Real Estate Concessions: A Guide to Negotiating in Las Vegas

Ever wonder how to navigate the topsy-turvy world of real estate, especially in a city as dynamic as Las Vegas? Well, we've got you covered, as we, Trish Williams and Tiana Carroll, challenge the doom and gloom narrative of an imminent market crash and break down the Las Vegas real estate scene in the latest episode of Vegas Realty.

The first part of the episode focuses on the current state of the market, underlying the slight increase in inventory and the potential of lower rates on the horizon. We debunk the fear of a foreclosure wave, and leave buyers with some food for thought on how to make the most of these conditions. The latter part, offers an enlightening examination of concessions in real estate transactions. We dive into the mechanics of negotiations, discussing why buyers prefer concessions over price reductions, and the limitations of these concessions based on loan types and government regulations. From buyers to sellers, this episode uncovers useful insights for anyone looking to master the art of real estate transactions in Las Vegas. So, tune in to Vegas Realty, where real estate gets real!

Transcript

Speaker 1: 0:15

Hey Las Vegas. Thanks for joining us back here on Vegas Realty. Check your local Las Vegas real estate show. It is Thanksgiving week and I am Trish.

Speaker 2: 0:24

Williams, and I am Tiana Carroll. Welcome back to the show. We are going to discuss everything real estate going on in the valley by starting, like we always start, with our inventory numbers.

Speaker 1: 0:35

Inventory for this week. Yes, a little bit of tick. Inventory is going up. We are currently at 4,177 single family homes on the market.

Speaker 2: 0:48

So was it last week or the week before we broached 4,000?

Speaker 1: 0:52

It's been a couple weeks. Oh, yeah, right.

Speaker 2: 0:55

Two weeks of over 4,000 active listing single family homes. That's not all listings, that's just for single family residents. There's also town homes and stuff available.

Speaker 1: 1:07

Yep, our sold numbers are down slightly. They're at 3,777. We were hovering in the fours and fives for a bit.

Speaker 2: 1:15

So, we're down a little bit Yep, a little bit of extra inventory, a little bit less than the sales, but we have some price decreases at 4,18.

Speaker 1: 1:25

Yeah, it's about average, pretty average. Yeah, one thing I looked at this week that I wanted to take note of, just because the sold numbers are down. When the sold numbers are down, I always look at new listings versus under contract for the week, right, because what we like to see very good market or very healthy market is when those numbers are very consistent. When the under contract are higher than the new listings, that's an indicator that we have a pretty bad inventory shortage.

Speaker 2: 1:57

Right, we're going shorter and shorter. Yeah, but that didn't happen this week.

Speaker 1: 2:01

No, no, this week. Actually, our new listings were slightly higher than the under contract which is an indicator of softening, of course, with under contract at 431.

Speaker 2: 2:13

Well, listen, coming to the holiday season and then having all of the fear mongering going on in the media, I'm surprised any real estate feels like it's happening. Everywhere I turn, Everybody's like the market's crashing, the market's crashing, the market's crashing, yeah it's not, I don't see, it's cool for this, but it's seasonal right.

Speaker 1: 2:34

It's seasonal, it's cooling, and one thing that we were talking about this last night it drives me crazy is the Fed announced next year, in 2024, they're going to start with recovery mode.

Speaker 2: 2:50

Yep.

Speaker 1: 2:50

So they're going to start adjusting rates down. Rates are going to start coming down as they're. Oh yeah, that's what they're saying. Right, we'll see when it happens. But they're going to start early 2024 and start adjusting rates down.

Speaker 2: 3:03

And I believe the oh, I lost the word I almost wanted to say for a drill bank central bank. The central bank has already started adjusting those rates online.

Speaker 1: 3:14

So we have seen some rates softening, yep, so that's happening. And they're saying that we could go down about three points next year, which would be phenomenal. Again, election year. Right, they said it wasn't going to happen. I knew it was going to happen, I knew it was going to happen. I saw it coming Every election year, the rates come down. It's not not happened. But they used another excuse for it.

Speaker 2: 3:38

Right, right, right, it still happened, right. Well, that would be great news for people who bought prior to well, just six months ago.

Speaker 1: 3:46

Right.

