Vegas, forecast? 2016

[Oliver Martin]

Hi all. Newbie investor here. I'm interested to know what investors think of Las Vegas this coming year and the next couple of years. I've seen stagnation during the last few months. Specifically in the price range above 300K. Whereas properties below 200 or at low 200s if priced appropriately are still selling fast, most are being bought by cash buyer investors. Those buying with loan typically have to increase their offer to compete with cash buyers, thus making this price range a seller's market. Interest rates have increased a bit from 3.9-4.3%, to mid-high 4%. I know spring is usually a good time to sell so there might be some increase in sales this next few months. There's still also the short sales and REOs. With all of these factors coming into play. I'd like to hear what you guys think of the market here in Las Vegas for early 2016 and thereafter.

[Joe Ellis]

@Oliver Martin, I'm still quite new to all of this as well and will be monitoring this thread to learn how to "project" or "forecast" a market. The only insight/opinion I can impart is that when I was shopping for and eventually bought my house in Q3 2013, it was the same story. IIRC, I made 4 offers and 3 of them were under contract by the time I had made my offer; I had been outbid by cash investors every time. 

-Joe