Hottest Trends in Real Estate: Miami, Phoenix, and Las Vegas

Marcus Hiles knows that what happens in Las Vegas doesn’t always stay in Las Vegas.  To spin a popular phrase the city uses to attract tourists, the Las Vegas real estate market demonstrates trends that carry over into other U.S. cities.  For example, in the 2006 housing bust, Sin City was one of the first-affected large cities in the United States.  Cities like Miami and communities in Southern California and Arizona soon followed.

Ten years later, and the real estate market is once again booming in Las Vegas, echoing trends that are occurring elsewhere in the country.  Of particular note is the upscale real estate market; homes in Las Vegas priced over $1 million doubled in sales between 2014 and 2015.  Luxury properties and rising home prices, even on so-called “starter homes”, have become the hot trends in the real estate market.

The exterior of a luxurious home.

Mr. Hiles watches the real estate market with a keen eye.  As a successful property developer and investor with billions of dollars in real estate assets to his credit, he understands that smart investors must watch for any signs of weakness in the market and make the necessary corrections to ensure continued success.  As the housing market continues its recovery from the 2006 crash, several industry pundits have noted that some of the factors that contributed to the crash may be reoccurring.  Real estate speculators are flocking to some of the hot markets, and low interest rates are spurring individuals to overextend on home loans.  Many seasoned professionals, however, are saying that this is a perfect time to invest in real estate properties, particularly on the high-end of the luxury market. Rising prices and rising demand for upscale homes makes this a time to strike, and Marcus has been able to shepherd his two property development companies to higher levels of success as a result.

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Mr. Hiles is an expert when it comes to property market conditions in his home state of Texas.  Low tax rates and favorable work environments have attracted many Fortune 500 companies to the state.  Their business professionals eagerly sought out higher-end residences, and the real estate market wasn’t ready for that increased demand.  Marcus was able to capitalize on this demand, developing properties for both the rental and owner markets with his two companies, Western Rim Property Services and Mansions Custom Homes. Western Rim concentrates on the rental market, developing town home, apartment, and condominium properties that offer residents quality, upscale living with affordable lease rates.  The company is responsible for over 20,000 rental units in major cities across the state of Texas, either completed or in the final phases of development and construction.  These developments are characterized by hardwood flooring, rich interior and exterior finishes, and amenities that accentuate the quality of life such as fitness centers, clubhouses, and hiking and biking trails.

A Botanist's Dream: Increasing Arbor Life Tenfoldhttps://t.co/eRMV9KPWwl#arboretum #TreeChallenge #plantbased

— Marcus Hiles (@marcus_hiles) 8 September 2016

Marcus’ other property venture, Mansions Custom Homes, is known for its attention to every detail as it develops and crafts modern architectural masterpieces.  State of the art appliances, energy-efficient lighting and ventilation systems, and environmentally-friendly building practices combine to create sumptuous, luxurious homes in some of the best neighborhoods in the Dallas/Fort Worth metropolitan area. Mr. Hiles understands that when the real estate market signals positive changes, smart investors must be ready to pounce.