Las Vegas Nevada Real Estate tops the charts

Las Vegas Nevada Real Estate tops the charts by Joel McDonald

According to market data regarding online searches for real estate across the nation, Las Vegas Nevada was the single most often searched real estate term for the month of August. The second most commonly searched area was Charlotte North Carolina, yet Las Vegas was searched nearly 60% more often than Charlotte. (Las Vegas real estate had 357,594 searches, while Charlotte came in a distant second with 226,712 inquiries about the housing market.)

This comes as a surprise considering most forecasters are saying Las Vegas real estate is slowing down. However, there may be a couple explanations. Although things are slower compared to recent years past, Las Vegas is still one of the "warmer markets" across the nation -- especially at this time of the year. Most areas with warmer climates tend to see a surge in popularity as winter approaches. While everyone else is hunkering down to prepare for winter, many retirees considering a second home start to look where the weather is warm.

One other reason the Las vegas market is likely so popular is because Nevada has no state income tax. For those with high taxable incomes, claiming a primary residence in Las Vegas can mean an instant 3% to 7% raise depending on what income taxes are where they currently live. Multiply a 7% income tax savings by a $200,000 or $300,000 salary, and your Nevada real estate investment can afford to lose 7% a year and still break even! Talk about hedging your bets...

One last explanation for this surge in popularity Las Vegas has seen could be attributed to the fact that Donald Trump has "let it slip" that sales of luxury condominium units in the second Vegas Trump Tower will coincide with next season of "The Apprentice". 20 million loyal viewers being curious about the Las Vegas real estate market and doing homework online could very well explain that surge. Next month's online traffic for Vegas real estate will certainly prove or disprove that theory.

About the Author
Joel McDonald is the CEO of Automated Homefinder -- an online company specializing in the Denver Colorado Real Estate market. If you'd like to do some research of home values on your own -- anywhere in the country, visit Automated Homefinder's free home evaluation tool-- Automated Home Appraiser
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