No, a rebound isn’t happening right at this minute, but it appears there are a number of those getting prepared for it to come. Just a short while ago I mentioned that I saw a quick blurb hidden away in the Las Vegas Review Journal that quoted John Burns Real Estate Consulting. There it stated [...]

It is that time of year again, when everything goes on sale. Home builders are not that much different from retailers really, they concentrate on moving out statnding inventory to make room for newer models next year. Richmond American just announced it is having a three day sales event on its inventory of Las Vegas [...]

Lennar is holding a year end inventory closeout sale on 29 different communities in the Las Vegas valley on November 8th and 9th. Prices will be reduced up to 25% on standing inventory homes. Lennar is also offering financing through UAMC with 2.99% fixed for the first year, 3.99% fixed for the second year and [...]

Demand:
September Single Family Sales ended up at 2783 units. So, the closing numbers tend to keep filtering in after I take my initial count. September had the highest total of the year so far.
Pending Single Family Homes stand at 5952. That is 140 units below the 15th of last month, but still very strong especially [...]

The following article:
“Florida homeowners to get $1B under Bank of America settlement - Tampa Bay Business Journal”
(link: http://www.bizjournals.com/tampabay/stories/2008/10/06/daily2.html)
says things like, “The first part is focused on home retention. The bank will launch a loan modification program for qualifying borrowers, moving them into fixed-rate, fully amortizing loans that they can afford.”
The article concerns itself with [...]

Who’s afraid of the big bad bailout? Apparently not buyers in Las Vegas. After the final MLS updates have trickled in, Single Family Home Closings in Las Vegas between 9/1/08 and 9/30/2008 total 2671.

This is the highest number of 2008.
This is the first time more homes closed in September than in August in at least [...]

One of our new clients offered some insight into the current real estate market when they said, “You only get hurt on a roller coaster if you jump off.”
Concerning the “bail out” or “buy in” some comedians, Bill Maher for instance, are suggesting possible countries to run to. That seems to me like running to [...]

“I will spend the weekend working with members of Congress of both parties to examine approaches to alleviate the pressure of these bad loans on our system, so credit can flow once again to American consumers and companies,” Henry Paulson (Us Treasury Secretary) told CNN Friday.
I have previously said that “after the elections, the government [...]

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It has been a rough year for many real estate franchises in Las Vegas. My previous affiliation was with C21 Aadvantage Gold which, while I was there, was the top selling C21 franchise in the world for three years in a row. Now, like Merril Lynch, it [...]

Yes, there is chaos on Wall Street. Yes, it will no doubt affect the national economy.The relevant question for this column is, “How will it effect the Las Vegas economy?”
Pending single family transactions are at the highest level of the whole year at 6466 today at 11:30 AM. That is up 143 over the August. [...]