I have been working like crazy the last few weeks showing clients all kinds of deals. But I have to say, some of the best deals right now are foreclosures. There are bank owned properties all over Las Vegas from $99,000 condos to $1million properties. The one thing I keep trying to tell my clients is that there has never been a better time to purchase real estate in Las Vegas. Obviously everyone’s concern is over paying for a property-including ME. Did you know that only 5% of the houses on the market are selling right now? With such a huge amount of inventory, buyer’s are getting the pick of the litter with the terms they want. My goal when I’m working with a client is to try and negotiate the best price anticipating the decline in our market. If you can negotiate a substantial discount in todays market, your home value should be fine with the market decline (and it’s probably going to decline for two more quarters). The most promising aspect of the Las Vegas Real Estate Market in the next 5 years is the $30 BILLION in construction projects on the Las Vegas Strip. There are going to be over 40,000 new hotel rooms constructed! That will employ a huge amount of people who need a place to live,our job market is very strong compared with the majority of the nation, and Las Vegas continues to be the destination of choice for millions of people from around the world.
If you’d like more information on Foreclosed Properties in Las Vegas, please contact me at Felipe@felipecrook.com or call me directly at 702-683-2169.
Prudential Americana Group Realtor
Las Vegas, NV 89117