2008 has a surprise up to it's sleeves... and you should be ready to grab the opportunity.
FACTS:
- Mortgage interest rates remain low, at historical levels, lowering the cost of buying a home. (Economists and other experts generally agree that rates are unlikely to fall significantly in the near future). The average cost of a 30-year, fixed-rate loan is 6.21% according to Interest.com's latest weekly survey of major lenders taken Dec. 19. That's up from 6% just two weeks ago, but it's almost exactly what we were paying before all the problems began last winter.
- Southern Nevada's economy remains stronger than most metropolitan areas, with steady job and population growth. Clark County added more than 96,000 new residents in 2006. That has a direct impact for the long-term strength of the local housing market. The Las Vegas valley continues to be a leader in job creation and has one of the lowest unemployment rates in the nation. (Over the next three years nearly 20,000 hotel rooms will be added to our city, representing approximately 41 billion dollars worth of new construction).
- These economic factors create a demand for housing and offer more opportunities for new comers and existing residents to own their own home.
- Recent increases in foreclosures present great opportunities for buyers. When lenders are forced to foreclose on a property, they "mean business" and typically are motivated to sell that property as quickly as possible to recoup their investment. This presents bargains for buyers.
Southern Nevada still offers attractive real estate investment opportunities. Examples include high-rise properties being built as part of MGM MIRAGE's CityCenter and similar billion-dollar developments on and near the Las Vegas Strip.
All markets are cyclical. But with privately owned land being scarce in the rapidly growing Las Vegas area, history and the laws of supply and demand suggest that prices will appreciate in the coming years.We have never been more informed about the housing market than they are today. Unfortunately the general view about real estate as a short-term investment, similar to the stock market, has had unhealthy impacts on the housing market.
Arina I saw her on the World music awards and they said she was wrapping up her Las Vegas gig.
I bet she will be happy to get out in the open road again.
The rat pack was cool!
regards
Tom Braatz
Tom, Roberta ; I apologize for removing the post and replacing it. I will write a better review about her last show with photos and movie clips latter. I'll keep your comments and move them to the new post. Thank you for coming by... Really!
#7 - You get to call my good friend "Arina" to help you with your Real Estate needs! She is an excellent agent and loves to help her clients find just the right home!
Merry Christmas!