About Las Vegas' C2 Lofts

Buying and selling means more than finding a real estate agent to do the work that is needed. There is also the need to make sure that you know what you want or need when you are moving with the investment. No matter what the market, there are always different moves that you can make in order to get the right person moved in to your property.

Leasing is one of the several ways that you can move into a real estate investment. If you are having difficulty selling your home or property, then you can consider leasing as an option instead of selling it. If you decide to use the lease option for the property, then it means that you will become the landlord for a period of at least one year. The tenant will have a contract that is signed for this amount of time that says to take care of the property and pay rent. After the time period is up, the tenant will have the option of buying the property from you.

If you are considering buying a home, this is a good first step to get into. You will have lower payments, will be able to build your credit, and will have the option of trying out the property before you buy it. If you are selling the property, it can also be beneficial, as it allows you to demand a higher price and move into a better market when it is time to sell. Usually, by the time you are ready to sell, you will be able to offer a price that is ten to twenty percent higher than it would have been a year before.

If the market isn't right, you can't sell your home, and the right options don't seem to be walking through the door, then leasing is a second option that you can consider. By leasing the property, you will have the ability to profit on either side of the fence. www.702listings.com

Here is what buyers received in seller paid concessions on September 2009 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:

• Less than $500: 65% ($500 only buys you a home warranty or (no and) an appraisal
• Between $501-4000: 17%
• Over $4001: 17%

This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory!

Last Month's Concession Stand

We have seen the Las Vegas, NV high rise real estate market as a challenged market with an abundance of resale inventory. For several reasons:

• Too many speculators in that market. They want to close n flip. They are not interested in holding, renting or living in them. Each time a building closes, we see an increase of inventory.
• Mortgage market madness has reduced the amount of loan products available to jumbo, second, vacation or investor type property owners. The ones who have very little money down and marginal credit, that is. So the buyer pool for both resales and new went kaput. Loud and hard too.

Here are the high rise stats:

Rentals:

• 432 Listed 12/29/2008
• 10 Under Contract 12/29/2008
• 33 Leased November 2008
• 9.8 Months Inventory

Resales:

• 706 Listed 12/29/2008
• 25 Under Contract 12/29/2008
• 8 Closed November 2008
• 88.5 Months Inventory (=7.4 years)
  

Rental inventory has increased from the last report. Resale inventory absorption rate has gone up by 1 year in one month. THis is how volatile this market is. Read last month's report here.

This report is compiled by using data from the GLVAR MLS. Data is gathered by the "VERTICAL" field and the "RESIDENTIAL" field using "CON" as subtype and "HIGHRIS,LOFTLIV,PENTHSE" equals any for building description. Information is deemed reliable but not guaranteed.

Read the most current market report for the Las Vegas High Rise Sector right here.

If you are thinking about buying or renting a high rise condominimum in the Las Vegas area, please call 702-966-2494. Press 1 if you are a buyer or press 2 if you are a renter. For financing options press option 3. For selling or leasing/property management press option 0. We will not list condos that have not yet closed with the builder or are not interested in contract reassignments. Para español presione el cuatro.