Speaker 2: 3:46

Because you just need six months of consistent payment before you can refinance. So the old youth image date to the rate is such a good example right now, because if you're buying, you happen to buy in this market right now. Six months from now you can refinance. And if those do start coming down, then that would be amazing.

Speaker 1: 4:05

You get the benefit, and this is what drives me crazy with people. People hop there, just listen to me, please. This is what's driving me crazy is because right now it's the perfect time. Buyers, this is the time Prices are good.

Speaker 2: 4:20

I feel like we said this last year too.

Speaker 1: 4:22

At this time, right Prices are good, but it was great last year. You can get a deal. You can get concessions and we're going to talk about what concessions really are today but you can get those deals. You can get the deals because there's not a lot of buyers out there shopping. There's not a lot of homes going into contract. You have opportunity now. The rate is higher but you date that rate Six months. You can refinance that rate. This is your window of opportunity. When the rates come down, there goes all the competition. There goes all the buyers that you're competing against.

Speaker 2: 4:54

There goes all the concessions, your concessions your prices, everything.

Speaker 1: 5:00

This is the good time. But everybody stops at the same time. All the buyers just stop at the same time. They're like, well, rates are coming down, we're going to wait. Yeah, that doesn't make sense. Do the opposite of what other people are doing Date the rate. That is your word of advice for today.

Speaker 2: 5:19

And for all the doomsdayers that are out there waiting, they will be happy to know that on November 30, there will be no more extension. Well, in May they stop the extensions on the CARACs, but all of the doomsdayers are waiting for November 30, hoping that hundreds of thousands of foreclosures will go on the market. I doubt that, because we still have competition in our buying and they can get market value if they do it on the NOD. But I don't see foreclosure after foreclosure, after foreclosure.

Speaker 1: 5:52

And most homeowners still have equity. Exactly, you have to have no equity to foreclose. I mean you can foreclose with equity. It's not a good financial decision.

Speaker 2: 6:02

That's a bad decision. Don't do that. Don't do that.

Speaker 1: 6:05

But in most cases if you have equity you have no need to foreclose. So in news this week here in Las Vegas, f1, after all, gosh what I mean what we have Three months, five months, five months of F1? The whole strip got remodeled, everything's done and it's over Two hours. What was?

Speaker 2: 6:27

two hours. It was the weekend, but yeah, the actual race was quick. And then the next day the strip just looked like an open can of biscuits boy. They were tearing down stanchions as fast as they tried to put it up. They were getting it down, but shout out, right, you're going to hear things like what do you? You didn't think it was successful.

Speaker 1: 6:47

I mean, yes, I guess it was successful, but I just don't get it. I don't get it. I don't get the hype, like what's so exciting about that?

Speaker 2: 6:55

I don't know, maybe you need to get down there and smell those gas fumes and watch them speed by lightning and really just get into it, because it was kind of impressive. The fact that this global standard event happened in 11 months was nuts to me. They threw up a paddock, they built a racetrack, they put up grand stands, they remodeled the strip actually remodeled the strip.

Speaker 1: 7:21

That was so it was just so bizarre, like why are we doing all this? I don't know, but I guess Well over the next 10 years.

Speaker 2: 7:27

I mean for this to be the very first initial one and to go off as well as it did. I was quite pleased with the city.

Speaker 1: 7:35

Yay, Vegas. Yeah, so we're on the map. I think we're already there. Yeah, I think we're already there. We're getting better, we're getting better. Yeah, exactly. So there is other news. This is something I wanted to bring up because I say keep an eye on this area. Oh, so, Lake Las Vegas area. You know Lake Las Vegas if you haven't seen Lake Las Vegas in Las Vegas? Wow, it's beautiful. It is beautiful. It's far out. It's far out from the city. It's a commute If you're trying to get somewhere central. It takes a while to get there. It's its own little place outside, you know, towards Lake Mead no-transcript there's. For the longest time there wasn't a lot going on there because so far, so out, some people just don't even know about it Right.

Speaker 2: 8:28

So far, so out. You're making it sound like it's hours away. No, it is at the edge of Henderson, at the gateway to Lake Mead and it's like 35 minutes from Lake Las Vegas to the airport.

