what web-site can give me vacancy rates by location and by type of property ?

Asked by Noamofan, New York, NY Sun Mar 4, 2012

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9
James Bellile, Agent, Las Vegas, NV
Mon Mar 5, 2012
Dear Noam,

Vacancy rates are a great tool, but, probably more important, how nice is your investment within it's given neighborhood and how competitive is your rental rate?

For a great buyers agent and rehab specialist, please contact my team. We also have a great holding property manager committed to advertising your property.

We'll help you buy property at prices you can charge minimal rent and still have a hefty return and, if necessary, assist in rehabbing properties that need work (you may have noticed, Las Vegas' quality of inventory as dropped significantly over the past few years).

A youtube video of some of our previous remodels is located in the bottom left corner of our site. http://www.LasVegasRealEstateConnection.com.


Sincerely,



James Bellile
0 votes
Rena Levy, Agent, Las Vegas, NV
Mon Mar 5, 2012
Hi Noam,
You can receive vacancy factors when purchasing condos and houses in specific subdivisions.
I work with investors who buy investment properties in Las Vegas and provide my clients with
A zip code chart of price range, properties sold, time on the market and vacancy rate from Association.
Same information is provided for rent..time on the market, terms and price.
I will be happy to send you this information via email.
Please send me an email with your info.

Rina Levy
International real estate
Broker/Associate
702-612-7099
Cvegashomes@gmail.com

Realty Executives of Nevada
Web Reference:  http://www.cvegashomes.com
0 votes
Mark Fleysher, Agent, Las Vegas, NV
Mon Mar 5, 2012
You can find a vacancy rate map on my website:)

http://www.jackconleyrealty.com/las-vegas-maps/las-vegas-vac…


Noam, call me today and I'd be happy to provide you with information and current investor trends.
0 votes
David Cooper, Agent, Los Angeles, CA
Mon Mar 5, 2012
Noam: Location, location, location makes or breaks a great rental property. Las Vegas is attracting worldwide investor attention because ROI is the best of all major cities in US. My investors are buying 3+2 selling for under $90,000 and getting them rented in 2 weeks or less. Don't wait to long to contact my team investment team as prices and demand are rising.


FREE LIST OF HUD PROPERTIES AND GOVERNMENT FORECLOSURE HOMES FOR SALE. SEE WEB
0 votes
Janet Ratzla…, Agent, Coeur d Alene, ID
Mon Mar 5, 2012
It is always best to find an agent you trust and an area you are interested in and ask them directly. There are just to many different areas in Las Vegas to give that a correct answer. Thanks for the question. Jan Ratzlaff
0 votes
Steve Matthe…, Agent, North Las Vegas, NV
Mon Mar 5, 2012
Hello Noam,

I am not sure that there is a site that can give you vacancy rates by location and property type with any degree of accuracy (although I have seen reports that agents have collated on their own), because there are variables that influence the vacancy rate, which would not be seen without drilling further down into the data. However, I will tell you that across the valley vacancy rates are in the neighborhood of 10% plus or minus a few percentage points depending on the area. The spread is so small as to be insignificant. Frankly in this extremely strong rental market, the only real determinant of vacancy and how long a property remains vacant is the amount of rent a Landlord determines that they MUST get. If you are even $25 to $50 over market rent, your property will go vacant for an inordinate amount of time. On the other hand, if you are $25 under the market, your property will have multiple rental applications within 48 to 72 hours of hitting Craig's list.

I assume you are worried about your rental property remaining vacant for an extended period of time. That just does not happen in this market, unless as I said, you are trying to get over market rent for your property. I have seen investors hold out for an additional $100 per month on a property and have the property go vacant for 2 months. At $1100 per month, that is a loss of $2200. If you were eventually successful at getting $1200 per month, when the market rent is only $1100 pert month, it would take you 22 months to break even, and there is a greater likelihood that your tenant will move out early, or be a bad tenant, which is the only reason they would pay over market rent in the first place.

Lastly, property values are so low right now in relation to the rents they command, it isn't worth fighting for a few extra dollars of rent per month. You may be entitled to bragging rights for getting the highest rent in the neighborhood, but at what cost in the long run? Cash flows are incredible right now, so dive on in. The investment water is great!

Hope this long explanation helps.

Best of luck, and thanks for reading.

Steve Matthews
Prudential Americana
Steve@reovegas.com
702-491-4663
0 votes
David Cooper, Agent, Los Angeles, CA
Sun Mar 4, 2012
The lowest vacancy rate from my property manager is 3 bed 2 bath houses with decent size lots in good areas.

The average time to reent a vancy is less than 2 weeks at market rents. I have reported on another blog, the top 10 zip codes for foreclosures in Las Vegas. If you buy a 3+2 under $90,000, you will be above 12% ROI



FREE LIST OF HUD PROPERTIES AND GOVERNMENT FORECLOSURE HOMES FOR SALE. SEE WEB
0 votes
Lorrie Feld,…, Agent, Scottsdale, AZ
Sun Mar 4, 2012
Hi Noam,
I know of a great statistical website for rentals in the AZ area that shows trends in each zip code, but not sure of one in Las Vegas. If you need info here, I can send it to you.
Regards to Long Beach, I was born there and still have family living there.
Lorrie Feld
Keller Williams Integrity First
Web Reference:  http://www.azrealtygroup.com
0 votes
Matthew D'Er…, Agent, Las Vegas, NV
Sun Mar 4, 2012
There is none, but we have the knowledge and experience to give you what ever information you need to purchase investment properties. We are a property management company with over 350 homes/condos under managment for our investors. My wife and I have lived in Vegas since 76. We specialize working with buyers. If you would like to work with us, please call. Matt and Kim D'Ercole

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes
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