I was having lunch with a friend recently and she was asking me about the current Las Vegas real estate market. I was probably going into way more detail than she cared to hear about, (I doubt she’ll ask that question again) but I was trying to explain that being in real estate for over 20 years I had seen many peaks and valleys. And just like the Zen story of the old man who experiences gifts and setbacks, his response of “We shall see”, works well for our current market. I think there are advantages and disadvantages in every market, right now there are certainly advantages for buyers, there are many more choices now and there is greater potential to buy more home for the money than in previous years. However if you bought a home in the last 3 or 4 years, your home may not have any equity at this point.
The gift is finding the golden opportunity that this market has brought and I believe there is an abundance of opportunities. I’ve seen many of my agents have their best year ever in this last year! I also think this is a great time to buy and I am actively looking for another property to purchase myself. As far as what do I think about what has happened in the Las Vegas real estate market……we shall see, we shall see…
February 21, 2008 at 3:56 pm
I think it is a great time to buy also. I hope many people qualify for loans so that this is possible. This inventory will be there for sometime. So first evaluate your status for qualifying for a loan. Having a steady job 2 years, good fico score, money saved for deposit. A gift from family is okay and now your ready to start by seeing what you qualify for and with that knowledge you can best find the property that will meet you needs.