I am looking at purchasing a senior park in Las Vegas and was wondering how strong or week the market is there. Any thoughts would be appreciated!
Las Vegas is still tough. I know an owner who owns two parks there and although they are 100% physically full, about 1/3rd of the homes have been abandoned back to him.As with any market, run a few test ads on CraigsList. If you are not getting 20+ responses/week, then forget it. The market is too weak.My 2 cents worth,-jl-
I know someone who did a test ad there, on a park not far from downtown, and it only garnered 2 calls in 10 days. Vegas has one of the weakest housing markets in the U.S. right now, so be very careful.
I lived in LV for 13 years.The town is spotty. Downtown is hit or miss. Ask any developer.Good neighbor here, bad one next door, which chases away the good people.And Frank is right, the housing market is still very weak because the jobs that contributed to the runaway pricing have not returned.You think you’re in an OK location – only to find out you are next to a high drug area.PM me for local info.Mike