Commercial PropertyMarket Conditions: Las Vegas, Nevada
Robert Hughes, our market expert for Las Vegas, can"t say enough about the resilient Las Vegas real estate market.
With continual and sustained job growth this area is gearing up for another possible housing shortage in a couple of years, he says.
But for now, the market is slowly ridding itself of bank-owned and short sale properties, which should bode well for the re-sale market.
And investors should know, Las Vegas is a top city for entrepreneurs.
Forbes magazine rated it as a top ten city for real estate investment, and with the current crop of affordable housing, now is the time to buy, because a shortage could be just around the corner, Hughes says.
Though prices will stay low for a while as foreclosures continue to stay on the market.
The biggest bright spot, Hughes says, is the high-end market.
Homes in the $1 million-and-up range are faring well, which means buyers still recognize Las Vegas a unique and entertaining place to live.
For more information on this area, contact Robert Hughes at:
www.vegasrealtynews.com
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