Las Vegas...What is the current Market like?

[Ron Drake]

Seems like property values are still going up. What do you Guys with your boots on the ground see happening this year? Seems like most analysts are predicting anywhere from 4-10% appreciation. When do you see Las Vegas as not being undervalued anymore?

I own a house in the Southwest that I bought in 2002 that I am considering selling this year. May 1031 exchange, may just sell it. 

[Andy Chu]

@Ron Drake I didn't know you were looking to see who can do research. I accept his challenge . You own the property on 9718 vista crest 89148. It is located in the Dakota community built by Pardee Homes. It is 2443 with a 3 car garage. 

Now here comes the analysis of your home.  You reviewed the zillow number and guesstimated that the house is worth 280. The reason a realtor is needed is that either myself or any of the other realtors will tell you that 9917 shadow grove which is a model match is listed for 299,900.  What other realtors don't know is that we are doing the flip on the property and have it under contract but not sold yet for 304,000 with 5,000 in closing costs.

If I were to put a value on your home I would put it between 280-300 depending on upgrades. This quick review would have made you 20k with a quick look up.