The Las Vegas Real Estate Market: Recent trends

Real Estate

Real Estate

Living in Las Vegas may seem unrealistic to a lot of people, but in fact, the real estate market there is very real. Las Vegas offers some of the most developed entertainment, best tasting foods, and breathtaking sightseeing. Buying a home in Las Vegas is a very viable decision, as property in the area can be significantly less expensive than other cities.

However, the Las Vegas real estate market was not immune to the recession. In fact, the large unprecedented growth of the market in the past few years was built very much on sub prime lending, which collapsed and is now known as the Las Vegas real estate bubble burst.

Homes in Las Vegas real estate have been much cheaper than they have been in the past, causing a spike in the Las Vegas real estate market. The cheaper housing available in Las Vegas was much more affordable, especially when compared to nearby markets such as Southern California. With such a large amount of homes available for sale and rent, prices have dropped below historic market value.

This was all happening at the beginning of 2009. The active Las Vegas real estate market has helped to speed up the recovery from the recession. More properties are being bought, theoretically causing the prices of Las Vegas housing to rise.

More recently, however, the Las Vegas real estate market has changed even more. The lower prices prove to be very good news for those who are looking to buy a house in Las Vegas. Here are some highlights from the trends since the summer of 2009 in the Las Vegas real estate market:

1. Home prices are at record lows unseen in Las Vegas since 1998. This does not necessarily mean good news for everyone, but it is good news for people looking to buy a home.

2. The median price of existing homes was at $125,000 in April, a 57% drop from two years before that. The average price per square foot was $135.73 in April of 2008. One year later, the price per square foot sat at $79.58, a 42% drop. These drops have brought a lot of business and activity to the Las Vegas real estate market.

3. Home sales in Las Vegas are up, mostly due to the dropping home prices. In April, home sales soared with 4,063 existing homes being sold, and increase of 78% percent from April last year. Out of all homes sold in April, 62% were owned by the bank. The amount of home sales increasing has sparked the Las Vegas real estate market.

4. The current inventory of existing homes is 16,202, which is the lowest since April of 2006. This does not necessarily mean a sign of recovery for the Las Vegas real estate market, but it can be a good sign. In addition, the program “First Time Home Buyer Tax Credit” offers $8,000 or 10% of tax credit to first time home buyers. The program ends in December of this year, and will likely have a large impact on sales.

Renting in Las Vegas? Should rent a Las Vegas apartment or house?

For anyone thinking about moving to the Las Vegas area, there is a lot of information that should be taken under consideration. The real estate market is changing rapidly and a person looking to find a home in Las Vegas should educate themselves about recent trends and news. As the gap in price between renting an average Las Vegas apartment and renting a house becomes lesser, perhaps the best choice is to not rent a Las Vegas apartment, but rather a house. According to sunsetcities.com, the average monthly rent for a Las Vegas apartment is about $850 and the average rent for a house is about $1100 to $1200. There are many more reasons that you should consider as well, especially if price is not a major concern of yours. 1. Other pricing information in Las Vegas: If you have a roommate or a family when you are moving to Las Vegas, you would more likely than not need two or three bedrooms. The price of a Las Vegas apartment with two or three bedrooms is comparable to the average Las Vegas house. As a result, there is very little reason not to rent a house rather than an apartment. … Continue reading

Las Vegas apartment information

If you are thinking about moving to Las Vegas into a Las Vegas apartment but are unsure of what the fees, rules and regulations may differ in Las Vegas from where you currently live. Many properties in Las Vegas have their own specific rules and guidelines, but following this general information can give you an idea of what to expect when renting a Las Vegas apartment. While fees can discourage you from moving into a Las Vegas apartment, you should also keep in mind that some of the fees are refundable after you move out, as long as you follow tenant regulations. Also, fees in Las Vegas are not there for the sake of making you pay more money; you should know that they are there to cover necessary costs. Las Vegas application Fees: Application fees are predominant throughout Las Vegas apartments. These fees can range anywhere from 25 to 50 dollars. The reason for this fee is for the landlord or owner to cover the costs of running a credit background check on you and verifying the information you wrote on the application for residency. This is also important to discover your apartment rental history both in Las Vegas … Continue reading

What are some important Las Vegas rental tips and things to know about Las Vegas Apartments

Las Vegas is an unusual town compared to most places in the United States. There are a variety of reasons for this; many being the visitors it attracts and the attractions that it offers. Las Vegas is a town that brings in a high volume of tourists and the rate in which they come and go is quite high. Las Vegas is a town that is seamlessly open twenty four hours a day with many different gambling casinos, shows, and resorts. All of these characteristics should be considered with researching about Las Vegas rentals. In addition, with the rapid increase of population every year, vacant Las Vegas apartments are harder and harder to find. 1. Las Vegas apartment rental management Many people should understand that, just like the high turnover rate of tourists coming in and out of Las Vegas, management teams of Las Vegas rental complexes are very similar. Management teams come and go and it is not unusual for Las Vegas apartments to see more than two management teams a year. What does this mean to people seeking Las Vegas rentals? You should expect the quality of service in the Las Vegas apartment to be low and the … Continue reading

