Home builders in Las Vegas have resorted to giving huge incentives to unload home inventory. National reports show builders in many parts of the country are throwing in pools, closing costs, and other perks to move the properties. However, there can be danger in accepting such incentives.
When a builder holds a sales price steady on a home or group of homes they understand that they don't want appraisal prices in the area or overall prices of their homes to drop. Sales numbers affect their reputation so they want to keep them as high as possible. So, what if home prices are dropping in the area but new home builders are selling at a steady higher price? Buyers are actually overpaying for the value of the home. If other homes in the area were to sell they would not get as much for them. What the incentives do is mask that factor some. A buyers is actually paying for the incentives and the builders plan on that to keep those final sales numbers high.
This isn't always the case and that is why you want to work with a skilled Realtor. They will help you determine the price of homes in the area so you can understand the real value of the home and incentives.
