Many real estate and economic experts alike predicted that the Las Vegas housing market would be left for dead following the harsh economic recession the country endured nearly a decade ago.
However, things are changing for the better: buyers are purchasing used and new properties; homeowners are less ‘house’ poor; scores of developers are building new condos and apartments; out-of-state business leaders and athletes are investing in property in a big way; and, employment wages are climbing.
But if you think the real estate market is promising now, just wait until the puck drops on the ice at the new T-Mobile Arena this fall. You see, the $375-million state-of-the-art-facility on the Strip in Paradise will be home to the Las Vegas Golden Knights, the city’s first-ever professional NHL team. The newly formed expansion team is now a member of the Pacific Division of the Western Conference.
“Las Vegas is poised for a huge boom like we have never seen before,” explains Mahsheed Barghisavar, who owns Mahsheed Real Estate LLC, a popular real estate brokerage here in Vegas. “The arrival of our first NHL team will be a big benefit for the real estate industry and our economy on many levels.”
In mid-June we will know which star players − as well as up-and-comers − will sport Golden Knights jerseys, and right after that professional hockey players and their families will be moving into Vegas, which is big plus for the real estate industry.
What’s even better is that with a new NHL team the population is expected to significantly rise and this means more people will be buying homes and condos while investing back into the local economy.
“A case in point is when the Columbus Blue Jackets were named an NHL expansion team back in 2000-2001,” says Barghisavar. “The city of Columbus, Ohio, experienced an immediate population growth of 10 percent, so if Vegas has similar results, which we expect, well then we should experience between 60,000 to 80,000 new people moving into our community and this is a good thing on the housing market front and our economy overall.”
While the T-Mobile Arena will be home to the city’s new NHL team, the arena will also host scores of MMA and boxing matches, as well as basketball games and big-ticket concerts.
Even more exciting is that the Oakland Raiders just announced that they are interested in relocating to Las Vegas. According to sources in the NFL, the Raiders have secured $1.9-billion in financing from the Bank of America for a 65,000 seat stadium. A new NFL team in Vegas is expected to hit the field in the fall of 2020. Yes, that’s quite soon.
“All this means a big windfall for the real estate industry and of course new professional sports teams and events of sorts will create more jobs and will open up new and dynamic economic opportunities,” says Barghisavar.
Barghisavar also predicts that an NFL team in town will attract over 100,000 new people to the city during the next decade. Again, this is an added bonus for the real estate market and the economy overall.
“Big things are happening in Vegas and now is the time to invest in real estate,” she says. “As more professional sports teams move here, it means housing prices will only go up, so now is the time to buy a home or condo here. Investing in property now will be like a ‘hat-trick’ or ‘touchdown’ – trust me on this.”
As the saying goes – ‘Viva Las Vegas.’ Yes, luck is on our side.
Mahsheed is one of the most widely acclaimed residential Brokers in Las Vegas. With over $30.5 million in sales, she is currently ranked as one of the Top 3% of Brokers in Las Vegas. She has also won numerous awards including the 2016 Silver State Award for Best Las Vegas Real Estate Agent, Top 20 Producer for Realty One Group in 2014, and has been inducted in YPN Top 40 Under 40 Hall of Fame in 2016, and also has been named YPNs Top 40 Under 40 Realtor three years in a row (2013, 2014 and 2015).
Mahsheed is staunchly committed to community outreach. She is an Anti-Bully Activist, and is also a Wish Granter for Southern Nevada Make a Wish Foundation to help children with terminal or life threatening diseases make their wishes come true.