from ———-Las Vegas High Rise Condo Blog Your #1 source by Makea Turner

Today I though I would put together a few graphs that illustrate the sales at Panorama Towers 1&2, The Signature At MGM, & Turnberry Place, which by the way were the top 3 selling developments for the summer of 08. As you can [...]

Las Vegas is selling single family homes a little faster than we did in July. The number of contingent SFR contracts stands at 3809; the number in pending is 2630.
What is pending vis-a-vis contingent? Given the odd contract scenarios foisted upon innocent buyers by the investor-sellers, there is no difference in this context. Both mean [...]

Here is the updated July 1 to July 31 2008 Single Family Closings graph including all the late postings by the procrastinators according to GLVAR data today. My magic number is 2516.
GLVAR could have a slightly different number when the official number is announced.
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So much for wondering when we would hit 2500.
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Maybe it’s because Las [...]

Contrary to what the local doom and gloom media reported yesterday, Las Vegas home prices didn’t “plunge” 28.4% in May.  Can someone please help their writers get this right?  On three accounts (that I see…though there are bound to be far more) they blatantly distorted the facts to appear far worse than the numbers truly [...]

Here’s what I think happened:
I will try to be brief. This is a snap shot, not a docu-drama, but I had to tell somebody.
The media has a different point of view, of course, but in my experience here in Las Vegas, those greedy investors who are now getting what they deserve and those poor home [...]

Pending Sales:

Here we are at the half way point in July, and pending sales are right where they were last month. June 15 2008 saw single family pendings at 2602 units; July 15 shows 2605 pending units. Also noteworthy, single family contingent sales - those in contract but still subject to inspections or financing, were [...]

Check out the information about the Las Vegas real estate market provided by SalesTraq. Existing home sales showing strong increase. New home sales still on the wane.  Read a more in depth article at the Las Vegas Review Journal.  Resales pass 2,600 units for first month since March ‘07; new-home sales stall

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Our friends at Equity Title have provided us with a wonderfully encouraging graph depicting the pending and contingent home sales over time here in Las Vegas. We haven’t seen levels of pending sales and contingents like these since early 2006. As many of us are seeing on the front lines of Las Vegas [...]

We will get through this… We are the few remaining true business professionals and we will survive!
“The pessimist complains about the wind;
the optimist expects it to change;
the realist adjusts the sails.” - William Arthur Ward
Download a .pdf version of the 1st Quarter Clark County Home Sale Activity by Zip Code.
1st-quarter-2008-home-sales-clark-county
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