Las Vegas. Las Vegas real estate, again proves to perform best. Due to persistent inflation and rising mortgage interest rates that have plagued potential homeowners throughout 2022, the housing sector countrywide has been facing a number of challenges and setbacks. Although Las Vegas is not immune to these problems, market analysts point out that the city is now proving to be far more cheap than much of the nation.

 

• Interview from Las Vegas Real Estate expert.

In a recent interview, Las Vegas real estate expert Kirby Scofield said that despite the economic hurdles in the way, people can still get a great deal in Southern Nevada if they’re willing to put in the effort because the area features a special set of circumstances that can be advantageous for homebuyers. 2022 is rapidly approaching its final month.

““We have four casinos going up, two more sports teams supposedly going to be announced and thousands of jobs coming into Las Vegas, that means people are going to be moving…moving means buying and selling homes,” he said.

• Which factors are helping Las Vegas real estate? 

Slowly declining property prices and less competition for the available inventory are variables that are helping the Las Vegas real estate market. According to Scofield, this condition can make it possible to get a decent deal on a purchase even though current home loan interest rates are above 7 percent.

 

According to Scofield, buyers should look at houses that they can afford based on current interest rates, but they should also bear in mind that the challenging market is forcing sellers to make concessions, which can reduce the overall amount of money you have to invest in a deal.

 

Additionally, according to Scofield, some first-time homebuyers may be eligible for a Federal Housing Administration (FHA) mortgage, which only needs a 3.5% down payment.

After reading the above points, one shall invest in Las Vegas real estate in order to enjoy whopping profits. 

 

“ “Utilize that it’s currently a buyer’s market to get seller concessions to buy down the points, and pay for your closing costs and get keys for the home you deserve,” he said. “More homes available in FHA limit, double than we had in inventory in January alone of every home total in Vegas.”

Triumph Property Management is a Las Vegas Real Estate and Property Management Company specializing in the areas of Las Vegas. Feel free to give us a call at (702) 367-2323 so we can answer any questions you may have.