Condo Flippers Beware

Condo flippers in Las Vegas are advised against selling and buying multiple properties in a short period of time. If they cling on to the property for more prolonged period then they could convert the property into capital asset, which can reduce the effect of the taxes and capital losses. By limiting the amount of money spent on the rehabilitation work of the condos the investors can reduce the burden of tax that is put on them.

Some statistics show that Nevada had reached a point of saturation because of increase in new home sales and decrease in new home permits and increase in median price of new houses. Analysts disagree with this view of real estate market reaching the saturation point. The recent decline in the resale value of houses will not affect the overall growth in the real estate market and will easily exceed the last year’s total. There is a 26.7% increase in price for new homes while resale houses shows a increase of 23.4%.