Las Vegas Real Estate - Summerlin Homes

Support Our Troops on Veteran's Day AND throughout the Year

Wed, 11 Nov 2009 01:32:54 -0600

From Jim and Maria Hart in beautiful Charleston, South Carolina.

This is the time of year that is really tough when you are in the Military and a couple of thousand miles away from friends and family. This Veteran's day... honor those that have served and keep the ones that are currently serving in your minds with some of these REALLY SIMPLE things you can do to help support the troops.

Via Jim & Maria Hart ~ Charleston, SC Real Estate (AgentOwned Realty):

Veteran's Day is a day to loudly and proudly honor all of those who have bravely served our great country.

This year, while we're remembering all of those who have served in the past, let's also do something to support our current active military.

Don't have any ideas of what you could do? Well, here are just a few to get you started:

Send a letter or care package. There are several websites that you can check out to get you the right information for this. You can check out www.anysoldier.com, www.letterstosoldiers.org, and www.amillionthanks.org.

Donate blood for troops in combat. There are blood banks and blood drives all over the country on an given day. Your blood may stay within your community, or it could be the life-saving nectar for someone protecting your freedom. You can check out www.militaryblood.dod.mil for more info.

Offer up your unused frequent flyer miles at www.homemiles.org. This could not only get a soldier home for a little much needed R & R, but it could save us (taxpayers) a little dough, too.

Volunteer to foster a military personnel's pet through www.netpets.org/militarypet/foster.php. So many of their beloved pet end up in shelters because they are leaving the country and can't take them along. How awesome would it be for them if someone could take care of their pet while they're away, and then when they return, their pet is waiting for them! I'm certain that's one of the best welcome-home gifts -- especially if their animals are their family!

Donate sports equipment, games and more to the troops through www.give2thetroops.org. They do have some down-time, and while it isn't much, I'm sure it would be really nice to get a taste of home by being able to get a flag-football or basketball game going.

And don't forget to say THANK YOU to all past and active military this Veteran's Day (and after)!

*****************************************

We proudly serve and sell real estate in and around all of Charleston, SC. If you are thinking about purchasing or selling your home in Charleston, Johns Island, James Island, Folly Beach, Kiawah Island, Seabrook Island, West Ashley, Mount Pleasant, Isle of Palms, Sullivans Island, North Charleston, Hanahan, Summerville, Goose Creek or other surrounding areas, and more importantly, want to work with a local area expert, contact us at your earliest convenience.

Jim and Maria Hart
Realtors®/ AgentOwned Realty
(843) 364-9845
hart@agentowned.com

Copyright © 2009 by Jim and Maria Hart (AgentOwned Realty).

History Of Veterans Day - November 11th

Mon, 09 Nov 2009 11:29:03 -0600

Via Gary Swanson (Broker, Realtor - Re/Max Ideal Brokers, Inc.):

History Of Veterans Day - November 11th

So have you wondered why Veterans day is always on November 11th with no accounting for what day of the week it falls on? Why not on Monday like most other holidays?

Here is a short History Of Veterans Day. Go back to 1918 when an armistice or cessation of fighting went into effect during World War I. The armistice began at 11:00 in the morning on November 11th, and I remember as a kid hearing the eleventh hour of the eleventh day of the eleventh month was "armistice day."

For years starting in 1938 Armistice day was the holiday until 1954 when it was changed to Veterans day and became a day to honor American Veterans of all wars. They also changed the date to Monday to allow for a longer holiday.

In 1977 President Jerry Ford signed into law that starting in 1978, by the will of the American people, that the date would revert back to the 11th of November.

This is, I believe, more fitting as a special day to honor our Veterans and should not fluctuate.

Remember all our Veterans at 11:00 on 11/11/2009.

Pick up the phone and let me welcome you home!

Loan Servicers can make more money on a foreclosure than approving a short sale!?

Sun, 08 Nov 2009 23:51:21 -0600

Servicers Can Make More Money Foreclosing then Short Selling a Property

A great post by Pacita Dimacali with a collection of very valuable links for consumers (and real estate agents not familiar with the ins and outs of a short sale) to read over that will help explain some issues going on with Short Sales. I've provided a little more explanation into the difference between a "servicer" and the actual investor that owns the loan as an opening paragraph.

From Pacita's Post Below....

Pay Close Attention to:

CONSUMERLAW.ORG REPORt ON "Why Servicers Foreclose when They Should Modify And Other Puzzles of Servicer Behavior"

And read over how Servicers can jack up fees "servicing" the loans.

On Page 18 of the report:

"Servicers’ dependence on fees may also partly
explain their reluctance to enter into short
sales. In a short sale, the borrower typically
bears the cost of arranging the sale, thus depriving
the servicer and its affiliates of the fees they
could charge for default management, including
selling the property. Short sales are an example
of a divergence in interests between the servicer
and the investor: the investor saves money
if the borrower, rather than the servicer, bears
the cost of arranging the sale, since the investor
must reimburse the servicer, but not the borrower,
for the costs of the sale, even if the sale
does not generate enough money to cover the
outstanding principal balance. The servicer,
however, may lose some money and is unlikely to
profit at all from the transaction. Only if the servicer’s
financing costs outweigh the foreclosure
fees charged and a short sale is significantly
faster than a foreclosure will a servicer profit by
agreeing to a short sale over a foreclosure. This
disjoint may explain in part investors’ willingness
to pay servicers greater incentives for short
sales than for modifications. As between a
short sale and a foreclosure, the servicer’s only incentive
to favor the short sale are payments by
the investor for performing a short sale. Only if
those payments are larger than what the servicer
expects to squeeze out in fees from the borrower
and default management fees from the REO sale
proceeds will the servicer’s scales tilt towards a
short sale."

The vast majority of people automatically think that because they are sending in (or not) their mortgage payments to Big Bank that received TARP Money, that the bank owns the note. NOT always the case... they may only be servicers for the investors that actually put up the money for the mortgage.

There is one particular bank that just so happens to service a very large amount of loans that fits under the:

"the servicer’s only incentive
to favor the short sale are payments by
the investor for performing a short sale. Only if
those payments are larger than what the servicer
expects to squeeze out in fees from the borrower
and default management fees from the REO sale
proceeds will the servicer’s scales tilt towards a
short sale."

