Canadians Investing in Las Vegas Property

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.

Las Vegas Investment PropertyCanadians 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.”

  1. Seminyak VillasSeminyak Villas08-18-2009

    hm..do the global crisis impact the house sale in vegas?

    • Jamie MckayeJamie Mckaye04-17-2012

      Yeah global crisis is every where but as you know example “Old is Gold” Gold never die it has capacity to run for ages as like vegas. Vegas is fastest growing country in this world because there are 100 of languages living there and economy wise they are so good

      business angels

  2. hmm…that’s interesting. That is quite the way for a Canadian to travel, but I can certainly understand the allure.

  3. brianbrian08-27-2009

    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.”

  4. Georgiy Kharchenko@creatine supplementsGeorgiy Kharchenko@creatine supplements09-06-2009

    It’s funny how people forget about the dessert when they think of Las Vegas. Real estate prices have definitely gone down but that has not resulted in a maddening surge in number of buyers interested in investing in property. Only the ones who are buying a second or a third home are interested (that’s where Canadians also step in).

    Is there a pattern in people from surrounding states also buying second homes in Las Vegas? With just 25,000 difference in median prices, Las Vegas has definitely threatened Arizona real estate market.

  5. JeffJeff09-13-2009

    Not only is Vegas such a great place for Canadians to pick up a vacation home there dollar has been very nice over the last month or so. Their dollar was almost at .93. That is not as high as a year or two ago when it hit par, but much better than when it was in the high 70′s 6 months ago.

    Besides for the buyers, they are typically older and have grown children who will also use the home. Now imagine your in Canada, freezing your butt off and your folks say, hey lets go where it’s warm to our vacation home. Would you rather sit in an Arizona town that rolls the streets up at 9:00pm or the entertainment capitol of the world. Easy flights, the best restaurants and shopping, entertainment and a lot of fun.
    I work with a lot of Canadian buyers and this always comes into play. Vegas always wins!

    • Janet TaoJanet Tao12-14-2009

      I am a canadian and currently in Vegas on vacation. I have seen some houses and the price is very attractive. I would like to know more about investing here: property management, tax consideration and funding consideration.
      Can you give me some advices? Are there accountants and property management company/agents I can meet while I am here for the next a couple of days?
      Thanks.

      • Nadia@tragamonedas onlineNadia@tragamonedas online01-27-2010

        Las Vegas properties used to be a good investment, are the prices up? I was hopimg one day to retire there. Nice weather.

        • SEOWolfSEOWolf01-27-2010

          Property prices are beginning to climb again however unbelievable deals are still available. At least for now.

  6. I heard two for the price of one in Vegas! Is this true? Is it really that bad down there? The Vancouver BC market is on the up again. If i can bag two homes in one it maybe worth every penny……. long term. Maybe a move South is due!

  7. Tulsa HomesTulsa Homes10-11-2009

    We have had a few Canadians looking in the Tulsa Real Estate Market in the past few years.

  8. JimJim10-30-2009

    If you put an offer on a condo and there is acceptence, does the buyer still have a chance to get out of the deal?

    • SEOWolfSEOWolf01-14-2010

      An attorney would need to review the contract to better answer that question.

      Generally speaking, once all parties agree in writing you have a biding contract unless contingencies were in the offer and contract that we not met.

      If either party to the contract attempts to back out the other party may sue for performance and depending on how the contract is written, a Buyer could forfeit any deposit or “earnest money”.

      Again, I am not an attorney and do not give legal advice so I suggest that you consult with an attorney before taking any action.

  9. The drop in home prices has opened the door to more Canadians buying vacation homes and investment property in Las Vegas, Affordability has put Las Vegas back in the picture of real estate investment once again…

  10. Matt@Romantic apartment sofiaMatt@Romantic apartment sofia12-15-2009

    May be it has been a bit difficult for Canadians to stay over there, that’s why they are considering Las Vegas as their second home.

  11. Kathleen KennaKathleen Kenna12-16-2009

    hi there,
    I’m a freelance writer in Vegas, working on a piece for the Toronto Star (largest paper in Canada) about Canadians buying homes in the Valley.

    Are you selling a lot to Canadians, or getting many inquiries from Canadians?

    Let me know if you’re available for an interview. It wouldn’t take long, and the Star has a million-plus audience.

    thanks for your help,
    Kathleen
    702.539.1250

  12. I think this is not only the story of only Canadians, las vegas is the place where every one wants to live. I like that place becasue it doesn’t need any introduction. Anyways keep it up and keep continue.

  13. jinnie@Guaranteed home salejinnie@Guaranteed home sale01-04-2010

    it’s good news to hear that people are becoming interested in buying new construction again. Hopefully better times are ahead. I guess the prices and features of the homes doesn’t hurt either. Good Luck.

  14. The housing market has practically come to a standstill despite the consequences brought by the economic crisis. Glad to know that Las Vegas still manages to do better.

  15. CosimoCosimo02-19-2010

    I am from Vancouver and bought a 3 bedroom 1500 sq ft condo with 2 car garage in North Las Vegas. You can’t even compare the prices here to the over priced Vancouver market. I am very happy with my purchase, and I am closing another one this month!

    I choose Las Vegas over Phoenix because it has more nightlife here. I am not in my 50s or 60s, I am 39 so I still enjoy going out etc. Th weather is about 5 degrees colder than Phoenix but that is a good thing in the summer! Winters are mild/warm here, especially compared to Canada!

    Also it’s closer and cheaper to fly here from Canada, and those are the reasons that I bought here.

