All Sunny in Vegas

If shown a photograph of women in bikinis and bare-chested men wearing only a pair of surf shorts, one would most probably connect the image to a city in California or Florida.

Both states have had the reputation of being sunny, in a fun way. Vegas sunny, on the other hand, is perceived by many to be scorching and, therefore, is less attractive compared to California’s sun, sea and bikinis, but not exactly true. Las Vegas’ climate is pretty steady. And it is not vulnerable to natural disasters, such as earthquakes, forest fire, mudslides and hurricanes. Many people have realized this and have moved to Las Vegas, not because they want to gamble their life’s earnings. Real estate market studies place the relocation rate to Las Vegas from California around 40 percent. About 17 percent of these migrants say they like the place while some 13 percent foresee better life in Vegas.

Considering that taxes are among the civilized world’s heavy burdens (apart from an obnoxious employer and a bad marriage), Vegas has fewer of them than other areas. There is no personal income tax, state income tax, inheritance tax, gift or estate taxes.

The National Association of Realtors (NAR) reported that a recent slowdown in the housing market has resulted in slower price appreciation and more affordability. While home prices will grow, NAR said increases will be slight. The group expects the national median house price to be around $231,000 for existing and $242,000 for new units. Given this scenario, now may be a good time to look at listings in the Vegas area for the new home you have been wanting to have. Strike while the iron is hot, or in the case of the housing market, strike while the market is still cold.