So... don't be surprised if you attempt to do a short sale and this particular servicer asks for 5 to 10% of the difference between what you owe and what the final settlement will be. On top of that... they will more then likely clearly state in their approval documents that they retain their right to pursue the deficiency judgement. (In Nevada... that can be up to six years from the settlement date for a short sale.)

Yes... it happens and one particular servicer has quite a system in place for foreclosing on the home and putting it back up for sale in their system. Thus... allowing:

the servicer and its affiliates to charge fees for default management, including
selling the property

So... if you've come across a situation where it appears that a bone head decision was made in denying a short sale... there may be more to the story.

Original Post Below:

Via Pacita Dimacali - e-PRO, SRES, CDPE, MBA East Bay, North CA real estate (Gallagher & Lindsey):

Lenders make more money on foreclosures than from short sales or loan modifications. That's what Steve Harney conveyed in a seminar. He caused an earthquake in San Francisco

When loan modifications are turned down, the next thing we attempt is a short sale. And we know that lenders turn over the short sale accounts to loan servicing companies who make our lives hell getting short sales approved. As such, we should know that these loan servicing companies make MORE money by letting the properties foreclose than to approve the short sales OR the loan modification.

RUMBLE...GRUMBLE...CRIES OF DISMAY!

Did he just confirm what we were afraid of?

So I researched this topic and found a few articles worth reviewing. How did I miss these? Was I under a rock in a desert?

CONSUMERLAW.ORG REPORt ON "Why Servicers Foreclose when They Should Modify And Other Puzzles of Servicer Behavior"

DAILY PRESS headline. Oct, 30 2009. Do Mortgage Lenders Make More Money when a Loan Goes iInto Foreclosure?

HUFFINGTON POST. Oct. 21, 2009, Foreclosures Are More Profitable Than Loan Modifications, According To New Report

Washington Post. July 28, 2009. Foreclosures Are Often In Lenders' Best Interest. Numbers Work Against Government Efforts to Help Homeowners.

ThinkGlink. October 21, 2009. Loan Modification Help: Why Lenders Are Slow To Provide Loan Modifications

Dayton Daily News. Oct. 17, 2009. Drop in foreclosures called "very scary". Lender's actions show they think properties are not worth pursuing.

Mortgage101.com. October 23, 2009. Mortgage Companies Make More on Foreclosures Than They Do Modifying Existing Loans. (This blog refers to the news article on Huffington Post)

FLASHBACK: Huffington Post, June 8, 2009. Short Sales: Banks Blocking Way Out of Foreclosure Crisis

FLASHBACK: Huffington Post, May 15, 2009. Short Sales Stories. Lenders tend to stick with more familiar foreclosure process, losing money for everybody.

UPDATE: Huffington Post, November 2, 2009. Homeowners: "Hey Congress, Get Off Your A**"

KNOCKING OURSELVES OUT TRYING TO HELP

So are we engaging in self-flagellation helping our distressed clients with their short sales and loan modification?

Are lenders really more likely to foreclose?

Are the short sale servicing companies really trying to help?

Or are they stalling and withholding their help because they know their leaders would rather have the property burn into foreclosure?

Is there no resolution in signt?

There oughta be a law!

Goldman Sachs Looking to Buy some Fannie Credits after being exposed on secretly betting on a Real Estate Crash?

Mon, 02 Nov 2009 03:34:04 -0600

From Reuters reporting on a Wall St. Journal article

"Goldman Sachs is in talks to buy millions of dollars of tax credits from government-controlled mortgage giant Fannie Mae, but the deal is running into opposition from the U.S. Treasury, The Wall Street Journal reported Monday."

"Tax credits are incentives designed to bring more investment to low-income housing developments."

Ironically... Part 1 of a fascinating story is just now breaking about an extensive investigation into Goldman Sachs secretly betting against the housing market While it was Peddling Billions in Mortgage Securities.

"In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.

Only later did investors discover that what Goldman had promoted as triple-A rated investments were closer to junk."

Ummm... and then collected Billions in Taxpayer Dollars for a bailout while a major competitor was allowed to fail?

"For the past year, Goldman has been on the defensive over its Washington connections and the billions in federal bailout funds it received. Scant attention has been paid, however, to how it became the only major Wall Street player to extricate itself from the subprime securities market before the housing bubble burst."

The Bailout of AIG also enabled Goldman Sachs to collect $12.9 Billion in those hedged bets against the housing market.

So... Let's summarize this into a simple paragraph...

Pour a bunch of money into a market where the originators rubber stamp the loans through and give a home loan to anybody willing to sign some documents. The recipients turn around and buy up homes which drives up the prices for everybody. Bundle these up in securities and sell them off as Triple A rated "safe" investments to pension funds and insurance companies. Then... buy up some credit default swaps betting that these same securities you are pawning off as Triple-A rated "safe" investments will be defaulted on. Cut off the investment money for the exotic loans, Wait for the defaults and collect your insurance money.

Make Billions.

Certainly a Fascinating Investigation and Part 2 promises some more worthy reading material.

"Since the economic collapse that swept millions of Americans out of their jobs and homes, Goldman Sachs has moved aggressively to recover losses. The firm is pursuing shaky borrowers into federal bankruptcy and state courts across the country and seeking to seize their homes. McClatchy examines one family's multi-year attempt to get Goldman Sachs to admit that it had purchased their mortgages."

Part 3 - Unloading the Securities to foreign Banks in offshore Meetings

"The Cayman offering - one of perhaps dozens made through the British territory - occurred as Goldman began to ditch the subprime mortgage business before the U.S. housing market collapsed under an avalanche of homeowner defaults."

And then..

"The 2006 Cayman deal was part of a flurry of Goldman activity in the hidden, unregulated parts of the securities industry. Goldman's traders also made huge bets that those securities would lose value by buying insurancelike contracts, called credit-default swaps, with private parties. Beginning early in 2007, they bought swaps on a London-based exchange."

Part 4 - Associations with Junk Loan Originators

"Goldman has yet to explain why it risked its blue-chip reputation and financial health to buy and repackage at least $135 billion in loans mostly originated by companies that have since gone bust."

As we know... loan originators that were funded with Billions of Dollars of investment money were rubber stamping loans through... which resulted in high home prices for everybody as people were practically handed money to go out and buy homes with no money down.

