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Centennial Real Estate
2310 Paseo Del Prado,
Suite A-105

Las Vegas, NV 89102
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Local market Update

Jan 10, 2014

Things are leveling out.

Nevada is keep slipping from one of the highest foreclosure states with the new laws. It was even number one more many months just a few years ago.

Prices were going up starting from 2012 all the way through summer 2013. Averaging middle double digit of appreciation all across town. People start having equities again after many years of decline and bottomed out around 2010-2011.  I’ve seen prices doubling or even tripling on some of the homes in the valley compare to their lowest prices around 2009 - 2010.

Home prices tumbled a little bit around fall 2013, homes are staying slightly longer in the market. Mostly because some of the home owners that have overpriced their homes are seeing their homes lasted for longer time in the market.  I see prices hovering stable soon after.  An indication of seller-buyer market coming to an equilibrium.

As lots of investors flocking in and trying to get into the “game” in the beginning of this decade, they have helped to stabilize the housing market.  I see even more and more investors have come in and reap real sweet profit in the last few years.

As with return % on investment get lower with the increasing of price, I still see the ROI still hovering around 12-16% on typical rental residential investment property.  This is an indication that Las Vegas is still a great investment town.

So let me know if you’re interested in getting into the market, or If you’d like to cash in your newly found $ in that old house of yours, along with that tenant you kept complaining about, but couldn’t do much until now.

Reysond L. Juhana

Property Manager/
R.E. Investment Manager
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