The Las Vegas Market is Hot

Ok, I should clarify that: Segments of our market are hot. I’ve been looking for some properties for my clients in a master plan community called Summerlin on the west side of Las Vegas. A lot of my clients are investors coming back into Las Vegas to capitalize on our down market. Properties that are listed around the $150 sq /ft price range in Summerlin, and under $350K are selling like hot cakes. Yes, we’re even seeing multiple offer situations on many of them. So contrary to frightening media report of a complete collapse of our market, there are still parts of town that are selling like crazy. In fact, I’ve personally seen banks intentionally price a property so under market in order to create an “unofficial” auction. Click on the picture below to see the recent sold properties since March 1, 2008. Take a look at the list price versus sales price. Many times the sales price is higher than the list. How is that possible in a down market? Foreclosures are ruling the market right now and banks want to get them off of their books. If you’d interested in foreclosures in Las Vegas, please give me a call directly at 702-683-2169 or email me with questions. Thanks!
Gay Real estate Agent las vegas
Your Gay Realtor in Las Vegas

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3 Responses to “The Las Vegas Market is Hot”

  1. Las Vegas Managing Editor Says:

    The “down” market they are talking about is that prices are certainly down.

    I’ve lived here 15+ years and seen the rise in real estate prices, but this is the time when prices are back to early 2000’s (this decade) levels. As all the building on The Strip caps out and the local economy picks back up, the prices we see right now may never been seen again.

    Not sure that the easy mortgages of the past are available, but savvy investors with some cash to toss down (or cash plus good credit) can clean up right now. I noted this in one of my recent blog/newsletter posts:
    http://www.las-vegas-news-reviews.com/08-05-21.htm

    I’m not gay, but will note that Las Vegas is gay friendly when it comes to hiring. Most of us don’t care who you date or live with as long as you can get the job done. With the exception of a few “tell other people what to do” laws like the smoking ban, this is a “live and let live state.”

    Great post… good info.

    Ted Newkirk
    Managing Editor
    http://www.accessvegas.com

  2. huntsville Says:

    Now is the time to look at the market. As Warren Buffet said, “Be greedy when others are fearful.” The Housing Bubble is not bursting everywhere. They certainly aren’t in Alabama, Arizona, Southern California, Florida or Nevada. Pockets of growth are thriving in places that really don’t make the headlines too often. They are worth considering if you are relocating, investing or looking for a retirement haven or second home

  3. Felipe Crook Says:

    I totally agree with you Huntsville! I’m working with a bunch of second home owners, and investors right now. There are amazing opportunities for people looking to purchase here in Las Vegas. Thanks for your comment, come back and visit.
    Thanks!


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