"Traversing the country in private jets and zipping around Southern California in Mercedes-Benzes, Porsches and even a Lamborghini, New Century executives reveled as the firm's annual residential mortgage sales rocketed from $357 million in 1996 to nearly $60 billion a decade later."

Guess who is getting stuck with the bill?

Paul Francis, CRS
Prudential Americana Group
Las Vegas Real Estate - Summerlin Homes
702.592.3058

Are High Gas Prices on the Way to come Back and Haunt Us?

Thu, 22 Oct 2009 14:07:06 -0500

Weak Dollar sends Oil Skyrocketing

In case nobody has been catching the recent surge in the cost of the Barrel of Oil:

From the New York Times

"But they say the most important factor is the falling value of the dollar, which is encouraging traders, institutions and foreign countries to invest their cash in hard assets like oil and gold. Oil is priced in dollars on global markets, and a falling dollar almost always puts upward pressure on oil."

Hmmm... Cash for Clunkers, Mortgage Modifications, First Time Homebuyer Tax Credits, Federal Reserve buying Mortgage Backed Securities, Bailouts, free money for all, etc, etc, etc...

Where does the Money Come From?

Borrowed and / or Printed Money resulting in a weak dollar. Oil is traded in Dollars and since there are more dollars (less value) going around... be prepared for higher gas prices on the way.

Weak Dollar Equals Higher Gas Prices ...

It has nothing to do with supply and demand and "everything to do with the weakness of the dollar," AAA South spokesman Gregg Laskoski said.

Gas prices usually decline in the fourth quarter. After Oct. 1, refineries switch to a winter blend that requires fewer additives and is cheaper to produce. Those savings are usually passed on to motorists.

In fact, gas prices have risen in the fourth quarter only once in the past 30 years, Laskoski said.

Gas Prices Jump 18 Cents in Two Weeks...

Something to think about before supporting Subsidies funded with Borrowed/Printed Money without thinking of the consequences.

I think most Real Estate Agents can certainly remember the drag we saw last time we saw $4 a gallon gasoline. Cities such as Las Vegas that rely on tourism certainly don't need it... especially right now.

To every action there is always an equal and opposite reaction....

Paul Francis, CRS
Prudential Americana Group
Las Vegas Real Estate - Summerlin Homes
702.592.3058

Congressional Oversight Report for Loan Modifications Program shows Trends to Watch in Real Estate coming soon to a home near you.

Sat, 10 Oct 2009 08:12:57 -0500

Just Released Report for your Weekend Reading

Tarp Oversight Report Criticizes Administrations Loan Modifications Program

Interesting Report by the Congressional Panel that oversees the government’s financial bailout plan that was of course... released on a Friday.

Read the 168 Page Report Here

Full of great information that goes over the waves of foreclosures, future waves of foreclosures on the way.. redefaut rates for loan modifications already performed and suggestions to improve the program that will be forwarded to your Representatives.

Whether you agree with it or not... this is what your Representatives will be receiving and thinking about on any future bailout programs, lending to lenders, delaying the inevitable, dough for dumps.. or whatever.

Personally... I found it very comprehensive loaded with information and charts including the future Option Arm Resets coming soon and other various challenges such as the unemployment rates creating the next wave of foreclosures. Of course... how it is comprehended is another story and sadly, that will probably be based on what Party Card they have instead of common sense.

Regardless of how real estate professionals comprehend the report, the report does appear to suggest an even more aggressive approach to deal with the Housing Crisis including this analysis / suggestion of paying the Unemployed Homeowners Mortgages on page 107:

(Nice how they are so concerned about the Lender getting paid..)

Recently... there was an Op Ed piece in our Local Paper well worth the read about extending the pain indefinitely that basically covers the teachings of the Austrian Business Cycle. After every distorted boom, there must be a bust for the economy to return to normal.

Read the article... then consider everything in the report and you have to ask if we are just delaying the real healing and a return to a "normal" real estate market.... after a couple of trillion or so already spent.

The Definition of Insanity anybody?

Paul Francis, CRS
Prudential Americana Group
Las Vegas Real Estate
702.592.3058

Las Vegas Short Sales Information

Sun, 24 May 2009 08:01:11 -0500

Foreclosures Are Never Easy

I've had plenty of experience including personal experience of what happens when business slows, investments go sour, income declines and all of a sudden you need to re-structure your expenses. If you are like Millions of other Americans.. your mortgage may be worth far less then what the home is worth, your payments far more then renting and you may have no other expenses to cut to put your debt to income ratios at levels you can live with. Creating more debt is not the solution and only makes the problems worse. Unfortunately.. it's not as easy as just selling your home so you can get your life back on track to a more positive future.

You can either Walk Away and let the home go to foreclosure, try a loan modification or just do a short sale. If you can get a loan modification that truly puts you on a path to a better future, congratulations. If it is just putting the problem off to a later date.. it's your choice whether you want to make the sacrifice now in order to move on or put it off to a later date. A foreclosure is certainly going to delay the healing process... a short sale is going to make it shorter.

Learn about Las Vegas Short Sales

I have plenty of resources concerning the myths and misconceptions about doing a Las Vegas short sale at my Las Vegas Real Estate blog so you can become a more educated Las Vegas Real Estate seller. NOT ONLY do you need an experienced Las Vegas Short Sales Specialist but You Also Need a Las Vegas Real Estate Agent with the systems in place for ADVANCED marketing to get the highest offer possible which greatly improves your chances of getting a short sale approved in the first place. Remember... Lenders and their investors want the most money possible and if you use a Las Vegas short sale specialist with poor marketing systems in place... the chances are that you will get less money for your home.

Las Vegas Short Sale as an alternative to Foreclosure

A very smart alternative to a Foreclosure.

Las Vegas Short Sales

What is a short sale and some short sales numbers that I reported on from May of 2008.

Las Vegas Short Sale vs. a Las Vegas Foreclosure

Benefits to everybody for doing a short sale instead of just letting the home go to foreclosure.

Las Vegas Short Sale Buying Tips

Tips in buying Las Vegas short sales. Use an agent that understands them in the first place and your chances of getting the offer approved are GREATLY increased.

Las Vegas Short Sales Report

Why you need somebody with actual experience in Las Vegas Short Sales. The success numbers for the majority of Las Vegas Real Estate agents are very poor. We average over 75% for our Las Vegas Short Sales getting approved by the lender with our superior Las Vegas real estate marketing skills.

