Since the beginning of 2012, the Las Vegas Housing Market has been smoking hot in terms of rising prices. Many factors contributes to this and if you are not studying the las vegas market, you will surely be surprised.

Latest figure from GLVAR shows 2013 May home prices has gone up over 32% as compared to 2012 in May.

There's a property on Rubino St in Las Vegas that was purchased on July 2012 for $122,000 and this past May 2013, a model that is the exact same square footage in the same subdivision was sold for $215,000!  and another one is for sale at $255,000!

There are countless cases we have researched like above. I wish I was the owner fo that Rubino property

Condo prices in May 2013 has gone up over 45% as compared to 2012 in May.

The days of lowballing a short sale deal in Las Vegas is Looooonggggg gone! As of July in 2013, if you find a short sale home and it's asking price is competitive as compare to other similar properties in the area, chances are, there will be multiple offers, most are above the asking price, and more than half will be in cash!  If you are coming to this party late, you are in for a rude awakening.

As for shortsale, this animal might have sailed too. In this current market, the amount of short sales are trending down, same with fannie properties and REO properties in general.

What all this means are prices will most likely steadily rise at least for a while. For how long, no one knows..

For a detail report on purchasing a Home or an investment property, please call toll free 1-888-833-2693 ext 8081  it's a 24/7 pre-recorded message that will give you more information on how to go about purchasing a property in Las Vegas