Canadians Are Investing Heavily in Las Vegas Property
Today, more and more Canadians are investing in Las Vegas property whether for a second home or for investment property. At one time, Canadians looked for homes and investment property in the state of Arizona; however, with prices of homes drastically lower than ever in the Las Vegas, many are now looking to buy in the Las Vegas area.
Canadians like other investors in the US are realizing that now is one of the best times to find a wide array of properties in the Las Vegas area at prices that are practically stealing the property. A matter of fact, finding awesome properties that at one time sold for $400,000 is now selling for $200,000, what investor in his right mind would not jump on the chance to buy investment property in Las Vegas.
For anyone looking to purchase investment property in Las Vegas including Canadians, you will need the expertise of a local real estate agent that will be able to show you all the communities in and around Las Vegas that are available. Some of these homes are in sought after communities such as Summerlin, Green Valley, Henderson, Lake Las Vegas, and Seven Hills, to name a few. Not only will an investor be able to choose the location of their rental properties but also the style the property they desire including ones on a golf course, age restricted, ranches, condos, townhouses, and gated communities.
As you look for your second home in Las Vegas, you will need an experienced Las Vegas Realtor that will be able to find the home that fits your lifestyle along with all the amenities you deserve. For any investment property search, you need a Las Vegas real estate agent with talented negotiating that will stay one-step ahead of your competitors. Owning investment property in Las Vegas is an excellent opportunity as many people have the desire to live in the area where they are quality educational opportunities, fun family activities, several employment options, and summer like weather year round.
Canadians are looking for property in Las Vegas for all of the above reasons. Dennis Smith, the president of Home Builders Research stated, “I think we are getting more Canadians than in the past simply because of the affordability,” …“I have been talking with some of the sales and marketing people of builders, and they tell me more Canadians are looking at properties.”
Smith went on to explain that the “median price of resale homes in Las Vegas in February was $145,000, which as stated by Smith numbers is down $10,000 from January and $90,000 from February 2008. That contrasts with the $120,000 median resale price in Phoenix.”
D.R. Horton a builder in the Las Vegas area stated, “Affordability has put Las Vegas back in the picture,”…“For a long time, I think, when (Canadians) think of Arizona, they think of desert and warm weather. When they think of Las Vegas, they think of casinos. They forget about the warm weather and desert.”
Tom Deinet, a Realtor with Century 21 Barrett stated that, “Properties are selling for half what it would cost to build them,”…“You will never see this again.”