The Spangler Group

The Las Vegas real estate market is constantly changing.  In 2011, we were sitting above 14,000 housing units for sale.  Approximately 50% of all homes for sale were short sales and most real estate agents were caught in a learning curve.  Somewhere around 25% of the homes were bank owned.  There were investors down at the auction buying and flipping.  If the home wasn't a short sale or a bank owned home, it was most likely an investor who was looking to turn a quick 15 to 20% return. 

 

As we were turning the page on 2011, we noticed the incredible rates of returns investors were getting buying and holding their properties as rentals.  Rates of returns were climbing to some of the highest in the country.  Now it's 2012!   Government intervention has caused housing inventory levels to shrink.   The buy and flip has converted to the buy and hold.  Investors who were able to purchase homes at the auctions for 25% margins are now finding it difficult to clear 15% margins before rehab and sale.  According to Trulia,   Las Vegas is America's #1 Price-to-rent Ratio city!  Today is the best time to buy rental property in Southern Nevada!

 

 New laws have prohibited banks from foreclosing on homes without proper ownership documentation.  Trustee companies who foreclose on homes on behalf of banks face felony penalties if they file a notice of default with a sworn affidavit under false pretenses.   As a result, housing inventory has dropped to 5 year lows.  As of April 2012, we have less than 6500 properties for sale in Southern Nevada.  With high investor demand, traditional demand doesn't have to be that strong to still create a rush on existing properties.  We are seeing multiple offers on almost all available homes.

 

We are experienced and knowledgeable about whats trending in Las Vegas Real Estate.  We experienced the rise and fall of real estate in Southern Nevada.   We believe in educating our clients and investors on the merits of each potential transaction by insuring they know as much if not more than we do about the process. 

Call us today at 888-999-8449 or local at 702-604-2106 to discuss your goals.

Sean Spangler at Realty One Group | Promote Your Page Too