Is it a good time to buy a Single Family Home now or rent?

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@Joseph Y. I am an investor wholesaler in the Las Vegas market and always finding deals. I normally don't answer loaded questions such as yours because I really believe that in order to find out about a market it is best to get in it. If you are already moving to Vegas than the only thing you need to target is what kind of investing you wish to do. Because of opinions such as @Neil Henderson, people feel like the market has low inventory not a lot of people are taking action. The markets are what you make them in my opinion. However asking people about the market is just as much of a gamble as going down to the strip and asking which slot machine is doing the best or which table can I win on. Jump in, take the risk and run your business by the numbers and not others opinions, including my own. I hope this helps.Louis

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I personally think there is about to be a huge jump in appreciation in Vegas this spring and summer in the SFR 3/2 price range of $200k and under. We are already seeing multiple offers again. I think the SFR described is a good play for the next year or so. It is hard to predict outside of that.There is much better supply and better deals (as far as walking in with equity) in the $300k + price range. While the demand is not quite as hot in this price range I expect it to increase as the lower priced SFRs push up values. The lower priced SFRs are being driven by investors that are seeing raising rents as well as affordability in my opinion. People see prices going up and they want to lock in a home before they are out priced and can no longer qualify. When the everyday worker can no longer afford the homes we will see a dip in demand that will effect the market.To answer your original question, I would buy now. Expect to have buying competition on the good listings and be ready to be aggressive on your offer. This will get you the home so that you can capture the appreciation through the current upswing.I hope this helps.

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Joseph Y. If you've been looking at the news lately surrounding Vegas you'll notice there is massive development in progress as you read this. T-Mobile arena just got completed, & are now talks of getting an NHL team here in Vegas, Oakland Raiders owner committed the team to moving here with the purpose of building a $1.4 Billion dollar Football Stadium. We have 2 different casinos being built in the next 2 consecutive years that are also billion dollar projects. A lot is happening in this city & it's only going to compound. I would observe the market for a bit & if you can help me understand the ideal situation you're looking for in real estate deal out here I'd be happy to give you some advice that'll get you started in their right direction

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I'm going to give you advice from the school of @jason hartman. A property has to make since the day you buy it. The more expensive the property gets, the more sense it makes to rent. Look at the rent to value ratio. If thats well below 1%. It makes since to rent. Otherwise you might be playing a gambling game that you can either win or loose.

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Louis Davis is right. Mine is just one opinion of many you'll hear.

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So we have decided to make a purchase in Vegas, but now looking at the various areas. Prices have increased and seems like sales are picking up and more competitive. Looking at Single Family homes in a good area... From what I hear it is cheaper to buy then rent and they are developing a lot of new apartments in the area... still good amount of building happening. I have to say that some of the homes closer to the 300k are nicer but in my opinion a little over priced. Looking at the 200-250k properties.Thanks for all the feed back and input. I'm planning not to use an agent although people have pros and cons on both sides... I'm focusing more on finding the right lender to work with. Would be a mistake not to use an agent? This purchase will be thru traditional method and conventional loan since this will be a family home for us initially...

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That was actually going to be my next question. I don't have a specific number in mind, but was wondering what was a reasonable return I can expect for the market right and that price range right now?

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The price point you are looking in does make a huge difference. There are fewer homes under $200,000 available right now making it more competitive and yes multiple offers. Depending on location, a $200,000 home might get you around $1000-$1100 in rent? Again this is a generalization and every community can be different. My comment about pricing being on the high side also has to do that most of my business is in the $300,000 range and up so I know I have a different perspective. What kind of return are you looking for if its going to be a buy and hold?

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Don't want to hijack the thread, but I'm very interested in the current Vegas market and its investment potential as well. I gather mixed feelings from this thread, but @Robert Adams, you seem positive about buying now, but it sounds like its only aimed at holding houses for a year or less?I'm looking at the $200,000 range and looking for cash flow. @Melissa Machat, you aren't as sure about now being the time to buy. When do you see that turning around, or what are you looking for in terms of signs that it will once again be a good time to buy (buy and hold cash flow property).

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Just curious what price range are you buying in if you do end up buying in Vegas?