Posts Tagged ‘Purchasing a Multi-Family Unit’

Multi-Family Units in Las Vegas, NV

Tuesday, April 6th, 2010

Las Vegas is known for the amount of sheer fun and excitement that visitors can have upon their arrival at the entertainment capital of the world. However, Las Vegas is also a great place to live and raise a family. And Las Vegas has some of the best multi-family units available for everyone’s price range.

Now is the perfect time for people looking to relocate to Las Vegas to make the move as housing prices have decreased by almost 50% from three years ago. If you are a real estate investor, this is also a good time to buy multi-family housing properties, as foreclosures and short sales has made many units available at below market prices.

Some of the better multi-family units in Las Vegas are located just off the famed Strip and provide for an easy commute for anyone who is employed by a casino. There are some beautiful modern-style houses that are priced well under $100,000. Some of these multi-family units also have great amenities like swimming pools, enclosed patios, and golf course views.

If you’re looking for units away from the hustle and bustle of the Strip, the outlying areas of Las Vegas as well as locations such as Paradise, Winchester, Spring Valley, and even North Las Vegas have some of the most outstanding multi-family unit houses that you will ever see.

By looking at some Las Vegas realty sites, you will get a quick indication of just how much of a buyer’s market the city of Las Vegas currently is. Whether you want to rent part of a multi-family house or you are looking to own a multi-family house, now is the time to check out Las Vegas for some really good values on really great properties.

Multi Family Property in Las Vegas

Thursday, March 18th, 2010

While many markets located across the United States have been negatively impacted by falling housing prices, Las Vegas seems to have been among the hardest hit of them all.  While the median sales price in the Las Vegas area skyrocketed between 2004 and 2007, the bubble eventually burst.  The median housing price, which maxed out at over $300,000 in early 2007, has since fallen to less than $150,000.  While the housing prices have declined, they appear to have finally stabilized as housing prices have maintained around $150,000 for the past few quarters.

Just like condos and single family homes in the Las Vegas area, small multi-family properties have also fallen in value.  Investors and home buyers who are looking to purchase a quality multi-family property will have many options to choose from.  Also, due to the high rate of foreclosure and short sales in the Las Vegas area, there are many qualified individuals looking to rent an apartment unit.

Purchasing a multi-family property is always an excellent investment opportunity for anyone looking to build long-term wealth.  If you are able to afford a two or three unit property, you could possibly rent the units out at a level high enough to cover your entire mortgage payment.  This would then allow you to live essentially payment free.  With housing prices in the Las Vegas area at extremely low levels and with rents at high levels, purchasing a multi-family property that would allow you to cover your bills has never been easier.