(Source: Dallas News)
Priced to insane levels at the top of the bubble, lots of Las Vegas real estate is now available, cheap. If Las Vegas is where you’d like to be, someone else’s disaster may be your bargain.
The National Association of Realtors says the median Las Vegas home price declined from $317,400 in 2006 to $181,700 by last December. The decline is confirmed by the Case-Shiller index for Las Vegas: It is down 44 percent from the 2006 peak.
The city has one of the highest foreclosure rates in the country. Jobs are disappearing. People are burning their cars for the insurance.
Read about Scott Burn’s new real estate techniques in the article “In Las Vegas real estate, someone’s loss is another’s gain” (Dallas News, April 5, 2009).