Comments on: Is Las Vegas Real Estate Showing Signs Of Life? http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: cedar city real estatehttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-60683 cedar city real estate Thu, 16 Oct 2008 11:49:53 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-60683 And the only market worse then Las Vegas is........St. George Utah! Yep we got hammered even harder then Las Vegas. It is good to see Vegas may be rebounding a bit though because that should mean we should start picking up in Southern Utah. And the only market worse then Las Vegas is……..St. George Utah! Yep we got hammered even harder then Las Vegas. It is good to see Vegas may be rebounding a bit though because that should mean we should start picking up in Southern Utah.

]]> By: Las Vegas Real Estate Guyhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57154 Las Vegas Real Estate Guy Sun, 01 Jun 2008 03:27:18 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57154 Historically it's the busiest time of the year, sales wise. Prices are stabilizing and actually going up in a few places. Historically it’s the busiest time of the year, sales wise. Prices are stabilizing and actually going up in a few places.

]]> By: Nadinehttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57114 Nadine Thu, 29 May 2008 07:19:58 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57114 So the challenge is to find any growing up market. I know it's difficult, especially now when we are facing economics resesion. So the challenge is to find any growing up market. I know it’s difficult, especially now when we are facing economics resesion.

]]> By: Felipe Crookhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57106 Felipe Crook Thu, 29 May 2008 01:49:21 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57106 Richard, as a real estate professional in Las Vegas, I couldn't agree with you more. I have been working with many clients and investors looking to capitalize on the foreclosure market here. I ALWAYS check with the listing agents to see how many offers are on their foreclosed listings. In very desirable areas, I'm seeing as many as 15 offers in on a property. It reminds me of the market in 2004. The trickiest segment of the market right now is from $500k-$1million. But even then if the properties are priced well for the area they are still selling. Great post. Felipe Crook Prudential Americana Group Realtors. Richard, as a real estate professional in Las Vegas, I couldn’t agree with you more. I have been working with many clients and investors looking to capitalize on the foreclosure market here. I ALWAYS check with the listing agents to see how many offers are on their foreclosed listings. In very desirable areas, I’m seeing as many as 15 offers in on a property. It reminds me of the market in 2004.
The trickiest segment of the market right now is from $500k-$1million. But even then if the properties are priced well for the area they are still selling.
Great post.
Felipe Crook
Prudential Americana Group Realtors.

]]> By: nuShackhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57078 nuShack Tue, 27 May 2008 22:58:48 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57078 I lived in Las Vegas for about 18 months back in the early 1990's. That whole decade was growth and rising prices (like most of the US). It seemed half the city (on the strip and off) was under construction. It's a great place to live, I hope that the market balances out soon. I lived in Las Vegas for about 18 months back in the early 1990′s. That whole decade was growth and rising prices (like most of the US). It seemed half the city (on the strip and off) was under construction. It’s a great place to live, I hope that the market balances out soon.

]]> By: Robin Lee - Reno Real Estatehttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57075 Robin Lee - Reno Real Estate Tue, 27 May 2008 22:27:36 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57075 Up here in Reno, prices are much more affordable than they used to be. I am hoping that many folks will see the better prices and start demanding more homes. Up here in Reno, prices are much more affordable than they used to be. I am hoping that many folks will see the better prices and start demanding more homes.

]]> By: Matt - Trading System Reviewshttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57068 Matt - Trading System Reviews Tue, 27 May 2008 05:05:43 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57068 You should also consider that this is simply the first leg of the down. In all markets you rarely see a smooth upward or downward curve, there is always a period where people think to themselves "It's gone down a long way, it can't go down much more I'd better buy now" It's often simply a case of people have gotten used to prices on their seemingly never ending upward rise - take a look at the graphs at the end of the last real estate bull market. I'd be wary about committing too much to this bounce unless you can ensure a very good rental yield to support you through the likely raising of interest rates and the reduced refinancing options. You should also consider that this is simply the first leg of the down. In all markets you rarely see a smooth upward or downward curve, there is always a period where people think to themselves “It’s gone down a long way, it can’t go down much more I’d better buy now” It’s often simply a case of people have gotten used to prices on their seemingly never ending upward rise – take a look at the graphs at the end of the last real estate bull market.
I’d be wary about committing too much to this bounce unless you can ensure a very good rental yield to support you through the likely raising of interest rates and the reduced refinancing options.

]]> By: Tom Lindmarkhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57060 Tom Lindmark Tue, 27 May 2008 01:16:10 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57060 Good post. I'm in Phoenix and we are seeing somewhat the same reaction to lower prices. Affordability is key. Good post. I’m in Phoenix and we are seeing somewhat the same reaction to lower prices. Affordability is key.

]]> By: Gaydon - Cedar City Utahhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57052 Gaydon - Cedar City Utah Mon, 26 May 2008 18:25:17 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57052 Interesting post. Cool numbers about the RE market. Readers may want a tid bit of info about the areas that surround Las Vegas. We are just a couple hours from Las Vegas and we tend to see somewhat of what Vegas sees in some ways.We have had some turn around here in southern Utah as well! Now I don't have any numbers for you like you had, but certain parts of the market are coming around. For example, the town home market isn't doing much, but the single family home market seems to be coming back quite a bit. Without mentioning specific names, I work with lots of Realtors that are busy here in Cedar City and St. George Utah. Thanks for the Vegas update! Interesting post. Cool numbers about the RE market. Readers may want a tid bit of info about the areas that surround Las Vegas. We are just a couple hours from Las Vegas and we tend to see somewhat of what Vegas sees in some ways.

We have had some turn around here in southern Utah as well! Now I don’t have any numbers for you like you had, but certain parts of the market are coming around. For example, the town home market isn’t doing much, but the single family home market seems to be coming back quite a bit. Without mentioning specific names, I work with lots of Realtors that are busy here in Cedar City and St. George Utah. Thanks for the Vegas update!

]]> By: Mark McGlothlinhttp://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57051 Mark McGlothlin Mon, 26 May 2008 18:03:33 +0000 http://www.biggerpockets.com/renewsblog/2008/05/26/is-las-vegas-real-estate-showing-signs-of-life/#comment-57051 Richard, very well written post. You've used one of my team's very favorite quotes from Edison too.I'd agree that it's just fine to have hope, particularly when things are beginning to move again. The median price drop we think is particularly a good sign, as affordability in LV has been dismal in recent history, and obviously inventory can't begin to constrict if buyers aren't active.If you believe information like the PMI Group's Market Risk Index, and like you've suggested, there's more correction yet to come, but it is great to see things beginning to move a bit. Yep, it's OK to have hope. Richard, very well written post. You’ve used one of my team’s very favorite quotes from Edison too.

I’d agree that it’s just fine to have hope, particularly when things are beginning to move again. The median price drop we think is particularly a good sign, as affordability in LV has been dismal in recent history, and obviously inventory can’t begin to constrict if buyers aren’t active.

If you believe information like the PMI Group’s Market Risk Index, and like you’ve suggested, there’s more correction yet to come, but it is great to see things beginning to move a bit. Yep, it’s OK to have hope.

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