Las Vegas Luxury Homes for Sale May Be Be Value in USA for Overall Lifestyle
Las Vegas, NV (PRWEB) March 14, 2012
Las Vegas luxury homes have been featured on popular television shows and magazines around the world due to their reputation for cutting-edge amenities. For the last three years a large inventory of these multi-million dollar estates were foreclosed on and are now available for a fraction of the value. Trulia research confirmed by LasVegasRealEstate.org ranks Las Vegas homes for sale as #1 in America for price-to-rent ratio. While this ratio applies more towards investors picking up some of the best cash-flow properties under $125k in the USA, others are choosing to relocate and call Vegas home. Vegas may be the best value for lifestyle as homes that use to sell for $1-Million dollars can now be possibly picked-up for as little as $250K.
Ashley McCormick of Realty One, Nevada's number one Las Vegas real estate company, says these million-dollar buyers are not buying the $250K deals, they are still spending $1 Million dollars or more to acquire homes that use to be in the Multi-Millions. The GLVAR MLS shows the most expensive home for sale in Las Vegas over the last 12-months was originally listed at $37.5 million and sold for $15 Million. This purchase was for a 73,000sf., 18-bedroom, luxury mansion estate on over 11+ acres originally constructed as the Royal compound for the Sultan of Brunei. This is just one example of the over 80+ Las Vegas luxury homes over $1 Million that have sold or gone into escrow in the last 6-months.
McCormick notes that Las Vegas luxury property hunters are demanding the full-blown "MT Cribs" lifestyle, and getting it. McCormick notes the response out-of-state buyers have upon entering a Las Vegas homes for sale that may be available for under $87 a square foot located on the golf course, waterfront or having city light views. A majority of these Las Vegas luxury homes are located in gated, master-planned, communities such as Spanish Trail, Lake Las Vegas, Green Valley and Summerlin. These new homeowners are discovering an affluent lifestyle they could not afford anywhere else but in Las Vegas.
An industry leader with 15+ years experience in the Las Vegas real estate market, McCormick says she has never seen such deals as banks are looking to unload their Las Vegas foreclosures. This sell off has forced homeowners to compete on price against the banks making this the best "Buyers Market" she has ever seen. CNNMoney, MarketWatch and Inman News have all mentioned Las Vegas homes for sale in their recent "Top 10 Cites to Buy". Last year the Las Vegas market trends saw a record high of over 48,000+ home and condo purchases from savvy buyers and investors taking advantage of 20-year lows. For more information on buying real estate in Las Vegas, contact Ashley McCormick at 1-702-523-0916 or search Las Vegas homes for sale online at http://www.LasVegasRealEsate.org