Forbes.com rate Las Vegas as a “Top Town for Empty Nesters” in an article published April 3, 2008.  It stated that Las Vegas has had a 156% increase in 55 to 64 year olds from 1990 to 2005.  This has been due to the excellent job market as well as wonderful recreation opportunities.

The State of Nevada recently published its findings concerning the in-migration of new residence for 2007.  It found that over 97,000 people moved to Nevada in 2007 which is over 8,000 new residence per month with the majority living in Clark County (Las Vegas) area.

In talking with other real estate agents on the street here in Las Vegas it appears the market is starting to pick up.  We are seeing more Buyers looking, possibly signifying that prices may be close to bottoming out.  With inventory levels shrinking and more sales pending we may be seeing signs of a bottoming of the market here in Las Vegas.  Keep in mind that we will see significant job growth in 2009 so many Buyers will try to beat the anticipated market appreciation bounce back by buying in 2008.

A major factor in the increase in Buyers is the new FHA purchasing guidelines which have started to allow Buyers to purchase a home.  The conventional mortgage market is still in shambles and has been hard for Buyers to obtain a mortgage.  FHA is allowing Buyers the security and assurance they need to complete their chosen purchase. 

Buyers looking in this market are finding wonderful properties that were well out of their financial reach just 2 years ago.  The selection of prime properties is plentiful and a Buyer can find excellent values for their money.

Now is the time to BUY in Las Vegas.  I am buying properties now.  Does that tell you anything?

For the Latest in Las Vegas real estate call Max at 702-334-2200. Your comments and questions are welcome.