Most Single Family Homes are Selling in less than 60 Days in Las Vegas. Doesn’t sound like a housing crisis to me that the media keep claiming about Las Vegas real estate.
Sales volume is up in Las Vegas single family home real estate since July 2007. Since August 2007, more than half of the single family home Las Vegas real estate sold within 60 days of being on the market. The media of course don’t want you to know this as it doesn’t sell newspapers or magazines. The truth is, Las Vegas real estate, especially Las Vegas luxury real estate, is doing much better than you think. Why?
If you examine the recent real estate price points, single family homes are becoming affordable now. The foreclosures in Las Vegas are creating real estate deals not seen in a long time in Las Vegas. Consider that in 2003, right before the real estate boom, single family home prices were so low that other parts of the country viewed Las Vegas as a real bargain in real estate. California real estate investors and relocating residents began to buy aggressively at that time which created the big boom of real estate prices. Now in 2007, many of the single family home prices both in traditional real estate and luxury real estate have corrected to very good price points. Some are at or below the 2003 initial boom price points.
As a prospective buyer of Las Vegas real estate, trying to time the bottom of the market has never worked. Too many buyers are trying to time the bottom right now and clearly are missing a huge opportunity to buy in Las Vegas. Are you one of those buyers? Now is the time to be grabbing the great deals in Las Vegas real estate and luxury real estate.
Contact Bruce Hiatt at (702) 456-7080 x201 or check out the many single family home opportunities in Las Vegas on www.LuxuryRealtyGroup.com. Interactive village and neighborhood maps are online for the Summerlin area to make your search much easier.
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