Gloomy Predictions Bright for Buyers
January 10, 2007
I have recently read an interesting article in reviewjournal.com forecasting a decline in home prices in the
Las Vegas
area in 2007 and 2008. Forecasters for Fortune Magazine, including analysts from Moody’s Economy.com and Fiserv Lending Solutions have predicted that, “housing prices in Las Vegaswill fall 6.6 percent in 2007, and shed an additional 8.1 percent in value in 2008,” Click here to read this article entitled, “.
According to Fortune, the housing market in Las Vegas will turn into the second worst in the nation over the next two years. Only Stockton, California can expect to see higher value depreciation than the Las Vegas area. Why? Many folks like to blame builders who created an overabundance of offerings for market conditions. Regardless as to why, there are things both homebuyers and seller will have to take into consideration.
What does this mean for homebuyers? Now more than ever is a great time to have a Realtor represent you to assure that you are not paying too much for a home. A Realtor, with extensive knowledge of values in the different communities of Las Vegascan help you make sure you are getting the most value for your dollar.
For those selling their homes in the coming months or years, a professionally planned marketing and advertising strategy can help you minimize losses when market values drop. Contacting someone with proven marketing strategies can help guarantee a timely and successful sale.
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