A not So Sad Las Vegas Foreclosure Story

Homeowners that have moved on in life. A new segment of stories where I have helped Las Vegas homeowners move on in life.

Myths about Las Vegas Short Sales

There are tons of myths about Las Vegas Short Sales all over the internet that are just not true. Use the contact information below for a personal consultation to see if a short sale is the right thing for you.

Getting a short sale approved by a lender is highly dependent on the sellers situation and you need a Short Sales Agent that can review your situation / finances to help determine if you will even qualify for a short sale to begin with.

Paul Francis, CRS
Las Vegas Short Sales
702.592.3058

Charging More for Crappy Service/Results - What A Concept!

Mon, 18 May 2009 04:07:28 -0500

I went to a restaurant last week with high prices and low quality food. I heard that they just raised their prices and I'm thinking about going back...

Ok... first of all.. I'm pretty happy with our representatives in Nevada... or maybe it's just the system in place courtesy of the Nevada Constitution which makes me much happier then the last state I lived in which was bloated with Government spending with poor representation.

A little hint of where that was... it had a Governor with Big hair that got impeached and indicted for trying to sell a Senate Seat of some guy who became President.

In that State, Even when Business was booming, the cash registers ringing and tax revenues rolling in during the best of times... that state / city still had budget shortfalls and needed to raise taxes. It was interesting to say the least... I did love the high property tax bills that showed what % of all the property taxes I was paying was going to several things I never used. And for what I did use... I considered the fees a little high considering they were being subsidized by our tax dollars. Big Government at it's best...

Forget about investing in real estate there... knowing what I know in comparing it to Nevada simply makes it a bad real estate investment due to too much risk involved. Tenants that don't want to pay can pretty much live for free for several months and there is not much you can do about it as you spend a bunch of money to get them out.

I also certainly have No Idea on how people that solely rely on Social Security can have a decent standard of living there.

I know... you might be thinking that the taxes in Nevada are low because the Casinos pay for so much but the reality is that Casinos in Nevada pay some of the lowest tax rate percentages to the state of any state that has legalized gambling. And there is certainly much to debate on what legalized gambling really costs everybody.

Regardless... this post is all about this post about Higher Taxes make for Happier People by Stewart Penn in the Great City of Los Angeles in the Great might as well file for BK now state of California. It really just started out as a comment to that post that got out of hand so I just made it a blog post so I can get the extra points on ActiveRain. ;)

Anyways... make sure you read his post and the comments on there first before going forward...

Interesting post and comments to say the least...

Remember... the following started out as a comment to Stewart's blog post.

Does Denmark, Finland or the Netherlands have special interest groups influencing the representatives of the people?

As far as the Netherlands... I wonder if it's because of all that wacky weed they are legally smoking? Is that why California Cows are happier then the cows in Wisconsin? I've always just thought it was the weather but I could be wrong...

Can I just Illegally enter Denmark, Finland or the Netherlands and get all those benefits? Hmmm...

Personally... I've always found people in Oklahoma to be some of the nicest people in the country and that state is certainly not liberal or socialist in nature. Oklahomans CERTAINLY have some high moral standards...

What state within the states has the happiest people since states can be so different? Nevada is Certainly far different then California yet we are side by side... California is far more liberal in nature then Nevada and I've got quite a few clients fleeing California to move to Nevada. Out of well over a hundred listings sold in Las Vegas... I can't think of anybody I've ever relocated to California but I've certainly relocated several Californians to Nevada on the condition they don't bring big tax and spend government ideas with them.

(I know... hard to explain this with somebody who voted for Harry Reid the last time he ran for Senate but that's for a different day somewhere in 2010.)

I don't think Californians are happy because of higher taxes... I think California is a fantastic state for other reasons then high taxes and a big might as well file for BK now state Government. Liberalism at your finest.... A fantastic study of how big Government can BK the eighth largest economy in the world last time I checked.

As far as public education.... the last time I checked.... our Public Educational System is pretty much run by our Government... spending more with less results... Oh yes... the Government is certainly the answer in healthcare for all. (Roll Eyes Here.)

Are Private Schools Better? I don't know... several of my best friends that I grew up with went to Private School while I went to Public school. We ended up as roommates while attending the same highly respected college. My daughter goes to public school.. I'm thrilled with her great teachers and fantastic Principal and she is just doing fantastic and loves school. You can't ask for much more then that... Maybe it has something to do with teaching her what my parents taught me... Discipline and Respect... Wow... the same concepts my best friends I grew up with were taught. The Same teachings I learned while living in Europe for six years. What a concept.

Go to a school in Europe and see the difference of what they allow compared to what our public schools allow and you'll immediately see what is wrong.

Yet... we still seem to have the greatest entrepreneurs that actually create new technologies right here in the United States. And since when does the happiest countries in the Universe have better Universities then the United States? Free education up to Grad School in Sweden? Cool... but do they have anything that compares to MIT? I don't think so...

The hottest new technology under development such as cars by Tesla Motors is certainly more fascinating then Volvo... Apple is far superior to Nokia.

You give $14 Billion to a company like Tesla Motors and who cares about the Big Three with what Tesla Motors will be able to mass produce with $14 Billion (that appears to have been flushed down the toilet) of Taxpayers money? Hmmm....

From the Original Article of Stewart's post:

"It all comes down to what you get in return"

Well... DUH... I'm always happy when I get a great meal at a great price. If I get a bad meal at a bad price... should I even go back to the restaurant? I don't think so...

So let's face it... It's quite a stupid Article about Happy People being Happy because of Higher Taxes

THERE IS NOT Much that the U.S. Government has done (except for the Military) that is not done better by the private sector. If there is... please name it. We have a speaker of the House currently lying (in my opinion) of what she did not know going on with enhanced interogation techniques... Wow... the person leading our segment of the Government in charge of making Laws we are supposed to respect and live by is looking really shady to me. If I was sitting on a Jury I would have no choice but to vote Guilty.

Yes... Tax us more to Make us Happy, Happy people.

I think I'm going to start a Real Estate Brokerage with Really High Fees to the Agents and Really High Commission cuts so I can have a Bunch of Really Happy, Happy Real Estate Agents!

But... would if Uncle Sam Realty starts up?

