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Hello! I wanted to take the time to introduce myself as YOUR dedicated and caring Real Estate Professional. I am a real estate professional meaning I care about giving people the right answers. When I know the answer I tell when I don’t know I’ll find out and tell you later. I help people make decisions.
Yes, Las Vegas has been hit hard by incoming investors, who watched their home values disappear and then left those homes empty. Las Vegas comes in quite high on the national foreclosure list, almost always within the top three metro areas. But there's an upside -- a very strong job market. In 2007, Las Vegas experienced a 12 percent increase in population, partly driven by retirees looking for Sunbelt states to move to. Coupled with low prices, we could see inventories reduced here, which would also stabilize prices. Take a look below at the job projection in the next few years on the Las Vegas strip alone. For further clarification and market updates call me or email me.
12/07 Palazzo opened with 4,500 jobs
12/08 Encore opens 6,500 jobs
08/09 City Center opens 11,500 jobs
09/10 Fountainbleau opens with 5,000 jobs
10/11 Echelon Place opens with 11,500 jobs
12/12 Plaza opens with 6,000 jobs
Summary:
- Total number of jobs is 45,000 by the end of 2012
- Total number of people is 115,500 with an average 2.5 people per household
- Approximately 400,000 new in population based on secondary jobs.
- 30% of population rent, 280,000 people need homes
- Will need 90,000 homes by the end of 2012
- 2007 inventory is 30,000
- Will there be a housing shortgage in the next 5 years? YES
Click on 'Featured Properties' on the right side of the home page to view properties that meet your needs. When you have any questions after browsing through my website please give me a call. I am here to help!
Xiao-Qing Lu
(Shall-Ching)
MBA 2002 - Management
BS 1996 - Engineering