    • EddoEddo05-08-2010

      Just came back from Vegas. I am from Vancouver, Canada.
      Prices are a bargin compared to Vancouver. I would like an investment property or vacation condo there. I am offering on a 2 bedroom condo .. many from forclosures. i am offering $65,000 price. 2 yr ago price was $200,000. It will still take some time for the credit market to loosen there. I found out that people cannot get mortgages for condos in vegas as it is hard to get a home owners cert for approval. Essentiallhy 66% of the condo complex must be owner occupied for banks to approve the mortgage. This means the market is exclusively left to cash buyers (Candians who take out equity from Canada like me). So Canadians are competiing against themselves in vegas for condos. BUT when the credit lifts for mortages to allow for condos, it will mean more buyers with funds to buy condos and it will go up.

  16. Henderson NV HomesHenderson NV Homes03-09-2010

    This is so true. This is why I think it is crucial that anybody marketing on the net doesn’t just market to U.S. customers. I’ve already seen a ton of homes here in Henderson sell to Canadian buyers. Great article.

  17. Everyone wants to live in Las Vegas, this is nice place with casinos, so it’s not surprising.

  18. JennaJenna07-19-2010

    That is quite the way for a Canadian to travel, but I can certainly understand the allure.I have been looking for a nice place to live and came across Utah Homes and I thought it’s nice =)

  19. Here in Toronto I see a lot of people buying or still looking for a second home in Las Vegas, Arizona and Florida. Since I’m on the east side, Florida gets a bit more attention. But in the past few years I’ve noticed that Las Vegas and Phoenix have greatly increased in popularity with Toronto people who want that second home in the sun.

  20. yes I think, the global crisis will be impact the house sale in Vegas. We have been faced same situation on Dream Apartments Vancouver :(

  21. BrennaBrenna01-14-2011

    How is the market these days? I am seriously considering an investment property in Vegas. I am a bit worried and confused about what areas to buy in. How is the rental market in Vegas, which area is attractive for investment and good tenants? As well is it better to own a house/apartment or a condo/suite in a hotel on the strip???

  22. Paul LPaul L03-13-2011

    Would a condo be recommended for a Canadian trying to buy a winter home, as it might be easier to maintain when not there 11 months of the year? Or maybe a townhouse part of community complex if looking for something larger like 3bedroom 1100sq/ft?

    Is it possible to rent some of these $30000 homes to make it an investment property instead? Can anyone recommend any organizations offering services to manage these properties?

    What are the typical costs for maintaining a home in Las Vegas used 1 month/year. ie property taxes on a $30k home, other taxes and fees, property managers, other surprise fees

  23. Total CurveTotal Curve04-27-2011

    There are still excellent opportunities. A friend of mine just bought a fantastic place in Vegas and moved from Hawaii. It was all about the income tax to her and with the price of homes it was too hard for her to resist. I wish I had the extra investment money to buy some real estate in Las Vegas.

    Selina

  24. VanVan05-17-2011

    Hi there, I’m from Vancouver. I went to Vegas many times to check properties for investment reason. but one thing is still not clear… Could anyone help my question about tax issue for foreign investor?
    If Canadian buy property in Vegas, do we need to pay 30% of gross rental income minus expenses as a TAX to US?
    How about when we sell, need to pay 10% TAX to US?
    Appreciate for help!

  25. de-clutterde-clutter10-10-2011

    Las Vegas is one the fastest growing cities in the country – number one in employment growth, with thousands of new residents relocating to the Las Vegas valley each month. For this reason, investors are choosing the Las Vegas area to invest their money in all types of real estate.

    http://www.de-clutter.org/

  26. Massage chair reviewMassage chair review10-13-2011

    I think that investing in a small unit like that might be a pretty good thing to do if you can stand the agravation of managing it, and if there are any of those small units around anymore. I couldn’t tell you where the best location would be because I haven’t lived in an apartment for 30 years, and don’t pay attention to the small units. I’d think you would probably want to stay west of Decatur.

  27. Home FinderHome Finder03-25-2012

    This is great place for home. Investing a house in a low cost is a dream.

  28. RealhomesestateRealhomesestate03-30-2012

    I believe that Las Vegas belongs to one of the highly developed cities of which real estate business is growing in huge number. Glad to know that investments are also rising. Keep it up!

  29. It’s great to see Canadians taking advantage of these great deals! Although I’m wondering what a sound investment it will be in a few years – there seems to be a significant lack of water in the area. Definitely some beautiful properties, though. I can see the appeal!

  30. A few of my Canadian clients have invest in US real estate. Vegas does seem to be a popular choice. Whats funny is that they use their “Vegas Trip” as a business expense when they go down south. 

  31. Results RealtyResults Realty05-14-2012

    Been a fan of yours for a long time! Keep up the great work!

    Written By:Results Realty(702) 685-9999805 S. Rainbow Blvd.Las Vegas, NV 89145

    results@rrvegas.comhttp://www.rrvegas.com

  32. Website of biologyWebsite of biology06-05-2012

    This is great place for home.

  33. Mark BritonMark Briton10-20-2012

    Our UK tax avoidance schemes and tax planning makes use of existing tax laws to help you drastically reduce or eliminate the amount of tax you pay , Bespoke tax avoidance plans are created in a number of ways. A popular method of tax avoidance is a legal tax avoidance schemes that is created by Britain’s best tax experts that legally create a paper loss that you can set against your income.

  34. I know a ton of people buying vacation homes in Vegas. The market is just so cheap there right now, especially compared to our strong market in Saskatchewan.

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