2007 Coming to a Close in Las Vegas

As I write this, 2007 is drawing to a close and we are only a few days away from ringing in 2008! 2007 brought a tumultuous year to the Las Vegas Real Estate Industry. We saw a record number of Las Vegas Foreclosures, lenders closing their doors, loan programs disappearing and even a few major real estate companies filing for bankruptcy. So the question remains, what can we expect to see in 2008?

I believe foreclosures will maintain the level we are seeing as more adjustable rate mortgages adjust, loan guidelines tightening and more real estate companies filing bankruptcy. However, they were will be great opportunities for buyers in the Las Vegas Real Estate Market! Just a few years ago, many buyers were being priced out of the market and now, they have an opportunity to find a home they can afford. New real estate companies will open shop with more of an emphasis as a virtual office thus driving costs down for sellers.

Being a survivor of 2007, I am anxiously awaiting 2008 :)

Las Vegas - No Better Place for Investing

The city of Las Vegas Nevada purchased 61 acres (247,000 m²) of property from Union Pacific Railroad in 1995 with the goal of creating something that would draw more tourists and locals to the downtown area. The Union Park Development, other promising residential and office developments have begun construction around downtown Las Vegas. New condominiums and high rise projects have changed the entire Las Vegas skyline dramatically in recent years. Many large high-rise projects are planned for downtown Las Vegas as well as the Las Vegas Strip.

The primary drivers of Las Vegas real estate and its economy have been the confluence of tourism, gaming, and conventions which in turn feed the retail and dining industries.
The Las Vegas Convention and Visitors Authority handles the Tourism marketing and promotion of the area. Its annual Visitors Survey provides detailed information on visitor numbers, spending patterns and resulting revenues.

Many technology companies have either relocated to Las Vegas or were created there. Las Vegas has had a high concentration of technology companies in the electronic gaming and telecommunications industries.

Population growth means that the housing construction industry is vitally important. In 2000 more than 21,000 new homes and 26,000 resale homes were purchased. Early in 2005 there were 20 residential development projects of more than 300 acres each currently underway making Las Vegas a great destination for investment.

There are plenty of top Las Vegas real estate companies and fine, reputable real estate professionals in Las Vegas to help you purchase an affordable home or find an investment property. If you have questions or would like to research the area further click here for Las Vegas Real Estate or you can contact us for detailed information about local neighborhoods.

Gambling on the Las Vegas Real Estate Market?

Can the commercial boom that Las Vegas is experiencing rescue the Las Vegas residential home market? My opinion, yes! Over the next 5 years, we are going to see the opening of Project City Center which will create 20K to 30K jobs, Echelon Place and Donald Trump’s second tower! There is an estimated 30 billion being spent on new development on the Las Vegas Strip and over the next 5 years we can expect an additional 15 billion to be spent. So how will that affect the Las Vegas Housing Market?

Currently we are seeing an over abundant amount of inventory, which is causing Las Vegas Home prices to fall. I expect we will continue to see home prices dropping into late 2008 and then home prices should begin to level out. As we enter 2009, we will begin to see many of the Las Vegas Strip projects nearing completion. This means they will begin to fill job positions and the local Las Vegas Economy will not be able to absorb all the new job positions that these projects are creating. We will begin to see a migration of people moving into Las Vegas to fill these job positions. With this migration, the Las Vegas Housing Market will see much of its inventory absorbed which should allow our market to stable.

So if I were a gambling man, I would bet on Las Vegas having a strong housing market in 2009! That means if you are going to buy a Las Vegas Home, you should buy before 2009 when Las Vegas Home prices will start going back up!!!

High Performance Seminar

I attended the High Performance Seminar in San Diego yesterday. The seminar was taught by David Bartels and Greg Frost. Greg Frost was the first billion dollar producer in the mortgage industry and David Bartels is considered the #1 expert when it comes to turning leads into deals. They both know a little about the mortgage industry :)

I had the opportunity to have dinner with David Bartels and Greg Frost the evening before and I must say that they are both great guys. I was very supprised that they were also food critics. Because they travel so much, they get the opportunity to eat at many restaruants throughout the country and let me tell you, they know their food!

For those of you that haven't attended this seminar, I highly suggest you attend. Not only is the event free, but they give you some great tips on creating more business!

Las Vegas Real Estate

It is being said that properties in Las Vegas, Nevada now rivals Southern California, Florida and Hawaii. The Manhattanization of Las Vegas is going vertical at the same time new suburban communities are coming on line and while the national Real Estate Market remains flat to down.

Las Vegas is becoming the real estate buying opportunity of a like time. The Las Vegas Real Estate Market today is giving investors one more chance to get in on the future growth potential that will be realized over the next few decades.

