For the November 2008 Las Vegas real estate report (click here)

Las Vegas home sales in Oct. 2008 were down -2.3% from September. Over 60% of these sales were the sale of foreclosed by banks (REO’s). The median price of a Las Vegas home sale fell 2.6% in October from the month previous. It looks like we are going to continue to see additional listings hit the market in coming months as a new batch of R.E.O.’s continue to enter the market. I look for prices to continue their decent.

The Federal Government estimates that we are just over half way through the sub-prime foreclosure crisis. Although sales statistics have shown increases in recent months total number of sales in October were down 2.3%.

There is a substatial increase in U.S. investors and foreign investors buying in this market. Canadian retirees in particular are finding the Las Vegas homes for sale to be particularly attractive. Canadians have been very impressed with how much their dollar will buy in this temporarily depressed Las Vegas real estate home market.

With the still heavy inventory of homes available on the market and over 60% of these homes being vacant R.E.O.’s I know that Las Vegas homes can be purchased substantially below the median price making Las Vegas an excellent Buyers Market.

Canadain and U.S. citizens can buy Las Vegas Homes at prices they previously could only dream about. We are seeing the numbers of Las Vegas homes selling to Canadians at unprecedented rates. Even though the currency exchange rate has narrowed to more traditional levels the steep discounts in real estate in Las Vegas have proven to be a great opportunities for foreign investing.

For more insight on the Las Vegas real estate market I invite you to visit my “Las Vegas real estate site.”

I would also like to invite you to contact me in person for specific opportunities in this exciting Buyers market.

Max Schmidt
702-334-2200

Contact Max and let him know what you are looking for here NOW!

Source: Greater Las Vegas Association of REALTORS®

Las Vegas real estate Charts

Las Vegas listing history to Oct. 2008

Las Vegas homes Sold history through Oct. 2008

Median home sales price history in Las Vegas real estate through Oct. 2008

Contact Max and let him know what you are looking for here NOW!

Great location, 2 Master bedroom condo in Las Vegas gated Community

 You don’t see me telling you about specific properties very often but this Las Vegas condo I feel is outstanding.  It’s ask price is only $99,000 and it has two large bedrooms and 2 baths. It comes partially furnished and is only 4.5 miles to the Las Vegas Strip. It is located in a gated community with pool and hot tub. This jewel it perfect a Las Vegas get away property or can will pencil as a wonderful rental.  This is not an R.E.O. or short sale so it does NOT come with all the problems of other properties in its price range.  It is clean and ready for you to move in located on the ground floor without stairs. It comes with an assigned carport and is convenient to shopping and has a large park right next door.  This is a gem!

You can click on the picture above to take a look at it and contact me for further information.  Max Schmidt 702-334-2200