Why Investing in Las Vegas Real Estate Remains a Good Idea

If you're interested in buying and/or selling homes in Las Vegas, then you may be concerned about the current state of the Vegas market and wonder if this is still a prime area for real estate investment. In the past, there was an abundance of investors in the area that paid cash for local properties. However, starting in early 2013, LasVegas real estate trends began to change, as cash buyers began to decline quite noticeably. Here are some reasons why you should continue with your plans to invest in the Vegas market:

Major rental market

There may be fewer cash buyers in the Las Vegas area, yet this has not changed the fact that there continues to be a large number of individuals in the area looking for rental properties. Vegas is a popular city for relocation, and despite recent market declines, it remains one of the best major cities for investors. People are attracted to Las Vegas for many reasons, but here are some of the major reasons why the area continues to grow:

.   Pleasant climate - many cities in the U.S. are well-known for long, miserable winters. However, while it does get cold in Vegas, winters are typically nowhere near what they are in Chicago or Detroit, and there is hardly ever any snow.

.   Save on income taxes - the state of Nevada does not impose state and personal income taxes, and many people wishing to take advantage of these savings choose to relocate to Las Vegas and nearby cities.

.   Booming job market - with such high tourism numbers in Las Vegas, more and more businesses are opening in the number one gaming destination in the world. This attracts people searching for homes, which will contribute to the success of your real estate investments.

Protective Nevada laws for landlords

There is a definite advantage to being a landlord in Nevada, because unlike many other states, Nevada has certain laws in effect that enable landlords to take action against non-paying tenants sooner. Not only does this allow you to get rid of undesirable tenants and replace them with more responsible choices, but it prevents you from losing money if a tenant goes for an extended period without paying.

Stable housing market

According to the Greater Las Vegas Association of Realtors (GLVAR,), the reason for the marked decrease in cash sales in Las Vegas is due to the stabilization of the real estate market after the economy plummeted, which is actually a good thing. Properties may be somewhat pricier, but that means that you can sell and make a higher profit since the property prices are continuing to rise.

So if you're interested in investing in real estate in Las Vegas but you're hesitant, you should proceed with your plans. Due to the expected continued growth in the Las Vegas area, you can rest assured that you are making a smart investment by choosing this area, regardless of the downward spiral of current cash buyers. In fact, you can use this to your advantage, as this may enable more opportunities to be available to you.

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