Inventory is low and demand is high so home prices in our area are on the rise. Competition to buy is fierce. 

“If no other listings came on the market, the entire inventory would be sold off in about 3 months,” said Peter Moritz, Realtor with RE/MAX Realty Affiliates.

Six months of inventory is considered to be an equitable amount of inventory according to the National Realtors Association. There are several ways an experienced loan officer can help you find ways to save. For example, there is a Nevada program that is helping qualified home buyers with a down payment up to five percent. There's also a new program this year helping school teachers buy a home with a low rate and money down.

“It's a $10,000 free money grant that helps them with their down payment and closing costs,” said Vikki Haven, Senior Home Loan Consultant with Guild Mortgage Company. “It's a reduced rate, one percent below the market rate right now.”

Mortgage rates are still low for all buyers and because they are hard to forecast, buying before they rise can help you save some money.

“They're [mortgage rates] still below five percent, yes, they've come up a little bit but the good news is they are below five percent so it is a good time to buy a house.”

When you do venture out into the marketplace, it matters having experience on your side.

“Sellers are in slight control,” said Moritz. “That's where experience comes in. We know the tricks, the different avenues to take and that's how we get the deal done.”

There are a few other tips from

•    Offering less than the list price can hurt your chances so it is best to find houses in your budget and offer the list price or more. 
•    Don't ask the seller for favors like to keep appliances or to make minor home improvements.
•    Offer to delay moving into your new home. The seller usually moves out of the home at closing, the seller might look more kindly on an offer that lets them move at their leisure.