By now if you haven’t heard that the average price of a home in Las Vegas has decreased then its time you knew.

If you are like so many other investors or home Buyers you are probably standing on the sidelines waiting for the prices to quit falling and then you will swoop in and grab the deal of the century.

I have a few things you may wish to consider while sitting on the sidelines waiting for the market to change.

Let’s start by considering what is happening right now in the Las Vegas real estate market.  Five days per week there are approximately 100 properties being auctioned off at the Trustee Sale in downtown Las Vegas.  Of all these homes selling on the auction block only about 6 to 8 per week are being purchased by anyone other than the mortgage company who is doing the foreclosure.

With 500 homes going back to the banks per week where do you think they are being sold?  The Greater Las Vegas Association of Realtors Multiple Listing Service has a great many of these properties but they do not have them all.  Many properties are being wholesaled to Buyers at substantially lower than market prices.

The worst estimates by most economist suggest that Las Vegas real estate may fall in value by up to 16%.  If you could buy today at below a 20% discount would this mean its time to get back in the market?

What you need is a Buyers Agent in Las Vegas!

If ever their was a time you need a Buyers agent under contract to find you the very best deal, now is the time to hire one.

Yes, you may have to pay them a 3% commission but if they find you a deal at 30% below market that still figures a healthy gain for you of 27% in your pocket.  A deal like this would be virtually bubble proof.  These types of deals are available if your Agent knows how to find them.  Yes, they will require a lot of work but it will pay off for you in the end.

If you were the Bank selling these properties at 20 to 30% discounts and you saw indications that the market was leveling out or even starting to rise would you continue to sell properties at deep discounts causing your company more losses or would you change your policies and start requiring higher prices for your foreclosed homes?  If you care about your job you will raise the prices if they will still sell.

The point is the smart Buyer needs to buy while the market is headed down but in such a way as to insure that they have purchased low enough to insure that when the market bottoms out they have still make a great deal.  This is a possibility in the market today but as the market bottoms out, in the next 6 months, the market pricing will begin to firm up and deep discounts will disappear.

Use a contracted Las Vegas real estate Buyers Agent to help you find a home run deal today.