Nevada, a state in the Western United States, conjures up images of Las Vegas casinos and gambling. There is more to Nevada, however, than just gambling. If carried out with prudence, Nevada real estate investment can be a profitable venture. From magnificent penthouses to classy condominiums, and single family houses to seafront mansions, Nevada real estate offers a host of options for investors. Peruse further to know as to why Nevada can be considered as a real estate haven for investors.
Nevada has experienced significant real estate appreciation over the past few years. Nevada real estate has escalated by around 25% in the last twelve months. If this overwhelming rate were sustained for a period of four years, an average investment property in Nevada would double in value by the end of that period.
Even with a fabulous appreciation rate, Nevada real estate is still quite affordable. Unequivocally, real estate investors would want to strike a deal in either Las Vegas or Reno, which are the two major cities in Nevada. While an average Las Vegas home may cost around $370000, investors might need to cough up around $450000 for a home in Reno.
Another reason as to why you should invest in Nevada real estate is the fact that the state and its city, Las Vegas, are a huge tourist attraction. People from all over the globe flock to Nevada owing much to its legalized gambling and gaming industry. And a place with such immense popularity is highly unlikely to experience a slump in its real estate prices.
It?s true that Nevada real estate investment is a safe and relatively risk-free proposition. However, any buying or selling decision should be based on a comprehensive research of current market conditions. Getting hold of vital specs, such as pricing, neighborhood info, and the condition of the house, can help you bag a good investment property. After all, an informed real estate investor is more likely to strike a lucrative deal than a rookie in the same field.
Copyright ? 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)
Joel Teo writes on various financial topics including Investment Properties in Las Vegas. Learn more about Investment Properties in Las Vegas in our Real Estate Investment Resource Site today.