Las Vegas is still one of the fastest growing cities in the United States. There are many reasons for this but the fact that Nevada has no state income tax ranks high on the list. The “Baby Boomers” are starting to retire and Las Vegas is one of their picks. Las Vegas also has one of the highest foreclosure rates in the nation and it’s a Buyer’s Market to say the least. If you are new to the area, you really need to do your homework. The Las Vegas Valley is very spread out and location is key. It can be close to a thirty mile drive from one end of the town to another. It can take you a good hour each way so choose wisely if you don’t like a long commute. Home prices are starting to rise here and have been for the last few months. This is a good sign for the market and we still have plenty of inventory. Your best bet is to find an experienced buyer’s agent that knows the town well and will look out for your best interests. Here is a list of things that should help you find that special home at a fantastic price.

• The first step is to get pre-approved with a local lender. Find the price range that you feel comfortable with and stick to it.
• Bank owned foreclosures are dominating the market. Take advantage of these once in a lifetime values.
• Interest rates are at the lowest levels in 50 years. If you don’t buy now, you probably never will.
• Air-conditioning is getting more and more expensive. Look for a home that has energy efficient building materials.
• Look for A/C units that are rated high in efficiency. The newer, the better.
• If the home has low E windows, it’s a big plus.
• The direction the home faces is important. Windows facing direct sunlight will increase the temperature dramatically.
• Many of the newer homes are on smaller lots. If you need RV parking, you may need to look in more established areas.
• Many of the bank owned foreclosures are in need of repair. If you are handy, your time has come.
• Do not ask the banks to make repairs. These homes are being sold “As is”.
• Remember, the goal is to make an offer that gets accepted. If the home has multiple offers, you may need to offer more than the asking price.