Speaker 1: 8:39

Yeah, so it's not that bad, but you know people in Vegas are spoiled and we're. We think it's too far, or have always thought that. However, with cadence coming into that area, that area like really started growing.

Speaker 2: 8:55

And for those of you who don't know, cadence is a new, not new. It's been going around now for about almost a decade but it's our Henderson's biggest master plan community. It was supposed to be the competition to Sumberland, but on the east side of town they have a huge 500 acre central park with community Wi-Fi and bike rides and pools and it's just a big master plan. Going out there. Different price points from starter home town homes which, if you want to get in before December, they're offering crazy concessions at the DR Horton town homes that are going up there.

Speaker 2: 9:31

So call me for that If you're interested. Yeah, so cadence is going out there and when they brought cadence out there then there was more development and there's going to be development on that Boulder Highway corridor, making the road more accessible and adding shopping shopping was always the biggest complaint for the area.

Speaker 1: 9:48

But that area. Keep an eye on it because that area is growing rapidly right now rapidly, I see. That is a big hotspot for Vegas. It's starting to draw more and more people and they just announced that there's a mine out there called three kids mine, okay, and it's near Lake Las Vegas and it's now going to be the future site of over 3,000 homes.

Speaker 1: 10:12

Oh, so, growth in that area is happening fast and big people take it. Keep an eye on that. So that is, you're looking for the next spot in Vegas to be. I think that is going to be one of those spot cadence Lake, Las Vegas area. Yeah, and just a few months ago, just a few months ago, someone had told me I had someone that was shopping or looking in that area and they were like well, someone told me that that area is like obsolete.

Speaker 1: 10:37

I shouldn't even pay attention to that and I was like nope, there's a lot of growth happening there.

Speaker 2: 10:41

Well, first and foremost, don't listen to anybody, because you're going to let other people make standards for your living. Yeah, BS right, make your own decisions. Go check it out, see if it's something that you like, that you can live with. The people who live out there love it and love it.

Speaker 1: 10:56

Wouldn't live anywhere else. There's some beautiful views oh my gosh, some. There's some spots there where you get beautiful city views.

Speaker 2: 11:02

There's spots where you can see the lake, I mean there's, and if the lake is part of your lifestyle, then it's better to be on the east side of town. Anyway. Yeah, you don't want to be in summerland toting a boat all the way out to the lake or paying for a slip out there when places, especially in Lake Las Vegas, there's communities like Calico Basin and stuff. They have boat storage and RV storage right in the community.

Speaker 1: 11:26

So, yeah, there's options and if you like that, like outside of the HOA on your own land and own your. There are so many areas out there that have those big half acre to acre lots. Yeah, still don't.

Speaker 2: 11:40

County horse properties, all of that on that side of town. So you're taking like a little bit of summer land and a little bit of Centennial Hills and you're sprinkling it across the Lake Valley and Henderson. So it's kind of cool. So I'm letting you by, make your decisions for you. Go out there See if you like it. That's who make the decisions. You make your own decisions.

Speaker 1: 11:59

Yes, but that area is growing. There is growth happening there, more growth coming in that area. They're opening up the freeway, they're connecting it through sunrise mountain. I mean they're not the freeway, the main street over there.

Speaker 2: 12:12

Yeah, like there's they're doing that cut through across the wetlands, which is going to make that commute into Henderson so much easier. Yeah, you're absolutely right. There's development going on not only in the building of the houses but the municipal engineering and the city is planning and yeah, yeah.

Speaker 1: 12:30

So there's, there's going to be a lot. Keep an eye on that area. So today we're going to talk about concessions.

Speaker 2: 12:38

Which is a great thing to talk about today, because in this market, even though the prices haven't decreased or dropped, sellers are giving concessions to move those properties, and that's something that you're not going to get in a competitive market. If those rates drop and 10,000 people jump into the buyer pool, then sellers are going to be like they were in 2022, wanting the world Right.

Speaker 1: 13:03

So let's start first off, just basic what is concessions? It is not popcorn and candy. Oh, I mean it could be Wait a minute.

Speaker 2: 13:10

I love popcorn and candy.

