Be a Genius in the Las Vegas Market
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If you watch the news, read a newspaper, or live in the Las Vegas area, then you’ve probably heard that the recession has hit the Las Vegas real estate market. But a new article in the Las Vegas Review Journal has some good news for those who think the Las Vegas market is in the dumps.
Hubble Smith, quoting a recent SalesTraq finding, says, “Sales of existing homes in Las Vegas rose to the highest level in 17 months with 5,114 closings in March — a 7.6 percent increase from the same month a year ago.” Not exactly what you would expect from our “recession-hit-market.”
And even with the bad image of the Las Vegas market, home sales remain brisk! 50% of all sales today are for CASH. Many investors apparently feel that our housing market is over corrected and under-valued. We feel the same way. We expect prices will continue to decline through the end of this year, and possibly into next year, but not by much.
It’s not that there is going to be a quick turnaround, but we do feel that we are at or near the bottom of this cycle, and that the long term outlook is excellent. Every recession in history has come to an end at some point, as will this one. So, if you want to look like a genius five years from now, buy all the Las Vegas real estate you can today.
Kathryn Bovard is experienced with the often lengthy and sometimes stressful Las Vegas short sale process. If you are contemplating a Las Vegas short sale, she can assist and navigate you through the entire process. Call Kathryn direct at 702-348-7191 to schedule a short sale consultation today.
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