Jan
14
The Las Vegas Real Estate Market
Filed Under Las Vegas, Markets, Slideshow, Teleseminar | 4 Comments
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4 Comments so far
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Filed Under Las Vegas, Markets, Slideshow, Teleseminar | 4 Comments
Click HERE to download a PDF format of this presentation.
Click HERE to download a the audio recording
4 Comments so far
I am concerned about the supply of , or rather the lack of, water in the Las Vegas area. That issue appears to be the “elephant in the room.”
What is your take on it?
Thank you,
Kevin
From Glenn – ICG’s agent in Las Vegas:
It’s ironic that I should get this question in the middle of a rain storm!
Anyway, there’s no doubt that water is a major issue here, and throughout the desert southwest. Our water source is primarily Lake Mead, except for the older properties or the large plots that contain small horse ranches. These properties have private wells that tap into the significant amount of ground water we have in the Las Vegas Valley. Lake Mead, of course, is part of the Colorado River which is fed by melting snow in the Rockies. In many of the recent years snowfall in the Rockies has been lower than normal, so we’ve seen the level of Lake Mead dropping. However, starting several years ago, there have many steps taken here in Southern Nevada to conserve water. This started when it became obvious that this area was going to be one of the primary growth areas in the country. All of the water conservation efforts have been with the idea that our population would likely hit the 3 million mark by 2025 or 2030. There are significant fines for water waste, financial incentives for converting conventional landscaping to desert landscaping (there are ways to have a nice green yard without using large amounts of water), bans on lawns in new construction, etc., etc., etc. Of course the fact that water is an expensive utility helps. You’d be surprised how that particular financial incentive creates conservation!
I guess my point is that there is significant planning in place to accommodate the current and expected growth of Las Vegas.
Glenn
water conservation should be done because we are already having some water shortage these days,”
there is always a need for water conservation specially these days where natural reources are scarce,–