Uncle Sam Realty is not going to do a better job at selling real estate then me. Their agents will have all kinds of benefits and probably a salary or hourly wage just to show up... they won't work 12 hours a day, 7 days a week and shell out their own money to get results.

However... they can certainly make it difficult for me to compete with them... And geez... they seem to have an unlimited supply of cash to back them up even when they don't make a profit. They'll probably raise my taxes to run a real estate business!

I'm certainly not blaming the U.S. Government for what is going on... and I'm certainly suggesting they are not the solution to the problems that they somewhat created.

Because the original intention of the creation of the Federal Government by our great founders was to serve the people and protect our country. Something along the lines of having a strong Military and protecting our Borders... allowing States to Be States where State and Local Government has the authority to influence our day to day lives. Don't like a state with high taxes... move to one with low taxes. Don't like the services of a state with low taxes.. move to a state with more services and higher taxes.

CHOICE IS GOOD

Are we all just whining and saying everybody else has it better because times have gotten a little tough? Have we gotten that pathetic?

We need the Government to come help us because of their fantastic track record of spending more then they are bringing in? Give me a Break....

I lived in Europe for Six years and I simply loved it... but it had nothing to do with higher taxes.

It had more to do with the culture. For the most part, People in Europe don't judge others by what they have but who they are. A strong sense of community. High morals...

Something the U.S. is certainly lacking as we leveraged ourselves to death buying up everything on credit to be happy... happy because we were impressing others. Our self worth has been cleverly marketed by companies such as the Big 3 that we need SUV's we would not dare take off of a paved road. It would take me a day to spot 7 Escalades in Germany... I can count seven of them in Las Vegas in about five minutes.

We need that big McMansion with flat screens in every room... we need that big Hummer... we need, we need, we need and now we need to pay for it.

Wow... so much for sacrifice. Somewhere in one of my History Classes I learned that the U.S. was created on the foundations of sacrifice by people who escaped a country with high taxation for crappy representation.

We've certainly come a long way in the past 10 years in returning to what people gave their lives for in escaping.

I certainly can't wait to go back to that Restaurant with the Crappy food for a high price since I found out they raised their prices because they needed more money...

Paul Francis, CRS
Las Vegas Home Values
702.592.3058

Las Vegas Short Sales Secret - Use a Buyers Agent that Understands the Process

Sun, 17 May 2009 04:18:51 -0500

Las Vegas Short Sales - Tales of Agony and Ecstasy

AGONY

I certainly love any and all offers on my properties for sale but the amount of offers incomplete and far below current market value with what is currently taking place in the Las Vegas real estate market is obviously an attempt of trying to get rich quick using agents trying to make the impossible happen. Maybe it will work with one in 30 tries... maybe.

Las Vegas Short Sale Secrets

The good news is that it appears Short Sales are FINALLY being addressed in one of the many homeowner programs which is FANTASTIC news to help avoid foreclosures in the first place.

Maybe some other short sales agents in real estate markets seeing the light at the end of the tunnel can share their same experiences that I share about the Short Sales Secrets in Las Vegas so I know I'm not the only one experiencing the number of people late to the party.

Let's face it... the current wave of buyers trying the way below market value tactics waited to hear about somebody else doing it first and then decided to jump in.

Will Las Vegas Home Values drop another 30% in value from today? From the areas I focus on, I don't think so.

Ecstasy

Several months ago when the market was far slower, we put in an offer and took a shot on a Las Vegas short sale listed below market value. Not only was the property listed below market value, we went even lower with our offering price. I was just recently notified by the listing agent of that property that it was approved. It took quite some time but it's a great deal.... especially with the way things have heated up for Las Vegas Real Estate.

There is NO WAY it would probably work today in our current Las Vegas real estate market conditions since things are a little nuts to say the least. (Make sure you read my Las Vegas Short Sale Report to get a full understanding of what I'm mentioning.)

A couple of other Las Vegas short listing I took were also recently approved as it appears Banks are now willing to help keep Las Vegas homes from going to foreclosure which will CERTAINLY be good news for everybody.

It's always been my opinion that addressing short sales and helping speed up the process can only help real estate values in distressed markets and my BIGGEST suggestion is for real estate agents to at least learn the basics of short sales.

My advice to buyers looking to purchase a short sale is to use agents that understand the process to GREATLY IMPROVE your chances of getting a Great Las Vegas Home that on average is in better shape then a Las Vegas Bank Owned Home.

HAPPY Short Selling and Buying towards a TRUE RECOVERY...

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Henderson Nevada Home in Green Valley Coronado Community near Seven Hills -- Looks like a Model

Thu, 07 May 2009 04:01:55 -0500

Paul Francis, CRS | Prudential Americana Group - REALTORS | 702.592.3058

Green Valley Coronado Neighborhood, Henderson, NV 89052

Highly upgraded Henderson Home located near Seven Hills.

3BR/2.5BA Single Family House

offered at $200,000

Year Built	2006
Sq Footage	1,615
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	3,049 sqft
HOA/Maint	$74 per month

DESCRIPTION

Open and Spacious Floorplan! Highly Upgraded Home located in a Cul-De-Sac features an Open floorplan with 3 bedrooms plus a den/office, a fantastic kithen with island, granite counters, maple cabinets and tile flooring. Two tone paint throughout, fantastic low maintenance landscaping.

Great Location near Seven Hills. Call Paul at 702.592.3058 today.

Please visit http://www.LasVegasRealEstateHome.com for more information.

Paul Francis, CRS
Prudential Americana Group
Henderson NV Real Estate
871 Coronado Center Dr, Suite 100
Henderson, NV 89052
702.592.3058

see additional photos below

PROPERTY FEATURES

Central A/C	High/Vaulted ceiling	Walk-in closet
Tile floor	Family room	Office/Den
Dishwasher	Stove/Oven	Microwave
Granite countertop

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5

Contact info:

Paul Francis, CRS

Prudential Americana Group

Las Vegas Real Estate

Las Vegas Bank Owned Real Estate for Sale

702.592.3058

For sale by agent/broker

Equal Opportunity Housing

Posted: May 6, 2009, 10:56pm PDT

My Las Vegas Real Estate ActiveRain Blog Post

Sun, 26 Apr 2009 06:49:19 -0500

So.. I write up a pretty long and thoughtful blog post on Active Rain about current Las Vegas Real Estate market conditions...

