GLG News by Land Acquisition Experts (US)

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: New Trends

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. 

Steve BottfeldPrincipalMarketing Solutions

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:

Steve BottfeldPrincipalMarketing Solutions

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.  

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: No Bottom Yet

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.   . 

Steve BottfeldPrincipalMarketing Solutions

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

Steve BottfeldPrincipalMarketing Solutions

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.  

Steve BottfeldPrincipalMarketing Solutions

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:

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS IS BACK, BABY!

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.

Steve BottfeldPrincipalMarketing Solutions

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.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: On the Road to Recovery

May 20, 2010

Analysis of: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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