Investing in a Las Vegas Property
Las Vegas real estate is very predictable to a degree. Several factors indicate where the market is headed next and those who identify those factors, act, and accomplish will reap the financial rewards. The only factor that is not predictable is exact timing. There is no crystal ball. However, general timing is easier to foresee.
For example: when Las Vegas housing inventory is below normal, buyers entering the valley remains basically the same, interest rates drop, and the California market is strong, what is going to happen? People are going to buy and the sellers have the advantage. Likely prices will rise in the near future. An investor would already be poised with several properties.
Another example: Las Vegas inventories are at a record high, interest rates have moved up, California has a flat market, buyer numbers are down, what will happen in the near future? Values will either go down or remain constant. Good investors have already sold because they saw the cycle and they weren't greedy. They sold before the market took a turn.
Last example: the Las Vegas market has been flat for months but values have not decreased, interest rates are reasonable, California is still flat after months of speculated bubble bursting, some values have decreased there but no bubble has burst, the job sector remains strong and buyer demand is still high. What is going to happen in the future? Prices will likely rise. Good investors are buying in anticipation of the next cyclical price increase. They are looking for people who are in trouble due to their poor decision to buy when they should have been selling.
Wise investing signs are all around. What can the economy accomplish? are the jobs growing? are people moving into Las Vegas generally or leaving? what is California doing? what is the Fed doing with interest rates? how are inventories?
Look to the present to plan for the future. Often you have to go against the grain. If people are buying in frenzy then sell. If no one is buying then buy. There are great deals out there and you can get them. People make 10s of thousands of dollars with each transaction even after all of their closing costs. In some cases here in Las Vegas people have made 100s of thousands of dollars on one property.
Talk to your qualified real estate agent and put your plan together so you can succeed in Las Vegas real estate investing.