What is happening now?

Well, there is a hot demand believe it or not for the affordable homes in nice areas of Las Vegas…even a bidding war on homes from $70,000 to $160,000 price range.

Homes in a higher price range…you might find good deals from the banks on bank owned properties…the only concern that could bring a further drop:

1. Banks are still holding onto a lot of inventory

2. So pick carefully, negotiate a great deal so you don’t lose out!

Cheers, Maria Gudelis

Lake Las Vegas

There is an interesting real estate media trend going on right now in Las Vegas, the newspapers and realtors “hungry” for a commission are saying sales have gone up, they are getting more than one offer on their listings and the offers are coming in at 103% of “BPO” (Brokers Price Opinion). 

This leads one to believe, wow, we’ve hit the bottom, now is the time to buy.  REALITY NEWSFLASH:  Las Vegas Real Estate will go down yet another 6% to 10% as we still have a HUGE number of unsold inventory in the MLS, foreclosures are still happenning faster than a speeding bullet…and there frankly just aren’t enough buyers right now. 

My bet is that in four years, Las Vegas will be in a demand cycle yet once again primarily caused by simple supply and demand of the Vegas job market.  All the new casinos being built will be coming online and for every person that is hired by a casino, you multiply that by 4-5 to get the real increase in population caused by that new job being created.  You can read more about the future forecast at my website, Maria Gudelis.

In the meantime, expect further price declines, only buy if you can get 10% below TODAY’s (not last years) market value…by next summer, 2009 is when the market will be more stabilized as the state of Nevada has the fastet foreclosure rate…going into foreclosure pain faster…but coming out of it faster than any other state.

One may think that there are no buyers in Las Vegas and a bad time to invest.  However did you know that there are bidding wars on a certain price range of homes right now in Las Vegas?

I will write more about those type of deals to be had!  Maria Gudelis

This is a blog about latest breaking news by Maria Gudelis on real estate across the world.  From Ecuador to the United States, coverage of real estate market trends and investments can be discovered here.

For instance…did you know their is two incredible ways to make money with real estate in today’s 2008 real estate market?  Both ways vary like two sides of a pendulum, one requiring little money to invest and the other way, though simple, requires a minimum of $1,000,000 cash and averages $100 Million purchases!

Stay tuned for more information brought to you by Maria Gudelis.