GLG News by Land Banking Experts (US)

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: More Bad News

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.

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. 

John BurnsPresidentJOHN BURNS REAL ESTATE CONSULTING, LLC

Shadow Lot Supply

January 26, 2011

Analysis of:Myriad Licenses Rights to Pancreatic Cancer Gene Patents | councils.glgroup.com

Many of the public builders don’t need to buy lots in 2011, and we think it will be a relatively quiet year for land acquisition.

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.  

John BurnsPresidentJOHN BURNS REAL ESTATE CONSULTING, LLC

Shadow Inventory Stepping into the Light

September 17, 2010

Analysis of:Shadow Inventory Stepping into the Light | realestateconsulting.com

The Loan Modification programs were certainly successful in delaying the inevitable – foreclosure. There are now approximately 2.5 million foreclosures in process, and another 2.5 million mortgages that are 90+ days delinquent. These numbers will trend down, while REO (currently 562,000 bank-owned homes) and short sales will trend up.

John BurnsPresidentJOHN BURNS REAL ESTATE CONSULTING, LLC

62% Homeownership on the Horizon

August 31, 2010

Analysis of:62% Homeownership on the Horizon | realestateconsulting.com

Our recent experiences in D.C. confirm that homeownership is clearly a value that is promoted by most politicians. They are in for a rude awakening, however, and a legacy that they will not be proud of. 8 million homeowners are currently not paying their mortgage, and we believe 6 million of them will lose their home to the bank in the next 2 years. This will reduce the homeownership rate to 62%.

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