Las Vegas: An investorâs playground
Now is a good time to buy for those looking to invest in the Las Vegas real estate market. Houses for sale in Las Vegas are being claimed quickly, as the metro saw the highest number of homes sales over the course of a month in the past few years. With new-home transactions reaching a four-year high and resale activity the strongest it has been since 2005, homebuyers may be able to find a great deal, according to DataQuick.
The news source reports that absentee-buyers, a group largely made up of investors, made up 48.2 percent of all resale activity in the metro for February 2012. While this is down from the 52.6 percent seen in January 2012 and the 56.7 percent number seen in January 2011, it is still a significant amount.
Buying up these properties is not a bad idea. The future home returns on these investments are estimated to reach record highs. Data from Local Market Monitor showed that real estate investors in Las Vegas will earn a 4.7 percent higher return on their investment than the national average.
Investors may wish to check out key neighborhoods on the MLS listings in Las Vegas to determine which areas are showing the most promise.