Speaker 1: 13:11

Can we get concessions? Yeah, it could be, but concessions are when you're purchasing a home and you're asking for the seller to give something more to the purchase. We call that concessions.

Speaker 2: 13:24

Yep, give us a gift, give us a break, pay for a closing cost. Do something, yeah Something, please.

Speaker 1: 13:29

Yeah. So in this market where we're seeing and there's some people that have said like, even though prices haven't really come down much or adjusted down much slightly, but not much we're seeing a lot more concessions which are contributing to the overall final net for the seller.

Speaker 2: 13:48

So there is and they're noted in the MLS for appraisal reasons.

Speaker 1: 13:52

Yeah, they're noted there. So we are seeing a little bit of softening there. Concessions are the first things that you see to come into play rather than just money off the price. But buyers prefer in many cases concessions over price reduction. Because when you look at that, if you were to get like a credit towards your closing costs, so just to throw numbers out there, say you had to come in with $10,000 closing cost. Closing costs aren't rolled into the loan. That's cash out of pocket, yep Okay. So if you were to get the seller to pay that closing cost, that's $10,000 cash you keep in your pocket that you do not have to bring to the table. However, if that $10,000 were to come off the purchase price of the home and you were financing, that would just be dollars a month on your mortgage payment.

Speaker 1: 14:41

Yeah, what are you like? $20 a month maybe I don't know, depends on rate structures, everything but that is minimal. Yeah, it's minimal, minimal. You're going to see so much bigger of an impact by taking advantage of that concession and getting that cash that you get to keep in your pocket, which is more beneficial to the buyers, yep.

Speaker 2: 15:01

So, and you can get, you can write concessions into your initial offer or they can come in after a home inspection or in your appraisal period.

Speaker 1: 15:11

You can make adjustments, yeah, so yeah, well, one thing speaking of appraisals. One thing when you're asking for concessions, okay, the home still has to appraise, it does, yes. So sometimes people are like, wow, I know, this home is at the top of its value, it's barely going to appraise, but I'll add $10,000 to the price to get $10,000 back in concessions. It doesn't work that way, right? So the overall value has to work out, so keep that in mind. That's where your realtor comes into play, advising you of where we're at with that and what we have room to ask for.

Speaker 2: 15:48

Right and there's limitations on what we have room to ask for.

Speaker 1: 15:51

Yes, Concessions sellers can't pay your down payment Right.

Speaker 2: 15:57

No, and they can't just give you 50 grand on a $300,000 house. It's a percentage that they can give you.

Speaker 1: 16:02

Yeah, depending on your loan type, the loan limits will put a cap on the amount of concessions that you're allowed to receive from the seller. So it could be 3% and I, as a when I'm a listing agent on properties, I love it when buyers come in and ask for a high amount of concessions and I look at their loan type and I tell the seller just say yes, say yes, they can't get it anyways.

Speaker 2: 16:35

They can't come in anyway Because there's a cap.

Speaker 1: 16:38

There is a cap, they'll feel like they're getting a lot, but then their loan's going to step in and say, well, you only get to have the switch of it. So sneaky, sneaky, mistrush, it's not sneaky, it's just. The agent should know the structure.

Speaker 2: 16:50

The agent should know and here's the thing we're not finance right, so we're not your lender, but they do use these handy-dandy little charts that let us know exactly what we can do. Like on a conventional, where it's your primary or your secondary it's less than 10% down, then you can only get 3% concessions Right. If it's 10 to 25% down, you can get 6% concessions. That's a lot. If it's more than 25% down, then you get 9% concessions of that sale price. And that's on conventional, yeah, conventional FHA. For the primary 3.5% down or more, you can only get up to 6% period.

Speaker 1: 17:29

Yeah, 6% is a lot, though.

Speaker 2: 17:30

Yeah.

Speaker 1: 17:31

So that is good.

Speaker 2: 17:33

So yeah, there's and just, VA primary is up to 4% and it doesn't matter the down payment on that one, obviously, Because there's zero down Right and USDA is 6%. So if you can get a USDA, that's a better loan for certain parts of our valley, yeah.

