Living in Las Vegas Newsletter

Las Vegas Valley Home Prices have basically fallen off a cliff -- which, of course, means it is a great time for buyers.   The prices now are as much as 50% off the peak prices and may be a "once-in-a-lifetime" event!

Foreclosures continue to be a significant part of home sales.  Most of the resales were foreclosed properties.

Condo prices are astonishingly low because there are so many foreclosures on what were speculative investments, rather than condos people bought to actually live in. The peak average price was reached in June 2006.  Now it is almost "name your own price". 

High-Rise Condo Buyers.  If you are planning to buy a high rise condo, you would be advised to look at resale condos.  There are many on the market and many of these have never been lived in. So you may get a virtually "new" condo for a very, very attractive price.  You may also find that new condo builders are less interested in negotiating a reduced base prices -- but are willing to offer incentives such as upgrades.

Taxing News. Currently, Nevada has no personal income tax, no inheritance or estate taxes.  Property taxes run about 1%.   The Nevada State Legislature recently placed a cap on the amount property taxes can increase based on rising property values. 

What Las Vegas Neighborhoods Do Real Estate Agents Find Most Desirable?   Desert Shores and Summerlin tied for #1 in a recent survey of Las Vegas real estate agents.   

Where Are the Neighborhoods Located?  If you would like to know where various communities are located in the Las Vegas Valley, click here for a neighborhood map that will give you the general location of Summerlin, Siena, Lake Las Vegas, Green Valley, The Northwest, Henderson West, Sun City Anthem, etc.

For information about small lot sizes, click here.