Archive for February, 2011


The results of the census are in. Nevada overall has seen a 32.3% increase in population over the last 10 years. City of North Las Vegas has seen a record and grew by 89%, Henderson 37.2%, and Las Vegas grew by in the low 30s as well. That is the highest growth rate in the nation. To add to it Ceasars is now seeking financing to complete the construction expansion that had previously been halted and that of course means jobs. Additionally, North Las Vegas is trying to get more business’s to move to our state. This is all good news in the midst of the negativity our valley has been experiencing. News well received. Change is on the horizon.

The subprime mortgage crisis is hitting the Las Vegas metro area particularly hard. We have been ranking in the top of the country for foreclosures. This crisis is causing homeowners to lose their homes due to rising payments and a trickle down of lost jobs. We are in the high 14% for unemployment. Predatory lenders are being accused of taking advantage of uniformed buyers. Speculative investors who were buying homes to flip at the peak of the market with no intention of ever occupying are packing it in and giving up on their idea. Short sales now consist of about 47% of the available market, while foreclosed homes are around 28%.

But there is light at the end of the tunnel..For those people who still have a job and are looking for a home. Values in some areas have come down to levels not seen in 20 to 30 years. Deals can be found in almost every neighborhood. All you have to do is look and look you should. Interest rates can not stay this low for long. Turn lemons into lemonade. Go find your dream home. Sure you might have to do some repairs if you are looking at foreclosed properties, but no home is perfect. That’s right, I said it. No home is perfect. 

Investors abound in this market. 51% of all the deals closed in the last 30 days were bought with CASH!!!! Rich men are made in times of crisis.

 Don’t miss the boat!