The thrill of gambling in Vegas is hard to beat, but betting on a long-shot in real estate is probably not in the cards. Have no fear; with about 7,000 people moving to Vegas each month and no slow down in sight, you can beat the “house odds.” Many speculate that the boom over the last year or so (a growth increase of 58%, rated first in the nation), is sure to climb.

Investors began to notice the hot market as well and moved in droves to build their fortunes in Clark County. So, what’s an out-of-towner to do when contemplating a big bet on Vegas property?

Trends: While short-term plateaus and even declines in the market happen, these are the trends that will have a strong effect on the long-term market:

Californication
With over half of Vegas visitors and about 40% of the new residents moving from CA, the influence is inevitable. “There is a definitive migration from California,” exclaims pioneering Las Vegas realtor, Paula Jones. “Vegas offers Californians the opportunity to get twice the house at half the cost.” And the proximity of CA to Vegas is a strong influence on the market, too. Housing and land costs will always be lower here, but the gap will shrink over the next 3-4 years.