We’re continuing to see some good news in Las Vegas as the home foreclosure rates continue to drop. Vegas’s long reign as #1 in foreclosures in the country has ended, as our city’s foreclosure rate dropped by 61%, putting us at 9th place in the country for foreclosures in a city. Read more from 8 News Now!
As the foreclosure rates continue to drop, the home values are finally rising! After the housing crash finally bottomed out, the value of homes in Las Vegas and across the United States are steadily rising. Experts have predicted that we should see a home value increase of about 1.4% by the beginning of next summer. Read more from Fox 5!
While home values may be increasing, Las Vegas office rent has fallen into a seven year low, according to real estate experts. With bankruptcies and loan defaults soaring, more and more office space is still sitting untouched and vacant. Filling these spaces has been a challenge for Vegas real estate agents and property managers; however, we’ve seen that these low prices in rentals has been both a blessing and a curse for the Vegas Valley. As office space rentals go down in price, hurting property owners and managers, it opens doors for new small business start-ups and mom & pop shops around Las Vegas. Read more from Las Vegas Sun!
For more valuable real estate news from eRealty in addition to helpful tips in having a successful real estate career in Las Vegas, be sure to visit the eRealty Blog at eRealty360.com and check out our social spaces on Facebookand Twitter.
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