BluefoxToday blog : Las Vegas still has it

Las Vegas still has it

Valley of FireIt's nice to know that LV can also top lists that are complimentary. Good for the city's image. Some of the recent lists that have been less that desirable have generally been about the local real estate market and mortgage foreclosures tormenting valley citizens. This newest list is in one sense far removed from those, but also has some sort of a tie-in to the housing market here.

It's about new residents moving into Southern Nevada within certain parameters. Relocation.com conducted a study on long-distance, out-of-state moves people do to big cities. And when everything was tallied up it determined that Las Vegas is the number one destination, leaving behind such creditable challengers as Denver, Charlotte, Phoenix and Portland. It's good to be up there, although in a related report released some months ago regarding population growth it had dropped back to number 8, after being among the top three for years, as was reported by the U.S. Census Bureau. Regardless, being among the top ten is nothing to be ashamed about.

One of the factors attracting newbies here is the affordability. Real estate prices have dropped drastically in the last few years, and are still soft, so that a nice home can be purchased for under $200,000. Reasonable housing values were a huge positive factor for the area before the real estate bubble roared in and now that it has dramatically burst, it is becoming so again.

Low taxes provide another incentive. Everybody knows the weather in Las Vegas is rather agreeable throughout, well maybe the summers get a little warm to some, but it's certainly a draw. Many new residents also like the countless recreational opportunities here and none of those have anything to do with casinos. Mount Charleston and Lee Canyon are popular summer and winter destinations and Lake Mead offers water enthusiasts a chance do their thing, just mention a few of them.

The city is poised to grow steadily in the coming years, in particular when the national and local economies turn around.  

 

 

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 12 commentsEsko Kiuru • February 04 2009 01:09AM

Comments

Esko, I agree that Las Vegas is a great place to relocate.  There are some great home values there, and the one thing that is true about Las Vegas, what ever you are looking for, you can find it there.  Good post.  I don't know when we will pass through Vegas again, but we do it at least 3 or 4 times a year.  We also like to just get away and go and play down there.

Posted by Tony & Darcy Cannon, The C Team (Aubrey and Associates Realty) almost 10 years ago

Esko, congratulations on having Las Vegas acknowledged.  It's about time some good news showed up. 

Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) almost 10 years ago

Esko, I had a friend who moved here for a great job offer...she was from Las Vegas and she just wanted to go home---she quit her job after a year and moved back!  And is very happy :)

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) almost 10 years ago

Esko that is a good one to be towards the top on.  If people are moving in, then they will be looking for house to buy, and that is what we all need.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 10 years ago

Thanks for writing about our survey. Many people have expressed surprise that Las Vegas was no. 1, but as you point out, the home affordability issue is huge. Somewhat ironically, the very thing that might create the perception that things are harder in Vegas -- lots of negative press about a hard-hit housing market -- is something that actually appeals to people looking for a fresh start, or businesses looking to relocate or expand. Thanks again.

Tim Johnson

Relocation.com

twitter; timjjohnson

Posted by Tim Johnson almost 10 years ago

Tony & Darcy,

We are ready for you guys 24/7, as you know.

 

Posted by Esko Kiuru almost 10 years ago

Maggie,

Things are starting to look up, finally.

Posted by Esko Kiuru almost 10 years ago

Carole,

Hopefully everything works out well for her there. Come and visit sometime.

Posted by Esko Kiuru almost 10 years ago

George,

Yes, the housing demand column has been sort of thin, so this will help.

Posted by Esko Kiuru almost 10 years ago

Tim,

Any time. Just trying to keep everyone informed and Relocation.com study was perfect for that.

Posted by Esko Kiuru almost 10 years ago

H Eskio:  I actually started to hear people talking about going to Las Vegas for investment properties again.. I am sure you wiill some of them coming...

Posted by Sylvia Barry, Marin and Sonoma Real Estate Leading Expert (Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay)) almost 10 years ago

Sylvia,

That's true. Real estate investors are returning to Las Vegas and that's good news for the overall market.

 

Posted by Esko Kiuru almost 10 years ago

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