Vegas: The New Frontier

Unless you have been living in Siberia, you know that Real Estate is on fire in many places around the country. In fact, you would be hard pressed to find a city where this was not the case. Las Vegas is one of those places that property values keep spiking upward, with no end in sight. The real spike came over the past 18 months. The city remains a juggernaut, chewing up raw land by the minute.

Unlike many other markets, which are being falsely inflated by nothing more than buyer frenzy, Las Vegas has many solid factors behind its ascent. When so-called analysts speak of a possible Real Estate "bubble", Las Vegas is not one of the places included. Looking at the factors behind the growth leads one to the understanding of how undervalued Las Vegas really is.

Solid Indicators

I. City Growth ? Las Vegas has been growing by leaps and bounds for decades now. It is not some flash in the pan city that has started to grow just recently and not one that will stop any time soon. There are currently 6,000 new residents each month. Going by the actual numbers and not faulty percentages, Las Vegas is one of the top growing places in America.

II. Land Scarcity ? One of the main factors behind home appreciation is the land value. When land in a desired area is in short demand (or completely accounted for), value goes up. The city of Las Vegas is running out of land. At first glance it might seem like there is a lot of land left, but when you factor in how fast the city grows, land is in short supply. It has been estimated that the city will be out of land within 4-5 years. Hot areas like Summerlin have all their land accounted for.

III. Job Growth and Diversity ? Las Vegas leads the nation in getting educated workers to move to the city. Tech oriented jobs are on the rise. Qualcomm recently broke ground on a new facility in North Las Vegas citing their belief in the area and the work force. The Las Vegas area is experiencing tremendous job growth and will continue to do so.

IV. Home Sales ? Even with the glut of new home developments, Real Estate is still climbing upward and being eaten up at a furious pace. The resale market alone experiences over 3,000 sales monthly of homes and approximately 700+ condos monthly. The new development market is very hot. People literally camp out waiting for a new developer to open up the waiting list. It is not uncommon for new developers, who have not even built one model, to have a waiting list of 6-8 months almost instantly. New high-rise condo developments, like Donald Trump's new towers are being sold hand over fist.

The median home value in Las Vegas has climbed just passed $300,000 and it will go higher, much higher. As of this writing, the market is favorable to buyers, but that will change as soon as next year when inventory falls. If you would like to learn more about the Las Vegas market, view more articles at my Real Estate (JakeTruman.com) web site. I fully expect the median home price in Las Vegas to top $500,000 in the coming 2-4 years.

Copyright 2005 JakeTruman.com

Jake Truman is a Real Estate & Stock investor and Credit informer. Website: Real Estate. He has published a book on Credit Help, which is available at his website.

---

Do I Need A Real Estate Survey?

Getting a survey before you close on any real estate... Read More

Mechanics Lien on Your House

In many places you can buy a house and a... Read More

Getting Started in Real Estate Foreclosure Investing

Decide to Invest in Real Estate Foreclosure InvestingWith the increase... Read More

FSBO Novel Preface

PrefaceWe are For Sale By Owners, "FSBOs." We spend our... Read More

Find the Right Apartment Quickly and Easily Using an Apartment Locator Service

You've probably seen the ads or heard about apartment locators.... Read More

10 Important Tips to Successful Real Estate Investing

When it comes to investing, everybody has certain goals and... Read More

Commercial Income Property Financing: Part 1 of 3

Welcome to this first portion of a three-part series about... Read More

Selling Your Home on Your Own ? Examples of Problems and Solutions

What can go wrong? About a gazillion things, but this... Read More

The Many Ways To Profit From O.P.P.s Multiple Cash Streams

In a previous article we introduced you to the concept... Read More

The 5 Biggest Mistakes Made When Getting A Business Appraised

Most business owners will, at some point, want or need... Read More

How Home Buyer Rebates Work

In today's tight housing market, many buyers are looking for... Read More

Building A Home? Want To Ask A Builder The Right Questions - Not The Dumb Ones!

These are real builder questions that I got from readers... Read More

4 Dangers In Flipping Real Estate

If you have recently purchased some real estate for investment... Read More

Real Estate Disputes And Partition

What if two people pooled their resources and began investing... Read More

An Ideal Way to Purchase Your New Home without Strict Banking Regulations

You've searched high and low around town looking for that... Read More

Personal Branding Techniques for Real Estate Agents and Brokers

Branding can be done to any product, or any person.... Read More

Selling Your Home In The Winter

In many parts of the country, selling a home during... Read More

Seller Financing - Six Safety Tips

Why offer seller financing when you sell? A higher price,... Read More

Think You Can?t Afford Your Own Home, Think Again!

Do you have bad credit, no credit, filed a bankruptcy,... Read More

What is a Foreclosure?

A foreclosure is an action taken against a property owner... Read More

Unravelling The Real Estate Buying Process in Canada

If you're a foreign national thinking about investing in the... Read More

Preparing To Make A Zero Down Offer

I'm going to focus... Read More

5 Hot Tips for Successful Real Estate Investment

The last downturn of the global stock market saw millions... Read More

Getting Ready to Sell Your Property

We all have had the experience of someone important coming... Read More

Maui Realtors: What You Need To Know

Maui is a great place for families of any size.... Read More

U.S. Real Estate Sought By Foreign Investors Due to a Weaker Dollar

The weak US dollar has been good news for real... Read More

Do You Want To Sell Your Rehabs Fast?

That's an obvious question ? we all do! So what... Read More

Strata Title Hotel Investments

Want to know why Strata Title Hotel Investments can be... Read More

Using Color Psychology to Sell Your Home

When painting your home for resale, choosing the right colors... Read More

Getting Raw Land, Not a Raw Deal!

There is more to buying raw land than meets the... Read More

Building Your Dream Home - Part 1

For most of my adult life I had thought about... Read More

Secrets of Making Money from Real Estate - Part 1

There are three investment vehicles which can make you rich.... Read More

Real Estate Appraisal - Do It Yourself

For single family homes, there are two basic methods used... Read More