This blog is focused on Las Vegas and Las Vegas real estate. However, the last day of the year warrants something different: The top sports videos of the year. Yahoo provides a collection of the best videos of 2007. From the Patriots' records to the Boise State win to Barry Bonds number 756 to Michael Phelps 7 golds they get them all.
Many sports are covered and the actors are either famous or infamous because of their accomplishments. Enjoy...
Las Vegas to Host New Years Celebration
Las Vegas expects some 300,000 visitors this New Years. Many, if not all, of the hotel rooms will fill to capacity. Non-gaming economic impact are expected to come in at around $210 million.
Over the next few years a considerable number of rooms will be added to the valley. Huge projects will result in a great city economic impact.
New Years will be quite exciting as it has been in previous years.
Over the next few years a considerable number of rooms will be added to the valley. Huge projects will result in a great city economic impact.
New Years will be quite exciting as it has been in previous years.
Home Prices Are Down, So Why Not Buy?
Most have heard of the "buy low, sell high" concept. So, now that home prices are down, why not jump in and make that purchase? It seems many buyers are holding out. They want to wait until the market "hits the bottom". There is considerable negative psychology surrounding the industry as a whole and it has made people nervous, if not scared. Ironically, in these times of fear people can get the best deals. Many will miss out because they are looking for some red flag indicating the perfect time to buy. By the time many do purchase prices will be on the rise once again.
For example, the downturn in the Las Vegas market is anticipated to be short lived. With huge numbers of employee needs in the next couple of years residents will be relocating to the valley in droves causing inventory to run dry and prices to climb.
Few mortgage applications are being submitted when the truely savvy are making their move. Wise investors will reap the benefits of "buy low, sell high" while others will jump on the band wagon late and "buy middle, sell middle" or worse, "buy high, sell low" which is what many faced in recent months. The key to wise investment is to go against the grain. Get ahold of our team of Las Vegas Realtors to learn more about the market.
For example, the downturn in the Las Vegas market is anticipated to be short lived. With huge numbers of employee needs in the next couple of years residents will be relocating to the valley in droves causing inventory to run dry and prices to climb.
Few mortgage applications are being submitted when the truely savvy are making their move. Wise investors will reap the benefits of "buy low, sell high" while others will jump on the band wagon late and "buy middle, sell middle" or worse, "buy high, sell low" which is what many faced in recent months. The key to wise investment is to go against the grain. Get ahold of our team of Las Vegas Realtors to learn more about the market.
Bowl Weekend - BYU and UCLA to Las Vegas Bowl
Las Vegas hosts the college Las Vegas Bowl. This year BYU, from the Mountain West Conference, returns to shine again. They go up against UCLA from the Pac-10. Last year BYU outshined the Oregon Ducks. This year they are favored because of recent events in the Bruin coaching staff. BYU lost to the Bruins early on in the season but are expected to win tomorrow. This is their 3rd consecutive appearance in the bowl and the crowd is a sellout. Go Cougs!
Find My Las Vegas Dream Home
Las Vegas housing provides great options for residents and investors alike. You may be looking for a unique 3 bedroom, 2 bathroom, 2-car garage house or you may be looking for a multi-million-dollar mansion. As long as you can qualify for the home you will be able to find it here. Huge spreads with many acres exist for the wealthy. Horse properties exist for the equestrian lover. Golf course properties entice all sorts of golfers. The key is to outline your dream home and let us go find it for you.
Planning to purchase a Las Vegas home? Let us help make the process easier. Please take 5 minutes and provide the important information below so we can begin finding your home for you. We will respond as quickly as possible with your best options. Click for form...
The Good News: No Recession Expected, Foreclosures Down
An MSNBC panel of economy experts gathered at their annual forecast and agreed that, except for a mishap by the government in coming months, there will be no recession. The economy will slow considerably as people spend less and the housing market continues to recover. However, according to the panel, it is not going to get too rough on a national basis. It feels like a considerable change because of the growth of recent years but the economy is expected to grow, none-the-less.
Also, foreclosure filings are down. Though the levels are high, they are down.
Also, foreclosure filings are down. Though the levels are high, they are down.
"Soaring foreclosures have set regulators and lawmakers scrambling to curb the trend, which many economists say could tip the U.S. economy into recession. Plans that make it easier to get a government-insured loan or would freeze interest rates for some subprime borrowers will slow foreclosures, analysts say. But many homeowners remain vulnerable to default." - MSNBCThe two are tied. Actions to minimize foreclosures will likely help keep the economy on a good pace.
