|
For Office Planning and Interior Design, please visit:
Ward & Howes Associates
|
LAS VEGAS LAND
Land seems to be plentiful in the Las Vegas Valley from an aerial perspective. And you might ask yourself, "With ALL this vacant land, how can Las Vegas land be so expensive?"
The true answer is that we are running out. On the outside looking in, you can't see that Las Vegas is actually an island in the middle of an ocean of sand. And most of that sand can NOT be privately purchased or developed because it's wholely owned by the Bureau of Land Management (BLM).
What's the BLM, you ask?
The BLM is the federal agancy that acts as a land holding company for the Federal Government. When the west was opened up in the late 1800's for claiming, the land that remained unclaimed (or unwanted), was rounded up and claimed by the Federal Government. And since Nevada is a wide span of desert and wildlife, 80% of this great state is owned by Uncle Sam.
And since the beginning of this year, when SFR home prices were falling and Las Vegas was making national headlines, everyone assumed that ALL Las Vegas properties were losing value.
Unfortunately, the economic down turn in Las Vegas is solely the result of several economic indicators, such as: rising interest rates, the numerous stated income loans the Buyers used to "Over Buy" their homes, 100% Loan To Value Loans that Buyers couldn't keep pace with keeping their monthly payments current, and Home Investors/Flippers.
Still, Vacant Land, Commercial Properties, & Resort Properties have maintained their value due to their attractiviness and their desirable locations.
If you are "thinking" of waiting out the SFR's foreclosure process to purchase a Commercial property, my advice is: DON'T. Waiting even six months, could work against you. That very same commercial property may increase in price and value while you debate the Las Vegas Valley's future.
Call me now to see a list of property inventory. David Howes (702) 501-9388 or email david@davidhowes.net.
|
This Neighborhood Shopping Center, located in the central part of the Las Vegas Valley and just east of the Las Vegas "Strip," was Sold by David Howes in August, 2007 for $7.3 Million.
This property is a 27,065 SF non-anchored Retail Strip Center on 2.05 Acres. The Tenants, for the most part, are long term local Mom & Pop tenants with long leases and options.
If you are serious about purchasing a Las Vegas Valley commercial or investment property, contact David Howes at: 702-501-9388 OR david@davidhowes.net.
|
