J. Kale Flagg on Las Vegas Real Estate in 2012
Chief Operating Officer of Stable Development, J. Kale Flagg oversees a team focused on real estate leasing, sales, legal matters, and property development. A Yale University graduate, J. Kale Flagg has grown at least three enterprises to $100 million in revenue.
In early 2012, a number of publications cited Las Vegas as a top real estate locale for the year. The median price for residences is $122,000, making the city a popular choice for buyers who wish to purchase a second home. Many prospective buyers reside elsewhere in the United States, but have become familiar with the area through visits. They enjoy the numerous entertainment offerings and affordable lifestyle of Las Vegas.
Trulia, an online residential real estate research company, has given Las Vegas a favorable price-to-rent ratio, which renders the city among the top choices nationwide for investors. Retirees appreciate the low cost of homes in the area as well, and US News & World Report ranked Las Vegas among the top 10 choices for sun-filled retirement destinations. Furthermore, the four Sun City communities boast homes starting at $100,000.
Another dimension of the market involves foreclosures. Property investors have snapped these up, which is reflected in the number of purchases made in 2011. Last year, more than half of the sales came from all-cash transactions.