The Weather Outside is Delightful
A little twist on the Christmas jingle “the weather outside is frightful,” as the Las Vegas real estate market is turning up the heat in 2018.
Why are we considering the Las Vegas housing market as one of the best real estate investments in 2018? We did some of our own market research, and here is what we found!
Heads up-we even included some Mashvisor real estate analytics so you can be the judge yourself! Read on to find out why the Las Vegas real estate market is the place to invest in real estate in 2018!
Basics to Cover About the Las Vegas Real Estate Market
We want to go over some of the “baggage” and basics the Las Vegas real estate market has tagged with it. To start off, real estate experts categorize the Las Vegas housing market as a “third-tier” market. This basically means that the Las Vegas real estate market is very dependent on the leisure industry. It is no surprise that the Las Vegas property market relies heavily on gambling and tourism to succeed.
Since it does rely on this industry, it becomes vulnerable in the real estate business’ eyes. Real estate market instability is a big worry here when it comes to making money in real estate. An economic bust in the Las Vegas real estate market could have a big hit on real estate investors in that location. A poor market means less consumer spending, and you know what that means.
2008 brought some unpleasant surprises as well. Yes, we know it was 10 years ago, but the 2008 financial crisis made its mark on the Las Vegas real estate market. This crash brought rising real estate prices to a sudden and instant drop. The number of foreclosed homes climbed to an all-time high. The real estate business became a ghost town and was instead filled with real estate investors unable to keep up with their payments.
A whole 70% of mortgages went downhill. What we mean by this is that the market house value was lower than the balance left on the investment mortgage. Scary stuff, we know.
Fast Forward 10 Years
That was 10 years ago. Just when you think a real estate market is out of the real estate business game after a crisis like that, the Las Vegas housing market climbed right back up. That is where the serious value of a rental property market is. To get back up once it’s been beaten to the very bone.
Let’s go over the Las Vegas real estate outlook of 2018. There are a couple of aspects of real estate to look into when you’re considering a specific real estate market. What makes the Las Vegas housing market one of the best places to buy investment property 2018? Let’s go over the key points:
Everyone Wants Some Las Vegas Magic
We don’t blame renters for wanting a little bit of the Las Vegas real estate magic. Demand has been on the rise and more and more individuals are moving to Las Vegas. High demand means higher prices, as supply is limited. The attractively low unemployment rate is yet another reason renters are flooding in. Where the jobs are, the customers come! Everyone chasing after a job will need a roof over their head. That is where you come in. Not too bad Las Vegas real estate 2018!
Are You Ready for Some Appreciation?
No literally, some real estate investment appreciation. Not only did the Las Vegas real estate market just bounce back from that 2008 crisis, but it came back strong! Investment property prices are not at an all-time high as many other U.S. real estate markets. You know what that means (ehm, appreciation).
Even if you don’t decide on selling and benefiting from property appreciation, you can say hello to some serious rental income with all the demand on the properties in the area.
Did Someone Say Tax Breaks?
Of all the benefits of real estate investing, the real estate investor knows just how much tax breaks are a major advantage. Guess what? The Las Vegas real estate market not only gets you some serious return on investment but can even save you some cash on taxes!
First off, say goodbye to personal income tax, as it does not even exist in the Las Vegas rental market. Property taxes on your investment property are a whole 70% cheaper when compared to other real estate markets to invest in. Why not save on those taxes when you can? Invest in Las Vegas real estate to get the advantages of a real estate investment.
Related: How the 2018 Tax Reform Affects Real Estate Investors
The Mashvisor Numbers
We give you a glimpse of some of the numbers the Las Vegas real estate market has to offer.
Related: Airbnb Las Vegas: The City with No Off Season
Those are some good looking numbers for a real estate market that has been through war and back! Use these numbers from Mashvisor real estate analytics to get the push you need. A bit of confidence will take you a long way in real estate. Mashvisor gave you our view of the Las Vegas real estate market, so what’s your next move?
Las Vegas is not the only city you can analyze through Mashvisor. To start looking for and analyzing the best investment properties in your city and neighborhood of choice, click here.
The Las Vegas Real Estate Market is a Warrior
It is no secret that the Las Vegas housing market has its fair share of battle scars after what it went through in 2008. However, that doesn’t mean you should close the door in the face of real estate investment opportunities in the area! With the number of benefits that come with investing in the Las Vegas real estate market, the challenges of real estate are easier to look passed. A couple of obstacles on the road shouldn’t stop you from running to success.
Find Out: Las Vegas Real Estate Market: Invest in These Neighborhoods!
