As a native of the Las Vegas/Henderson area, having sold real estate for many years prior to the crash and today as the housing market has recovered, I have remained bullish on real estate in Southern Nevada. Now more than ever for so many reasons, there has never been a better time to invest in Las Vegas real estate.
While Las Vegas has always been a tourist and convention destination, it is becoming a world class city because of intelligent city objectives, technologies and infrastructure like automated vehicle testing, transportation framework ventures and the development of an Innovation District in downtown Las Vegas; the opening of the UNLV School of Medicine, advancement of the encompassing Las Vegas Medical District, a graduate school at UNLV that is catapulting in the national rankings, and the expansion of significant national sports franchises including the Vegas Golden Knights, the Raiders, Las Vegas Lights, the WNBA Stars and another stadium for the Las Vegas 51s; and ideally soon, the improvement of a top notch art museum to supplement the prospering arts group made by the Smith Center for the Performing Arts and the 18b Las Vegas Arts District.
The city’s economy is improving, while tourism has returned and outperformed pre-recession numbers as the Las Vegas Convention and Visitors Authority gets ready to put more than $1.4 billion to the redesign of the Convention Center District which will guarantee our city remains the world’s best convention space for quite a long time to come. Tesla’s move into the state says a lot, as well as Switch’s’ advancement and extension of its critical data centers in Las Vegas
While real estate in Las Vegas is always uplifted by the city’s universal appeal, it’s especially strong today because of prices that are highly affordable relative to other markets. Credit for this achievement is the immense convergence of home buyers from both Southern and Northern California who are escaping their state’s high taxes, horrible traffic and high home costs — in return for better quality of life and lower cost of living in Nevada.
Housing market aside, Southern Nevadans appreciate unparalleled access to top notch recreation like Red Rock Canyon, Lake Mead, Mount Charleston and close-by national parks within a half a day’s drive; outstanding higher education; improving public education and remarkable private schools; exceptional governance, and a business-friendly environment. And, now, we’ve added a huge dose of professional sports to the mix, including a second NASCAR race.
Costs are obviously on the increase here in view of increased employment and a reduction in housing inventory, as announced as of late by Standard and Poor’s CoreLogic Case-Shiller national home value record. Las Vegas is still making up for lost time to numerous other metropolitan zones that recuperated all the more rapidly from the financial downturn. That means there are still many great values to be had in Las Vegas and Henderson with exceptionally good buys in both the single-family and multi-family housing markets. And, with interest on the increase, there has never been a better time to buy a home and invest in real estate in Southern Nevada.
Please call me if you would like to discuss any interests or questions you may have about the current market conditions in Clark County