The Time is Ripe for Las Vegas Investment Homes

If you have been looking for an investment property, consider buying a Las Vegas home.  Investors are taking advantage of the low Las Vegas home prices; why shouldn’t you? Out-of-state vacation-home buyers and investors made up a huge percentage of home sales in June. 

A whopping one-third of Vegas home sales in June were from out-of-state buyers, mainly California, buying a vacation home. Additionally, DataQuick reported that 46 percent of all homes sold in June were from absentee buyers, including investors who live in Nevada. 

With the homes' prices being so low, a large number of investors are buying these properties with cash. In fact, 51 percent of those homes sold in June were cash transactions and were purchased well below average prices. 

Although the median home price in June was $115,000, investors and absentee homebuyers paid a median home price of only $94,000.

Understandably, investors and others paying cash tend to focus on the lower-priced homes in Las Vegas; 41 percent of June sales were priced less than $100,000. This is the biggest percentage since the housing market started its correction.

However, it’s important to look at the location before buying. Yes, it could be in a subdivision with lower-priced homes, but the amenities and shopping around the area will help determine how that area and home prices will grow in the future.

The largest portion of sales in June was from distressed sales, a combination of foreclosures and short sales. These accounted for 68.5 percent of the existing home sales in June.

Now is the perfect time to invest in Las Vegas property! I am Yonas Woldu, and I can help you find the perfect home or investment property in Las Vegas – or anywhere in Clark County. For the best in personalized attention when selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. I am fully committed to working with you; I will do the legwork, finding the perfect investment property for you. As investment in Las Vegas property continues to gain attractiveness, you will find that I am dedicated to helping you in every way possible.