Las Vegas Tops List for Best Home Investments
It’s never a bad day when I get to relay good news about Las Vegas, especially when related to Las Vegas luxury real estate. Recently, the online news source, The Alternative Daily released their top spots for real estate, and Las Vegas tops their list for best home investments nationwide.
The Long Fall Makes Room For Improvement
When the recession hit, Las Vegas took it on the chin like a heavyweight contender. If you’ve ever been witness to one of those boxing matchups here in Las Vegas, you can understand the analogy. On a positive note, the gap between our peak home prices to the post-bubble created by the crash leaves room for increasing home valuations.
Today’s market is not a get-rich-quick scheme; it’s more for long-term returns, as bargain hunters are exiting the sphere. Commercial investors like those who buy apartment complexes are still finding a “deal” or two, but for buyers in the single-family home segment, home prices are stable and appreciating more along the national average.
Commerce Comes To the Desert
The industries and companies that support the business of gambling have a presence in the Valley. Banking, information services, regulatory, compliance need representation and open office spaces near their largest clients. Scientific Games Corporation, Sutherland Global Services, Barclays are a few. These companies staff full-time employees, and those people buy Las Vegas luxury real estate because it’s accessible and caters to any lifestyle.
Nevada does not charge income tax on businesses. Instead, the state collects revenue from companies via a payroll tax. Casinos can pull in billions of dollars in cash, but won’t see a tax bill until payroll tax time, a relief for big business that might have a pinnacle year in revenue.
On the state side of things, this strategy eliminates most opportunities to dodge the tax collector for cash-based businesses. Payroll records have a hot paper trail, unlike cash on a casino card table.
Innovation Extends Past Silicon Valley
Technology is already prevalent in Las Vegas and could continue to grow. Firms in consumer technology reap the benefit of the Consumer Electronics show held at the convention center on a regular basis. These folks only have a short commute to participate in a one of the biggest conferences in the industry. I’m going out on a limb here, but I would wager a guess that most clients or vendors of Las Vegas-based companies don’t mind traveling for business meetings.
These are a few Las Vegas-based tech corporations who call Las Vegas home:
1. Unlokt is a locals-only online community joined through invitation-only hotspots in the Las Vegas metro area. Members recommend places, and the results show up via the app in real time to other members. The fear of missing out is a foregone conclusion. Yes, there are a lot of pictures of food on their blog, so don’t read it if you’re hungry.
2. JusCollege is a now Las Vegas-based travel group that takes the college adventure to a whole new, organized level. The team caters exclusively to University students headed to spring break, formals, and especially to Las Vegas. Two lifelong buddies started the company, moved to San Francisco for the tech benefits, and then relocated here in 2013.
3. Switch Corporation connected fiber optics providers to a single center. They bought out the defunct Enron building and set up shop as the headwaters of the information stream in Las Vegas. Ebay and PayPal use Switch as a secure vault to process payments and conduct financial transactions. InNEVation is a 65,000 square foot collaborative workspace and event venue, donated by Switch founder Rob Roy.
4. Tesla is working on building a multi-billion dollar facility here in Las Vegas.
5. Playstudios Inc. A video game-based marketing platform opened their doors in Las Vegas in 2014
The Valley Appeals to Homeowners Of All Ages and Lifestyles
United Van Lines Van Lines’ 39th Annual National Movers Study of 2015 ranked Nevada 7th on their list of top inbound states in the U.S. This makes the fifth consecutive year that Nevada made the top ten.
The company distributes surveys to clients to collect relevant data on the why part of their destination choice. Based on survey results, they attribute the “Baby Boomer” generation moving to warmer climates as one of the reasons Nevada is a favored destination.
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