Not All Fixer-Uppers Are Built the Same
Many potential home buyers in Las Vegas are holding out to the last minute to time a market direction change just right. Some of them are losing out on great opportunities now, but that's not the point of this article.
Many have invested in foreclosures and fixer-uppers. Some are striking amazing deals, even in a tough market. However, the truly business savvy will win out. At times, the cheapest, seemingly best deal isn't always what it seems. Some properties require the skills of experienced handymen and contractors. First time home buyers and investors should be very careful about "a great deal". It is better to take on a project with moderate margins than to buy a mess that you can't fix. An experienced real estate agent who looks out for your best interests will help you determine how much elephant to bite off.
On the other hand, if you are ready to embark on a major project for considerable gains your agent will be able to help you with that too.
Many have invested in foreclosures and fixer-uppers. Some are striking amazing deals, even in a tough market. However, the truly business savvy will win out. At times, the cheapest, seemingly best deal isn't always what it seems. Some properties require the skills of experienced handymen and contractors. First time home buyers and investors should be very careful about "a great deal". It is better to take on a project with moderate margins than to buy a mess that you can't fix. An experienced real estate agent who looks out for your best interests will help you determine how much elephant to bite off.
On the other hand, if you are ready to embark on a major project for considerable gains your agent will be able to help you with that too.
Celine Dion Says Goodbye to Las Vegas
Celine Dion took her final bow this weekend at the Caesars Palace. After singing a Christmas tribute she brought out her support staff and her family and thanked the crowd for making the journey so wonderful. She has set records with 717 shows across 5 years. She grossed $400 million. She has performed much of that time in front of sellout crowds and has typically drawn great reviews.
It is believed that she is expecting another child and has other professional plans so she has decided to move on. The Las Vegas culture will miss her.
It is believed that she is expecting another child and has other professional plans so she has decided to move on. The Las Vegas culture will miss her.
Las Vegas Local Jay Young to Release Christian, Gospel Album
Today, Jay Young, a Las Vegas local, releases a new Christian Gospel Album "One More Stone". With rich, baritone vocals Jay highlights the energy and soul of gospel music. He communicates his Christian message with strength and conviction and adds even more depth with his harmonizing background choir.
Jay Young also plays a key role in the Saints Unified Voices Christian choir directed by Gladys Knight. The choir performs in special events called "firesides" hosted by The Church of Jesus Christ of Latter-Day Saints. His talents and soulful feel have touched the lives of thousands across the United States and in various places throughout the world.
To preview the album, released today, check out his MySpace Page.
Congrats on the release of your new album.
Jay Young also plays a key role in the Saints Unified Voices Christian choir directed by Gladys Knight. The choir performs in special events called "firesides" hosted by The Church of Jesus Christ of Latter-Day Saints. His talents and soulful feel have touched the lives of thousands across the United States and in various places throughout the world.
To preview the album, released today, check out his MySpace Page.
Congrats on the release of your new album.
Las Vegas Rental Properties Hot
The perception of buyers is that the Las Vegas housing scene is in a lull. So, if home purchases are hard to come by for some, where are they living? The rental market is thriving. Homes are rented. Apartments are rented. If the price is reasonable, just about anything will rent.
Those familiar with Robert Kiyosaki and who follow his real estate teachings should be smiling big. He is a huge advocate for real estate investing. His methods are more than speculate and just buy a house for appreciation. He urges the purchase of many units. His books are an interesting read.
Las Vegas investors have a hard time finding apartments, four-plexes, etc. because most are tied up and few are built in recent years. However, if you have one, they are full.
If you are looking to invest, contact your Las Vegas real estate agent to investigate the rental scene.
Those familiar with Robert Kiyosaki and who follow his real estate teachings should be smiling big. He is a huge advocate for real estate investing. His methods are more than speculate and just buy a house for appreciation. He urges the purchase of many units. His books are an interesting read.
Las Vegas investors have a hard time finding apartments, four-plexes, etc. because most are tied up and few are built in recent years. However, if you have one, they are full.
If you are looking to invest, contact your Las Vegas real estate agent to investigate the rental scene.
Las Vegas Housing May Be in Shortage Again Soon
A low number of housing permits along with a large expected influx of residents moving to Las Vegas for jobs and lifestyle may cause another home shortage by 2009. Thousands of people continue to move to the valley. Thousands have postponed purchasing homes on account of the price correction and are simply awaiting a shift in talk about a safe market. There could be another rush on inventory and a considerable rise in prices.