Las Vegas apartment searching: Apartment finding service of Las Vegas

Searching for a Las Vegas Apartment can be a hassle. What Las Vegas apartments are available? How much do Las Vegas apartments cost? How do I find a Las Vegas apartment that is situated in an area that is right for me? Finding a Las Vegas apartment on your own can be a nightmare and there are other things that you should be worrying about. Fortunately, there is a service for assisting people in finding a Las Vegas apartment that fits the needs of the client called the Apartment Finding Service of Las Vegas. 1. Why is the Apartment Finding Service of Las Vegas helpful? The apartment finding service of Las Vegas is a useful and valuable tool that offers expert advice. They have been in business for over nineteen years, so they are experienced and qualified at what they do, more so than other services in Las Vegas. Leasing agents at the Apartment Finding Service of Las Vegas know everything there is to know about specific areas of Las Vegas and they are constantly invited to new presentations for apartments that have recently become available in Las Vegas. Over the years there have been many different customers that have … Continue reading

Useful gateways in which to find Las Vegas apartments and Las Vegas real estate

Finding a Las Vegas apartment can be a very stressful and time consuming process, especially if you have never rented before anywhere, let alone in Las Vegas. Do not let this sometimes frustrating process overwhelm you. Consider the steps of renting a Las Vegas apartment, and take it one step at a time. The key points you should think about when looking for a Las Vegas apartment are as follows: 1. By what means could one obtain a list of available Las Vegas apartments? Newspapers can be useful for people and can contain many different advertisements for apartments that cannot be found anywhere else. Unfortunately, this means of searching for a Las Vegas apartment can be limited because owners generally do not advertise in newspapers because of the high costs that come with putting the ads in. Many people nowadays advertise their available apartments on websites. There are specialty websites focused solely on Las Vegas real estate rentals that allow users to view many pictures and descriptions of them quickly and easily at no additional fees or costs (although some may present fees if apartment leases are closed). There are also general advertisement websites, such as craigslist.org. Craigslist receives a … Continue reading

Why Buy When You Can Rent In Las Vegas?

One of the hottest things on the Las Vegas real estate market are apartments for rent. Let’s face it, everyone wants to live in Las Vegas. The Las Vegas real estate industry is always alive and going strong, but there has recently been a new trend that has shifted the market just a bit. When seeking out Las Vegas real estate, it is not uncommon that someone would be searching for one of their apartments for rent. Apartments for rent on the Las Vegas real estate market are a dime a dozen, but are a gold mine. No. 1 If you can not afford to own anything on the Las Vegas real estate market, and you still want to call Las Vegas your home, you should definitely consider the apartments for rent. If you do not want to take on the cost of owning Las Vegas real estate, but still want to live on the Las Vegas strip where all the action is, then you should look into getting one of the apartments for rent. Some people can not dish out the type of money needed to own Las Vegas real estate, but do not cut out your chances for … Continue reading

Live Right Under the Las Vegas Lights!!!

Las Vegas is one of the most popular living destinations in the United States and across the world. Las Vegas is the United States’ western city of lights. If you are looking for an apartment, then finding a Las Vegas rental is the way to go. Las Vegas apartments are the new sought after commodity. Everyone wants to enjoy and be a part of the Las Vegas experience. What better way to do that then to live right among the city action. Las Vegas apartments are more than just a place to live, but a place to explore a lifestyle that you would not otherwise experience anywhere else. What happens in Las Vegas stays in Las Vegas!… and that includes all the fabulous Las Vegas apartments. 1. Beautiful Views A Las Vegas rental features some of the most spectacular views ever imaginable. A Las Vegas rental will undoubtedly have one of the best views that you have ever seen, let alone live to see every day. Las Vegas apartments are in the heart of the city that has all the action, day or night, so there is always something to see. At any given moment of the day, you will … Continue reading

Top 3 Reasons to Move to Las Vegas… With Your Kids

Contrary to common disbelief, Las Vegas is one of the best places to raise children. Unlike what people may believe, there is the opportunity for a child to live a very comfortable lifestyle in Las Vegas. So if you are seeking out apartments for rent in Las Vegas, you will not be at all disappointed. Having a Las Vegas rental will allow both you and your children to enjoy what the city has to offer. In your search for your apartments for rent in Las Vegas, be confident in knowing that you are making a good, sound, healthy decision for both yourself and your family. Just keep in the back of your mind, while looking for apartments for rent in Las Vegas that you will also be extending the opportunity to your child to live a more fruitful, joyous life. No. 1 The first reason that you want to look into getting a Las Vegas rental with your kids is because of the circus activities. The apartments for rent in Las Vegas are extremely close to some of the best circuses in the world. The circus acts boast some of the greatest variety acts there are. Las Vegas circus acts … Continue reading

Get Comfortable in a Furnished Apartment in Las Vegas

Many people come and visit Las Vegas to gamble. Well why not just go ahead and get a Las Vegas rental? If you are a person who spends most of their time living in Las Vegas anyway, you probably want to pick up your things and move there permanently. There are many Las Vegas rentals on the market, but those that seem to be quite popular in today’s society are the furnished apartments. There are many reasons why a person would choose to get a Las Vegas rental, but even more reasons why a person would seek out one of their furnished apartments. Property owners are very aware of this fact so many times when they are trying to rent out their spaces, they tend to market furnished apartments. 1. Furnished apartments in Las Vegas make it so that you do not have to hire an interior designer. A Las Vegas rental would not be a Las Vegas rental without the proper decoration and decor that goes along with it. A Las Vegas rental must have the proper set up furniture that fits the place. When searching for furnished apartments, make sure that the Las Vegas rental is not only … Continue reading