October Las Vegas Real Estate Newsletter from eRealty

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October 9, 2012

October Las Vegas Real Estate Newsletter from eRealty

High-risk borrowers and under-valued properties may not seem like the way to to a speedy recovery of the Southwest’s real estate market, however, for Michael Shustek and his new investment fund, MVP REIT, these problems have created a unique opportunity to profit off some of the hardest-hit markets across the US. This Las Vegas real estate investor is hoping to raise up to $550 million to buy commercial mortgage loans and commercial properties. Maybe high risk strategies are what this market needs to see a positive change in the commercial real estate sector.

Learn More at HispanicBusiness.com

While there is still a long road to a full-blown housing recovery, applications for building permits hit a high in July for the first time since August 2008. Las Vegas is evidence of a positive turn in the housing recovery due to a rebound in the market of shovel-ready land. The re-sale on this land, while still a high-risk strategy, is showing signs of success as many national home builders are taking advantage by  partnering with investors to develop new tracs.

Learn More at Reuters.com

It comes as no surprise that the Las Vegas Valley was one of the hardest hit in the housing crisis but what about the commercial sector? As vacancy rates continue to slide, rents are dropping and there is minimal construction. The Las Vegas economy is showing signs of improvement with staffing levels expected to rise and more tourists/conventions steaming in however, will that translate over to the local office sector? An improved housing market should cause a spike in the demand for office space but it will be long road to recovery.

Learn More at Loansafe.org

The good news is that as the Las Vegas housing market is continuing to shift from foreclosures to short sales the median price of homes is increasing as well for the seventh month in a row. While we are seeing the first double-digit increase for year-over-year prices since 2005, there is also a struggle to find inventory.

Learn More at LVRJ.com

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