Mesquite Insights

We can never predict the - WHO - WHAT - or WHEN - of buying real estate, but we do know that even in today's buyer's market, there are many people searching for that "perfect" property.  We also know that there are very few "perfect" properties available!  Understanding this will help you avoid disappointment with your real estate efforts.

Too often I have observed that when buyers find their dream home they decide to do nothing but to wait.  Why?  "They want more time to consider."  "The market hasn't hit bottom yet."  "They want more information about the market (the property, or something else)."  "Property is cheaper in Arkansas (or elsewhere)."  Does this sound familiar?  But THEY NEVER SAY "THEY WILL FIND A BETTER PROPERTY!"

Waiting can bring nothing but disappointment when their dream home is purchased by someone else.

So what should buyers do once their "dream" home has been found?

Three words say it all.  MAKE AN OFFER!  If the property truly is your dream home, start the negotiation process at once!  Your agent found you the property you want.  Don't let someone else buy the property out from under you!  Your goal must be to purchase the property for the price, terms and conditions that you can accept.  Your agent is there to help you throughout the entire process - work with him to see your dreams come true! 

Properties are selling in Mesquite.  Our listing in the age restricted community of Highland Fairways, located at 442 Chalet, is now pending after less than 2 months on the MLS. 

And we have a new listing.  A gorgeous 3 bedroom home located on Mesquite's south side in an area of NO HOA.  This property comes complete with a private spa, a large kitchen and dining area, a very comfortable great room, and plenty of fenced yard with RV parking possibilities.

Check out our latest listing and other properties on Mesquite's MLS.  Opportunities await!

What housing slump? 

It's not in the new home market!  Mesquite home sales are running at a rate substantially higer than for 2006.  Since June, over 280 new homes have been sold or are under contract.  This extrapolates to over 700 homes per year - which is far greater than the 580 homes and townhomes reported as sold by the Mesquite MLS for 2006.   

What about existing home sales?  They have slowed considerably - and it could be due to pricing.  A price comparison shows that homes listed on the MLS are priced substantially higer than new homes in at least 3 new developments.  But sellers willing to price their homes competitively or who are willing to negotiate a selling price comparable to new construction are finding SOLD signs on their properties.

Because of the large inventory of resale homes on the MLS, you may find your dreams in one of the existing homes on the market.  If this happens, my advice - don't overpay - ignore the listed price - make an offer and begin the negotiation process.   

Too often buyers are unwilling to make an offer on a property that they truly love.  Why?  I believe that most Americans are used to paying the advertised price for most goods and services - they feel uncomfortable about the negotiation process and they don't want to be embarrased by making an offer less than the seller is asking.  We have been trained to pay whatever the propietor is asking.  This is our culture.  Despite prodding from their agent to make an offer, clients will move on to look at other properties - forever disappointed at not getting what they really wanted.

But in today's real estate market, the buyer is in the driver's seat.  Many resale properties (and some new construction projects) are still priced as though the market were still climbing (not declining).  And these properties sit on the market - day after day, week after week, month after month while the sellers continue living in the past.  Sellers need to be motivated.  A low offer is what they need - something to consider - something to bring them back to reality.  Without an offer to consider, they will blame their listing agent, the "market", interest rates, financing difficulties, or whatever excuse they can dream of - while the real blame is with the buyer!

Many properties will only sell at a much lower price than the asking price - and don't expect the seller to reduce his price.  Take control of the situation ...  Make your offer.  Go in low.  Start the negotiation process.  Don't be embarrased.  And if the seller does not want to reduce the price to the current market, move on.  The loss is his, not yours.  You want a good deal, there are very good real estate deals out there.  Never forget that you, the buyer, are in control of the transaction.  Now, GO GET 'EM!

We are truly blessed to be living in the GREATEST country on earth.  A country whose Constitution guarantees freedom to all its citizens; a country whose freedom is now the envy of the world; a country whose strength is in its freedom; a country whose freedom offers virtually unlimited opportunity to its citizens.

"Never has so much been owed by so many to so few." 

Thank you, AMERICAN VETERANS, for all your sacrifices, for your unselfish dedication to our country, for everything you have done to protect America from its foes and enemies, and for helping preserve our freedoms for generations to come!

Clients often inquire about the water resources available to Mesquite.  They are aware of the declining water levels in Lake Mead and water restrictions in Las Vegas. 

However, Mesquite is very fortunate to have an abundance of water.  Water is available for businesses, residential use, and landscaping.  The water restrictions in place in Las Vegas appear to be "staying in Vegas."  And while the area's golf courses also utilize substantial quantities of water to keep the fairways and greens - green - keep in mind that much of the water they use is reclaimed water.

Last year The Virgin Valley Water District reported it has water resourses in place and developed for a population of over 40,000.  On top of this, there are reserves for a population of 150,000.  Although Mesquite's population may only be appoaching 18,000, the District continues to search for more water to ensure there is plenty in our future.  Plans are underway to begin drilling additional wells later this winter to meet the growing demand and needs of the citizens of Mesquite.