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Quick Update: 8/18/2026 4PM - got word from Claudia that the house cleared appraisal at 450K.
1457 Homestead.pdfQuick Update: Monday 8/17/2026. Went to Las Vegas met with main handymand Albert. Signed paperwork at Escrow company. Paid for HOA Docs - pricey at $500+. Received Inspection Report at about 2PM - Went to Homestead and have a good idea of what the fixes entail and what it should take - will get items fixed except for minor Pool cracks which will have to be negotiated as can't be done until cooler weather and is an improvement and not necessarily a repair. Getting bids over next few days and executing to enable fast close by end of month. The wild card of course will be the pool which is out of our hands for a quick fix.
Quick Update: August 3, 3:30PM. Just talked to Claudia as the house is getting close to complete. Painting is done. Glass comes in on Wednesday and Flooring will go in on Friday. So hope to officially have on the market soon after. We will price at $450K. Limited comps for house in neighborhood with pool, however we believe this is an attractive price point as it also allows for the standard credit back. Zillow has it for $426K so we are not far off. A similar house 1482 Flintrock sold for $439K no pool last October, 986 Painted Pony sold for $385K in January, no pool. In Las Vegas and with current market there isn't the same sales culture of pricing low and bidding up. So we will price it to what we want up-front and hope that we attract the right buyer and it appraises. As with Single Tree I will put together a list of upgrades and repairs and improvements to justify our price point.
Market Update: July 29. The data supports our agent's assessment which is a softening market with Las Vegas being the worst metro in declining values. The Southwest as a whole, with Dallas being the worst, has been in a declining mode. Las Vegas has up to now been fairly resistant. Besides the declining price, the other factor is that sales volume has also slowed down. When prices drop, buyers think they can wait. In an up market buyers have an incentive to lock down a price before they rise any further. I believe our strategy to come in with a quality product with all repairs done is the way to go.
Quick Update: July 21, 2026 - Albert had his crew start work yesterday - As his schedule synched with ours and we settled on the price and list of items. We will have to replace the floor in that bedroom and decided to carpet stairs and contracted with a flooring company who we had used before unfortunately they have a lead time of Aug 7th. Vendor contracted for Windows and they will come in after the painting is done. Claudia indicated she would pre-market prior to August 7th after the paint and repairs made - (the flooring on stairs and bedroom pending). Will have to get landscaper back out to do a refresh prior to putting on market as well. We are being responsive to market in having the product look as good as possible. I'll schedule a trip to Vegas to check on the work week after August 7th as that too is a good check and learning from 922 Single Tree. We had done a ton of work already on Homestead over the years, including opening up the kitchen, new quatzite countertop, new plumbing and electrical fixtures, new tile floor downstairs, and new vinyl upstairs, upgraded stainless steel appliances, and new washer dryer. We are confident the house will show well with this refresh.
Overall Approach: July 14th 6PM: Applying the lessons from Single Tree, discussed with Claudia (agent) and Albert (handyman) - Total Budget about $16,500 + - will paint interior, exterior, replace glass windows, exterior balcony, and will try to fix, not replace parts of upstairs flooring. As learned from Single Tree market is soft and to avoid getting a valuation that is heavily discounted - 20% we will need to go in with a product that is move-in sale ready. This will affect Net Proceeds however the cost of not doing the work is signifcant. For example, Opendoor would fetch $364,725 for an all cash offer (and they reserve the right to charge more for repairs). In a hot sellers market this would not be needed however we are not in that market now.
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