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2018 Las Vegas housing market - What’s coming this year in Las Vegas real estate

Written by Posted On Wednesday, 10 January 2018 23:56

2018 Las Vegas housing market - What’s coming this year in Las Vegas real estate

Now that we’ve had a recap of where 2017’s Las Vegas real estate market has brought us, let’s look at what many experts expect to happen in 2018. In December 2017 Nationwide Mutual Insurance released a report that said Las Vegas home values are over 25% away from their peak. While many areas of Las Vegas have recovered from the housing market crash, there are still areas that have a ways to go to reach their pre-crash value. As these less expensive areas gain value, the other areas and communities in Las Vegas will as well, meaning 2018 could be a year that sets many Las Vegas housing value records.

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As one of the worst hit cities by the housing market crash, many have kept an eye on Las Vegas to see how they would recover from such a “bubble burst.” As many eyes that hadn’t paid attention to Las Vegas before started to tune in, many are seeing the huge profit potential the Las Vegas real estate market has to offer new and experienced real estate investors. With many investors with their eyes on Vegas as well as many companies moving to Las Vegas to take advantage of low regulations and no state income tax.

There are those who fear another housing bubble is building in Las Vegas. They don’t believe the trend of rising home prices can be sustained especially at the rate they’ve been rising. They believe this rise is just part of the Las Vegas real estate market roller coaster and that prices will drop significantly once disaster strikes. Many expect this disaster to be the banks releasing their foreclosure inventory all at once. However, many believe that banks have learned their lesson and will release their inventory slowly. Another bit of key information about bank’s foreclosure inventory is that many of the homeowners in these homes have merely defaulted on their loan, and many homes are stuck in pre-foreclosure. During the crash many banks purchased loans from other banks, but are currently stuck with many homes that are in default but they cannot foreclose due to recent laws that require them to have all loan documents. Many of the banks that purchased loans were not able to retrieve all loan documents from the bankrupted banks and will be stuck with these homes until the owner chooses to sell or the laws change. There have also been new government organizations that have been formed to stop a crash from happening again.

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Many Las Vegas and Henderson residents are hopeful that the roller coaster that the local real estate market has been on for years is at an end, and home prices will rise and stabilize. What gives many residents hope is the exodus from California to Nevada of businesses, trained and professional individuals, and other skilled workmen. Las Vegas residents are hoping that more companies that are not dependant on the entertainment industry and more residents will stop a crash from happening again. The Raiders football team is a great sign for these Las Vegas residents as many feel it is one step closer to putting Las Vegas on the map as a stable city.

Whether or not the Las Vegas real estate market roller coaster is over, many are looking to Sin City to take a gamble in it’s real estate market. With many projecting that Las Vegas has a long way to go to reach its peak prices, many know that there is still money to be made in Las Vegas. Flippers found last year to be a fantastic year to make a profit and are ready to buy, fix, and resale Las Vegas houses in 2018. Investors are also making their bet on Las Vegas real estate as many are purchasing homes cash to rent out and potentially cash in when Las Vegas hits its peak. Will Las Vegas see a 25% increase in home values and reach its peak in 2018? It would be a high goal to reach, but many are excited to see what 2018 brings for the Las Vegas real estate market.

Find out what happened in Las Vegas real estate in our 2017 Re-cap! 

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