Las Vegas Housing Market
The Las Vegas housing market is known for foreclosures, short sales, being upside down or underwater.
You should add incredible deals for first time home buyers.
To see what homes are selling for in your neighborhood, and become familiar with what the market is doing, you need to find Las Vegas houses for sale in your neighborhood.
Find Las Vegas Houses In Your Neighborhood
The easiest way to find homes for sale in Las Vegas is to use sites such as HomeGain, Foreclosure.com, and RealtyTrac, which all specialize in foreclosure homes.
All three sites have great tools that make understanding the real estate market in your neighborhood simple, so go check them out!
How To Buy a House in Las Vegas
Once you have checked out the sites above, and decide that you are ready to move forward, the next thing is to figure out how to buy a house.
Our guide 7 Steps to Buying a House for the First Time Home Buyer goes through the home buying process step by step, and will serve as an easy template to buying your first house.
We recommend first checking your credit score rating to make sure you have the minimum score to qualify for a loan. Once you know that, you can go on to find a Realtor.
Find a Realtor
You can find a Realtor one of three ways – referral from a friend or family member, open houses, or online.
One great site we recommend is ziprealty.com. They have done a fantastic job of making it easy to search agents in your area. You enter a zip code, a list of agents with their photo pops up, and you can contact an agent directly via email to get more information to see if they fit your needs. Check ziprealty.com out now!
If your are looking for houses, Las Vegas represents a unique opportunity for the first time home buyer with the price of homes being below replacement cost. And if you have any interest in housing, Las Vegas is a market to watch.
According to RealtyTrac, a leader in the real estate tracking industry, “Las Vegas posted the nation’s highest metro foreclosure rate for the year, with more than 12 percent of its housing units receiving a foreclosure notice in 2009 — more than five times the national average. Las Vegas reported a quarter-over-quarter decline in foreclosure activity in the fourth quarter — as did all the other metro areas with foreclosure rates ranking among the top 10 for 2009.”
Good deals will be found in Las Vegas housing for some time to come. To find out more about how to buy a house or finding a Realtor make sure to check out our guide “7 Steps to Buying a House for the First Time Home Buyer.”
Good luck on your hunt!