We are at the bottom now
John Vanhara I really believe that we are at the bottom of Las Vegas real estate market. I think that prices will go up and the deals you can make now will be not available in 6-12 months. I just want to write it down somewhere so I can say later.. I said so:-). Or that you can prove me wrong (in case I am wrong). But honestly I cannot image that it can get better than what we see now.
1 BD condos - $30,000
2 BD condos - $40,000
3 BD SFR - $90,000-$110,000
I am only checking newer homes (with less requirements for maintenance) and west area of Las Vegas. I prefer west to Henderson and East, but that is my personal choice as our office is located in west part too.
Popularity: 18%
April 3rd, 2009 at 6:04 pm
It looks like the heavy speculative areas such as yours and Southern Califoria, Florida Nevada and maybe Arizonia are bottoming. The huge decline in price may have offset itself and the consolidation has begun to solidify into a more agreesive market. We can only hope. Other areas, the large metro and surrounding areas on the east coast seem to be getting abid also. Maybe the light at the end of the tunnel is not a train.
May 21st, 2009 at 7:09 pm
As an update to my last comment, your area has really posted sales with these low rates and prices. Our area in Bergen County New Jersey has also picked up. Lets hope it can stay for a while.