Speaker 1: 17:51

Yep. So for the seller's concessions, when you're asking for that and we see that a lot right now with builders builders are doing the rate buy downs, you know, and that is it's a concession. They're offering an amount to buy down your rate. So when we come to rate buy downs, it could be things such as 2-1 buy downs, where they put a reserve account to make your payment lower for a certain amount of time Right 2 years and then 1 year, and then on the third year, Surprise, surprise.

Speaker 1: 18:18

Hopefully the rates are better by then. Yeah, so there's. You know there's lots of options there. Rate buy downs can be one of those things that you use concessions for. The other thing that you could use concessions for is just paying your your closing costs. You know your closing costs are your loan origination fees, your prepaid taxes, your homeowner's insurance, building up your escrow account, your prepaid HOA dues, things like that. So setting up that account. That's why you have to come with closing costs. Getting the seller to pay those, or pay some of those, can help you out tremendously with keeping more cash in your pocket.

Speaker 2: 18:54

Yeah, and you always need cash in your pocket. I'm a big fan, yeah, I mean like all the cash. Well, moving, moving, buying a house. You don't have your down payment, your closing costs. You have your moving and any kind of repairs that you want to make or upgrades or whatever. It tends to be a chunk of change. Especially for like the first year and a half, you feel like you're constantly like fixing something or changing something or nesting. Yeah, A home. Good shopping trip with that extra money could be fun.

Speaker 1: 19:24

Yes, absolutely. And another thing that people will ask for, which a very common ask for in concessions, is a home warranty. Yep, yeah, and a home warranty.

Speaker 2: 19:34

I mean it's right in our contract.

Speaker 1: 19:36

Yeah, I, it's automatic in every contract that I write, I put it. I put in a home warranty because it's when you move into the home. Home warranties are not perfect.

Speaker 2: 19:47

They're far from perfect. Those are the facts, ma'am, you got that right, yeah, yeah. Yeah, they can be annoying People love them or hate them.

Speaker 1: 19:53

Well, I don't know anyway that like truly loves them, but it's a peace of mind.

Speaker 2: 20:00

It is a peace of mind and if you are getting the concession from the buyer I mean from the seller as a buyer take it. Take it for the first year. If you need it, it's there. It's great for things like appliances and HVAC.

Speaker 1: 20:13

Yeah, I mean, do homes know that they changed owners? Because it just feels like every time you know, like on an, on an older home, homes were working fine, inspection was good, everything was fine. You get in, you settle in and then something breaks. It's like it knows it has a new owner. It's like fix me, fix me.

Speaker 2: 20:31

Yeah, well, here's the thing how many of us live in our little quirky houses and we know like we got to like shimmy this door or we have to do this. So if you come in not knowing all those little tips and tricks, then you're bound to break something, right.

Speaker 1: 20:43

Yeah, or you. Just I mean we. We get so caught up in our like day to day things that we don't even realize.

Speaker 2: 20:51

Oh yeah, we let stuff slide yeah.

Speaker 1: 20:53

Or we don't even realize it and it's, it's like until it's brought to your attention like oh yeah. I guess that that is a problem, but I've just been doing it for so long.

Speaker 2: 21:01

Hey, I got a technique to shut this dishwasher door. I don't know what's wrong.

Speaker 1: 21:05

What are you thinking it works just fine.

Speaker 2: 21:07

As long as you stand on one foot and put your pointer finger to your nose and hop around, it'll be fine.

Speaker 1: 21:13

I had a dishwasher that I was like for like I swear, like two months it was. I was like why, I'm insane, why am I doing this? And there was a little thing underneath. I was like plugging the thing because it would like disconnect, it would just like short out. And I would just go and plug the thing and I'm like why am I doing this? Why are you doing this?

Speaker 2: 21:30

Because you get. You get employs it right. There's so many things in life that it's hard to completely stay on top of everything, and things that don't demand your immediate attention. Yeah, unless that dishwasher's spewing water under your floor, you're like it's fine, we'll fix it later, we'll deal with it later. Yeah, you just kicking it down the road.

Speaker 1: 21:47

Yeah, and that's what. That's what we do. It's life, we're human right, so um life's kind of busy. Yeah, another thing that um that we see in concessions, um, sometimes it's, I guess it could be called a concession financially, not, not really, because personal properties not part of the real estate contract. I mean, we can make it part of the real estate contract but it doesn't contribute to the value. It doesn't contribute because it's all personal property, Unless there's like a deed outside of sell or you know there's, there's, there's options to make that happen.