Something happens while I go and look for some pictures to add to the post... my browser that has the AR post shuts down and now that post is Completely GONE!

Over an hour of work gone!!!! My Las Vegas Real Estate Wordpress blog automatically saves the post as a draft even if your computer crashes or you throw it across the room, out the window, run over it with a car, etc...

SO FRUSTRATING!!!

So... Here is a summary with some links that were part of the article...

Please help me write the rest of the blog post in the comments because I don't have the energy to re-write it all....

I'll take the best comments and insert them into this post with a link to your profile or website with your creative thoughts for helping out.

The number of Las Vegas foreclosures available for sale on the Las Vegas MLS has dropped dramatically from my last Las Vegas Foreclosure activity post and continues the decline for the second month in a row since I started tracking Las Vegas Foreclosures. Currently at 4,724.

Las Vegas Homes Currently in Contract - Huge buying Activity currently taking place.

Las Vegas Number 1 in Foreclosures - Foreclosure moratoriums delay foreclosure activity and creates a tsunami heading this way.. so be careful.

The decline of foreclosures and the increased buying activity could be a sign of the end of the free-fall in Las Vegas Home Values but due to the Help for Homeowners Program... market trackers looking at the big picture need to be very careful before making any predictions since the real estate market was tampered with.

Major cash is coming in and we were just outbidded on a Luxury Las Vegas Home by $100,000 over market value in my opinion.

C'est la vie because I did some research for my client and found out about a couple of future Bank Owned homes coming soon in the same neighborhood and in better locations within the community. I've already sent communication to the banks directly and my client has agreed to pay my commission so he can get the best deal possible. Sorry... tired of playing games with Kool-Aid drinkers who don't have a clue about the foreclosure moratoriums and want to bid up the prices like there are no other bank owned homes in Las Vegas on the way...

Perhaps the AR Gods can retrieve my post from some archives somewhere in the system and I can add some pictures to the post and finish it up..

Until then... just trying to make lemonade out of Lemons with the help of some creative AR members. ;)

Thanks!

(I'd add some pictures but then I might have to create a summary of this summary of my original blog post.)

Las Vegas Foreclosures for Sale Available on the MLS declines

Sun, 01 Mar 2009 23:40:23 -0600

It's been quite some time but it has happened... the inventory for Las Vegas Bank Owned Homes available for sale on the Las Vegas MLS has actually significantly declined.

Since May of 2007 I've been randomly checking the Las Vegas MLS for areas 101 through 606 and reporting the number of Las Vegas foreclosures available for sale and listing the numbers on my Las Vegas Foreclosure page.

From January 20th to March 1st, the number of Las Vegas Foreclosures available for sale on the Las Vegas MLS decreased from 7,750 to 6,765. Quite a reduction of Bank owned homes available for sale. Keep in mind I do not spend a lot of time tracking down the total numbers and there really is nothing scientific about this. Just something I do to supply some information as the real estate correction takes it's course.

It is quite interesting to watch the number of foreclosures from May of 2007 and the price declines for Las Vegas home values and to see the correlation that took place.

HOWEVER - Keep in mind what may be taking place that I reported on my Las Vegas Real Estate News blog concerning Las Vegas Foreclosures numbers followed by a post concerning what the Las Vegas Review Journal reported about Las Vegas Foreclosures.

Unfortunately... Nobody really knows how much of an effect the Government tampering of the free market has with the foreclosure moratoriums that in effect. Personally, I can't stand games that manipulate numbers and interfere with all of the natural forces that are in place for a normal real estate market. But... we've been living with it for over 6 years so what's a couple more... as long as we understand what's taking place?

BUT Thinking About what I saw this Past Week

This past week I probably showed about 20+ Las Vegas homes for sale to clients and was remarking how some of them I remember as being the same price back in 2001 and 2002... or even cheaper then when they were built brand new during this same time frame.

While we still have plenty of Las Vegas Foreclosures for Sale.. I have noticed quite a decrease in Quality Las Vegas bank owned homes under the $250,000 price range with the fantastic deals in the lower $400,000 range... including some that used to sell around the $900,000 range during the peak. (Keep in mind that we were in Southern Highlands and scouring Summerlin real estate.)

While we Can Track Las Vegas Real Estate Numbers...

Unless a Las Vegas Real Estate agent was actively licensed before all of the sub prime nonsense.. It's probably pretty hard to comprehend that Las Vegas real estate prices could come down so much. I figure it will be within a week or so that the Las Vegas Review Journal will report the decrease of foreclosures available for sale... and about another week after that of e-mails circulating all around with the "Good News" to send your clients...

Just be warned that the numbers could be down because of the foreclosure moratoriums in place...

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

UPDATED 3/13/2009

Record Defaults for Las Vegas Real Estate

Las Vegas Custom Home For Sale

Fri, 27 Feb 2009 20:54:10 -0600

Las Vegas Custom Home For Sale

Architectually Inspiring! Spectacular Las Vegas custom home for sale ideally situated on a half acre cul-de-sac lot. Located in a Gated Las Vegas community near Green Valley, this home features floor to ceiling windows overlooking the sparkling pool. Meticulously maintained from the four car cooled garage to the private backyard and available for sale for only $549,900.

To learn more about this spectacular Las Vegas Home and view more pictures, please call Paul Francis at 702.592.3058 or click on the following link.

SOLD!

Las Vegas Custom Home for Sale

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

SOLD!!!

Is Commercial Real Estate The Next big Crisis?

Tue, 17 Feb 2009 08:19:39 -0600

For some of us that would rather be proactive then Reactive on what is taking/about to take place in the real estate market, I always appreciate a well thought out post by somebody such as Matt Heaton who tells it like it is on the new stimulus bill.

Politicians are reactive and certainly not proactive. They have little clue of spotting trends of what is taking place and that's where we need good information and good forecasters.... we need good real estate agents and not just reporters of statistics on what already happened.

Anyways... It was about a month ago when I was driving by a Bar/Restaurant and I had to slam on the brakes, cut somebody off and make an illegal U-Turn. This was not any ordinary Bar/Restaurant... it was a Bar/Restaurant that I ALMOST got to buy and manage for a client way back in 2003 offered for 1.6 Million dollars.

