Las Vegas Real Estate
Las Vegas is a bustling city, with a population of about 500,000 and an estimated 60,000 new people moving into the area annually. Like with most of the U.S. market, housing prices are down. The price of real estate in Las Vegas depends greatly on the area, and as of July 25, 2008, an average home in North Las Vegas will cost $182,013 USD. Downtown Las Vegas real estate costs an average of $181,073 and the prestigious Anthem/Seven Hills area will set you back an average of $381,996.
Las Vegas Condominiums
Condos are on the rise in Las Vegas. Currently, there are over 80 projects on the go in the area, with many more to come. Condominiums are a great first-time investment opportunity and are a wonderful choice for small families, young professionals, and retirees. The majority of condominiums in Las Vegas are modern, clean and safe, with many of them offering 24 concierge service, swimming pools, underground parking and exercise facilities. Luxury condominiums, which usually start around $400,000 and go up to the millions, normally offer maid and valet services, along with incredible, 5,000 sq ft penthouses and breathtaking views. Like houses, condos can be bought as long term investments, but some also offer short term rentals, often in the form of one year lease contracts.
Las Vegas also has quite a few beautiful townhouse condos. They tend to be larger than the traditional condominium but still offer amenities, like lawn care, housing insurance and, at times, concierge service and public swimming pools. Townhouse condos tend to have lower condo fees and much more storage space, and generally start at around $180,000.
If you want to be in the centre of all the action, you may want to consider investing in a condo right on the Vegas Strip. The Cosmopolitan Resort and Casino is a prime sport for real estate. It is neighbours with the Bellagio and has over 64 stories. Other condominiums on the Strip include the MGM Grand, Turnberry Place and the Vegas Grand. Prices for housing in this area normally cost $500,000 - $5 million.
Las Vegas Homes
One of the most difficult things about purchasing a home in Las Vegas is choosing the right neighbourhood. Las Vegas has quite a few bustling neighbourhoods, and you're sure to find one to suit your individual needs. Many local real estate agents offer neighbourhood tours, and if you're serious about investing in Las Vegas real estate, you should consider employing one. They'll be able to answer any questions you may have and will be able to show you a few "hidden gems" that may go unnoticed on a traditional internet search.
The Summerlin area is a perfect choice for the outdoorsy type, as it has 12 major parks (and 50 smaller ones), miles of biking and hiking trails, golf courses, tennis courts and community swimming pools. Located in the Vegas Valley, Summerlin is a wonderful place to call home. Its schools are top notch, has many bustling local business, and the area is safe and affluent.
Another area of interest is Desert Shores. Located just 20 minutes away from the Strip, Desert Shores is prefect for those who like to be near the water. Here, all of the homes are close to the lakes and are built in a Spanish style. Desert Shores was built in the late 1980s and has 5 large man-made lakes in the area with affordable lakeside housing. It's a perfect sport for those who like to boat, fish or sit by the water and daydream.
If you're looking for a brad new development, try the Lone Mountain area. This area is considered up and coming and offers affordable housing - perfect for newlyweds and families that are just starting out.
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