If you have been reading my blog you know I have been saying that the real estate market is going to come back strong in late 2009 and we should see prices climb to their previous highs by approximately 2012.  Job creation is going to spur this sudden resurgence in the market as the $33 Billion Dollars of development on “The Strip” finishes construction and will create new jobs by the tens of thousands.

Finally the press is seeing the potential of the Las Vegas real estate market again.  In the last few days alone two national news and information publishers have come forward naming Las Vegas as a great place to find a piece of real estate.

The first Entrepreneur dot com found Las Vegas to be the 4th Best Place for a real estate investment bargain.  They sited a 12% year-over-year population increase and a low unemployment rate. They FAILED to mention the employment growth rate which is the main reason investors are now buying property here in Las Vegas.

The Second article was in Business-week they describe Las Vegas a big city buying opportunity because of its average sales price reduction of -23.38% from last year. Once again they are describing Investors coming to Las Vegas to buy deeply discounted homes an renting them out.

If you will recall a few years ago when the national press focused on Las Vegas an its huge price gains.  The result is that we had Thousands of investors flood into the market and buy property.  It looks like once again the national press is beginning to shedding light on the Las Vegas real estate market as a place of opportunity.  Will history repeat it self? Are the days of deeply discounted homes here in Las Vegas about to change?

I know first had that many international Buyers are currently buying in our market.  I know this because I am dealing with several right now. I read several articles in the foreign news each week about how Las Vegas has become a real opportunity because of the devaluation of the U.S. Dollar coupled with the steep reduction in real estate values.

The bottom line is that in speaking with other real estate agents on the street here in Las Vegas we are all starting to see many more Buyers coming into the market place.  The Greater Las Vegas Board of Realtors is seeing an increase in Sales and properties being placed under contract.  We may be seeing the beginning of a change in the Las Vegas real estate market again. 

Historically the real estate markets in Las Vegas have changed much faster than in other areas of the country.  This would be normal in Las Vegas.