I encourage and like to publish guest blogs so my readers could see different point of views regardless of whether or not I agree with the guest bloggers reasoning.
The following guest article was contributed by Richard Hemby who frequently writes about online degrees and college related topics for Online College Guru, a directory of online degrees.
Recent figures from real estate analysts ZipRealty Inc. indicate that the inventory of unsold homes in Las Vegas decreased by fifty percent in January 2010 as compared to January 2009, providing evidence for what many believe is the stabilization of the housing market in Las Vegas. Home turnover has continued to be brisk despite falling prices and the nationwide housing industry crisis; Las Vegas has seen double-digit property value declines over the last few years. Because inventories of unsold homes are shrinking and Las Vegas foreclosure rates are also decreasing from their record highs, a number of economic experts including the regional firm Applied Analytics believe that the Las Vegas housing market has finally reached its bottom, and that housing prices are unlikely to fall further in the area.
One of the most desirable neighborhoods in the Las Vegas metropolitan area is the Henderson/Green Valley area. Henderson, a city in its own right, offers the convenience of close proximity to the employment and entertainment options available in Las Vegas while retaining much of its small-town charm and folksy atmosphere. Henderson residents enjoy a low property tax rate and the neighborhood features a good mix of condominiums and single-family homes. The Green Valley Ranch development is especially sought-after for its exceptionally low crime rate and beautiful natural scenery. Buyers should be cautioned, however, that these suburban homes are typically more expensive than homes in other areas, and thus may not build equity as quickly in today’s distressed real estate market.
The Estates at Seven Hills, located in Henderson, also provide outstanding location while preserving natural beauty and a quieter, slower-paced lifestyle than the frenetic pace of downtown Las Vegas. The championship Rio Secco Golf Course is one of the prime attractions in this collection of upscale, gated communities. Plentiful green space and planned parks provide recreational opportunities throughout the area. Prices range from around $200,000 to over $2 million for luxury homes in this desirable area.
New home construction continues in Summerlin, an upscale housing development comprising a number of individual villages and located in the western portion of the Las Vegas area. This master-planned community is designed to offer residents a serene and active lifestyle in picturesque natural surroundings; the community is framed by soaring mountains and offers easy access to the local hiking and walking trail system that leads directly to the Red Rock Canyon area. Because each village is designed to provide a somewhat different lifestyle experience, prices for these homes range from about $180,000 in some areas to over $2.5 million for luxury estates in the Boulder Ridge development.
These homes represent a sensible real estate investment in most cases, due to their continuing desirability. Most analysts believe that the worst of the housing downturn has already passed in Las Vegas, so now is the time to buy, before housing prices begin their inevitable upturn once again.
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Related Web-site pages: Investing in Las Vegas, Henderson and North Las Vegas real estate.
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