’s being better at investing and building passive wealth through real estate. I’ve read 6 investing books this year, joined countless Facebook groups, networking groups and created many new friends in the space. This next year I will be focusing my efforts on building the portfolio of my clients and I. So as I realign and refocus myself for my 2023 goals, keep in mind what the stoics believe “The amount of time we have is completely and utterly out of our control—but the way we spend our time remains ours. Seneca once wrote that it's not that we don't have enough time, rather we use the time we have wastefully. We fail to treat time as something of value even though it's our most valuable resource” per the daily stoic.??

Reach out today if you have any questions about buying or selling your home in Las Vegas by visiting our Contact page or to get your home value visit our CMA page and fill out the form.?