Las Vegas Housing Market Continues Positive Growth Through the End of Summer

The Las Vegas Housing Market remains on its path of consistent growth through the end of the summer, with median single-family home prices reaching $204,715 and condominium and townhomes prices growing to $108,993. The market is now at its highest point since the onset of the recession. Initial post-recession growth in Las Vegas was driven by institutional investors buying up inexpensive property with cash purchases. However, RealtyTrac is reporting that cash purchases have declined to 35% from 50% in this year alone and that the primary buyers are now local residents, and not investors.


Phoenix Capital Fund-US July Update

The Phoenix acquisition team is having a busy early summer after a strong winter of raising capital. In the month of June we purchased eight properties, primarily newer and larger townhomes that provide us with additional rental income and greater capital gains potential. We will purchase properties at the same rate through the end of July, as our acquisition team is continuing to find excellent deals.


Phoenix Capital Fund-US Spring Update

Capital Raise
Phoenix Capital Fund-US has seen extraordinary growth in the past two months, as $3,055,635 was raised from 189 investors in the month of March alone. This is our biggest month to date and is excellent news for current and prospective investors, as we are well positioned to expand our real estate portfolio, acquiring higher quality and newer units moving forward.

US Government Report Positive Outlook for Real Estate

The management team at Phoenix Capital Fund-US continually tracks the US housing market to stay up to date on recent trends. A positive recent development is the continual rise in home prices through recent highs on the 10-year Treasury note. Given that US mortgage rates generally follow 10-year Treasury rates, and Treasury rates nearly doubled in 2013, it was a positive surprise to not see a significant drop in home sales in late 2013.


Morgan Stanley Reports Positive Outlook for Buy to Rent Business

Morgan Stanely released an extensive analysis of the Buy-to-Rent real estate business model in the United States and was overall very positive about the growth potential and returns.

Institutional investment in buy-to-rent real estate was estimated to be $17B as of the 2013 summer, and Morgan Stanley saw the potential of the sector to grow to roughly $100B. The primary reasons for such a bullish outlook are the fact that most firms are buying below replacement cost (as Phoenix Capital Fund-US is) and there is the prospect of strong cash flows moving forward. 


Las Vegas housing market moving towards traditional sales

The Las Vegas Review Journal recently reported that the average single-family home price in Las Vegas increased by 24.2% over 2013, while condo prices went up by 26.3%. This remarkable growth represents one of the fastest growing cities in North America, and is a prime reason why Las Vegas has become a prime destination for real estate investment.


UNLV Lied Institute reports positive growth outlook for Las Vegas

The Las Vegas housing market will continues its historic rise, according the Lied Institute for Real Estate Studies at UNLV. The recent surge in demand from investors and government programs has pushed prices of homes up, causing fewer mortgage owners to remain underwater.

Foreclosures are now at their lowest level since 2008 and the number of underwater mortgages has fallen 34% in the past three years.


Las Vegas home prices predicted to continue their rise

Zillow recently reported that Las Vegas home prices have increased by an average of 30.6% in the past year, and that the median home price is now $156,600. This makes Las Vegas the second fastest growing housing market in the USA, only behind Riverside, CA.

Zillow believes that Las Vegas median home prices will grow another 11.4% by August of 2014, compared to the predicted 5.2% rise across the nation.

Las Vegas remains an excellent market for investment, as there is no sign of letup and the rental market remains strong.


Las Vegas leads the US in home-price gains

The Las Vegas Review Journal is reporting that Las Vegas once again leads the nation in home-price growth with a 24.9% gain since June of 2012. This is over double the national average of 12.1%.

S&P/Case-Shiller published the 20-city home price index showing Las Vegas in the top spot. The next few cities behind Las Vegas are San Francisco (24.5%), Los Angeles (under 20%) and Phoenix (under 20%).


A Private REIT versus a Public REIT

A Real Estate Investment Trust (REIT) is a firm that owns income-producing real estate, for the purpose of earning a return on the money they used to purchase the properties. REITs can own a broad range of property types from residential apartments and homes to commercial office buildings, warehouses and hotels to even hospitals and shopping malls. A important distinction between REITs is those that are public and those that are private.