Why I would buy in Las Vegas RIGHT NOW

By
Real Estate Agent with Elite Realty

If I were able to buy a Las Vegas home right now, I would, without a doubt.  If I could afford to have two of them, I would jump at the opportunity.  I have found nice homes in areas close to everything that are under $250,000, sometimes even under $220,000.  Actual houses with 3 bedrooms and 2 baths and a yard.  Sometimes even a pool.

The problem is, when I take buyers to see these homes that are discounted TWENTY TO FORTY PERCENT or more below what was paid in 2005 or below what non-distressed sellers are asking, they balk at the condition of these short sales or bank owned homes.  When a buyer sees a nice house in good shape, they compare it to a model home and nitpick it to death.  A tiny scratch on a white wall that you're going to paint anyway?  "It's a dump!  I want all my closing costs paid!"  When they see a home that needs a lot of TLC for the price, they run away screaming.

I'm not in any way trying to complain if I have a buyer in this competitive market, I am just thinking "How can I educate my buyers into seeing the big picture?"  I explain to people how AMAZING the Las Vegas real estate market is right now.  There are serious bargains out there for those who look.  Forbes Magazine cited Las Vegas as #2 for job growth in the nation.  There will be 200,000 new jobs in the next five years.  This town is going to keep growing until it spills up and over the top of the valley and fills in the outlying areas that developers can get their hands on.  Coyote Springs, Pahrump and Fort Mojave, AZ are all places people will soon be commuting from to get to their job in Las Vegas.  Those will be hour-long or greater drives each way.  We are talking MAJOR metropolis in a decade. 

Five years ago, you could get anywhere in town - from Summerlin to Green Valley - in 20 minutes.  I know.  I was here.  I have grown up as Las Vegas has grown up.

I am doing my best to educate my buyers about the amazing opportunity one has in this kind of market.  IF YOU CAN BUY NOW,  BUY RIGHT NOW.  If you're working with an experienced, full-time agent, you will find yourself a great deal, there are many out there.

Denise Willer is an outdoor enthusiast.  In her free time she enjoys her family.  If you are interested in more information about this article in particular, or Las Vegas real estate in general, please call Denise at (702)810-0082.

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Rainmaker
652,546
Bob & Carolin Benjamin
East Phoenix Arizona Homes
Benjamin Realty LLC
How long does it take now to get from Summerlin to Green Valley?
November 02, 2007 12:38 AM
Rainer
14,356
Denise Willer
"Where Therenulls a Willer Therenulls a Way" Las Vegas
Elite Realty

It really depends upon traffic, but on a picture perfect day of minimal traffic it takes 30 minutes, but lately it takes me about 45 minutes to an hour to get from one side of town to the next.  That's barring any accidents.  Just regular congestion.

There is the steady influx of roughly 6,000 people that come each month to Las Vegas to live.  That's a hundred cars added to our roadways DAILY.  Which means that we are starting to see a real division of the east and west sides of town - each has their benefits (Summerlin and Green Valley, etc), but it is difficult to get across the center of town (The Strip) at peak hours of the day - and our rush hour starts earlier and ends later due to the construction and casino industries and their schedules.  Construction workers sometimes start at 5am in the summertime to beat the heat, and the day shift at the casinos lets out at 3pm, so that's when our evening rush hour begins.

It's definitely not bad compared to any large city like Los Angeles or Chicago, but we are so very spoiled here in Las Vegas; great weather, great job market and economy.  It's been Wonderland for a long time.  Now we are starting to feel some of the growing pains, but they aren't anything near what a lot of large cities experience.

It just exemplifies how Las Vegas is still a great place to live, but people are going to have to think long and hard about where they want to live in terms of quality of life for them.

 

November 02, 2007 06:04 AM
Rainmaker
277,978
Arina Hanciulescu
KELLER WILLIAMS LAS VEGAS
KELLER WILLIAMS LAS VEGAS
The only thing is that the potential buyers, or anyone who contemplate to buy in this market, are not sure that is is the right time YET. Because with all the hype around they anticipate a better buyer market in the month to come... 
November 15, 2007 12:48 AM
Anonymous
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Rainer
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Denise Willer

"Where Therenulls a Willer Therenulls a Way" Las Vegas
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