Back in 2003 we looking at this particular Bar with a limited gaming license (15 gaming machines and the really hot ticket to owning a bar in Las Vegas) and were provided the financials to justify the price. For some reason... the restaurant revenues certainly made absolutely no sense to me and in fact.. I suspected they were certainly cooked.

Unfortunately... before I could get more information that I was asking for when doing our own due dilligence... the place was sold. Oh well...$60,000 a month selling Pizza and a handful of people coming in everyday to the restaurant side just did not make sense in my book... LOL!

OK... Flash forward to around one month ago when I slammed on the Brakes and Made a U-Turn at the last moment...

What caught my eye was the Big "For Sale" sign in front of the Bar. I thought I would stop in and take a peek to see if it had been updated since the last time I had seen it. When I pulled up.. I noticed it was all boarded up. For me... certainly surprising due to the location and I had to think that whoever bought it was a complete moron for letting it go under. Keep in mind it's a hot location in Las Vegas near Summerlin with fantastic demographics and traffic reports that would make Nascar jealous.

I called the agent on the sign and inquired on the price and the agent gleefully informed me it was bank owned and available at the great price of $2.85 Million.

I had to ask that agent how a bar that was now closed could be worth more in these current economic times compared to 2003 when economic times were far more positive. He had no explanation because and thought it was a great deal because the previous owner had tried to sell it for $3.3 Million. Perhaps I should send him some notes on the amount of bank repos taking place and the number of Las Vegas residents that have cut back on the expenses and started saving money.

We've been so busy with Las Vegas short sales that I never really put too much thought on what has been going on with the commercial real estate market lately except knowing that it's seen better days. Obviously with all of the vacant buildings you see available for leasee all over Las Vegas. Maybe you see this in your market with vacant commercial real estate popping up all over the place like we see. When we come across a place like this with the surrounding demographics of over $70,000 within a one mile radius and the place is all shuttered up... it really makes you think.

Last week, Chili's suddenly closed down three restaurants in Las Vegas. My background knows that Chili's is a tight run ship (with yummy sizzling Fajitas) and I estimate at least 50 employees each times three for 150 employees total just got layed off.

The sad part is... I don't see anybody taking up their space anytime soon. Look around... payments for these places are coming due and unfortunately I see a new crisis popping it's head up and it's not pretty. Forget about the number of projects that have been halted due to the times... think about what has happened now that the giant pool of money has left the economy.

An $8000 tax credit to help the residential real estate market? Too little... way too late anyways and unfortunately our elected officials don't even seem to see what's coming... and like the residential real estate market... by the time they do, it will be too late.

Gloom and Doom? No intention.. Just trying to point out the obvious.

House of Cards - hidden message here is how much money was spent on everything from everybody making money on real estate... which has now dried up.

The Tax Revolt - We can only hope that half of what this guy says does not come true. NASTY....

The Real Estate Crash and the Effect on Your City -- Bury your head in the sand or be Proactive and really become a resource for your clients.

Happy Presidents Day -- Hugo Chavez gets his wish on our President's Day

President signs the new spendulus bill of massive debt and the DOW tanks... Oil is down and Gold is going up again. If you don't know why... start figuring it out.

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Has the Tax Revolution Already Started??

Sun, 15 Feb 2009 03:23:45 -0600

Through some research I ended up over at the highly entertaining Housing Bubble Hall of Shame and came across the first signs of tax revolt in the state highly known for wasting taxpayers dollars.

(Disclosure -- this is a Great Real Estate Bubble Site full of information on what went wrong without killing REALTORS too much.. I've been following it for quite some time and you can learn a lot from the great information/research provided.)

Revolt Brews In California Counties

The bottom line is people are getting tired of Government mismanagement and/or waste. When you read into the super fat and porky stimulus bill just jammed down everybody's throats, you'll see plenty of federal taxpayers money getting set to bail out bad government behavior.

While you might think it's just some isolated incidents... it's real and one long time well respected forecaster is predicting much, much more.... even before the newest and greatest biggest porkulus bill ever passed through our Congress to bail out a wasteful state such as California.

Worse then the Great Depression? Scary thoughts but when you take into consideration all of the things Gerald Cerente talks about and what is already taking place... it's real... it's very real unless people wake up and mandate a new direction.

Research is pointing towards some nasty things including my previous posts. We cannot ignore the current direction taking place...

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

How will the Real Estate Crash Shape Your City?

Sun, 15 Feb 2009 02:21:25 -0600

Fascinating new article that came out in The Atlantic full of historical trends to support theories:

How The Crash Will Reshape America

I saw a city or two that I used to live in but the one that stood out is Las Vegas for obvious reasons:

"But in the heady days of the housing bubble, some Sun Belt cities-Phoenix and Las Vegas are the best examples-developed economies centered largely on real estate and construction. With sunny weather and plenty of flat, empty land, they got caught in a classic boom cycle. Although these places drew tourists, retirees, and some industry-firms seeking bigger footprints at lower costs-much of the cities' development came from, well, development itself. At a minimum, these places will take a long, long time to regain the ground they've recently lost in local wealth and housing values. It's not unthinkable that some of them could be in for an extended period of further decline."

I came across this article while doing research on the current commercial real estate health for Las Vegas real estate for my Las Vegas Real Estate blog. The information contained has been quite fascinating to say the least and while we have been concentrating on the amount of residential Las Vegas foreclosures taking shape, it's important to understand and prepare for the upcoming commercial real estate collapse and what effect this will have.

People who invest in Commercial Real Estate generally have more money then your wannabe Las Vegas real estate investors who purchase single family homes as "investments" that have now come back to haunt everybody with their lax lending loans. While it's sad when somebody loses their home to foreclosure, it's extremely sad when somebody shuts down a business and lays off people they employ.

We currently have over 8,000 construction jobs in place for City Center Las Vegas alone and when this project finishes up in late 2009, you really have to wonder where they are all going to go since new construction is pretty much coming to a halt. There is no demand for new construction in Las Vegas so it's going to be really interesting as the next wave of failures comes on line. As far as I know, there is nothing in the new stimulus bill for Southern Nevada that will replace these 8,000 high paying jobs... payed for in the private sector and not the taxpayer. (In other words... the 8,000 jobs do not cost you anything unlike the jobs being created in the stimulus bill.)

