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Las Vegas has become one of the top sought after housing real estate markets
| | Thursday, December 16, 2004 @ 11:34 AM EST
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Contributed by: John Michael
John Michael Properties
Read more archived articles about Selling
Emediawire (press release) - Ferndale,WA,USA
December 15, 2004 -- Real Estate over the course of the last sixteen months in Las Vegas has become one of the top sought after housing real estate markets in the country. Homes for sale within the Las Vegas market have seen appreciation rates reach a staggering forty percent in some area’s of the valley during the first quarter of 2004.
During this time in the real estate housing market, Las Vegas homes were selling the same day they went on the market with sellers receiving multiple offers on their properties and buyers paying on average twenty thousand dollars above list price.
Buyers during this period were becoming very frustrated with very good offers not being accepted due to the bidding wars that incurred on every piece of real estate for sale within Las Vegas and our surrounding cities.
Presently however, Las Vegas has become a different real estate market. Homes for sale now are still selling at a very rapid rate and fewer homes are seeing multiple offer situations as the supply for homes
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available in Las Vegas has increased. More new homes have become available and the builders are working hard to keep up with the supply and demand for real estate in Las Vegas.
On average Las Vegas is seeing around thirteen thousand people per month relocating into the valley. This influx in part is due to the tremendous economy and job growth that the Las Vegas valley has produced over the last five years. Because of this influx, the real estate housing market in Las Vegas has boasted some of the best appreciation rates in the United States during this five year period.
As some economists have stated, the real estate housing markets seems to have slowed across the United States other than in Las Vegas. As a testament to this statement, my team of real estate specialist over the last month has received numerous calls and emails from investors all across the country trying to get their piece of the Las Vegas real estate pie.
If you are considering purchasing real estate and relocating to our wonderful city, now is the time to act. Las Vegas real estate cost are increasing at a very rapid rate. Some economist have even predicted back in 2000, that by 2008 Las Vegas could see an increase in real estate housing prices increase by two hundred percent.
Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html
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