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Feature Story!
"Beating the House Odds"
Investing Trends in Las Vegas Real Estate
By Ed Main

As Seen in M Lifestyle, THE Magazine of MGM-Mirage! • As Seen in M Lifestyle, THE Magazine of MGM-Mirage! • As Seen in M Lifestyle, THE Magazine of MGM-Mirage! • As Seen in M Lifestyle, THE Magazine of MGM-Mirage!

Introduction

The thrill of gambling in Vegas is hard to beat, but betting on a long-shot in real estate is probably not in the cards. Have no fear; with about 7000 people moving to Vegas each month and no slow down in sight, you can beat the “house odds”. Many speculate that the boom over the last year or so (an increase of 58%, rated first in the nation), is inflated and will be adjusted more. However, others argue that this land value increase is due to people, and Californians in particular, realizing the undervalued Vegas market and will continue.

Topics Covered

-What’s a less experienced out-of-towner to do when contemplating a big
bet on Vegas property?
-A Four (4) Step Plan to get you on your way
-Four (4) Trends that will have a strong effect on the long-term market
and your investment.

Note: Available online at www.Mlifestyle.com and hard copies throughout all MGM Mirage owned Las Vegas hotels. Readership: 974,000, including over 17,000 hotel rooms

COMPLETE ARTICLE NOW ONLINE BELOW:

Index: Intro Trends Four Steps

Beating the “House Odds"
By Ed Main

The thrill of gambling in Vegas is hard to beat, but betting on a long-shot in real estate is probably not in the cards. Have no fear; with about 7,000 people moving to Vegas each month and no slow down in sight, you can beat the “house odds.” Many speculate that the boom over the last year or so (a growth increase of 58%, rated first in the nation), is sure to climb.

Investors began to notice the hot market as well and moved in droves to build their fortunes in Clark County. So, what’s an out-of-towner to do when contemplating a big bet on Vegas property?

Trends: While short-term plateaus and even declines in the market happen, these are the trends that will have a strong effect on the long-term market:

Californication
With over half of Vegas visitors and about 40% of the new residents moving from CA, the influence is inevitable. “There is a definitive migration from California,” exclaims pioneering Las Vegas realtor, Paula Jones. “Vegas offers Californians the opportunity to get twice the house at half the cost.” And the proximity of CA to Vegas is a strong influence on the market, too. Housing and land costs will always be lower here, but the gap will shrink over the next 3-4 years.

Build Up
With the BLM (Bureau of Land Management) restricting land and permits, the high-rise condo trend has just begun. Expect to see more vertical housing, especially around the Strip and Downtown. There are currently close to 50 projects in the works right now.

Aging Baby Boomers (born 1946-1964)
With the boomers beginning to come into their retirement years in the next 10 years, there are two key effects that the Vegas market will see:

1. INCREASE in age-specific and retirement communities such as Sun City and Sienna, where residents must be 55+. “Las Vegas has become a prime retirement destination due to the warm climate, entertainment offerings, and liveliness of the city,” remarks Jones.

2. INCREASE in luxury communities. Successful people are looking to reside in areas where they can enjoy the fruits of their labor and have an escape from the “busyness” of the strip.Needless to say, both of these influences will also bring out the many investors looking to capitalize on these trends.

Communities – Luxury and Master Planned
Some of the hottest growth areas right now are the resort-like “golf communities” (i.e. Lake Las Vegas, Southern Highlands, MacDonald Highlands and Spanish Hills) and master planned communities (i.e. Summerlin, Henderson and Green Valley), which offer great places for raising families.

With each new community and development, whether single-family housing or the new influx of high-rise condos near the strip, speculators often wonder how close Vegas is to “build out.” The facts show growth will continue, albeit not always as quickly as in the past year or two. Jones confidently proclaims, “This market can absolutely sustain itself and continue growing. Instead of ‘build out’ happening, we are seeing ‘build up’ (alluding to the fabulous new projects such as The Residences at MGM Grand, Turnberry Place, and many more).

There are plenty of reasons to relocate to Vegas, so don’t be scared. Now, if there were only something to do in town. There is a plethora of resources online. As a courtesy, a list has been compiled for you at: www.RelocateLV.com.

Here are four (4) Simple Steps to get you on your way:

Step 1: Do Your Homework. Relocating is a huge undertaking. Regardless of using an agent or not, it is imperative that you do your homework. Know what the market is doing, the trends, listings and statistics. Talk to realtors, read articles, talk to people who moved there, etc.

Step 2: Get Help. You are only as good as your support team, so enlist intelligently. Resources include agents, government offices, online web communities and message boards. (See www.RelocateLV.com for a complete list .)

Step 3: (Recommended) Team with a Good Agent. Having an “expert” with market-specific knowledge and a keen sense of the trends is invaluable. A local agent is a great asset in buying a home. Having someone looking out for your interests, knowing your needs and making a smooth transition can save you tons of time and money. Shop around for a good realtor and make sure you meet them in person to see how they operate. The more specific you can be, the better an agent can help you.

Step 4: Roll the Dice. After reading the trends to the left, you should feel more confident in making the move. But, don’t just take my word for it, research yourself. Remember you don’t win if you don’t play, so roll ‘dem bones!”

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