GLG News by Land Acquisition Experts (US)

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: THE RESIDENTIAL RECOVERY APPEARS TO BE UNDERWAY!

August 18, 2009

Analysis of:Nevada leads in foreclosures as U.S. rate climbs 7 percent | www.lvrj.com

      When people say Las Vegas had a "hot July," they may not be referring to the weather!      Las Vegas' July housing data makes it easy to suggest that the residential market is on the verge of sizzling.      PRICES ARE UP!      INVENTORY IS DOWN!      DEMAND CONTINUES TO SHOW FORMIDABLE STRENGTH!  In fact, at current sales rates, there is now just 2.9 months of available inventory in the existing home market. If less than 3 months of inventory defines a hot market, Las vegas is torrid!

Steve BottfeldPrincipalMarketing Solutions

Las Vegas Residential: ON THE BOTTOM!

July 21, 2009

Analysis of:REAL ESTATE: Outlook for LV housing grim | www.lvrj.com

June housing data powerfully reinforces the idea that Las Vegas is now experiencing a residential bottom.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: RESIDENTIAL HAS FOUND THE BOTTOM

June 23, 2009

Analysis of:HOUSING INVENTORY INCREASE EXPECTED | www.lvrj.com

  May housing data strongly suggests that Las Vegas will experience a bottom to the residential recession in the 2nd quarter of this year.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: A LEADER AGAIN?

May 20, 2009

Analysis of:Home prices slide 14% | money.cnn.com

      This article notes that some communities -- like Las Vegas -- are showing dramatic improvement.     April housing data for Las Vegas continues to show stellar improvement on many levels.  But, the improving data fails to answer two key questions:      (1) Are we seeing a true "moderating" trend beginning to develop as the data suggests: Or     (2) Is this the calm before another recessive storm?        

Steve BottfeldPrincipalMarketing Solutions

POSITIVELY NEGATIVE

May 18, 2009

Analysis of:Home prices slide 14% | money.cnn.com

The National Association of Realtors Reported:     1.  The median single family home price fell 13.8% during the first quarter. That was the largest year-over-year decline in the last 30 years.     2.  The median single family home price slid 6.2% from the last quarter.     3.  Sales volume was weak as well.  Homes sold at a 4.59 million annualized rate in the first quarter, down 3.2% from the last quarter and 6.8% from last year.     While that is a gloomy assessment of the present, the report did include some positive points.  While we don't expect a "turn-around" in the very near future, there were some hopeful signs.

Steve BottfeldPrincipalMarketing Solutions

MORE THAN A LIFE JACKET

May 11, 2009

Analysis of:Big Project in Las Vegas Secures Pact to Survive | online.wsj.com

MGM Mirage's CityCenter, the $9.4 billion-plus resort under construction in Las Vegas, won a crucial victory last week when its lenders and owners struck a deal that guarantees the project will be finished.  With unemployment topping 10.4% in Las Vegas -- and headed higher in the short term -- this project offers three critical positive elements to the Las Vegas economy in the second half of this year.       (1)  It provides vital new employment; (2)       (2) It provides continued employment for those in construction and administration; and (3)       (3) It offers new reasons for visitation to Las Vegas.  In short, the completion of CityCenter is not a life jacket for the Las Vegas economy.  It may be a full fledged lifeboat enabling an escape from a sinking economy. Let me amplify these thoughts:

Steve BottfeldPrincipalMarketing Solutions

STOP PICKING ON LAS VEGAS

April 21, 2009

Analysis of:US Foreclosure Filings Jump as Moratoriums End | www.cnbc.com

    March came in like a lion and left Las Vegas residential real estate roaring.     There was powerful improvement in sales and inventory figures while prices remained relatively stable.  It may very well be that in the future, many will regard March as the bottom of the current downturn in Las Vegas.    I  have said repeatedly that the Las Vegas residential real estate bottom would begin in that month in which the number of foreclosure sales exceeded the number created. That happened in March - and it happened big.     For the second consecutive month, the number of ACTUAL foreclosures fell.  Las Vegas experienced 1,846 actual foreclosures in the month of March, down almost 400 from February.  The number of foreclosures sold, however, was 2,393.  In other words, there was 35% more sales of foreclosures than foreclosures created!

Jim BelfiorePresidentBelfiore Real Estate Consulting

Good News, Bad Information

April 13, 2009

Analysis of:Valley homeowners starting to see mortgage relief from plan | www.azcentral.com

The industry is searching for some glimmer of hope, some good news; unfortunately, this week it came from a misinformed journalist who poorly researched a story that ended up on the front page of the Phoenix Metro Area's main daily newspaper.

Steve BottfeldPrincipalMarketing Solutions

THIS BEAR MAY BE GROWING HORNS ...

March 24, 2009

Analysis of:Building in a bear market | money.cnn.com

  After citing a 10-month supply of existing homes in February, and home sales at their lowest level in many years, this article asks the intriguing question: “Why are homes being built at all?”  It states with some certainty that there is no recovery in the near future.   But, is there a recovery on the horizon?  Is this Bear growing horns?  The key problem with this article is the statistics used are lagging indicators.  

Steve BottfeldPrincipalMarketing Solutions

HOUSING RESCUE SMALL PROBLEM: It won't work ...

February 24, 2009

Analysis of:Housing Plan: Five Things Investors Need to Know | www.cnbc.com

    There's only one small problem with the housing rescue bill: It won't work for the people who need it most.        

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