Las Vegas Real Estate in 2010 will have a look and feel that is similar to 2009 in certain respects; here is a brief analysis coupled with projections for Las Vegas Real Estate:

1) Our inventory of Las Vegas Homes will be not be appreciatively different in 2010 than the end of 2009 – we started out in 2009 with 13 months of inventory and now we are down to 2.4 months of inventory. We think this level of inventory will stay about the same and will have a continued positive impact on Las Vegas Real Estate!

2) No secret, banks and financial institutions are in the proverbial driver’s seat and we don’t think this will change anytime soon.

3) Affordability has been a huge drive for our sales the last 12-18 months and this will continue to drive Las Vegas Real Estate Sales – builders in many cases can’t afford to build a new home for the cost of square footage of existing homes.  The median price of a new home just went under $200,000 for the first time since 2003.

4) We always have a good snapshot every week of what’s going on with investors via our Las Vegsas Foreclosure Bus Tours that are focused on homes for investors on Saturday’s – we’ve been fortunate (small plug) to get extensive exposure via Radio, TV (Local, National & International) which has helped us in turn stay in touch with local and national media, giving us a bit more insight about Las Vegas Real Estate.

5) What’s going to happen with the US Dollar in 2010?  We don’t know, we are Realtors; but, if we see continued weakness in the dollar we expect to see more international investors pouring in and buying Las Vegas Homes.

6) We anticipate seeing more Las Vegas Short Sales, as Banks opt for keeping homeowners in their homes and preventing Foreclosures, which is good for  Banks, Homeowners, Neighborhoods, etc.

7) 2009 will go down as our biggest year ever in terms of volume of homes sold, we should see similar numbers moving through 2010.

We’ve said this repeatedly, we don’t see a flood of Las Vegas Foreclosures hitting our market in 2010!   The banks’ logic:  If a flood of homes hit the market at the same time, home values will drop.  That effects the value of the REO homes on the market for sale.  That also effects the values of the homes recently purchase with bank loans.  So the banks lose both ways.

Best of the New Year to our Readers – we greatly appreciate our relationship with our Customers, Business Partners and Realtors/Team Members!!

Filed under: Business Development in Las Vegas, Las Vegas Market