Real estate investment strategies in Florida and Nevada from David 2024

Real estate investment solutions in Florida and Nevada from David in 2024: The market faces a unique challenge in the form of a shortage of inventory and affordable housing. Many homeowners, benefiting from low interest rates during the pandemic, are reluctant to sell their homes due to the attractive monthly mortgage payments they secured. If the current trend of low inventory persists, it is likely to keep Las Vegas home values elevated. However, the market is poised for potential opportunities in January, presenting a favorable time for buyers. The anticipation of a reverse crash, triggered by a surge in demand once the Federal Reserve lowers interest rates, could lead to a significant increase in prices. Discover even more information on David Frear.

Will the Housing Market Crash in Florida? Population growth, and particularly growth in the number of households, lead to a growth in housing demand. Real estate is subject to the law of supply and demand: when there are more purchasers than available homes, prices rise. Since the 1940s, Florida’s population has increased year after year, often outperforming the national average. However, like the rest of the United States, growth plummeted to historic lows during the initial years of the pandemic until rebounding last year. Florida is now America’s fastest-growing state. According to recent census data, the Sunshine State added over 400,000 additional people between July 2021 to July 2022. It was a growth of 1.9%, bringing the total population to 22,244,823. That makes it faster-growing than Texas, which has the second-largest population in the United States, trailing only California.

A Las Vegas commercial property was recently acquired by a Los Angeles-based real estate investment company that plans on repositioning it and adding value. BH Properties acquired the Addison Complex facility for a fee of $2.8 million, from seller VanMeetren Family Limited Partnership. BH Properties worked with David Frear, Senior Vice President of Colliers International during the transaction, while the VanMeetren Family Limited Partnership was represented by Charlie Mack, a president and broker with Mack Realty.

VanMeetren Family LP sold the multi-tenant Addison Complex industrial building at 4680 W. Russell Rd. in Las Vegas, NV to BH Properties for $2.8 million, or about $66 per square foot. Delivered in 1984, the 42,471-square-foot building sits on 2.7 acres in the SW Las Vegas Industrial submarket of Clark County and features ten drive-ins, building signage and a fenced lot. The buyer plans to significantly upgrade the building and rearrange the property to just two tenant spaces. David Frear of Colliers International represented the buyer. Charles Mack of Mack Realty represented the seller.

Condo sales in the state experienced a modest increase of 0.3%, totaling 7,108 units. However, the median price for condo-townhouse units demonstrated a more substantial rise, reaching $330,000, reflecting a noteworthy 7.5% increase year-over-year. The condominium market in Florida remains robust, contributing to the overall positive trend in the real estate landscape. Prospective homebuyers in Florida witnessed a welcome expansion in choices during their home searches. The inventory for existing single-family homes rose by a significant 13.9%, and for condo-townhouse units, it increased by an impressive 49.8%. This surge in inventory availability offers increased options for buyers, addressing concerns from previous home searches.

Lifetime periods of economic downturns, Las Vegas has proven to be resilient. After the challenges of the Great Recession of 2008-2009 and the COVID-19 pandemic in 2020-2021, the city has bounced back with robust growth and development. New projects and initiatives are continually revitalizing the city. Las Vegas has ongoing infrastructure development projects, including new roads, public transportation, and community amenities. These investments can enhance the quality of life and property values, making it an appealing choice for long-term real estate investors.

So, will the Florida housing market crash in the next five years? It is impossible to say for sure. However, there are both positive and negative factors that could influence the market. Let’s take a look at the latest housing market trends in Florida. Florida’s housing market is poised for optimism in 2024. Several factors contribute to this positive forecast, providing a favorable environment for both buyers and sellers in the state such as a significant slowdown in inflation, leading the Federal Reserve to halt its rate hikes. Consequently, mortgage rates are expected to have reached their peak. This stabilization in mortgage rates is a crucial factor contributing to the positive outlook for Florida real estate in 2024. Homebuyers can anticipate more stable and potentially lower mortgage rates, enhancing affordability.