Las Vegas Real Estate News and Tips

Now that we've all had time to take down the holiday decorations, return our presents and go grab the deals in the after New Year's sales, it's time to take a look at what may be in store for property values in this new year of 2012.  In yesterday's Las Vegas Review Journal, the business section carried the headline that "Las Vegas home sales set record".

You would have never guessed that if you had read the steady stream of gloom and doom stories that have been constant in the local press.  But here it was in black and white.  The stats they used were based on statistics from the Greater Las Vegas Association of Realtors which doesn't account for the majority of new home sales by builders that never were entered in the MLS.  Even without the new home

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In today's Wall Street Journal, Fed Chief Ben Bernanke is urging Congress to take additional steps to hel[p the housing market.  I try to avoid getting political in my blog posts, and I do support Bernanke's view that the lending standards are choking our recovery.  However, I disagree with the suggestion that our government get involved in the rental market.  For most of the past year, at least half the homes purchased in Las Vegas have been cash purchases.  Many of those purchases are investors who are snapping up foreclosures and short sales to turn them into rental properties.  For the government to start competing with private investors who are risking their own money in converting these properties into rentals would be competing with the very

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As 2011 comes to an end, we are seeing several indicators that the real estate market is beginning to improve across the U.S., and in Las Vegas in particular.  From the Wall Street Journal, we have today's article  which outlines several indicators ranging from National Assoc. of Realtor's report that pending home sales jumped to the highest level in 19 months in November.

A second article in today's Wall Street Journal outlines that the big Hedge Funds have been "buying housing-related investments, betting on a rebound".

The above stories are from a National viewpoint.  In Las Vegas, we are seeing our inventory continue to dwindle.  As of today, December 29, we only have 9253 single family homes, 1612 condos and town homes, and 401 high rise condos

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