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Feb
14

Now Is a Great Time to Buy a Home in Las Vegas

By Kathryn Bovard

The Greater Las Vegas Association of Realtors reported that cash buyers made up 51% of all Las Vegas homes purchased in January, a first ever for Las Vegas. And this number will only be increasing due to Las Vegas’ emergence as one of the most affordable housing markets in the nation. But what is so exciting is who these cash buyers are that purchased more than half of existing home sales.  Most of them are, in fact, investors who will keep buying homes in cash as long as lending standards remain tight, prices remain at bargain levels and the availability of lower-priced, bank-owned homes is plentiful.

Paul Bell, president of the Realtors association, was recently quoted in Hubble Smith’s article in The Las Vegas Review Journal as saying, “I’d say we’re fortunate to have these buyers in our community. These smart-money buyers are voting with their pocketbooks on the future of our local housing market. It shows domestic and worldwide interest in real estate here because we’re seeing many international investors buying property here at an amazing rate.” Basically what this increasing percentage of investors as buyers tells us is that they obviously think our market is undervalued and see potential for growth. And this could translate into a wonderful opportunity to seize the market by buying a home now before the growth spurt that investors are predicting. Although many investors are buying deteriorating homes to renovate and then rent or sell them at a profit, a buyer in this market has other options too.

Considering a Las Vegas Home purchase?  Search all Las Vegas Homes for Sale using our free, interactive map-based search. Whether buying a Las Vegas Home or renting, don’t try to go at it alone. There’s lot of resources online, and an email to a local real estate or mortgage pro can set you in the right direction.

Related posts:

  1. Is now the time to buy or sell a Las Vegas home?
  2. Is Now The Time to Buy a Short Sale Home in Las Vegas?
  3. Dos and Don’ts for Selling Your Home in the Las Vegas Real Estate Market

Comments

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  2. [...] answer is that it’s different for everyone. And that’s because a variety of factors influence the decision. But there are really only [...]

  3. [...] Las Vegas housing market isn’t as bad as you might think.  Though the overall price of homes is down from last year, the overall price is staying stable, [...]

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