Real estate investors are making some strategic moves into the Las Vegas real estate market as the word gets out about the increase in foreclosures in Summerlin, Las Vegas.
Of all the home buyers in Las Vegas, about 38% of those buyers are real estate investors according to the most recent statistics. This is an increase of 33% since the real estate market experienced collapse. There are many real estate investors that are coming from outside of the United States to buy foreclosures because they see the potential investment.
These savvy real estate investors are taking proactive measures by going to old neighborhoods such as Summerlin, Las Vegas to buy up repossessed and bank owned properties after doing a price assessment and comparing it with other homes in nearby neighborhoods.
The real estate foreclosures that range from a few thousand dollars to $150,000 seem to be the hottest ones that are being taken. These homes appear to be more affordable because the investors buy low and will sell a little higher or just have them reasonably rented.
Some of these real estate investors are long term players because they know the market will revive itself and they would rather invest their money in a market that is giving them an average return of 9% annually than enter in a volatile stock market with less return.
Foreclosures in Summerlin, Las Vegas is becoming their prime prospect because of less competition in that area and the much discount on these properties. The prices of home in that area have dropped considerably to as much as seventy percent. These homes are being sold as fast as they are foreclosed because investors have seen the potential.
Most of these homes are being rented to some of the same people who are going through the foreclosure process and need a place to live. Flipping homes is probably not the wisest thing to do right now in this volatile market unless you get a really low discounted home that already has a ready buyer.
In the city of Las Vegas, there are homes that are currently being held for new construction in the next eighteen months. So the economy will be revived by new jobs that will be created in this process, but until then real estate investors are taking advantage of foreclosures in Summerlin, Las Vegas.
It is because of the forecast for the subsequent months coming that is propelling real estate investors to begin accumulating real estate wealth to meet the demand that will be sure to result from this.