Las Vegas Property Market and Real Estate Guide
(Las Vegas, Nevada - NV, USA)
Las Vegas in known throughout the world for its racy nightlife and the bright lights of its casinos. Despite its reputation as America's 'Sin City', Las Vegas is also a great place to live with its good schools, pretty parks and friendly neighborhoods.
There are plenty of apartments for sale, as well as condos, new builds and resale homes to buy, and with the current property slump in America, some real bargains can be found. As a premier business destination, Las Vegas also attracts long-term renters.
Buying in Las Vegas is generally a good investment, and condos and second homes are still selling well in the city's urban areas. Downtown Las Vegas and the Strip are popular for high-rise condominiums, whereas many large, gated communities can be found in Summerlin. Las Vegas is also home to many specialised communities known as master-planned neighborhoods, where affordable and luxury homes come within a self-sufficient environment.
Renting Serviced Apartments
Serviced apartments in Las Vegas can be found all over the city and most complexes are high-rise buildings with their own pools, spas, gyms, sports facilities and children's playgrounds. The prices of gated developments depend on the area you choose, but tenants should typically expect to pay between five and ten percent for community charges.
Both long-term and short-term contracts are available and tenants will normally be required to pay a deposit of between one and three month's rent. A separate deposit for expensive furnishings may also be required.
Buying Apartments and Houses
Foreigners buying in the US will not find any restrictive laws, but just because you own a home, it doesn't automatically entitle you to residency. You will not have to a hire a solicitor when buying in Las Vegas, since title companies will deal with the transaction. You can also sue the title company if anything goes wrong.
Properties in the downtown area and along the Strip can yield very high rental values, although they are frequently expensive and hard to find. Affordable homes can be found in Las Vegas Valley and Henderson, and many of these often have a decent amount of land attached. South Las Vegas is where most of the celebrities hang out and there are a number of luxury 'desert contemporary' properties here.
Real Estate Agents
As a foreigner buying in the US, it is important to learn the real estate semantics. For example, a detached house is known as a 'family home' and 'apartments' are for rent only. You can buy from either real estate agents in Las Vegas or directly from developers, and most new-built communities have their own onsite offices.
Transactions normally take around seven weeks to complete, but you can exchange in less than a month if you buy a repossessed property with cash. Expect to pay around five percent for agent fees.
Check out the following Las Vegas realtors and real estate agents:
Century 21 Consolidated
Address: 2820 Flamingo Road, Las Vegas, 89121, Nevada, USA
Tel: +1 702 732 7282
C12 Consolidated caters to a diverse range of tastes and budgets in Las Vegas.
Address: 1333 North Buffalo Drive, Suite 190, Las Vegas, 89128, Nevada, USA
Tel: +1 702 768 3656
Dale Hayen has properties to buy and rent in Las Vegas and good advice on his website.
Address: 2921 North Tenaya, Las Vegas, 89128, Nevada, USA
Tel: +1 702 326 0119
Icon Reality sells everything from condos to family homes.