Cheap Nevada Land
Prices for cheap Nevada land can be both absolute and relative. Within the state, you can find some of the cheapest land in the United States of America, and you can also find relatively expensive land that has suffered some of the sharpest price declines in the United States.
If you purchase at least one square mile, you can still find land available in remote areas of Northern Nevada for under $200 per acre. This would be among the lowest per-acre land prices to be found anywhere in the United States. The only other states where one might be able to find comparable land prices would be in Wyoming or Texas.
On the other end of the spectrum, there are 23.5 commercially zoned acres just off the Las Vegas Beltway for “only” $187,000 per acre. That was the price Lightstone Group, from New York City, recently paid in a foreclosure sale. But surely, this isn’t “cheap” land, is it? Well, it is if you consider that a Newport Beach, California, developer paid $1,285,000 per acre for the land just four years ago. And this certainly isn’t an isolated case, as there are countless situations like this all over the State of Nevada.
The current economic recession that began in 2008 has devastated real estate prices throughout the nation, and no area has been hit harder than the State of Nevada. However, isn’t purchasing assets that are temporarily out of favor—such as buying straw hats in the winter—the key to creating substantial future profits?
Is the current massive devaluation of real estate prices in Nevada only a “temporary” situation? It is unless you assume that the human race will stop reproducing and that the population will begin shrinking; that Nevada’s beautiful Southwest weather will end and that it will become like North Dakota’s; that people will cease enjoying resort entertainment and gambling; and that “snowbirds” from the Northeast will quit coming to the Southwest!
If none of the above happens, then cheap Nevada land just might be one of the better financial opportunities anyone has seen in many years!