Speaker 2: 22:22

But sometimes people ask for things like furniture or yeah, I've had lots and lots of clients walk through and fall in love with a table, a piece of art, outdoor furniture, ask for them and get them. Yeah and yeah. Lots of times it happens yeah.

Speaker 1: 22:36

And you never know, like, where's the seller going. You know if the seller's leaving state they might be trying to get rid of that stuff anyways. So if you want to ask for it, see what happens If the seller has a good agent.

Speaker 2: 22:47

They've already made sure that anything that is definitely not a part of the sale has been noted in the MLS or put away, so it's not even dangled in front of the buyer to enjoy. Yeah, yeah.

Speaker 1: 22:58

No, that's and that's a big one too Like if you have, like some fancy chandelier that everybody's going to love and you're taking it right. Take it, yeah, get rid of it before we start showing the house, because everyone's going to ask for it.

Speaker 2: 23:11

Yeah, yeah, there are other things patio furniture and just normal stuff. A lot of times sellers are like, yes, they can have it, anything to make this deal happen. I don't want to move it anyway.

Speaker 1: 23:21

Yeah, yeah, and you know closed mouth doesn't get fed, so sometimes you just got to ask for it and see what happens. There's definitely been times in our market over the years where asking for concessions can be a hard no and make you lose the house.

Speaker 2: 23:39

Right, right. So there's a time to play in this concession and, like you know, I mainly work with buyers not all the time, but mainly and for me, I'm always gauging the market. Like what can I get away with asking and what can't? It's not that I don't want you to have that patio, but they're getting set, they're getting multiple offers. We're not going to let a patio set get in the way of us getting this house. Yeah. Like we're not even going to put any sort of red flag or stop sign where they immediately look at our offer and go, nope, next, next, next, yeah, we want to be competitive. So in some markets I won't ask for concessions. In this one all day long. I'll be like give it to me, baby, the whole farm. I wanted all the cows and chickens, yeah whatever you got.

Speaker 2: 24:19

I'll take that and that, put that in there. We're going to add that to the offer too. Yeah.

Speaker 1: 24:25

And it's working. Yay, it does. It does work very well in this market. So that's another thing. Get your realtors advice. Talk to them. We don't want to write contracts that are not going to get responses. Right, that's the worst. When you're writing an offer and no one will even answer you back. You know you wrote the worst offer ever, right?

Speaker 2: 24:47

But sitting in doubt. You're like oh, did they hate it? Yeah, Did they hate it. Just reject me, so I know. Yeah, they're like my silence is the rejection.

Speaker 1: 24:58

But yeah, we want to keep things reasonable. But we're in that spot right now where you can ask for things and have a very good chance of getting them, so take advantage of the market that we're in.

Speaker 2: 25:11

Yeah, and that's really the best advice in doing any sort of real estate transaction right Is making sure you're making the smartest moves in that environment to get what you need.

Speaker 1: 25:22

Yeah, yeah, no, that's yeah, we are. When rates start to come down next year, if it happens like they say it's going to, we're not going to see that.

Speaker 2: 25:35

No, no, we're not. We're not, it's going to be. I've worked in this market and this right now in Vegas, I would consider a slower market. Right For Vegas, this is slow For another part of the country. They've been like, oh my gosh, you've got like almost 400 sales this week, blah, blah, blah. No, this is a slow market for Vegas and take advantage of it, because when those buyers come in trust me, I've worked in those frenzies it is madness and chaos when I say for clients, I've written 32 offers and not one of them accepted. And good offers, some of them are cash over appraised value.

Speaker 2: 26:10

No contingencies meaning no warranty, no appraisal, no loan contingency, anything that could hold up that contract. We're like we're waiving everything. Take our money and you still can't get offers when it gets crazy here in town.

Speaker 1: 26:23

Yes, and there is a such thing as buyer concessions in markets like that.

Speaker 2: 26:29

Where the?

Speaker 1: 26:30

buyers start offering the seller stuff to get that offer taken.

