Las Vegas Real Estate Investments - Las Vegas Real Estate Investors
Las Vegas Real Estate Investment Information
| Below we have put together some links for both serious and
beginning investors with information and resources that will help
them make informed decisions about the market in Las Vegas. Multi family investors have become very interested in the Las Vegas market because supply - due to condo conversions and demolition for redevelopment and population growth - has not been keeping up with demand for the last three or four years, creating a ripe market. As a result, occupancies are running in the high 90% range and rents are rising at a 4% annual clip, a trend that is expected to sustain itself given subprime mortgage meltdown and the fact that while supply is catching up with current demand, it is not catching up with the backlog from previous years. Condo conversions have taken 20,000 to 21,000 rental units off the market and redevelopment has taken another 6,000 to 7,000 units. Major local rental operations are running as high as 96 to 97% occupied. Historical multifamily construction deliveries for the Vegas Valley average 7,000 to 8,000 units per year, with absorption tracking pretty closely. In 2005, however, new supply was negative by up to 4,000 units. And while 2006 didn’t see negative supply, it also didn’t keep up with demand and the same is true for 2007, according to local market reports. Also read about the new book "Are you Dumb Enough to be Rich?" which highlights why NOW is the time to buy for serious investors. And how Forbes rates Las Vegas as one of the top 10 cities to invest in. |
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