Many articles in newspapers, magazines, and on the internet are written today concerning the collapse of the Las Vegas real estate market.The local and national television news report daily about the Las Vegas foreclosures and the Las Vegas short sale. Then we hear about the Las Vegas jobs report that is dismal with a current 14% rate of unemployment. Sure. this all sounds and looks rather bleak to so many people. However, there are some people that might not be making a lot of noise and yet are really enjoying the moment.
Las Vegas is known as the Silver State because of the mining of this mineral. Now the Las Vegas real estate market has a bit of shining silver glimmering for a certain group of fortunate people. Who are these people you might ask? Why would they want Las Vegas homes? Well, the answer is simple if you think about it. These people have money.
People who have a source of money can enjoy a real estate market such as the Las Vegas real estate market. Why? Simply, because everything is so affordable for them. Then on top of that there is a tremendous selection of Las Vegas houses for sale in the MLS listings from which to choose. Well, what if I am interested in Las Vegas condos? That’s not a problem because we have plenty of Las Vegas condos for sale too. Let’s say you want a little condo off the Las Vegas Strip for when you come to visit in the fall and winter months so that you can get away from the ice and snow. That’s not a problem either. There is a very good selection for you with prices about 50% off from the peak levels a few years back.
The bottom line is that if you are interested in any of the Las Vegas properties then now is best time to buy in many years…if…you have the money. Homes in Las Vegas are still being purchased regardless of the media reports. Are the reported numbers down? Yes, they are down. However, the fortunate people with money are taking advantage of the Las Vegas housing situation and they are absolutely loving it.
Let’s say that you have been thinking about a Las Vegas relocation and even tho you have the money you’ve just kind of put off the notion of buying a house for sale because of all the negative reports. Well, that’s a call you will have to make. Keep in mind that the negative news is for the people who are unable to purchase and not necessarily for those that can.
There are bargain Las Vegas homes for sale in any of the Las Vegas zip codes…if…you have the money. This holds true for just about any of the Las Vegas housing including Las Vegas luxury homes. So, some people with money that want a Las Vegas home will decide to wait until the news gets better and that’s normal. However, there are other people with money that are now buying Las Vegas homes for sale at a discount and these buyers feel like they have struck gold. Needless to say, for them this is wonderful news.
Be sure to read “The Top 5 Reasons People Move to Las Vegas.”
When you plan on purchasing your Las Vegas property be sure to contact an experienced Las Vegas Realtor!
Bob and Jackie Simmons
The Realty One Group