Speaker 2: 26:34

Right money over appraised value, rent-free leasebacks for a few months. There's things that buyers can do to sweeten the pot in those type of environments so that the seller will pick their market Cause. Then you're just throwing everything at the seller. What do you want? What do you want? We've offered golden nights tickets, Do you?

Speaker 1: 26:51

remember that. I remember the golden nights tickets we offered to get a listing or an offer accepted.

Speaker 2: 26:58

Yep, so there's different things that you can do to sweeten that pot for the seller if you're in that environment. This is not that environment Right now. The sellers are the ones giving it up to the buyers.

Speaker 1: 27:08

Yeah, I had a client that had a food truck business that offered a going away party catered to the sellers. Oh, fun Makes them take his offer, so anything goes right.

Speaker 2: 27:22

Yeah, it's all negotiable.

Speaker 1: 27:24

It's a contract. If it's signed upon and agreed upon and we can come to terms, we can make it happen.

Speaker 2: 27:30

Absolutely.

Speaker 1: 27:33

So that's the beauty of real estate. It's just when it comes to the financial aspect of it and financing any of those concessions Right yeah, well, when the government steps in, there's rules and regulations. Well, yes, yes, so those concessions can't contribute to the appraised value of the home. Yeah, when government-backed products are like no, no, no, you only get this, can't have too much yeah yeah, so I mean even things such as appliances, new AC, water heater, things like that could be considered concessions to a contract.

Speaker 1: 28:03

Yeah, yeah. So now you guys are versed and you know what concessions mean.

Speaker 2: 28:09

Yeah, yeah, and you're not, and you've got some ideas of what type of environments they work in, whether you're a buyer or seller, what you should be asking for. But again, if you need help with any of that information, a good realtor could be out there and advise. I know a good realtor named Trish Williams.

Speaker 1: 28:25

If you, wanted to contact her. How would you get a hold of you? 702-308-2878. And I know a great realtor named Tiana Carroll.

Speaker 2: 28:33

Oh, thank you.

Speaker 1: 28:35

And Tiana. How do?

Speaker 2: 28:35

people reach out to you. If anybody wants to have conversations about real estate, give me a call, shoot me a text at 702-379-9948.

Speaker 1: 28:45

And this week you guys enjoy your turkey.

Speaker 2: 28:48

Try not to overeat, well no this week go ahead Over no overeat I started overeating last week when the celebration started and I'm sure for the next six weeks I will be having a great time overeating.

Speaker 1: 29:00

Yes, and just on a personal note, I will miss you guys for the next three weeks.

Speaker 2: 29:06

I'm going to be gone, so you're in the beautiful hands of Tiana.

Speaker 2: 29:10

You got me guys, you got me. If that's scary to you, unsubscribe now. No, I'm just kidding. I'm just going to total and unsubscribe. I'm just kidding. But if you do find value in the content we're here every week trying to keep you up with these boots on the ground knowledge of what's going on in Las Vegas real estate and if you do find value and want to make sure you don't miss any of that information, make sure you like, share and subscribe, download these podcasts and just be a part of our tribe and community. We really, really appreciate it.

Speaker 1: 29:39

Yes, and Tiana has some great things in store for you guys for the next couple of weeks, so I will be watching remotely from the beach.

Speaker 2: 29:46

And I might be in here drinking pina coladas, wishing I was on a beach. You never know. Come back and find out.

Speaker 1: 29:53

And we'll see you guys.

Speaker 2: 29:54

Well, Tiana will see you guys next week, next week and the beginning of January, but we'll see you mid-January ma'am no.

Speaker 1: 30:03

I'll be back before Christmas, oh yeah.

Speaker 2: 30:05

I don't know what I was just saying. That's OK. I'm like what month are we? And we're not in December yet? Yes, my mind I'm already celebrating, so we're in December. But no, you'll be back, I'll be back before Christmas, right before Christmas.

Speaker 1: 30:17

Yeah, it's only three weeks, yeah. So yeah, it'll be fun and we'll see you guys. Happy Thanksgiving.

Speaker 2: 30:25

All right, you guys have a great week. We'll see you next week. Bye, thank you, bye, wow.