This entry was posted on Wednesday, November 14th, 2007 at 10:53 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Is It Time To Buy Las Vegas Condos
The real estate market has really Sloan down over the past year. It’s a great time to buy and we’ve been looking at condos in the Las Vegas area. The Vegas area is booming with condos for sale and the city has everything for us to enjoy. Lot’s of shopping, entertainment and did I mention my business has an office there.
To buy a condo in Las Vegas is the right time. We were there a few weeks back and they are practically giving them away. Condos that used to sell for $300K are now going for $185K. Last year we almost bought some property in Henderson up in the Madera canyon area. This is a beautiful area that has some great views of the Vegas skyline.
The only question now is should we wait a few more months to see if prices go down more. I’m thinking the bottom of the housing market will not happen for another 4-5 months. I think the same condo that is selling for $185K will probably sell for $165K by then. The problem with new condos is that the owners have bank loans that are kicking in and they need to sell some units to make the payments on their loans. So selling way under is just a need to survive for the owners and they will make there money back when the market rebounds in a year or so.
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