Second Home Purchase
Why Purchase A Second Home-FAQs
Second Home Buyers Come In All Shapes and Sizes
Because the Las Vegas real estate market has experienced increased home appreciations, significant growth, and national notoriety, people from many walks of life are moving to Vegas. Second home buyers include retiring “Baby Boomers” looking for a golf course property, couples and families searching for a vacation getaway, and the investor seeking to add another condo to their real estate portfolio continue to buy homes, condos and townhomes in the greater Las Vegas area.
Is It Time To Get Off The Fence?
If you are "sitting on the fence" about investing in the Las Vegas home market, read the questions below. The answers will help you as you explore your second home options.
Question – “ Lisa, the national newspapers are filled with doom and gloom stories about the real estate market hitting bottom. My retired husband and I enjoy coming to Vegas and we would love to buy a condo for the convenience of a vacation home on the Strip. While we think we are financially prepared to buy, we fear our property value will decrease if we make an investment in a second home now. Do you have any advice for us?”
Answer – In terms of the national scene, yes the real estate market has experienced a “correction” and in some areas prices continue to fall. Frankly, some locations like the Miami condo market for example were “overheated” and long overdue to return to a balanced market. Think of it this way, as a second home buyer you now have the luxury of having many condos to choose from. If you need to finance a home, interest rates are affordable. Appreciation rates in our market have not experienced the wild swings of other markets. All in all – now is a great time to buy!
Question – “ Our family is grown and we desire to purchase a second home in one of the gated age restricted communities. While no one can foresee the future, do you have a sense where the existing home market in Las Vegas is going on the short-term?”
Answer – Who wouldn’t love to gaze into a “crystal ball” foretell the future of the Las Vegas real estate market? As a local real estate expert, based on historical data and according to others with their finger on the economic pulse of Las Vegas, this area is experiencing solid growth and there are no signs of it losing any steam any time soon. The housing market, while at times somewhat sluggish, has been historically robust in recent years. If the local economy continues on it's current pace, the Las Vegas real estate market has a bright future ahead.
Information is Power!
Because we always desire to help educate second home buyers, it is recommended you request your complimentary Las Vegas Market Outlook. Providing relevent information and current statistics, this market outlook is invaluable to anyone thinking about buying real estate in Las Vegas. Request your Market Outlook now.