I have been at this real estate buying thing since 1980. Real life experience in the real estate combat zone has taught me there are two times to invest in real estate: when things are plummeting and when things are recovering.
As anyone who lived through the Las Vegas Real Estate Apocalypse (my scientific term) knows, house prices fell way beyond economic reason. InDecember 2011, which turned out to be bottom of the market, you could buy a home for the price of the land and pay for one bathroom. The rest of the house was free.
In January 2012 I sold a townhouse to a couple retiring from Cali for $103,000. Today the same unit next door is listed for $200,000. That's a pretty nice return for 57 months.
Of course, you missed the train on that strategy. Fortunately, you can catch the second train.
Yes, Virginia, Las Vegas is recovering...nicely. Today the Nevada Department of Employment, Training and Rehabilitation reported that 1,301,300 Nevadans have a job. (There are only 2.7 million of us and there are a lot of retirees here.) That number surpasses the pre-Apocalypse top employment number of 1,297,600. Better yet, our state has enjoyed 68 months of consecutive growth.
People get more confident when things get better. It's a good time to buy or sell because things are stable. If a bubble does start brewing, this time know better and cash in your chips!
P.S. Call, text, email, send a carrier pigeon when you are ready.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
First, the facts:The median price of resale homes in Las Vegas hi
"My partner and I hired Jake Soteros to be our real estate agent last year after deciding we wanted to invest in the ever evolving downtown Las Vegas housing market. I immediately thought of Jake, since he has been immersed in the downtown scene as a business owner, and also a resident, and definitely has his finger on the pulse! After completing two home purchases over the course of 4 months, having spent the previous 2-3 months searching for just the right properties, I can honestly say that Jake went above and beyond my expectations as a real estate professional! The process of searching for, making offers on, and navigating the contract process can be a roller coaster, to say the least, and Jake's calm and confident demeanor, and his knowledge of the market really helped us to maintain our sanity through some stressful times! And since we travel and work a lot, there were a couple of occasions when Jake acted as a stand-in when we weren't able to be present for an inspection or a repair. I have already referred a good friend that was interested in buying a property downtown to Jake, and she is really enjoying working with him, as well. After our first house closed, celebrating over Mexican food and margaritas, Jake told us that "cheesy as it may sound", he loves helping people reach their goals, and seeing them happy is really gratifying for him :) That absolutely comes through in his work! We are definitely happy, and ready to celebrate that second closing when you are, Jake!"