Las Vegas Market Going Through Changes

I am interested to hear people thoughts on the Las Vegas market.

We have many new factors to consider when predicting the market in the upcoming future. Some of the topics I was looking to get more info on are:

-New legislation passed here in NV AB300, SB321, also the new law that will allow underwater homeowners to short sell their homes to themselves without an "arms-length" transaction disclosure being required.

-Hedge funds leaving Vegas

-New/higher home prices combined with lower rental rates causing lower CAP rates and cashflow

-The 80,000+ homeowners that are in default

-The spike in NOD's being filed (Las Vegas is currently the 2nd leading city for NOD's being filed.

These are just a few of the factors our local market is currently facing. Due to these factors it is hard to predict the market going out further than then next 6 months. I would expect prices to rise over the next 6 months. After 6 months it gets tricky as there are so many factors that will come into play. It will be interesting to see how it all plays out. I am looking forward to hearing everyone's input on these and other topics concerning Las Vegas.

READ THE ENTIRE ARTICLE HERE: http://www.biggerpockets.com/forums/99/topics/92124-las-vegas-market-going-through-changes?page=1#p578713

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com