Las Vegas Real Estate Agent, Las Vegas Short Sale Specialist
|
|
|
Why it's a GREAT time to buy in Southern Nevada
|
|
Mortgage interest rates remain at historically low levels, effectively lowering the cost of buying a home. It is not clear when interest rates will begin to rise. However, economists and other experts generally agree that rates are unlikely to fall significantly in the near future.
Southern Nevada’s economy remains stronger than most metropolitan areas, with steady job and population growth. According to Las Vegas Perspective, Clark County added more than 96,000 new residents in 2006. This bodes well for the long-term strength of the local housing market. The Las Vegas valley continues to be a leader in job creation and has one of the lowest unemployment rates in the nation. Over the next three years nearly 20,000 hotel rooms will be added to our city, representing approximately 41 billion dollars worth of new construction. Of course, these economic factors fuel demand for housing and offer more opportunities for newcomers and existing residents to own their own home. For every hotel room added, the Las Vegas Convention and Visitors Authority estimates 1.8-1.9 new employees will be needed.
Recent increases in foreclosures present opportunities for buyers as well. When lenders are forced to foreclose on a property, they typically are motivated to sell that property as quickly as possible to recoup their investment. This presents bargains for buyers.
The unprecedented housing boom of a few years ago may never be duplicated, but Southern Nevada still offers attractive real estate investment opportunities. Examples include high-profile residential properties being built as part of MGM MIRAGE’s CityCenter and similar billion-dollar developments on and near the Las Vegas Strip.
The history of the local housing market suggests long-term growth. More than most markets, the history of steady housing and real estate appreciation in Southern Nevada suggests the value of property will rise as long as the nation’s boomtown continues to grow. All markets are cyclical. But with privately owned land being scarce in the rapidly growing Las Vegas area, history and the laws of supply and demand suggest that prices will appreciate in the coming years.
Americans have never been more informed about the housing market than they are today. However, one byproduct of the well-publicized national real estate boom is the temptation to view real estate as a short-term investment, similar to the stock market. This perception has had unhealthy impacts on the housing market. The GLVAR believes buying a home is a long-term investment and should be thought of that way |
| Nevada, far western state of the United States. It is bordered by Utah (E), Arizona (SE), California (SW, W), and Oregon and Idaho (N).
Area, 110,540 sq mi (286,299 sq km).
Pop. (2000) 1,998,257, a 66.3% increase since the 1990 census.
Capital, Carson City.
Largest city, Las Vegas.
Motto, All for Our Country.
State bird, mountain bluebird.
State flower, sagebrush.
State tree, single-leaf piñon. 
Nevada's riches do not grow from its land; rather, almost incredible wealth lies below its surface. Although copper mining is now much less dominant than before, Nevada is the nation's leading producer of gold, silver, and mercury. Petroleum, diatomite, and other minerals are also extracted. The state's manufactures include gaming machines and products, aerospace equipment, lawn and garden irrigation devices, and seismic monitoring e quipment. Warehousing and trucking are also significant Nevada industries.
Nevada's economy, however, is overwhelmingly based on tourism, especially the gambling (legalized in 1931) and resort industries centered in Las Vegas and, to a lesser extent, Reno and Lake Tahoe. Gambling taxes are a primary source of state revenue. The service sector employs about half of Nevada's workers. Liberal divorce laws made Reno “the divorce capital of the world” for many years, but similar laws enacted in other states ended this distinction. Much of Nevada (almost 80% of whose land is federally owned) is given over to military and related use. Nellis Air Force Base and the Nevada Test Site have been the scene of much nuclear and aircraft testing.
Carson City is the capital; Las Vegas is the largest city, and Reno the second largest. Outside the cities, visitors are attracted to Hoover Dam and Lake Mead, with its facilities for fishing, swimming, and boating; Lake Tahoe and Death Valley National Park, both on the California line; Lehman Caves National Monument; Great Basin National Park; and restored mining ghost towns like Virginia City.
*Columbia Encyclopedia, Sixth Edition, Copyright (c) 2003 | |
|
|
ATTENTION NEVADA HOME BUYERS - MLS IS HERE
|
|
THE ULTIMATE LAS VEGAS REAL ESTATE SEARCH ENGINE
You can receive free priority access to Hot Nevada Real Estate Listings from all real estate companies! The ULTIMATE Nevada Real Estate Search Engine | | - Nevada short Sales
- Nevada Foreclosures
- Traditional Listings (Yes - Equity)
- NEW construction
- Free list of Nevada Properties
- Search the web yourself
- View New Properties with information that the Real Estate Agents Have
- Simply enter your price range, desired features and location
- Be the first to see to hot new listings. Beat out The Competition!
- Includes luxury homes of Nevada, flip ready homes, REO Properties, Nevada Short Sales.
Once you enter your form - You'll INSTANTLY receive your PRIVATE PASSWORD to receive ALL ACCESS. (Please DO NOT share your code with your friends.) |
|
|