If your interested in single family housing, condominium living, or the high-end executive life style - it is done so well in Las Vegas Real Estate. Las Vegas Real Estate is comprised of a rich and diverse population of the buying public.

Few places in the Pacific Time Zone offer the degree of entry level housing, mid-level and mature properties. With one of the longest and strongest housing expansions in history, Las Vegas Real Estate can provide you with the type of home in the style of community you are looking for.

Sellers Want A La Carte Listing!

So I went on a Listing Appointment yesterday in Henderson. I met the sellers and they gave me a tour of their lovely 1 story home. As we took the tour they began to tell me about the interview they had with other Las Vegas Real Estate Agents and how much they would charge them for commission and what type of marketing they do to sell homes. The whole time I felt like they were trying to break me down before I even had the opportunity to go over what I can do for them and what my commission rate was!

Now it was my turn to sit down with them and show them what I do for my clients! As always I went over the most recent sales in the neighborhood and the surrounding area. When I gave them the price I thought they should sell their home, they responded with, well so and so told me we could sell it for a lot higher of a price than this. After hearing this, I spent some time educating them as to why they could not sell for that price because the most recent sales don’t constitute a price that high. When I finished explaining pricing, they seemed to understand?

Next I went over my marketing plan and how I attract buyers for my client’s listings. I explained how important an Internet presence was and I showed them how strong my presence was on the Internet! They appeared to be very impressed and said that they definitely want their home to have that much exposure. When I was finished, I thought this was going to be my listing, boy was I wrong!

When I asked the sellers if they had any questions, they responded with: They liked my marketing plan but wanted me to add a few things that the other agents said they do, they wanted me to list it at the price that one of the other agents suggested and they wanted me to drop my commission to what one of the other agents advised he would sell their home. It was like they were shopping, I want a little of this and a little of that! I politely explained that business is not a la carte and that they can’t add items to the marketing plan and then drop the price significantly! I work hard to sell my client’s Las Vegas Homes! I politely thanked them and wished them success in selling their Henderson Home!

Henderson Nevada - A City of Destiny

Henderson is referred to as the “Other Side of Southern Nevada”. Half a century ago during the visit of President John F. Kennedy at Southern Nevada, predicted that the City of Henderson was a "city of destiny." Little could he have known just how accurate a prediction he had made.

Henderson was "born in America's defense" ten years prior to its incorporation during World War II with the building of the Basic Magnesium Plant. In 1947, the United States War Asset Administration actually had Henderson for sale as war surplus property.

In an effort to save the city, the Nevada Legislature spent a weekend to visit Henderson, to evaluate the possibility of state administration of Basic Magnesium. Within days of the visit, the legislators unanimously approved a bill giving the Colorado River Commission of Nevada authority to purchase the industrial plants. On March 27, 1947, Governor Vail Pittman signed the Bill helping save Henderson from becoming war surplus property.

At the end of the World War II, the Basic Magnesium Plant was declared surplus by the U.S. Government. Acting through the Colorado River Commission, the State purchased the plant and subsequently sold it to private industry.

In April 16, 1953, with the help of local industry, the City of Henderson, Nevada, was officially incorporated. Henderson is described as having small town values with big city efficiencies. The city's official slogan is "Henderson—a Place to Call Home" which reflects a community that enjoys small town values while benefiting from big city efficiencies.

As an increasing number of major shopping malls, movie theater complexes, restaurants and nearby casino resorts offer residents a variety of choices for leisure time. The City supports a variety of other cultural events as well, many of which are held at the outdoor amphitheater, the largest one of its kind in Nevada.

Henderson is also located a few miles from McCarran International Airport, and the Henderson Executive Airport. (recently acquired by Clark County, it is planned for major renovation and development as a relieving airport to McCarran)

Use the following links: Las Vegas Real Estate, Henderson Real Estate, Boulder City Real Estate to find homes for sale and available real estate in and around the area.

Of all the cities within Clark County, Henderson have the brightest future in Southern Nevada. Master-planned residential areas, progressive business development, new roads and public works projects, outstanding parks and recreation facilities and schools serve to make Henderson, Nevada one of the nation's most dynamic communities, preserving President Kennedy's "city of destiny" vision so many years ago and laying the foundation for 50 more years as one of the nation's best and brightest stars.

Las Vegas City Limits

Out of the Approximate 1.8 million people who live in the Las Vegas Valley, 600,000 actually live inside Las Vegas city limits. Over 700,000 people live in unincorporated areas governed by Clark County, and another 465,000 live in incorporated cities such as North Las Vegas, Henderson and Boulder City.

