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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Wednesday, November 16, 2005

Horizons and real estate abroad

The Las Vegas city council is still debating a six month moratorium on condo conversions. Conversions are still going strong despite the debate. Horizons is the first and only (so far) condo conversion in Seven Hills. Units are fairly small, the largest being just over 1200 square feet, but are priced appropriately. Units start in 100,000's and go up to 300,000's for a three bedroom. With so many apartments being converted to condos, rents are going up. This makes an attractive market for investors wanting to rent their investments out for a while before selling them.

Real estate websites for foreign properties don't seem to be catching on as much as in the states, with the exception of Toronto in Canada. Most of Europe doesn't seem to have caught on yet, with a few notable exceptions of Spain and Cyprus. Doing a google search for either yeilds up tons of sites. England and France are gaining ground as well, which means that real estate sites in Asia will follow suit. There are already quite a few for Thailand and the Phillipines. I'm sure as more Americans invest in these countries they'll be more websites targeted to English speaking countries. Its going to be interesting to see the impact of internet marketing on real estate sales over the next decade. Its estimated by the NAR that 60% of home searchers start their search on the internet. I'm willing to bet by 2010 that number will be around 90% if not more.

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