Nevada

March 2008

Mar. 31, 2008 - Media Focused on The Negative

All the negative news is creating a crisis of confidence experts say:
This is a story from the Gwinnett Herald by reporter Brian Patton

Rajeev Dhawan an expert heard a lot on MSNBC, CNN, CNBC, NBC, CBS and the Bloomfield report speaking at a conference over the weekend has been quoted as saying "he sees the current economic problems as a Crisis of Confidence by the American Public." He feels a lot of this is brought on by the focus on BAD NEWS.

The second speaker was Stephen Phyrr, senior managing director of Kennedy Wilson and Executive Director of The American Real Estate Society of Austin, Texas. Phyrr has spent much of his career studying the effects of the cyclical economy on the real estate market.

To quote Mr Phyrr:

" he sees a positive overall forecast for the economy and real estate in general. His conclusions are summed up in six points:

1. Overall, the positives outweigh the negatives going forward. The lack of confidence of the American public reflects the media's emphasis on the "bad news" and creates a biased picture of the real estate environment.

2. The financial markets have overreacted to the real credit crunch of 2007, making financing difficult for investors throughout 2008.

3. Real estate will fare relatively well over the next three to five years compared to other asset classes.

4. Investors will go back to the fundamentals of improving property values by improving property management, and not by using financing as a vehicle to make sense of an investment.

5. There will be plenty of financing for real estate, and lenders will look for diversified types of real estate to finance.

6. Multi-family property investments will be a beneficiary of the housing finance and home building crisis of 2007.

Additionally, Phyrr discussed the importance of understanding real estate cycles. Real estate undergoes up and down cycles. Boom cycles have averaged 10 to 11 years and bust cycles have averaged five to six years over the past 30 years. Our last real estate boom topped out in 2001 and real estate values have been on a decline since then. So, based on the cycle timing and some other positive attributes, we are near or at the bottom of the down cycle and look forward to an upward trend in real estate values."

All in all now is a great time to buy in Las Vegas, prices will not continue in the downward spiral they have been in. California, Nevada, Arizona, and Florida have felt these effects early and will be the first to recover.

So if you are thinking of moving use the tips above and don't wait too long.

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Mar. 30, 2008 - Yes you can ski in Las Vegas

Yes there is snow in southern Nevada!!!

Who would even think that about 45 miles from the hear of the Famous Las Vegas Strip is a mountain that has snow on it and people actually ski. If you are in Vegas and want to get out of the hustle and bustle this is well worth your drive.

Do you know the way? Click here to get there

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Mar. 12, 2008 - Good News For The Las Vegas Buying Market

If you are looking to move to Las Vegas and buy a home in Las Vegas NOW is the time to buy. Sales rose in Feb. 11.7%. The inventory of homes rose to 22,497 so there is plenty for you to buy here in the Las Vegas market. There are some GREAT deals to be had.

The median price of home in Las Vegas is down to $246,500, down 20.6% from the same time only one year ago.

Read the whole story here

Then if you are thinking about moving to Las Vegas give me a call the buying market is fine, dive on in!
I will find you the perfect place to call home.

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All about Nevada, Traveling in Nevada, The Real Estate Market in Nevada both for buyers and sellers, A few traveling tips. A little bit of everything. Enjoy!!!!!