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market: Where have I been? - 12/29/07 11:23 AM
I have been so busy with the REO side of business I haven't had any time to write. Lately I have been getting 30-50 Broker Price Opinion requests a week. Add to that the 20 something clients I am still working with and sitting still long enough to write on the blog is a dream.
Just wanted to share somehting that I haven't seen in a while. Multiple offers on houses. I have a few clients in the sub $200K range who have been looking and we have been writing offers on REO listings. We are looking at properties that have just been … (0 comments)

market: Has Las Vegas Real Estate Hit Bottom? - 09/19/07 05:12 PM
I was just reading Richard Lee's latest article that says less than 30 units separate total sales figures for the last four months. This usually signifies the bottom of the market, however he also noted that until we see the upward swing, foreclosures are going to be the reality.
To go along with that, today's news of the fed lowering interest rates by 1/2 % is good news for all in Las Vegas wondering what is going to happen next.
As Richard says, September data is what we are truly waiting for to read the future. Of course, they won't be available until October.
On … (0 comments)

market: Properties listed 20-40% under market value. - 08/21/07 07:25 PM
I've discovered a search method to find properties in Las Vegas that are listed under market value (Comps) and even quite a few that are under a recent, 3 month or less, appraisal or under comparable sales in the last 3 months. I am using the 3 month guidline as I am seeing that more and more lenders are tightening up their appraisal guidlines to only allow comps from within the last 3 months.
Some examples:
Priced at 849,000 - Appraised at 1.1M. That is about 23% under. I even talked to the appraiser and he will still put it at an easy 1.1M today, … (0 comments)

market: Why it's Time to buy in Las Vegas. - 08/21/07 05:46 PM
The GLVAR (Greater Las Vegas Association of Realtors) came up with some great points on why now is a great time to buy in Las Vegas.
Mortgage interest rates remain at historically low levels, effectively lowering the cost of buying a home. It is not clear when interest rates will begin to rise. However, economists and other experts generally agree that rates are unlikely to fall significantly in the near future.
Southern Nevada's economy remains stronger than most metropolitan areas, with steady job and population growth. According to Las Vegas Perspective, Clark County added more than 96,000 new residents in 2006. This bodes … (1 comments)

market: Interesting comment on Southern Nevada Economy - 07/12/07 10:10 AM
Every month I get the UNLV CBER (University of Las Vegas Center for Economic Research) Indices report which contains information on trends, historical data and forecasting on Southern Nevadas economy as well as comaprisons with Las Vegas, Clark County, Nevada and national economic growth.
There was a comment in one of the reports that said:
The CBER Clark County Business-Activity Index has slowed from a strong pace to a more moderate rate of late. In April, the rate was up 0.42 percent from March and only 1.62 percent from the same month a year ago. We attribute continued growth to strong construction along the Strip and … (0 comments)

 
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John Calvert

Boulder City, NV

More about me…

Desert Sun Realty

Address: 1220 Arizona St, Boulder City, NV, 89005

Office Phone: (702) 293-0001

Cell Phone: (702) 324-7133

Email Me

Las Vegas Real Estate reports, appreciation and events that affect the housing market.


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