Is the Las Vegas a Bad Market?

By
Real Estate Agent with Agent Connect Realty

Is it really a bad market or just a Buyers Market?

All of our clients who have purchased either a resale, bank foreclosure or new home have been pretty happy with the incentives and results.

Are my Sellers happy? "No" especially if they have to sell. They feel like they are wading out into waist deep waters knowing there are sharks swimming around. If they are not priced close to market most of them are getting offers 20% below asking. So not happy.

In 1999,2000,2001,2002.2003 it was a Sellers Market and Buyers were paying over asking and getting into bidding wars. The Buyers weren't happy when they were buying but in 6 months when they put that home back are the market and Flipped it for a nice profit, they turned into a Seller and they were happy.

Really, is there a Bad market or just a Buyers Market and Sellers Market. The market shifts back and forth almost like one of those wave machines that sits on your desk. It is sure to shift the other way.

Las Vegas continues to have about 6,000 new residents a month and tourism is maxing out McCarren Airport. There are many new residential and condo hotels on the verge of hitting the market AND MGM Mirage City Center is moving along nicely. By the way have you heard, City Center II on the north end of the Strip...

If you are buyer who is looking for something specific in Las Vegas give us a call we will research it to let you know if it is available and at what price. There are one bedroom units on the strip available for around 400k. Just give us a buzz

Posted by


Comments (0)