GLG News by Land Acquisition Experts (US)

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: January housing data indicates no bottom

February 17, 2009

Analysis of:FORECLOSURES IN LAS VEGAS DROP IN JANUARY | www.lvrj.com

    Las Vegas real estate stumbled to the worst January in modern times.     Sales and pricing fell.  The number of foreclosures rose.  Year over year existing home sales rose sharply, but were still below December's total.     The only ray of sunlight in a cloudy sky appears to be declining inventory totals.    

Steve BottfeldPrincipalMarketing Solutions

THE PRESENT IS NOT THE FUTURE

February 9, 2009

Analysis of:Home prices fall at record pace | money.cnn.com

    There is a simple truth: Developers won't build homes to sell at prices lower than the cost of construction.     What this article failed to show us is WHY new home prices are falling.     The article failed to note, for example, that there is now a far smaller inventory of new homes than there were last year.     It did not mention the impact of foreclosures on the new home market.  It did not mention that foreclosures are being sold for LESS than the cost of replacement.     The bald facts are not enough for an article like this.  And, the article did not paint the whole picture.     

Steve BottfeldPrincipalMarketing Solutions

2009 is a transition year

January 20, 2009

Analysis of:Housing Rebound? How about 2011 | www.lvrj.com

    NO ONE can accurately forecast a local 2009 economy.      There are simply too many unknowns.  A single "black swan" could change everything.      We have no idea when -- if at all -- the various "bailouts" will impact not just the American consumer but the housing industry.  So, let's look at 2008 for some clues about where the Las Vegas market APPEARS to be going.          

Jim BelfiorePresidentBelfiore Real Estate Consulting

Desert Ridge: Down But Not Out

December 24, 2008

Analysis of:Development Halts Desert Home Project | www.azcentral.com

Despite Pulte Homes', Toll Brothers', and D.R. Horton's (as well as others) decisions to walk from land, homebuilding remains profitable in the Desert Ridge area.

Steve BottfeldPrincipalMarketing Solutions

SPOILING THE LAS VEGAS GRINCH'S HOLIDAY

December 23, 2008

Analysis of:Experts say it's plain: Housing pain to remain | www.lvrj.com

    The Grinch's Holiday Season in Las Vegas may not give him as big a smile as he expected.     Of course, The Grinch started November data by giving Las Vegas its worst unemployment figures in more than a quarter of a century.  He grinned broadly when he added in declining figures for visitor traffic and gaming win.     Then he added in the real estate statistics ... and his smile waned a bit.

Steve BottfeldPrincipalMarketing Solutions

THANKSGIVING IN LAS VEGAS: BETTER THAN EXPECTED!

November 17, 2008

Analysis of:Housing Foreclosure Filings Drop | www.lvrj.com

October's housing statistics may give the Las Vegas real estate community some much needed hope as we head toward the Thanksgiving holiday.  They suggest that Las Vegas may be among the first markets to escape the real estate slump affecting the entire nation.

Jim BelfiorePresidentBelfiore Real Estate Consulting

Biggest Priorities: Slow Foreclosures, Stabilize Prices

October 31, 2008

Analysis of:Tested in the West | www.azcentral.com

The direction of the economy will largely be dictated by how many foreclosures occur during the next six months and how much further prices fall.

Steve BottfeldPrincipalMarketing Solutions

TRICK OR TREAT: The Las Vegas Market Improves, and May be Near the Bottom!

October 21, 2008

Analysis of:Local Builder Closes Sales Offices, Citing Credit Mess | www.lvrj.com

undefinedundefined <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:1; mso-generic-font-family:roman; mso-font-format:other; mso-font-pitch:variable; mso-font-signature:0 0 0 0 0 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style- September’s housing statistics for Las Vegas are like a Halloween costume.  We can’t quite tell what’s behind the mask.  What complicates our vision is that this data was developed just as economic news regarding the bailout and the further misadventures of AIG, Lehman Brothers and others hit the public consciousness.      Certainly, as the US is battered by an economic system undergoing a frightening metamorphosis, people look for signs that something good may be happening. September housing statistics for Las Vegas provides some good news.  But, there are some tricks among the treats:

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS CONTINUES TO MOVE FORWARD (AT LEAST UNTIL DATA CATCHES UP)

September 23, 2008

Analysis of:Speculators Coming Back | www.lvrj.com

  As the US is battered by an economic system undergoing a frightening metamorphosis, people look for signs that something good may be happening.   Unfortunately, they won't find it in the Las Vegas August housing data.  Of great concern to economic and market analysts is that Las Vegas housing prices continue to slide.  The caveat is that August data was developed prior to recent economic news regarding such major financial entities as Fannie Mae, Freddie Mac, Merrill Lynch Lehman Brothers, and AIG.   And, September’s housing data will suffer the same shortcoming.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: REAL ESTATE RECOVERY UNDERWAY?

August 19, 2008

Analysis of:EMPLOYMENT: Open season for jobs | www.lvrj.com

For the first time in two years, the Las Vegas resale market has less than 8 months of inventory.  If a normal market is defined by six months of inventory, then the resale market in Las Vegas is on the edge of being considered normal. undefined is n----->There is not one person reading this article who believes that last         sentence. The truth is: Nothing in Las Vegas real estate is “normal.”  And, July data accentuates that point.  There’s enough negative news to keep all of the pessimists beating on their alarm drums.    undefinedü  J -----> But, July data also suggests that the Las Vegas market         continues to improve more rapidly than other areas of the         country. Let’s look at the various market segments:

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