Wednesday, November 23, 2011

More housing market investors focusing on Las Vegas

 
 

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via HomeFinder.com News oleh HomeFinder.com News pada 11/11/22

A growing housing market trend of investors capitalizing on low home prices and the strong demand for rental properties has turned its sights on homes for sale in Las Vegas, HousingPulse reports.

The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey reported on the increased activity of investors buying up real estate-owned properties, fixing up the properties and then renting them out.

This growing trend can be attributed to the falling prices of REO properties in comparison to non-distressed residential properties. In October, the price of a real estate-owned property averaged $101,100, while non-distressed properties averaged $266,700.

"Renting single family homes is an extremely viable option and seems to be a growing trend in the valley with the decreasing of prices," a real estate agent from Nevada told HousingPulse. "Our inventory is dropping so we are seeing more investors becoming aggressive with their offers."

In addition, the report predicted that many investors are buying up houses and will rent them out until the property values start to rise again, at which point they will re-sell the home for a profit. 


 
 

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