Approximately 50-70% of sales here are Las Vegas Foreclosed House. Be aware, some home prices have dropped by as much as 70% – Las Vegas has bottomed out and many homes are selling as fast as they come on the market.
Here are some insider tips being used by savvy investors who are snapping up Las Vegas Foreclosed Houses:
1) The old mantra about real estate still has “legs” – meaning, location, location, location is still extremely important. Buy a Las Vegas Foreclosed house in a neighborhood that does not have a large number of foreclosures surrounding your house and that has neighbors who are maintaining their homes.
2) Be prepared to pay over the asking price if its a good foreclosure and expect multiple bids – in many cases multiple bids are the order of the day.
3) The market has shifted dramatically in the last three months. Investors are moving back into our market aggressively – 38% of all buyers are now investors, reflecting a 33% increase from over a y ear ago.
4) Many investors are buying Las Vegas Foreclosed Homes sight unseen – this underscores how dynamic our market is.
5) Buying a home in an older neighborhood that is close to the strip, freeway access and a shoppint center makes good sense – the advice may sound obvious, but look for a confluence of all of these factors when weighing purchase of a Las Vegas Foreclosed House. It won’t hurt to be under ten minutes from a Starbucks either.
6) Many investors are in this market for the long term – these long term investors are generating an average of 9% per month, much better than an IRA or stock investment.
7) Our rental market is in good shape, supported in part by people who have unfortunately lost their homes to foreclosure, who now must rent.
Fixing up or repairing a Las Vegas Foreclosed House should not deter you from investing – we have reputable contractors we have used for years that we can make available to you – if you have an estimated repair bill of $10-15K this can usually make financial sense, depending on the type of house, price point, etc.
9) If you are buying for investment purposes use a realtor that also offers sophisticated Property Management services and whose agents (like ours) are Certified Distressed Property Experts; they know the ins and outs of buying Las Vegas Foreclosed Homes by taking this special training.
Last, but not least, we have a proprietary PowerPoint that has salient points about how to analyze and make a decision about buying a Las Vegas Foreclosed Houses – call us if you’d like a copy 877.360.2030 or email info@LasVegasRelocation.com or Tweet us via Twitter:RuthAhlbrand
