Las Vegas Resource Area

The Real Estate Market in the US has seen significant changes over the last 12 months and as a result, there are a range of substantial investment opportunities available, but only in the right areas.  Las Vegas – the self-proclaimed “Entertainment Capital of the World” – is the Getaway Global Destination Brand for 20-30m people per annum, attracting huge investment; perhaps more importantly for the property investor, that investment encourages population growth, creating property and rental demand.

Our experience with Foreclosures and Short Sale properties in Florida has led us to take a different approach in Las Vegas, aimed at achieving the highest possible client service levels.

Such is the speed of the purchase process of foreclosures that we have designed the optimum approach to buying property in Las Vegas. The key issue is that most Clients want to buy leveraged property to gain the maximum investment return, but a problem has been the time span involved in mortgage applications.

• Clients seriously considering exploiting this market are invited to “pre-qualify” for mortgage finance by completing a form on this web-site. We will forward this to our US broker, who would confirm that the formal mortgage application would be accepted.
• Then, we require a detailed Property Specification so that we can approach our sources to locate suitable property.
• Clients will be offered a small number of property options.
• Once a property is selected, deposits will be required to secure the property (though these would be refundable should the Home Inspection Report prove unsatisfactory).
• All other BPI services will be available on these properties – selected partners in the fields of Attorney, Insurance Broker, Property Manager etc.
• A deposit of 25% of our current Sourcing and Tracking fee will be required for all Custom Sourcing assignments.

Las Vegas – Time for investors to cash in

A concerted effort has been made by city officials to diversify the economy beyond tourism by attracting light manufacturing, banking, and other commercial interests. The lack of any state individual or corporate income tax and very simple incorporation requirements have fostered the success of this effort.

However, the Credit Crunch had a major impact on Property Prices between 2005-2007, some decreasing by more than 40%, which basically means that NOW is a very good time to invest in property in selected areas in the State of Nevada.

There is strong evidence that the market has “bottomed out” and that the market itself is already turning.  So attractive are these properties as investments, we find ourselves in a highly competitive marketplace, with demand outstripping supply:

“Because price-to-income ratios have fallen below historical trends, there are more all-cash offers.  In some recovering markets like Las Vegas and Orlando, the demand for foreclosed and lower priced homes has spiked, and a lack of inventory is becoming a common complaint,” – Lawrence Yun, NAR chief economist.

Our contacts in Las Vegas also support this view and indicate that there is probably only 5 months worth of repossession supply.  With 7-10 offers on average per property, this is understandable.

Of course the US Housing market has been hit by a slump in sales, prices slashed by 40% in several US States and Cities as well as widespread foreclosures; however like most capital cities in the world (in the right city locations), there is ALWAYS a demand for good property; prices will spring back quickly and continue the upward trend – London is a classic example.

NOW is the time to buy a Bank repossession in Las Vegas. With the expertise and assistance of BPI Ltd, take advantage of this economic climate and the property market…it’s not going to last forever.

BPI take the risk out of property sourcing, through their local knowledge of the purchase transaction process. You need people who are on your side, helping you through the Sale Process and putting you in touch with trusted local professionals.