Home Buying in Las Vegas>Question Details

New Casa!, Renter in Las Vegas, NV

Is it a good time to buy some vacant land?

Asked by New Casa!, Las Vegas, NV Wed Apr 3, 2013

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Not as good as 2 to 4 years ago, but better than 6 to 10 years ago. In other words, "yes" it is a great time to buy land now! It is still about 50% cheaper than prices from 2 to 4 years ago. Contact your realtor now to get you a fresh list of vacant land in Southern Nevada.
0 votes Thank Flag Link Fri May 31, 2013
I have worked in the land sector for the last 13 years. It depends on what type of vacant land you are interested in buying. Currently because of the short supply of homes available for purchase in Las Vegas, the homebuilders have once again begun to purchase vacant land suitable for building single family residences to meet demand. Thus the prices has started to increase for such land. It is highly likely that the legislation will amend AB284 and remove the "criminal intent" portion of the law. This will enable lenders to once again start foreclosing on homes where the mortgage payments are delinquent. It is most likely going to bring the available inventory slightly higher. However, I do not beleive we will see a huge increase in foreclosures at this time or at least until the legislation meets again in two years.
0 votes Thank Flag Link Thu Apr 4, 2013
it is a great time to purchase commercial land now.

There are many new plans happening in Las Vegas for industrial and warehouse . In my opinion this is the best time to invest in commercial land again in Las vegas.

Rena Levy
Broker/Associate
Certified International property Specialist
702-612-7099 Direct
cvegashomes@gmail.com
Realty Executives of Nevada
0 votes Thank Flag Link Wed Apr 3, 2013
It depends on what propsed bills get passed by the Legislators. They are meeting as we speak and there are proposed bills that could make vacant land a great investment and there are other proposed bills that will kill all of your profits and may even cause you to take a loss.

If AB284 is amended and the banks begin foreclosing again there will be no demand for vacant land as no one will need to build homes because there will be plenty of inventory to go around. However, if bills like SB321 are passed the resale market will dry up and the inventory propblem will get worse. In which case NEW homes will be in high demand as will vacant land.

Read more about AB284 here: http://lvrealestatehelp.weebly.com/1/post/2012/12/more-forec…

Read more about SB321 here: http://lvrealestatehelp.weebly.com/1/post/2013/03/sb-321-pro…

I hope this informative and helpful!


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Wed Apr 3, 2013
Hi New Casa - are you looking in a particular area? I would say the answer is variable based on the market in the area you are considering. If it is the Vegas area, I'd say yes. We are tied to some national architectural firms who are overwhelmed by what's upcoming in that area. Research well and choose wisely and it could be a boom time. Hope this helps - cheers!
0 votes Thank Flag Link Wed Apr 3, 2013
I was a Land Develoepr for 25 years prior to being a REALTOR - for a highly trained specific answer, please CONTACT ME -----> http://robflitton.com/contact/
0 votes Thank Flag Link Wed Apr 3, 2013
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