Las Vegas is situated on the arid floor within Clark County. The surrounding environment is dominated by desert, vegetation and some wildlife. A concerted effort made by city officials to diversify the economy from tourism by attracting light manufacturing, banking and other commercial interests.

In early 1990s the city's rapid growing population, the new Chinatown of Las Vegas was constructed on Spring Mountain Road. Chinatown initially consisted of only one large shopping center complex, but the area was recently expanded for new shopping centers that contain various Asian businesses

With this Strip expansion, the downtown area which has maintained an old Las Vegas feel began to suffer. The Fremont Street Experience was built in an effort to draw tourists back to the area and has proven to be popular in that regard. The multi-level Neonopolis, complete with 11 theaters, was built to offer more retail opportunity and services.

Many high-rise condo projects have also been underway as the downtown area is transforming into a livable neighborhood. On April 2005, the Internal Revenue Service (IRS) operation from the far west of the city to a new downtown building was opened. The Internal Revenue Service (IRS) move is expected to create a greater demand for additional businesses in the area, especially in the daytime hours.

Henderson Nevada

Henderson Nevada was named as the fastest growing city in America by the U.S. Census. The City of Henderson is recognized as the gateway community into the Las Vegas region. It is separated by mountains and desert from Boulder City and the Lake Mead Recreation Area. As of April 2002, the City of Henderson Nevada's is population was over 207,640. This ranks Henderson as the second largest city in the State of Nevada.

On December 1999, Henderson overtook Reno to become the second largest city in Nevada. Henderson, Nevada forms the southeastern edge of the Las Vegas Valley.

Located just 7 miles from the famous Las Vegas Strip and a mile from beautiful Lake Mead, Henderson is known throughout the nation for its premiere planned residential communities, outstanding parks and recreation facilities, cultural activities and a growing business community. Henderson has claimed a number of national titles in the past years.

The City of Henderson has become one of the nation’s most dynamic communities and in 2006 was named one of the top 20 cities in America by MONEY Magazine’s annual "America’s Best Places to live". The development and a variety of real estate and homes to choose from make Henderson "A Place to Call Home." Housing and construction industries have kept up with growth and a wide variety of homes are available in every size and price range.

Henderson provides an outstanding quality of life that has become synonymous with the City. Henderson is the only full-service city in Southern Nevada. The City has dedicated police, fire and utility services to more efficiently serve its residents.

A favorable tax structure, Henderson has attracted numerous businesses. The Henderson's Economic Development Department continues to connect new businesses with our community. The local Chamber of Commerce has an important role in the economic development of our area.

Henderson also enjoys mild winters with warm, dry summers.

Las Vegas Nevada

Las Vegas is often abbreviated as simply "Vegas". The most populous city in the state of Nevada, United States, and an internationally known resort, shopping, entertainment and gambling destination. Las Vegas was first established 1905 and became an official in 1911. In the United States it is the 28th largest city. The population was 478,434 as of the 2000 census.

Las Vegas is the center of gambling in the United States and the world, aside from Atlantic City, a much smaller gambling city, in the southern section of New Jersey. Las Vegas is commonly known as “The Entertainment Capital of the World” famous for its casino resorts and various degrees of adult entertainment. It is referred also as "Sin City", with a tag line of "What happpens in Vegas, Stays in Vegas". In recent years the city has stopped using this moniker in its marketing. The city's image has often made it a popular setting for films and television programs.

Las Vegas in English, "The Meadows" was named by a Spaniards in the Antonio Armijo party, who used the water in the area while heading north and west along the Old Spanish Trail from Texas. In the 1800s, areas of the Las Vegas Valley that contained artesian wells that supported extensive green areas or meadows (in Spanish Vegas), hence the name Las Vegas.

Las Vegas started as a stopover on the pioneer trails to the west. In 1900s, became a popular railroad town. It was a staging point for all the mines in the surrounding area, especially those around the town of Bullfrog that shipped their goods out to the rest of the country. The growth of the railroads, Las Vegas became less important, but the completion of the nearby Hoover Dam resulted in substantial growth in tourism.

The constant stream of tourist dollars from the hotels and casinos was augmented by a new source of federal money. This money came from the establishment of what is now Nellis Air Force Base. The military personnel and casino job-hunters helped start a land building boom which still goes on today.

The city is located in an arid basin surrounded by mountains varying in color from pink to rust to gray. The city's elevation is around 2030 feet (620 m) above sea level. Within the city, there are a great deal of homes for sale and investment properties in the area. Because of water resource issues, there is now a movement to encourage xeriscaping instead of lawns. A part of the water conservation efforts include scheduled watering groups for watering residential landscaping.