We believe now is the time for Real Estate Investing here in our local Las Vegas Market. Yes, we are still in challenging economy, but risk and reward “live together” and Las Vegas was “first in” to the Foreclosure crisis and we are now rapidly becoming “first out” – which underscores the opportunities for real estate investing.
Real Estate Investing Snapshot
We have more than $30 billion in pending new construction for Las Vegas originating with international and domestic developers. This includes the Las Vegas Sand’s $1.8 billion Palazzo that is scheduled to open this January, the MGM City Center with $11 billion scheduled for Q-4 of this year (2009) and Boyd Gaming’s $4.8 billion Echelon slated for opening in 2010.
As our economy moves back to a healthier status regulatory pressures will bring people and business to Las Vegas and other Sunbelt cities and states. Real estate investing in Las Vegas i attractive for many reasons, including our being one of only seven states with no income tax is a major advantage, especially when coupled with the excellent lifestyle amenities Las Vegas has to offer.
Las Vegas Growth Patterns
Las Vegas has been a high growth state for years; when a state like ours moves to a more relaxed rate of growth it can feel like a stall to many. But, it’s not, the affordability of our real estate for investors and prospective homeowners is stimulating and will continue to stimulate sales and growth, albeit at a slower pace.
Opportunities for Experienced Investors
If you are an experienced real estate investor we believe there are tremendous opportunities for investing in rehabs, resale and even wholesale investments. Buying multi-unit rental property right now is also a hot real estate investing strategy – we have prices that have dropped by 30-50% in the last 18 months coupled with mortgage rates that are also close to historic lows – here at RE/MAX CENTRAL we believe there has never been a better time for real estate investing!
