Who is really buying Las Vegas Real Estate today? If you read this article just published via CNN Money, "Vulture Real Estate Investors Swoop In" it indicates real estate bargain hunting is occurring on a national basis. We believe the Las Vegas Real Estate market is in a similar position, we estimate approximately 10-30% of our recent real estate transactions are via savvy investors who know a good real estate deal when they find one!
The numbers are clearly starting to work for some investors - meaning, some percentage believe the purchase price of a Las Vegas home has fallen low enough to substantiate their purchasing based on anticipated increase in value for 2-3 years out and/or their confidence in renting the property out for a high enough return to cover their mortgage costs.
A "wild card" factor impacting real estate in our Las Vegas Real Estate Market (which the CNN article touches on) is what perception banking and lending institutions have of the market and most importantly, how much or how far do they write they portfolio down. They are looking at carry a fixed costs on their books and the associated pain can be worse or better, depending on when they bite the bullet and lower the price on a REO/Bank Owned Home to stimulate interest in a sale via a consumer or a professional investor.
Stay tuned - we are in a fluid market, with lots of variables changing on a rapid basis. If you are curious about what you can buy right now in the Las Vegas Real Estate market please call me toll free direct at: 877-850-7866.
Comments(2)