It's certainly not a time to speculate but it is a time to consider buying while home prices are afforable. Get in touch with a Las Vegas Realtor® to understand your housing options.
"The Southern Nevada Home Builders Association released a report this week which forecasts a shortage in available housing by as early as 2009...The study, conducted by Applied Analysis, found that the 2008 residential housing market will likely remain soft...However, major Strip construction projects set to open in 2009 and 2010 will create a need for thousands of new jobs, which will strongly impact housing availability." - RJ
It's certainly not a time to speculate but it is a time to consider buying while home prices are afforable. Get in touch with a Las Vegas Realtor® to understand your housing options.
Does the Housing Industry Need a Government Bailout?
Some may see the mortgage move by the Bush administration as a bailout for overzealous lenders and borrowers. However, an article by MSNBC about the rate freeze program suggests that the action is not a bailout and in fact, may be just what the country needs.
If the government doesn't get involved many more foreclosures may occur. If so, the economy could take quite a hit. So, the government steps in to save everyone some grief.
Also, the government hasn't necessarily paid anyone so tax payers haven't suffered, yet. Bankers don't lose ground to looming foreclosures and home owners don't lose their savings and/or home.
Now, it doesn't seem that the aid will come to everyone who owns a home with a tough mortgage but it may help relieve some of the pain.
If the government doesn't get involved many more foreclosures may occur. If so, the economy could take quite a hit. So, the government steps in to save everyone some grief.
Also, the government hasn't necessarily paid anyone so tax payers haven't suffered, yet. Bankers don't lose ground to looming foreclosures and home owners don't lose their savings and/or home.
Now, it doesn't seem that the aid will come to everyone who owns a home with a tough mortgage but it may help relieve some of the pain.
Las Vegas Real Estate Statistics (2007 November Month End)
Summary: The number of listings is slowing due to seasonal factors. The average days on market are climbing some affecting some of the ratios. The median prices have dropped slightly.
Las Vegas Listings: (view chart)
As predicted by seasonal changes listings in November dropped by a normal margin. The curve matches other years.
Las Vegas Market Strength: (view chart)
Compared to other national averages and normal sales the Las Vegas market remains steady. Prices have dropped but the average days on market for homes competitively priced remains good, although it has climbed. The key to selling today is pricing a home correctly.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has decreased. The holiday season affects both buying and selling activity.
Las Vegas Median Prices: (view chart)
Median prices dropped some. They're holding steady at between $250k - 260k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The selling season has come to an end. The motivated will get out and savvy buyers will reap the benefits. The national average for days on market is around 90 in a healthy market. Las Vegas homes, which usually sell in less time, that are priced correctly are selling on average for just under that amount still. While the market is in correction gains from years ago are still considerable.
Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
Las Vegas Listings: (view chart)
As predicted by seasonal changes listings in November dropped by a normal margin. The curve matches other years.
Las Vegas Market Strength: (view chart)
Compared to other national averages and normal sales the Las Vegas market remains steady. Prices have dropped but the average days on market for homes competitively priced remains good, although it has climbed. The key to selling today is pricing a home correctly.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has decreased. The holiday season affects both buying and selling activity.
Las Vegas Median Prices: (view chart)
Median prices dropped some. They're holding steady at between $250k - 260k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The selling season has come to an end. The motivated will get out and savvy buyers will reap the benefits. The national average for days on market is around 90 in a healthy market. Las Vegas homes, which usually sell in less time, that are priced correctly are selling on average for just under that amount still. While the market is in correction gains from years ago are still considerable.
Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
Las Vegas Home Situation Sees Positive Values
Las Vegas homes have are a great buy across the valley. In fact, the RJ reports predictions from new home builders stating that even with recent slides in prices the market will rebound. In fact, if you take home values over the past 5 years there is a 50% increase in value. Compared to other suffering markets like California, the correction hasn't been that severe. Even in California the 5 year rise in prices was near 90%. Those who are suffering the most are those who purchased at a poor time. They got fired up when the prices had peeked and that is when they should have waited. The same can be true of today's market. Many indicators suggest a rise in the next couple of years. Potential buyers should investigate the market, work with an agent, and determine the appropriate time to buy. Many are getting in today.
Bush OKs Mortgage Rate Freeze
The Bush administration has come to an agreement with banking industry. In a time when the real estate market is in turmoil a compromise was reached to aid struggling homeowners who entered into dangerous loans.
That means that many will be able to remain in their homes with consistent payments for years to come. The administration is orchestrating a formal announcement and not all loans qualify. More real estate news to come...
