Find Las Vegas homes at 2004 pre-boom Prices in 2008
Not all Las Vegas real estate isbeing sold for the same price and it isn’t just the location or the size that dictates the price! Investors are currently flooding into the market looking for the real deals and they are finding them. Some Las Vegas home Buyers are finding real deals with prices that comparable homes were selling for at or near Las Vegas real estate boom prices. My Banks and individuals are selling well below the current average in an effort to sell their property NOW. This has resulted in some properties below the $250,000 mark receiving multiple bids.
With the increase in full and all material costs, these homes are selling for below what it would COST (without profit) to reproduce them. What this means is that investors are buying at record lows and stand to reap the benefit as the real estate market in Las Vegas once again changes course with new employment opportunities that are scheduled to come on line as the massive $33 Billion dollars of casino expansions come on line in 2009.
Recently Ben Bernanke recently said that the Fed. would start increasing the prime rate. This will result in an increase in mortgage loans. NOW is the time to jump in and purchase homes in Las Vegas before interest rate increases and while these deals last.
The Greater Las Vegas Association of Realtors is reporting that there has been a substantial jump in homes under contract last month. Buyers are now making their move. I believe this could spell the bottom of the market that everyone has been waiting for.
It’s time to get busy buying a home.
For the Latest in Las Vegas real estate call Max at 702-334-2200. Or email me at:Max@MaxSellsVegas. com. Your comments and questions are welcome.
Tags: bottom, homes, Las Vegas, market, real estate