GLG News by Mr. Steve Bottfeld, Principal
GLG News is now G+ Insights
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G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.
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Las Vegas real estate: A happy new year?
January 20, 2012
Santa Claus was very kind to Las Vegas in December, leaving several unexpected gifts. However, as he and Mrs. Claus celebrated the New Year, he began to understand why he didn’t see a lot of cookies and milk near the Christmas trees in the Las Vegas homes he visited.
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A merry Christmas for Las Vegas real estate
December 21, 2011
With apologies to Charles Dickens, both Tiny Tim and Ebenezer Scrooge would be pleased with Las Vegas housing statistics for November.
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Las Vegas housing market gives reasons to be thankful
November 23, 2011
Thanksgiving is a time to reflect on the past as well as the future. The best way to look at October data for the Las Vegas real estate market would be to think of the Pilgrims landing at Plymouth Rock.
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Las Vegas residential sales statistics: Trick or treat?
October 19, 2011
With Halloween less than two weeks away, we can’t tell if Las Vegas September residential housing data is a trick or a treat.
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Las Vegas real estate market: August data suggests bottom formation
September 21, 2011
This has been an unusual summer for Las Vegas residential real estate. The city’s unemployment increased for the fourth consecutive month, but residential housing statistics suggest that the worst may be over.
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Has the Las Vegas housing market found a bottom?
August 29, 2011
The shadow of seasonality falls over Las Vegas housing statistics for July. But, that shadow is very thin. Does this data mark the beginning of the end of the housing slump in Las Vegas?
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LAS VEGAS NEW HOME MARKET IMPROVING
July 19, 2011
Evaluating June residential data for Las Vegas is like conducting an electrical experiment. One moment the current is positive. The next, it is negative. And, there are a few minor shocks along the way.The new home market may be showing signs of very slight improvement. And, despite the cloud of potential future foreclosures, June data for existing homes appears to show the market is maintaining a steady pace on several levels.
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May Las Vegas Data: On the cusp of a change?
June 21, 2011
May real estate data for Las Vegas is a mixed bag of positives and negatives. And, while there is still much more negative than positive news, we may be just on the cusp of a better future. Yes, unemployment is still horrendous at 12.4%, but there is some growth in the construction job market.
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LAS VEGAS: Could April be the Beginning of the Bottom?
May 17, 2011
There is one word that aptly describes the April residential data for Las Vegas: Strange.That is a particularly accurate expression for the new home market.
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March 22, 2011
There’s an old expression: “There’s light at the end of the tunnel.” People forget that sometimes that light could be an oncoming train.For those who hoped Las Vegas would enjoy a speedy housing recovery, February data will come as a major disappointment. Nearly every facet of the residential market is at or near a bottom. And, there are only one or two very faint glimmers of hope for the future.
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February 22, 2011
Las Vegas housings statistics for January suggest four trends: 1. Existing home pricing is likely to continue to decline in the near future; 2. Short sales reflect a change in the existing home sales market; 3. Inventory and sales appear to be in the process of stabilizing; 4. The New Home Market may fare better in 2011 than it did in 2010.
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LAS VEGAS: 2011 SHAPING UP TO BE BETTER YEAR
January 19, 2011
Las Vegas housing data for December offers more questions than answers. But, it may hold some clues for the future. There is little difference between annual sales, inventory or pricing data for 2009 and 2010. Has the Las Vegas Housing Market found equilibrium? A bottom? Or does it mean we are standing on a precipice from which we are likely to fall further? There are no quick answers. But, the tiny differences between 2009 and 2010 numbers may have great import for 2011. Here’s why:
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LAS VEGAS: Foreclosure Crisis Stifled and Shifting
December 21, 2010
The Las Vegas foreclosure crisis may not be over, but it is entering a new phase. It is shifting to short-sales.Each month, Las Vegas housing data is scrutinized seeking numbers that have changed significantly. Our task is to figure out the importance of any change.This year, we have seen significant numerical changes on only three occasions. Two were found in the month of November and both have critical implications for the future of Las Vegas real estate, particularly the REO market.
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November 23, 2010
October housing statistics proved to be as scary as the holiday associated with that month. For those hoping to see some indication that the worst is behind us and recovery is just around the corner, October data will come as a disappointment. It looks like Las Vegas could be in for another two years of rough sledding in the housing market. Yet, there is good news. .
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LAS VEGAS: Something Old, Something New
October 26, 2010
A recovery sits on a three-legged stool: (1) sales growth; (2) inventory reduction; and (3) rising prices. Las Vegas’ recovery sits on a very wobbly stool. As you review Las Vegas September housing data, the one word that comes to mind is “Bottom.” That does not mean that September is the beginning of an uptick, but merely a continuation of data that appears to traveling in a very narrow range. And, that is a positive rather than a negative. Here are the details
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LAS VEGAS: August Real Estate Data is a Mixed Bag
September 21, 2010
August real estate numbers for Las Vegas were a mixed bag of small increases and decreases resulting in no major change from either last month or last year. The Las Vegas housing market in August was "stable." Sales and prices remained stable while resale inventory showed a modest increase. Permits, however, decreased for the second consecutive month, suggesting that homebuilders remain cautious about the future. Market movement may not have been major, but there were interesting changes.
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A NOT SO HOT SUMMER FOR LAS VEGAS
August 18, 2010
It is summertime in Las Vegas and everything is hot except the real estate market. July is traditionally a slow month for Las Vegas residential product and this year more than honored that tradition.Sales slowed. Prices remained static. Inventory enjoyed a very uneven performance.Here are the details:
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July 20, 2010
The big news is that Las Vegas' new home market appears to be on the rebound.After nine consecutive months of visitor increase, two consecutive months of increased gaming win ... and despite 14.5% unemployment in June ... local housing statistics for Las Vegas contained three shocking numbers and the portent of better times to come.
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LAS VEGAS: Entering a New Real Estate Phase
June 22, 2010
Two key factors should have severely damaged May Las Vegas housing stats. --- Nevada had the highest unemployment in the nation. --- Special Federal funding was withdrawn at the end of April.Surprisingly, the negative impact was much gentler than expected. Concentrating on just those two stats overlooks another -- perhaps more important -- indicator: Las Vegas appears to have entered the second phase of its foreclosure crisis … and thus far it appears less damaging than it might have been.
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LAS VEGAS: On the Road to Recovery
May 20, 2010
It's Reset Time For Valley Real Estate | www.lvrj.com
Las Vegas April housing data is a mixed bag containing some good news, some great news and a little news that less than attractive. However, even as Las Vegas continues the positive trend found in the first quarter, the market cannot yet be called “in recovery.” But, that’s the direction the data suggests the market is moving. In April, sales were strong, inventory fell slightly and prices remained relatively stable. Here are the details:
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