The economy of the United States depends on the Real Estate Market rebounding and Las Vegas should be one of the first to come back. Las Vegas is still at the top as the fastest growing city and major construction projects continue to flourish. Yes, the city has seen a major slowdown in home sales mainly because of Mortgage Market and the inability of buyers to secure a loan. Las Vegas is also at the top in bank foreclosures and there are some tremendous bargains for smart buyers.
We have noticed an increase in activity on our website in the last several weeks and many buyers are telling us that they wish to purchase before the end of the year. Many of the buyers are saying that the interest rates are probably going to go down in the next six months. When this happens, the Real Estate Market should pick up and home prices will start to rebound. We had a client just a few days ago that said she wanted to shop for a home now and have more choices. She said that she heard December was the slowest month in Real Estate so she felt that the sellers would be more receptive to her offers. She was right and purchased a great home in the Aliante area for pennies on the dollar. People in the know in Las Vegas are predicting a housing shortage at the beginning of 2010. Many new Hotels are in the works and business owners are continuing to relocate to Nevada for tax savings among other benefits. As the Baby boomers continue to retire to the Sun Belt, Las Vegas will remain one of the favorites.