Las Vegas - Hot Market
Last year, my wife and I moved to Las Vegas at the urging of my little Brother. For years he has been telling me what a HOT real estate market it was here.
My ONLY regret thus far is that we didn’t take the plunge a couple of years ago. Moving from the slow pace rural real estate market in Missouri to the middle of a “Boom” real estate market here in Las Vegas was like accelerating from 0 to the speed of light in 6.2 seconds.
Being a 13 year (my wife) and 8 year industry veteran my wife and I are adapting well, however it would have been nice to settle into the market a few years ago. Starting a race is always easier from the “Starting” line. I feel like we entered the Indy 500 (in progress) driving a 1968 Volkswagen Beetle (scary).
Doing the research in the local MLS and in tax records, the “Boom” started about four years ago, and has escalated to a fevered pitch since the fall of 2003.
I have seen properties jump 30% plus in many areas of Las Vegas, Summerlin, Henderson and Green Valley just since November of 2003.
Within an hour of placing a home on the MLS last week, we had 20 calls. Within 24 hours we had 5 offers well above the asking price.
Fortunately, God has smiled on us and has helped our websites Las Vegas Real Estate and All Pro Realtors - Las Vegas Real Estate to start really bringing in more buyers and listings.
The fact analysts have predicted this trend to continue through 2008 has Real Estate Investors swarming in from all over the country.
I hope a few more Vegas REALTORS will share there thoughts here or if any real estate professions wish to tell about their “Hot Market” experiences and how they are dealing with it, we would love to hear about it.
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