Sunday, September 10, 2006

In Business Las Vegas - "Incentives for resale homes? Sellers get creative" (9-9-06)

"In this market, we are competing head to head in a big way with new home inventory," said Linda Rheinberger, president of the Greater Las Vegas Association of Realtors. "We are responding directly to competitive conditions and assisting the buyer where it counts, which is the wallet."

"Some larger builders are now offering interest rate buydowns and no payment for six months to a year, Smith said. Their incentives average about 6 percent and reach as high as 10 percent. They can be worth $30,000 to $40,000 to buyers in some cases, he said."

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