Whats the real problem with Las Vegas real estate?
I am here to announce that the bottom of the Las Vegas housing market is here. Let me explain why I believe this to be the case, and why now may be the best time since the great depression to be buying up real estate, especially in the Las Vegas market. In late 2006 and early 2007 the Las Vegas real estate market hit its all time median price high of around $320,000. Shortly thereafter, the now infamous “credit crunch” began in late summer 2007 and the entire economy, especially the housing industry, has been reeling backwards ever since. Over the last 18 months, the median home price in the Las Vegas valley has dropped an average of $10,000 per month…settling in at around $125,000. Prices have literally plummeted by as much as 75% in some segments of the Las Vegas market. And guess what? The free fall is over. They are not going to go down anymore. I understand that this is a bold claim. But there are several factors that you must evaluate when trying to determine the bottom of a hous
