LAS VEGAS (KLAS) — The real estate market is so hot that not even a fixer-upper can save you money, according to porch.com‘s latest data.
They looked at current real estate listings in 500 markets across the U.S. to determine where you might save the most buying a fixer-upper home. Las Vegas isn’t one of them.
In fact, Las Vegas ranked No. 5 for cities where fixer-uppers are discounted the least right now. Las Vegas is behind Boston, Mesa (Ariz.), Riverside (Calif.) and Phoenix.
The best places for fixer-uppers: Omaha, Neb., has fixer-uppers discounted a whopping 62% — much higher that the average around the nation, which is 25%.
The average discount for a fixer-upper in Las Vegas is only 3%, porch.com reports.
A fixer-upper is defined as a home that can be lived in, but needs some form of TLC, or updating that would allow for it to be sold at a discounted price.
This is currently a seller’s market. People trying to get rid of these fixer-uppers are asking for top dollar, even though the home might not be in the best shape.