Up 5.2% from May 2007!
As the economy recovers and oil prices keep surging, this could prove to be a false positive. Warning: Do your own due diligence!
Truth be told...the time to buy your dream home is when you find it...in good times or bad.
Call 702.217.1680 to start your home search today.
Read more here
Looking to invest in a Las Vegas foreclosure property? click here -Investing In Las Vegas
This will answer a lot of questions you may have about the las vegas market in general.
Currently we are dealing with multiple bids on homes, and there are people who believe the new home communities have bottomed out on prices.
Call Steve Harless - 702.217.1680 if you have any questions on how you would like to proceed with your investments in Las Vegas.
Richard Lee
Today Las Vegas Entrepreneurial prognosticator Richard Lee spoke to the office of Real estate agents and brokers at Realty World Luxury Homes.
Speaking to the standing room only group of people, the charismatic Lee held the group's undivided attention a little over an hour with the latest information on the latest happenings and predictions on the future of Las Vegas Real Estate.
During the early part of the presentation, Lee spoke of the globalization of Las Vegas and how the city is evolving into The Convention Showcase To The World going on to say how in the next 3 years an estimated 42,200 jobs will be created by the Palazzo, Encore, Fountain Bleu, City Center, Cosmopolitan, Etchelon Place and other projects that are being built.
With projects such as the 100 Million dollar Fine Art Center, the Jewelry Mart being built, there is a diversification from gaming going on that is surprising many people. Also, Lee said there is expected to be as much as 15 Billion invested in Las Vegas over the next several years. Oh yes, he also referenced that more government/military jobs are scheduled to come to the community as well. The long term investing for Las Vegas real estate looks great, however on a down note, Lee mentioned that as many as 150 to 250 foreclosures a day could be hitting the market and we as a city could see as many as 30,000 - 40,000 homes on the MLS towards the end of the year. Good news for first time homebuyers and major investors from all corners of the earth as a major buying opportunity will be presenting itself. Lee also said we may have seen the bottom for new home developers as some builders have low price guarantees to new home buyers.
What impressed me about Richard Lee, is his bullish attitude on Las Vegas for all the right reasons. Jobs and growth! With 5,000 to 6,000 people a month moving to Las Vegas, job growth should out perform the rest of the US. With All of these people moving here, they will definately need a place to live. That being said, with all the rest of the United States having major challenges in the economy, Las Vegas is still a great place to have fun and call home.
Copyright By Steve Harless
Looking to buy a home in Las Vegas in 2008? There's never been a better time. This seems counterintuitive with all the talk about high foreclosure rates, declines in residential construction and decelerating property values.
But consider: When you're entering the home buying market, whether for the first time or as a seasoned veteran, your ideal market looks something like this:
Las Vegas and Clark County, Nevada is this ideal market today, and it's never been easier, less expensive or a better time to buy a home in Las Vegas.
Five years ago, buyers buying a home in Las Vegas, like in many parts of the country, were dealing with a market where homes were listed and then sold almost like that. And often selling for more than the initial asking price. The real estate boom of the early 2000s was played out in Las Vegas like almost nowhere else.
Today, there are more homes on the market, priced more reasonably, with fewer competing buyers bidding against you. Many investors and families buying second homes who were buying everything in sight in Clark County five years ago are selling now. The number of listings have declined in recent months, but that is owing to the length of time a typical listing is staying on the market, which is growing. There is more choice in today's Las Vegas real estate market than there has been in many years.
Housing values have actually decreased in Las Vegas in recent months, which may be bad news for short-term speculators in real estate, but is great for families looking to buy a home in Las Vegas. For-sale prices fell 3.5 percent in the market over the last three months. Yet real estate is still among the best investments you can make: Home prices have increased in 34 of the last 40 quarters in Las Vegas, and a home bought for $100,000 in March, 1998 is worth about $225,000 today.
And Las Vegas is after all Las Vegas, which among many other things means tourists, money and jobs just keep on coming. Nearly 46,000 new hotel rooms are under construction or planned for the next five years in Vegas. 2007's hotel occupancy rate was the highest since 1996. And overall, the Southern Nevada Index of Leading Economic Indicators reached a record high in February, 2008.
If you're looking to buy a home in Las Vegas, smile each time you hear all the "bad news" about the housing economy. Today there is more choice, buyers have more power, and Las Vegas real estate is a better long term investment than ever before.
Las Vegas Realtor Steve Harless -- 702-217-1680 -- Choose Steve to be your Internet savvy Las Vegas real estate agent The exceptional services he can provide guarantee you and your family will have a leading advantage in the fast changing Las Vegas real estate market.
Article Source: http://EzineArticles.com/?expert=Steve_Harless
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