Foreclosure Impact on Las Vegas Real Estate
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The majority of our Agents are Certified Distressed Property Experts, meaning they have been trained to handle Foreclosure sales.
Las Vegas Real Estate Foreclosures Impact
What to Look for in a Las Vegas Foreclosure Purchase
Surprise, surprise the news media has been beating the drum about how bad the Las Vegas Foreclosure market is with dire warnings about impending doom and gloom.We disagree and hate to question national media, but our local market is unique when contrasted with other major cities that have experienced drops in real estate valuations. Don't tell anyone - we may have hit bottom!
Some quick facts - we get 40M visitors to our fair city every year and some portion of them fall in love with Las Vegas and decide to relocate here. We should point out, about 20% of our visitors are from outside of the US and some percentage of them are buying second homes here and/or also relocating.
International interest in our real estate is further heightened by the dollar's weakness against most major currencies - a charming pied-a-terre here for say $400K in one of our gorgeous high rises is a great deal versus a comparable spot in trendy St. Johns Wood in London for $1.5M!
Growth does wonderful things for any real estate market! Are we growing at warp speed like we've done in the go/go 90's and later? No, we are not. But, we are growing - our job market has an unemployment rate at about 5.5% (approx), which is bit higher than the national average. But, you have to balance this out with our increase in population - we experienced a net gain of about 12% for calendar 2007.
What's driving our population growth? We are realtor's not statisticians - but, as we look out over the virtual and realworld landscape we can reference some major multi-billion mega development projects going on in the city such as our huge downtown City Center Project, the Echelon, Aliante Station in North Las Vegas, the Encore at Wynn Las Vegas, the Palms Place and a number of others that are opening later this year or have opened.
These huge projects are fueling job growth and relocations to our fair city. Did we mention our local bird is the moving crane? You can't drive a block without seeing one. But, don't look too hard at the cranes - you don't want the bottom of our real estate marketing hitting you when you aren't paying attention.
What to Look for for a Great Las Vegas Real Estate Foreclosure Investment
There are a number of variables that impact an optimum Las Vegas Foreclosure Real Estate Investment strategy including overall investment strategy (aggressive, long term, etc), timeline for assessing market, budget, resources, etc.
•Single Family Home
•Price range $200-250K, with $125 per square foot or less
•Seller Pays all Closing Costs
•Factor in our "Starbucks proximity" rule - you want the home to be no more than 5-10 minutes from a Starbucks and/or Freeway Access
•Home built within the last 4-6 years
•Two car garage with a Tile Roof for Low Maintenance
•Quiet Neighborhood with no proximity behind or in front of home to Commercial Thoroughfares or busy streets, if suburban area
Minimal Maintenance Needed for Home
•Located in Subdivision with Homeowners Association, with very Low CCR ("Covenants, Conditions & Restrictions) under $50. per month
•3 Bedrooms & 2 Full Bathrooms, with Garage
•Neighborhood Location: should have very small number of vacant or foreclosed homes and within 10-15 minutes from the Las Vegas Strip to be close to Jobs, Commerce Entertainment
•No or minimal "touchup" work required for tenant move in
•Vacancy rates in neighborhood are very low - desirable area
•No pool or spa - this may be counter intuitive, but saves you maintenance costs
•If there is a pool, you need to factor in higher maintenance costs
•Ideal Home is Las Vegas Foreclosure and Not Short Sale
If you follow these guidelines for a Las Vegas Foreclosure Real Estate Investment you will generate a sizable return.

John and Ruth Ahlbrand, Co-Founders of RE/MAX CENTRAL of Las Vegas
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Las Vegas Foreclosure Impact
Las Vegas Foreclosures Impact on Las Vegas Real Estate - Analysis, Insight, Facts, Updates
Broker Owner with 20 plus years of experience Blogs about the impact of Las Vegas Foreclosures on our local markets - informative, insightful information.
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Short Video About buying Foreclosed or REO Las Vegas Home
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- RuthAhlbrand
- aka Ruth Ahlbrand
- 1,954 followers
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- Tip for finding home in mkts where inventory may be low; ask your RE/MAX Agent to search MLS list for homes just taken off mkt & contact.
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- Pardee Homes has just announced special pricing/promos here in Las Vegas: http://bit.ly/4ngKNp #realtor #homesforsale #homes #remax
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- Summerlin great place to live in Las Vegas with 15 Retail Centers, very family friendly community: http://bit.ly/7DrsRK #summerlin #realtor
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- American West announces major promotion for their new homes, with aggressive pricing & awesome promotions: http://bit.ly/4KeYw9 #homes
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- Informative post about Foreclosure Assistance: http://bit.ly/1eSIFX #realestate #LasVegas #realtor #foreclosure
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- Our drop dead gorgeous City Center Mega-complex getting good early reviews from tourists: http://bit.ly/7KEnNi #CityCenter #LasVegas
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- Get a detailed analysis of Las Vegas Real Estate Market, with facts & figures: http://bit.ly/6bsOWF #LasVegasRealEstate #Realtor
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- Expect some great deals via Short Sales here in Las Vegas in 2010; Fed pressure on banks will help to drive much more of these.
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- Las Vegas Real Estate still holding to $125K Media Price, making our market affordable, with investors aggressively snapping up homes.
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- Just posted informative Blog: Las Vegas Real Estate Report, filled with analysis, facts & figures: http://bit.ly/6bsOWF #LasVegasReaEstate
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- Jobless Rate Drop driving more confidence here in Las Vegas & around the USA: http://bit.ly/5twe4Z #realtor #LasVegas
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- RE/MAX Central of Las Vegas helps homeowners and investors get the right home for the right price, Certified Distressed Property Experts 2.
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- Even in today's challenging economy people still come to Vegas for old fashioned rodeo fun - yeehaw & thanks for coming:http://bit.ly/6UO5ef
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- The $8.5B City Center is opening next week with big splash, helping to revitalize the Las Vegas brand: http://bit.ly/55bJkN #citycenter
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- We have cash positive properties here in Las Vegas, with 20-30% down, we predict conservative returns next 2-3 years of 3-5% per annum.
by LasVegasRealtor
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