Las Vegas Real Estate Blog

Las Vegas expects some 300,000 visitors this New Years. Many, if not all, of the hotel rooms will fill to capacity. Non-gaming economic impact are expected to come in at around $210 million.

Over the next few years a considerable number of rooms will be added to the valley. Huge projects will result in a great city economic impact.

New Years will be quite exciting as it has been in previous years.

Most have heard of the "buy low, sell high" concept. So, now that home prices are down, why not jump in and make that purchase? It seems many buyers are holding out. They want to wait until the market "hits the bottom". There is considerable negative psychology surrounding the industry as a whole and it has made people nervous, if not scared. Ironically, in these times of fear people can get the best deals. Many will miss out because they are looking for some red flag indicating the perfect time to buy. By the time many do purchase prices will be on the rise once again.

For example, the downturn in the Las Vegas market is anticipated to be short lived. With huge numbers of employee needs in the next couple of years residents will be relocating to the valley in droves causing inventory to run dry and prices to climb.

Few mortgage applications are being submitted when the truely savvy are making their move. Wise investors will reap the benefits of "buy low, sell high" while others will jump on the band wagon late and "buy middle, sell middle" or worse, "buy high, sell low" which is what many faced in recent months. The key to wise investment is to go against the grain. Get ahold of our team of Las Vegas Realtors to learn more about the market.

Las Vegas hosts the college Las Vegas Bowl. This year BYU, from the Mountain West Conference, returns to shine again. They go up against UCLA from the Pac-10. Last year BYU outshined the Oregon Ducks. This year they are favored because of recent events in the Bruin coaching staff. BYU lost to the Bruins early on in the season but are expected to win tomorrow. This is their 3rd consecutive appearance in the bowl and the crowd is a sellout. Go Cougs!

Las Vegas housing provides great options for residents and investors alike. You may be looking for a unique 3 bedroom, 2 bathroom, 2-car garage house or you may be looking for a multi-million-dollar mansion. As long as you can qualify for the home you will be able to find it here. Huge spreads with many acres exist for the wealthy. Horse properties exist for the equestrian lover. Golf course properties entice all sorts of golfers. The key is to outline your dream home and let us go find it for you.

Planning to purchase a Las Vegas home? Let us help make the process easier. Please take 5 minutes and provide the important information below so we can begin finding your home for you. We will respond as quickly as possible with your best options. Click for form...

An MSNBC panel of economy experts gathered at their annual forecast and agreed that, except for a mishap by the government in coming months, there will be no recession. The economy will slow considerably as people spend less and the housing market continues to recover. However, according to the panel, it is not going to get too rough on a national basis. It feels like a considerable change because of the growth of recent years but the economy is expected to grow, none-the-less.

Also, foreclosure filings are down. Though the levels are high, they are down.

"Soaring foreclosures have set regulators and lawmakers scrambling to curb the trend, which many economists say could tip the U.S. economy into recession. Plans that make it easier to get a government-insured loan or would freeze interest rates for some subprime borrowers will slow foreclosures, analysts say. But many homeowners remain vulnerable to default." - MSNBC

Many potential home buyers in Las Vegas are holding out to the last minute to time a market direction change just right. Some of them are losing out on great opportunities now, but that's not the point of this article.

Many have invested in foreclosures and fixer-uppers. Some are striking amazing deals, even in a tough market. However, the truly business savvy will win out. At times, the cheapest, seemingly best deal isn't always what it seems. Some properties require the skills of experienced handymen and contractors. First time home buyers and investors should be very careful about "a great deal". It is better to take on a project with moderate margins than to buy a mess that you can't fix. An experienced real estate agent who looks out for your best interests will help you determine how much elephant to bite off.

On the other hand, if you are ready to embark on a major project for considerable gains your agent will be able to help you with that too.

Celine Dion took her final bow this weekend at the Caesars Palace. After singing a Christmas tribute she brought out her support staff and her family and thanked the crowd for making the journey so wonderful. She has set records with 717 shows across 5 years. She grossed $400 million. She has performed much of that time in front of sellout crowds and has typically drawn great reviews.

It is believed that she is expecting another child and has other professional plans so she has decided to move on. The Las Vegas culture will miss her.

Today, Jay Young, a Las Vegas local, releases a new Christian Gospel Album "One More Stone". With rich, baritone vocals Jay highlights the energy and soul of gospel music. He communicates his Christian message with strength and conviction and adds even more depth with his harmonizing background choir.

Jay Young also plays a key role in the Saints Unified Voices Christian choir directed by Gladys Knight. The choir performs in special events called "firesides" hosted by The Church of Jesus Christ of Latter-Day Saints. His talents and soulful feel have touched the lives of thousands across the United States and in various places throughout the world.

To preview the album, released today, check out his MySpace Page.

Congrats on the release of your new album.

The perception of buyers is that the Las Vegas housing scene is in a lull. So, if home purchases are hard to come by for some, where are they living? The rental market is thriving. Homes are rented. Apartments are rented. If the price is reasonable, just about anything will rent.

Those familiar with Robert Kiyosaki and who follow his real estate teachings should be smiling big. He is a huge advocate for real estate investing. His methods are more than speculate and just buy a house for appreciation. He urges the purchase of many units. His books are an interesting read.

Las Vegas investors have a hard time finding apartments, four-plexes, etc. because most are tied up and few are built in recent years. However, if you have one, they are full.

If you are looking to invest, contact your Las Vegas real estate agent to investigate the rental scene.

A low number of housing permits along with a large expected influx of residents moving to Las Vegas for jobs and lifestyle may cause another home shortage by 2009. Thousands of people continue to move to the valley. Thousands have postponed purchasing homes on account of the price correction and are simply awaiting a shift in talk about a safe market. There could be another rush on inventory and a considerable rise in prices.

"The Southern Nevada Home Builders Association released a report this week which forecasts a shortage in available housing by as early as 2009...The study, conducted by Applied Analysis, found that the 2008 residential housing market will likely remain soft...However, major Strip construction projects set to open in 2009 and 2010 will create a need for thousands of new jobs, which will strongly impact housing availability." - RJ