Buying homes in Las Vegas is poised to, once again become a viable opportunity for real estate investors and home buyers. Furthermore, recovery of the economy in and around Las Vegas will largely depend on real estate investors and home buyers having ample opportunities in the local market.
It’s my opinion that Real Estate sales are a vital component in the effort to revitalize the economy, specifically in the Las Vegas market. Re-energizing Las Vegas largely depends on Buyers and Investors connecting with resources and finances necessary to complete real estate transactions, as much as Realtors and brokers connecting with serious buyers
This could be one of the best home buying opportunities in history.
Not long ago Real Estate availability was low and buyer demand was very high. Las Vegas real estate was a sellers market. Home prices were racing out of control. Investors were flooding the real estate market and causing home prices to soar. Realtors were recommending that buyers offer 10 even 20 thousand dollars over asking price, and buyers were doing it.
The vision of buying Las Vegas homes offered buyers the opportunity to turn a quick profit of several thousand to tens of thousands within only a few months. Needless to say, this caused home prices to skyrocket.
This type of “Buying Frenzy” is long since passed, and buying Las Vegas homes now requires more knowledge and better planning then ever… however this is an optimal time for real estate investors and home buyers to get into Las Vegas real estate.
Las Vegas is very different in today’s economy. Real Estate is more affordable now and it won’t be much longer before this crisis takes a turn in a new direction. Buying Las Vegas homes in todays’ market offers many opportunities. In many cases, sellers and even developers are willing to make attractive concessions to entice buyers like never before.
The Las Vegas Real Estate market is once again, considered by many experts to be a Buyer’s Market. A quick search of the Las Vegas MLS reveals the growing number of listings available, and allows buyers to compare prices and locations of available homes, condos and other properties. For those who are prepared, this may be the start of new doors opening for the financial future.
A unique combination of events are lining up for growth.
Travel and tourism are leading the way with billions of dollars being spent annually on gaming and entertainment, which is helping high wage jobs make a comeback.
As this happens the population of Las Vegas will soon start growing again and the Las Vegas economy will be on track to reclaiming it’s place among the strongest in the nation.
As the population of the US continues to rise, it won’t be long until the demand for homes starts to rise, and unprepared home builders will be scrambling to meet the demand. The US may soon experience and shortage of homes in the real estate market, according to some.
However, currently, a look at the Las Vegas MLS shows home prices are continuing to drop, more homes are becoming available, and buildable land is becoming more affordable. The resulting increase in inventory combined with a future explosion in demand for homes, makes this an exceedingly good time to buy.