Cedar Village – Apartments of Choice

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                      Cedar Village – Apartments of Choice

There are rumors and opinions that the Las Vegas real estate market is heading for a crash. I
beg to differ. I agree that the rise in rates has not been as high lately as it was in the dizzy
days of the past two years, but that is because certain projects were overpriced and if there is
a drop, it is only making the prices more realistic. Investors in Las Vegas properties will still
make a decent profit because the number of people coming to Las Vegas is only increasing
everyday. Las Vegas real estate investors should expect a lower rate of appreciation
compared to the last two years.

Nevada has shown the fastest population growth in the nation for the past eighteen years and
in 2005, about 7,200 people moved here every month making that almost 86,500 in just one
year. The number of tourists in 2005 touched a staggering 40 million.

The economy is booming here because of tourism and the construction jobs available. A
growing economy and population will continue to drive real estate prices upward. Inflated
prices have created a demand for housing under $200,000 and there are over thirty high-rise
condominium projects currently under construction. This has also led to the conversion of
15,000 apartment units to condos. Out-of-town buyers will pick up most of these condominium
units that range in price from the low $200,000s to several million dollars.

The high-rise development has not had a direct affect on the local housing market. The strong
economy has seen to that but the dramatic increase in price of starter homes has resulted in
many young families and retirees seeking rented accommodation. The city has a growing labor
force of construction workers and workers to fill new positions in the growing entertainment
and hospitality industry. Most of them seek rental housing at least to begin with. There is an
acute shortage of apartments in Las Vegas and apartment demand is expected to increase
rapidly. One of the most incredible rises in the real estate market was the 346-unit apartment
complex that sold for $12,750,000 in April of 2004 and then resold in January for $40,500,000.

There is very little land available for development in the central part of Las Vegas and if you
are working in the city, you may not want to move too far out. In east central Las Vegas near
Stewart Avenue and Mojave Road, you could find just what you are looking for in Cedar Village
Apartments on East Cedar Avenue. This is a gated community with a gated entrance having
remote controlled access. Security is further enhanced by the presence of foot patrol. The
apartments range from one to three bedrooms and have large eat in kitchen, well equipped
with dishwashers etc. The rooms are fitted with vertical blinds, air conditioning and free
satellite TV. Most have either a balcony or a patio and there is laundry facility as well.

Common facilities include playgrounds, a swimming pool and hot tub and spa and there is
convenient public transport as well. The only snag for animal lovers is that they have a no pets
policy. Nevada Housing Division recommends the complex and assists in finances.




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