Real estate investing solutions in Las Vegas and Palm Beach by David today
Top rated real estate investment strategies in Palm Beach and Las Vegas by David Frear: Are Home Prices Dropping in Las Vegas? While the median sales price of single-family homes experienced a modest decrease in December, the overall trend throughout 2023 showcased a 5.9% year-over-year increase. The dynamics of home prices will likely be influenced by market forces and the Federal Reserve’s decisions in the coming months. The potential for a reverse crash is mentioned, suggesting a surge in demand once the Federal Reserve lowers interest rates. However, the actual occurrence of a market crash remains uncertain and is contingent on various economic factors in the upcoming year. Find extra info on https://www.youtube.com/@frear22.
Whether or not the country enters a recession, the housing market appears to be in good shape for the foreseeable future. Perhaps not at the same rate that the United States has lately seen, but growth nevertheless. This is an excellent moment for real estate investors, particularly those interested in Florida, to capitalize on market possibilities. Florida’s real estate market has seen unprecedented price rises during the last few years, as a result of a lack of supply and high demand. Most of the emphasis is focused on the prices and the possibility of a housing bubble. While Florida’s mild temperature, cheap taxes, and natural attractions have historically enticed newcomers to the state, if affordable housing challenges continue to prevail across the state, these enticing elements may go away.
A Las Vegas commercial property was recently acquired by a Los Angeles-based real estate investment company that plans on repositioning it and adding value. BH Properties acquired the Addison Complex facility for a fee of $2.8 million, from seller VanMeetren Family Limited Partnership. BH Properties worked with David Frear, Senior Vice President of Colliers International during the transaction, while the VanMeetren Family Limited Partnership was represented by Charlie Mack, a president and broker with Mack Realty.
VanMeetren Family LP sold the multi-tenant Addison Complex industrial building at 4680 W. Russell Rd. in Las Vegas, NV to BH Properties for $2.8 million, or about $66 per square foot. Delivered in 1984, the 42,471-square-foot building sits on 2.7 acres in the SW Las Vegas Industrial submarket of Clark County and features ten drive-ins, building signage and a fenced lot. The buyer plans to significantly upgrade the building and rearrange the property to just two tenant spaces. David Frear of Colliers International represented the buyer. Charles Mack of Mack Realty represented the seller.
Condo sales in the state experienced a modest increase of 0.3%, totaling 7,108 units. However, the median price for condo-townhouse units demonstrated a more substantial rise, reaching $330,000, reflecting a noteworthy 7.5% increase year-over-year. The condominium market in Florida remains robust, contributing to the overall positive trend in the real estate landscape. Prospective homebuyers in Florida witnessed a welcome expansion in choices during their home searches. The inventory for existing single-family homes rose by a significant 13.9%, and for condo-townhouse units, it increased by an impressive 49.8%. This surge in inventory availability offers increased options for buyers, addressing concerns from previous home searches.
The Las Vegas-Henderson-Paradise housing market, according to Zillow’s latest data through October 31, 2023, presents both challenges and opportunities for buyers and sellers. Las Vegas, renowned for its entertainment and tourism, is also emerging as an attractive destination for real estate investment. In this section, we’ll delve into the current state of the Las Vegas housing market and explore why it might be the right place for you to invest.
The Florida housing market has been on a tear in recent years, with home prices skyrocketing. But with rising interest rates and inflation, many buyers are wondering if the market is due for a crash. In this article, we will take a look at the factors that could influence the Florida housing market in the next five years, and we will try to answer the question: will it crash? First, it is important to note that the Florida housing market is not a monolithic entity. There are many different submarkets, each with its own unique dynamics. For example, the Miami market is very different from the Ocala market.