"It would freeze introductory "teaser" rates on subprime mortgages, preventing them from resetting to higher rates for five years...Under the administration plan, the rate freeze will apply to loans made at the start of 2005 through July 30 of this year and will cover loans that had been scheduled to rise to higher rates between Jan. 1, 2008, and July 31, 2010." - AP
That means that many will be able to remain in their homes with consistent payments for years to come. The administration is orchestrating a formal announcement and not all loans qualify. More real estate news to come...
Las Vegas Shawn Harris Selected as President of TBAN
Las Vegas CEO and President of SkyWire Media, Shawn Harris, is selected as president of TBAN, the technology branch of the Chamber of Commerce. He has been on the board and contributed considerably to the growth and activity of the alliance.
He was recently awarded for his company's winning the Startup Company of the Year. His company provides tools and services to mobilize content. They are able to market or touch a company's clients by making use of their mobile technologies.
Shawn looks forward to the success and growth of TBAN and SkyWire over the near future.
He was recently awarded for his company's winning the Startup Company of the Year. His company provides tools and services to mobilize content. They are able to market or touch a company's clients by making use of their mobile technologies.
Shawn looks forward to the success and growth of TBAN and SkyWire over the near future.
Las Vegas Welcomes 2 Millionth Resident - Unexpectedly
Las Vegas has been rapidly approaching the 2 million resident mark. Reportedly, the demographics have been under-calculated for along time. Supposedly, 3 months ago the number was reached but no one knew because some 27,000 county residents had gone uncounted.
"The subtle processing error, which had gone unnoticed for some time and involved housing units built in large developments during the second half of a calendar year, resulted in the discovery of about 27,000 county residents who had previously gone uncounted...All of that translated to an official July 1 population estimate for Clark County of 1,996,542. And from that figure has produced a host of guesses about whether -- and when -- the county's odometerrolled over to 2 million."The Las Vegas housing market growth has not declined as much as was expected and it was misreported. So, congradulations Las Vegas!
BYU and UCLA to Play in Las Vegas Bowl
BYU comes off a perfect conference record 8-0 to meet up with UCLA in the 16th annual Pioneer Las Vegas Bowl. They beat San Diego State this past weekend bringing their record to 10-2. BYU lost a couple of games early in the season. Their current overall record leaves them ranked 17.
UCLA finishes 6-6 overall. UCLA was one of the teams that beat BYU earlier this year in Pasadena.
Las Vegas hosted BYU last year as they beat Oregon. It was an amazing turn out with an amazing sell out crowd in the Sam Boyd Stadium. This is one of the many fabulous activities sponsored by Vegas.
UCLA finishes 6-6 overall. UCLA was one of the teams that beat BYU earlier this year in Pasadena.
Las Vegas hosted BYU last year as they beat Oregon. It was an amazing turn out with an amazing sell out crowd in the Sam Boyd Stadium. This is one of the many fabulous activities sponsored by Vegas.
Should I Sell My Home Now?
Many home buyers look to buy a home in a down market. However, selling a home as the market may slide can be very slippery. Not all markets are alike in their current activity. Even with all of the national talk of rough times for real estate related transactions some local markets are strong and thriving. There is no easy answer indicating whether or not to sell.
The best option is to look at your local market. For example, in Las Vegas, the economy remains strong. Job forcasts are very optomistic. Builders are anxious to sell homes. While the resale market is very saturated buyers are in a real winning position. The motivation for selling a home in Las Vegas at this point should be need based and not necessarily fear based. The best thing to do is work with a professional real estate agent who can assess your needs and present all of the factors so you can make an educated decision.
The best option is to look at your local market. For example, in Las Vegas, the economy remains strong. Job forcasts are very optomistic. Builders are anxious to sell homes. While the resale market is very saturated buyers are in a real winning position. The motivation for selling a home in Las Vegas at this point should be need based and not necessarily fear based. The best thing to do is work with a professional real estate agent who can assess your needs and present all of the factors so you can make an educated decision.
Las Vegas Marathon
Las Vegas hosted its marathon with all sorts of events and entertaining motives only Vegas could offer. Many ran the 26.2 mile race to compete, if nothing else, against themselves. However, others had alternative motives. Of some 17,000 racers, a few dozen were married in route. Fire works and a performance by the Blue Man Group made the race, it great running weather, very entertaining. A group of Elvises ran. A man pushing his 4 children in a stroller ran, stopping periodically to change diapers, finishing in under five hours. Other activities and events surrounded the thousands of participants and many feel compelled to return in subsequent years.
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