Econintersect: National residential real estate market expert Keith Jurow has launched a new advisory service that will publish and analyze detailed data from across the country. The service will publish a twice monthly advisory newsletter with data updates. Each issue will feature data and boots on the ground review of a particular real estate market. The first issue addresses one of the epi-centers of the housing bubble, Las Vegas.The service will be available by subscription or single issue purchase, published by Minyanville.com. GEI Investing has posted an excerpt from the premier issue, is the Las Vegas market analysis. Jurow found that investors are very active in the Las Vegas market. From the newsletter (and the GEI Investing excerpt):
To truly understand the Las Vegas market, it is necessary to dig beneath sales volume and median price figures. What I found is that the housing market has been kept from collapsing by investors purchasing most of the low-end distressed properties with cash. The Greater Las Vegas Association of Realtors (GLVAR) reported that in January of this year an incredible 51% of all resales were bought with all cash. They pointed out that this percentage had been rising steadily for a year.
Jurow feels that successful investing in Las Vegas real estate requires careful analysis of each deal. He also says that the market should remain favorable for sharp minded investors for some time to come.