Residential Real Estate

Who is Buying and Selling Real Property?

It's no secret that there are more and more Wall Street investors who have entered local real estate markets like ours in Las Vegas.  They are not only buying up huge blocks of residential homes, they are alos solidly in the commercial real estate (CRE) market.  It used to be that small investors were an importan block of buyers in both market segments, but things are changing.  Why?

Land Market Timing

Land markets, like most real property markets, react to what is effectively a “mob mentality.”  Everyone hears about big gains, they rush into the market until the “next greater fool” theory has exhausted the buyers, the market turns and then immediately many of the new owners want out.  That’s when the rush to dump land holdings begins and the roller-coaster is on the way down.

2013 Las Vegas Apartment Market

The fact that almost all of the top 20 most viewed Las Vegas properties listed on Loopnet have been multi-family residential properties is compelling evidence that the multi-residential market segment is what buyers of Las Vegas real property are paying attention to.  Its a good sign, it means that buyers are anticipating a positive movement.  

Las Vegas High Rise Condominiums

There are many Las Vegas high rise condominium buildings that are influenced to some extent by the percentage of developer ownership.  Developers are generally looking to increase the value of their inventory, and that means selling condo units for as much as the market will support.  There's nothing wrong with that, unless you are a buyer looking for a bargain.