The past few years has brought many negative real estate articles and even so called experts that say it is no longer wise to own real estate. All these negative articles usually signala market bottom and I can see the smart money has already begun investing in significantly marked down real estate that is in many cases priced below replacement cost. Here are a few excellent reasons why it still pays to own luxury real estate in Las Vegas: 1. Homes are on sale – prices are down 50% in many cases and prices are back to 1990s levels. 2. Funding is cheap – mortgage rates remain at generational lows and the future looks like they can only be higher. Now is the time to lock in that inexpensive long term financing 3. You can go green – purchasing a home that was built in the past few years will usually lead to reduced energy costs and a home with better building materials in it. 4. Economic signs are flashing recovery – when unemployment drops and foreclosures subside, we will return to appreciation. Those that buy at the bottom will benefit the most. As always, use your local real estate expert to make sure you purchase in the right location and at the right time!
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