'Cali to vegas Connection'
Moving from California to Las Vegas is a hot topic recently. With tax changes and the CA real estate market locking out younger home buyers and preventing others from trading up, a growing number of Californians are looking for change. Many are starting to realize that metro Las Vegas is changing, as well. With new national sports franchises (Las Vegas Raiders), large corporations (Amazon & Google) moving in, and a growing and increasingly diverse economy, Las Vegas is showing that it is much more than a casino destination that brings back imagery of the Rat Pack and show girls. Away from the strip, the valley is filling with new home, retail and commercial development. Modern hospitals, suburban parks and non-casino based entertainment options abound. It has quickly become a very compelling destination for relocation.
Many of you have heard about the “California Exitus”, or just in general the many people moving out of California to states like Nevada, Arizona and Texas. There are various reasons for folks wanting to move. We hear things such as……”I cant stand the smog and the traffic anymore.” | “Natural disasters like mudslides and earthquakes make me nervous.” | “I am getting eaten alive by state and local taxes. Not to mention, the future proposed tax changes being talked about is scary.” | “I cant afford to become a home owner and don’t feel like there is even a hope in the future with the high cost of homes.” | “ I’m becoming more concerned about the open boarders, political climate, heavy regulations.” …and the list goes on…
We understand that the thought of moving cities is scary. Our founder made the same decision 20 years ago, and has enjoyed the benefits the Las Vegas Valley has offered ever since. Our goal is to make the process as easy as possible, to allow you to improve your quality of life and financial footing. Many of our past clients have been able to convert equity in their CA home into living mortgage free in Las Vegas. Others have found themselves able to afford a primary home, and still have resources available to buy cash generating investment property and make true steps towards their financial goals. All enjoy the most obvious difference, how much further the housing dollar goes in Las Vegas.
It is important to note that not all of our clients selling in California and buying in Las Vegas are moving. We have served many investors who have divested CA investment rental holdings, and used 1031 exchanges to find new properties with improved CAP Rates, better cash flow positions, and appreciation upsides they were not experiencing in CA. Whether homeowner or investor, there is a common thread in the Cali to Vegas transaction. Our clients are looking to improve their financial future.
The Seamless Transition
First Full Service Realty has built a program to make this process as seamless as possible. With our brokerages in both states, you can enjoy the benefits of having a single agent representing you for both of your transactions.
The benefit of this is not only getting the knowledge and experience of an expert who knows both geographical areas very well, but also the fact that we really treat our clients like family. An extremely important example of why this matters is when you go to make an offer in Las Vegas contingent upon the sale of your home in California, it can often be frowned upon or turned down due to the fact that the seller in Las Vegas is concerned about the home in California closing. They don’t want to tie their property up and then take the chance of having to start all over again if the sale in California falls through.
When First Full Service Realty is representing both sides, we are in control of the situation in California so we can assure the seller and their agent in Las Vegas that the sale is going to close, or at the very least keep them updated day-by-day on what is happening with the sale in California. This has proven to make sellers and their agents in Las Vegas much more comfortable accepting a contingent offer.
We also help organize moving logistics, utilities hookups, provide relocation guides, school district information and can answer and satisfy just about any other question or concern one may have. Our main priority is to make the transition as smooth as possible, while of course, getting the most money possible from the sale of your home and getting you your dream home for the best deal when you purchase. We really take the time to advertise and market on the sale of your home and spend as much time as it takes to find the perfect home in Las Vegas to fit your situation and needs.
Contact us today for a free consultation to better understand how a move to Las Vegas could work for you.
About Las Vegas
The largest difference in living in Las Vegas compared to California is cost of living. The average home in California is $750,000 (with a median income of $80,440) compared to the average home in Las Vegas being $355,000 (with a median income of $56,354). Thats an average difference of $395,000 dollars!
That means the average cost to own a home in relation to household yearly income is 7.2x – 12.3x in California compare to just 4.5x in Las Vegas!
This leaves 10s of thousands of expendable dollars to invest, put into upgrades, vacation with or to just do what you want with!
California is known for their nationally ranked high taxes! With income taxes averaging approximately 13% of your income, Las Vegas is at 0%! You read that right. THERE ARE NO INCOME TAXES!
Las Vegas also has no corporate or inheritance taxes!
With 2 million residents, Forbes recently listed Las Vegas as number one in the country for job growth. Ranging from hospitality, to gaming, to the local Nellis AirForce Base, to an up and coming Tech scene, Las Vegas boasts that they can facilitate jobs for just about any industry.
Get ready for the sun! Las Vegas sees temperatures well into the 100s of dry summer heat, compared to California 83 degrees. Although a dry summer heat, higher temperatures last longer through the season allowing for more time for the pool, golf, hiking or whatever you enjoy most!
We all hate being stuck in traffic! In most cases, you can get anywhere in Las Vegas within 40 minutes, with much less road time than other major cities.
California residents spend on average 74-81 hours per year in traffic, compared to Las Vegas with an average 22 hours in traffic. Thats almost a full 3 day vacation you can take your family on rather than sitting in traffic.
With Las Vegas McCarren International airport’s prime location and ease to get to and from, traveling by plane to just about anywhere is simple! Drives to California, Utah and Arizona, typically within 4-5 hours, makes Las Vegas a good central location for traveling.
We understand! California beaches, the Pacific Ocean, food scene, wine country etc, why would you want to move! If it’s entertainment you want, Las Vegas is known for the entertainment capital of the country for a reason.
From “The Strip”, to the gaming scene, to outdoors activities (Red Rock, Mt. Charleston, Lake Mead, Lave Havasu, National Parks, and near by Grand Canyon, Hover Dam, etc., there is plenty to do right from Las Vegas.
Keep in mind, if you miss some of the California activities, a flight or drive puts your right back in the mix within hours.
Earthquakes, wildfires, mudslides, smoggy pollution…say goodbye! Leave those California catastrophes behind!