In October, we had much of the same with regard to Las Vegas real estate news as we have in recent months. Las Vegas home foreclosures continue to drop, which is a sure sign of an economic reboot in the Vegas Valley. This is great news for homeowners, and while home values will continue to rise steadily, it will take 4-5 years or more for home values to “reboot,” as one analyst put it.
It’s not just housing that’s showing improvements. Commercial real estate has shown improvements in recent months as office rental spaces have filled up due to low rents and an increase in small mom and pop businesses around our city. What we’re also seeing now, however, are fewer changes in ownership. This is evidence of a steady economic improvement in Las Vegas, with many new business start-ups popping up every week and the excitement surrounding the downtown revitalization product spearheaded by Zappos CEO Tony Hsieh. Additionally, the long-stalled retail district project in Summerlin is starting up again. Expect to see the Shops at Summerlin Centre very soon!
If you’ve ever considered a career in real estate, now is the time as property values continue to steadily increase. Contact us today for information on how to work as a real state agent with eRealty.