Nevada Real Estate Land

Nevada real estate land would be a general and broad term used to describe almost any form of real estate sales or investment activities in the State of Nevada. It would include homes, office buildings, shopping centers, casinos and hotels, industrial complexes, mobile home parks, apartments, ranches, and raw land.

The common denominator for these various properties is that all of them have suffered severe price declines resulting from the recession that began in 2008. Homes that used to sell for $500,000 are now offered for $200,000, and land for residential development that previously sold for $900,000 per acre now brings $100,000 per acre.

The current recession, however, like all previous recessions in the United States, won’t last forever, and at some point in the future, the economy will begin growing again. And when it does, there will be a lot of room for growth in the State of Nevada. There are 110,000 square miles of land in the state, yet the population is only 2.7 million people. This equates to fewer than 25 inhabitants per square mile. Compare that to almost 10,000 inhabitants per square mile for Washington D.C.

There are no income taxes in Nevada and property tax rates are low. Home prices are very reasonable and the cost of living index is below the national average. The sun will continue to shine most days of the year, and people throughout the United States and the world will continue to travel to Nevada for gambling, entertainment, and recreation. All of this means that eventually Nevada real estate land prices will begin to increase again.

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