Thursday, September 28, 2006

Las Vegas boasts the hottest housing market

Las Vegas boasts the hottest housing market

Sep 27, 2006 01:50 PM PDT

In addition to being the casino capital of the United States, Las Vegas also boasts the hottest housing market. Home inventories continue to grow after more than a decade of red-hot activity - up 17-percent during the month of August.

And while many homes are appreciating in value, it's still a buyer's market. We spoke with the President of Coldwell Banker, Jim Gillespie. He told us the Valley remains a place where real estate is a smart investment.

"Las Vegas is an area where people want to live in, make sure there's good home appeal," said Gillespie. "But long term - real estate is a solid investment."

For those of you looking to buy a home, be ready to bargain with sellers. Many home-sellers are standing firm on asking prices because many have financed those properties at 100 percent financing. In addition, they want to get full equity out of their home in order to purchase a new home of their own.