The majority of individuals and families that are looking for homes for sale in Las Vegas (and elsewhere of course) start on the Internet. They search places like realtor.com or zillow or trulia, and many other websites. Or they’ll do a Google search for something like “Las Vegas homes for sale” or “Las Vegas bank homes” and so forth.
Once they settle into a site, they peruse it for a while, looking at all the great photos and details on the properties. If they find something they like, they might call, or visit a website for a real estate agent to get more details.
And then they find out the Las Vegas home they are looking at is ‘contingent’ or ‘pending’ and they can’t actually buy it.
Initially, it’s not a big deal.
Until this happens over and over.
The answer is simple. The media tell us that Las Vegas has a lot of homes for sale. What they fail to mention is that most of those are already under contract! So of the 22,000 or so homes in Las Vegas for sale, only about 35% of those are really available (as of this writing).
So how do you figure out which ones you can actually put an offer on and potentially BUY? The best thing to do is visit a website where you KNOW the properties are actually AVAILABLE as of the day that you are there. Most sites do not do this.
As an example, I visited each of these sites as I wrote this article, and compared the listings to our Multiple Listing Service, where I have access to REAL-TIME data that tells me the status of a property. Here is what happened:
Realtor.com – You get all homes that are on the market, and once they sell and the deal is CLOSED, they no longer show up on here. However, you do see all homes, including contingent and pending properties. There is a lag time of 24-48 hours from the time a change in status happens to a property before it shows up here.
To determine which ones are available, when you select a property, below the photo you will find a bunch of tabs including ‘overview,’ ‘photos,’ ‘maps,’ etc. In the ‘overview’ tab, scroll down to where it lists Property Features and the first item shows ‘Status.’ That is where it tells you if there are any offers on the property. If it says ‘Active-Exclusive Right’ it is probably available. Anything else, such as ‘Pending Offer’ indicates that either the property is already under contract, or you will be competing with others with your offer. This is your BEST site choice of the large real estate websites. However, it is not as accurate as some sites currently offered by local real estate agents.
Zillow.com – Unfortunately, after going through all the details on homes listed for sale, this site does not tell you if a property is already under contract. The first few homes I found were either under contract or already sold. This is because agents can post their own listings, and if they don’t update them independently, you never know if it is still available. Though I know many people like to use the ‘Zestimate’ for comparison purposes, the site itself does not give you a realistic look at what you can buy.
Trulia.com – Another site that has lots of fun information, but fails to let you know if a property is really available. After clicking around a bit, getting pop ups and being directed to other sites for some properties, the frustration level definitely increases.
homes.com – The very first listing I pulled up on this site was ‘expired’ – meaning it wasn’t even on the market and never sold when it was. Again, I wasn’t able to locate anything that showed me the ‘status’ of a property. Serious buyers are not going to get the information they need on current properties very easily here.
karolsellslasvegashomes.com – of course I am going to showcase my site at this point. Wouldn’t you if you were writing a blog about real estate in Las Vegas and were also a Realtor?
My site does require that you register at some point in order to see the properties and the addresses. HOWEVER, the most important point to note on my site is that it ONLY SHOWS AVAILABLE HOMES. It is updated daily and REMOVES properties that go under contract, expire or are withdrawn. That means you are seeing ONLY HOMES YOU CAN BUY!
Isn’t that what you’re looking for?
Thank you for reading my blog. If you, or someone you know, is looking to purchase a home in Las Vegas, North Las Vegas, Henderson or Boulder City, please contact me for more information about our current market. I’m here to help.