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Las Vegas, which is now considered to be the fastest growing city in the United States, is going through a real estate boom, with real estate prices soaring without any sign of coming back down. The real estate boom in Vegas has become the pot of gold for many real estate investors since the market for foreclosures, government property, and pre-foreclosures is astounding. It was reported recently that the state actually has the second highest foreclosure rate in the nation.

One factor in Las Vegas real estate is the rise of new condos, which seems to be driving up the value and price of real estate. Investors are buying land and making a bundle on their luxury high rise condos and hotels. This new construction has been making acreage go at a premium price, with average prices per acre soaring over $600,000. While this real estate boom is great, many people wonder if it is too good to be true, and if the bubble is about to burst.

There are many people who feel that the real estate boom is close to being over in Las Vegas, while others debate that with the growth of the city, the boom is just getting started. One thing that is true, is that currently property does not seem to be losing any value at all, in fact it still seems to be gaining. Las Vegas real estate that is near to the strip is going for astronomical prices, with some nearby properties actually being listed at more than one million dollars per acre.

For the investor, Las Vegas real estate looks like a great place to invest; however, one should do so with caution. If one is not a savvy investor, they could end up dealing with loss in this high stakes real estate market. So, it seems that the jury is still out on whether Las Vegas real estate is destined to continue to skyrocket, or if a plummet in value is in sight.

Investing in foreclosure property in Las Vegas may be the best option, though, as this will allow you to get property at a cheaper price than you otherwise might.