Released on: October 15, 2008, 3:58 pm

Press Release Author: Glenn Plantone/ National New Builds

Industry: Real Estate

Press Release Summary: Because of low prices,low interest rates and abundant
inventory this may be the best time ever to purchase real estate in the Las Vegas
market.

Press Release Body: Real estate investors looking for positive cash flow in
their residential investments have had a very hard time since the big run up in
prices here in Las Vegas in 2004. In fact if we have a look at the Office of Federal
Housing Enterprise Oversight records (www.ofheo.gov), you will note that the
appreciation rate for single family homes in this market rose slowly and steadily
thru out much of the 90's. It was not until 2003 at 13% appreciation followed by the
big run up of appreciation in 2004 at 36% that home prices became too high to cash
flow.
Over the summer of 2008 that all began to change. And change very quickly I
might add. Even though Las Vegas has been leading the nation in foreclosures
for more than a year now the prices associated with these foreclosed homes had
not yet come down far enough to make homes cash flow once again.
Since the beginning of 2008 the inventory of homes listed in the multiple
listing service (MLS) has been slowly decreasing while the volume of sales has
slowly been picking up. Add in to the mix that the average price of these homes
has been dropping by about $10,000 a month and voila as of September of 2008
you now have a situation where homes with 20% down payments and fully amortized
loans will now once again cash flow.

Now Is the Time
As a full time investor and a licensed realtor I have been watching the local
market since 2004 waiting for the prices to once again make sense for myself
and my investors. Now they do and I am telling all of my people now could be
one of the best times ever to buy real estate, especially here in Las Vegas.
With over 5500 people a month moving to town, over 40,000 new hotel rooms
projected to be on line within the next 5 years creating somewhere between
200,000 and 300,000 new jobs and prices as low as 30 - 50 cents on the dollar
now is the time. Even if only 1/2 of those hotel rooms and jobs are created Las
Vegas is still in a position to stay way ahead of national growth trends.
In August less than 500 permits for new homes were issued. That is the lowest
total in nearly 20 years. Once this inventory of foreclosures gets eaten up
builders will not be able to ramp up production fast enough to meet demand for
new housing and we may experience an actual housing shortage come 2011.
Investors know what a housing shortage means.
Not enough supply means higher demand, higher rents and higher prices, all music to
the ears of any intelligent real estate investor.
We are seeing homes that were $320,000 now showing up as bank owned (reo)
properties for $125,000.Folks that is 39 cents on the dollar. Or in other words
a 61% drop or discount in prices. I am aggressively educating my investors as
to the cash flow (about $400 a month) on these homes and the appreciation
potential of these homes also. Now is the time to grab up what you can as many
of these lower priced properties are beginning to attract attention and getting
multiple offers. In some cases selling prices are landing above the listed
price. Many of my buyers are coming in with cash offers some at full price to
secure these great prices.

It Doesn't Pay to Wait
Many people sitting on the sidelines believe prices may go lower and want to
wait and see what happens. Note that the risk of saving 5 or 10,000 on today's
prices goes along with the chance of missing out on a great cash flow play
today that already has great appreciation potential built in. With the Fanny
Freddy situation interest rates have recently been lowered once again and with
the possibility of facing higher interest
rates by waiting for that possible price drop puts you in jeopardy of missing
today's best deal prices.
Let us address the local crowd of teachers, casino workers, and construction
workers that 2 years ago were priced out of the market. With prices more that
50% less than they were it is a perfect time to buy a home that you can afford
to make the payment on and lock in a 30 year fixed mortgage. The new housing
bill passed this summer offers a $7500 tax credit to first time buyers that
could help substantially also. Retirees,
second home buyers, vacation home buyers and foreign investors are all looking to
Las Vegas again as the go to place to buy a home. Hey it's on sale. We have a "50%
Off Sale" on homes right here in Las Vegas.
As an investor I analyze all of my investments continually and after analyzing
this I have to say I am all in. As an owner of 20 single family homes
nationwide and 9 here in the Las Vegas market I watch the market very closely
and am extremely excited about the positive cash flow and long term
appreciation of my homes and
those of my investors here in the Las Vegas market at this time and going forward.


Web Site: http://www.worldbuilds.com

Contact Details: Glenn Plantone
6955 N. Durango Drive Suite 1032
Las Vegas, NV 89149
702-405-6480 Office
866-447-2037 Office
702-769-98725 Cell
email: gsplantone@gmail.com for more
information about great low priced foreclosed homes in the Las Vegas market.