Despite lower interest rates, lenders appear to be holding the line on lending. Unlike the go-go days of the early 2000's when money was flying to any and all looking to make a buck flipping property, lenders have taken a very Conservative stance in the face of lower rates.
It appears the next 12-18 months is going to be very difficult in markets like Las Vegas... Here a huge influx of investors drove prices to unsustainable levels. those left holding property and needing to sell, are paying a heavy price.
The market should find equilibrium in time as the city enjoys the fastest growing job market in the country. 6000 new residents relocate to Vegas monthly chasing those jobs. Those buying property in this market should be fine long term. The key is buying quality, and of course location. One quaility location to consider is Red Rock County Club.
Located on the western edge of the city and backing up against Red Rock Canyon national conservation area, this community consists of approximately 1300 homes surrounding two Arnold Palmer golf courses. Prices start under $700k and progress into the millions. Security is paramount in the community.
We are Tom Garcia and Amy Garcia of Luxury Realty Group and The Garcia Group. We are also residents of Red Rock County Club. we can be reached at (702)360-6645
We specialize in Luxury Property in The Ridges Las Vegas, and Red Rock Country Club Las Vegas, as well as luxury high-rise condos in the Resort Corridor.
www.LuxuryHighRiseCondoDeals.com
"Your Premier Las Vegas Strip Consultants"
Copyright 2008 the Garcia Group all rights reserved
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