I came across another study done by the FDIC on Commercial real estate constrution done all the way back in 1997 that highlighted the risks of all the overbuilding in Las Vegas... I'll be sharing this information on my Las Vegas Real Estate blog concerning the next crisis taking shape. Quite fascinating with all of the warning signs of overbuilding in Las Vegas and what this would to the commercial sector all the way back in 1997. In other words... it's been an avalanche ready to come down to bury a city built on the real estate boom... and the false economy it created.

Unfortunately it's very negative information but information that should not be ignored if you really want to represent clients in their best interest.

Stay Tuned...

How will the Real Estate Crisis change your city?

Paul Francis, CRS
Las Vegas Real Estate
702.592.305

House of Cards is a Must Watch

Sun, 15 Feb 2009 01:11:23 -0600

Confused about what is going on with the real estate market? Wondering why real estate prices have crashed and now why the Federal Governement is asking you and your family to take on debt that will take generations to pay back?

Why is the Government bailing out Wall Street with your tax dollars?

Watch House of Cards on CNBC for an explanation of one of the best documentaries to explain what happened and the people involved.

Times:

* Saturday, February 14, 2009 at 7p/10p ET
* Sunday, February 15, 2009 at 9p ET
* Monday, February 16, 2009 at 6a/8p/12a ET
* Saturday, March 1, 2009 at 12a ET
* Sunday, March 15, 2009 at 9p ET

Something you need to keep in mind while you watch this program is the false economy that it created. As all of these people refinanced their homes to "have it all", keep in mind what this did for all of the businesses that were created with this false money. Think what this is going to do to the commercial real estate sector and the next crisis of 2009.

The latest stimulus bill is nothing more then false hope being created by more debt. Much like false home prices and false security ratings, the Trillion dollars must be paid back and the programs created will do little to solve the problem.

Much like the many people who took out loans they knew little about, the same loan that will be taken out by our Government is going to take us to a level where you don't have to worry about a home loan where the big bad bank takes your home away.. but a big bad loan where our freedom is taken away.

Hopefully if you watch the program, you understand what the solution is. It's not more debt to get us out of what was a false economy to begin with. And.. it's not tax cuts.. it's really the Government staying out of a problem they created in the first place and are now making it worse...

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

The Right Information is the Right Solution to The Real Estate Crisis...

Tue, 20 Jan 2009 02:46:25 -0600

Real Simple:

I suggest taking a few minutes and reading this really good report from The Heritage Foundation -->

Ten Common Myths About Government Spending

"Economic misinformation begins with politicians, who are usually more concerned with winning the next election than with seeking "economic truth."

MYTH #1:
Government spending "pumps new money into the economy."

FACT:
Every dollar that government injects into the economy must first be taxed or borrowed from it.

And Then...

Visit this site --> http://www.pgpf.org/ ... make sure you spend 30 minutes watching that video because it is VERY, VERY disturbing.

The whole foreclosure crisis was created from The Giant Pool Of Money.. Listen to that podcast for the best explanation out there on what created foreclosures in the first place.

Finally... make sure you read over this on FDR's policies before you think Govt. programs are the solution --> Franklin D. Roosevelts Policies Extended the Great Depression by 7 Years..

Bailouts are only pork barrel spending with money going to self interest groups... HOW MANY more BILLIONS are going to be spent to catch on to this??

Government Spending is not the solution... WE ARE with the proper information being passed on...

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Las Vegas Real Estate - Signs of Real Recovery

Fri, 16 Jan 2009 03:41:43 -0600

Las Vegas Real Estate - Signs of Recovery Starting to show..

After a couple of years of being beat to death with negative news... the light at the end of the tunnel appears to be showing up with some recent positive news stories about Las Vegas Real Estate.

First, there was BusinessWeeks top 10 places where employees would like to move to which ranked Las Vegas #4 which you can read about by clicking on the following link with some of my opinions ---> Las Vegas Ranks #4 in Annual Report by BusinessWeek.

The reason? Reasonable real estate prices and cheap entertainment in Las Vegas... something that all of us in Las Vegas thoroughly enjoyed in the 1990's before the promises of get rich in Las Vegas real estate schemes began. Please.. don't buy real estate in Las Vegas if your only intention is thinking that you are going to get rich. Buy it because of our low taxes, no state income tax and great entertainment. Buy Las Vegas real estate because you love Las Vegas and want to contribute to our community by being involved in the community. Speculators already caused enough damage and I for one don't welcome speculators for a cheap commission to ruin my quality of life. The get rich quick schemes are over and anybody promising you that might as well be running a Ponzi scheme.

Las Vegas Real Estate - The Model for Real Recovery?

Forbes just released an article highlighting Las Vegas real estate as a market with increased sales full of interesting information of what happens when you let a real estate market naturally correct. Las Vegas real estate prices have been slashed dramatically from the peak of the real estate bubble and it has NOTHING to do with bailout money. It's all about the price and buyers are buying again because Las Vegas real estate is extremely affordable again. I see people buying Las Vegas real estate to actually move in and be a part of the community they are buying in instead of speculating on false appreciation rates which is extremely refreshing.

Questions such as where am I going to make the most money have been replaced by where should I buy for what we love to do? False promises of get rich quick schemes are looked down upon and are being replaced with which community is going to give them the highest quality of life for what they are looking for. Buyers are looking for experienced Las Vegas Real Estate agents that know the city instead of looking for Las Vegas real estate agents promising a quick buck... very refreshing to say the least.

It certainly reminds me of the days of Las Vegas real estate before the nonsense of speculation... days of a normal real estate market to be certain. The days of recovery are well on their way for Las Vegas real estate and while it's hurt quite a bit to get here... we are on our way.

The Picture above is our Newest Las Vegas Home available for sale that is absolutely stunning and remarkably priced for only $574,900. You can contact me directly at 702.592.3058 for more information/pictures as we prepare it for our marketing.

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Las Vegas Four Plex for Sale with Onsite Management Available

Fri, 09 Jan 2009 00:22:41 -0600

Paul Francis, CRS | Prudential Americana Group | 702.592.3058

BryanDouglas, Las Vegas Four Plex, NV

Las Vegas Fourplex for Sale

2BR/1BA Multi-Family, 4 units

offered for $230,000

Year Built	1984
Sq Footage	Unspecified
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	2
Parking	4+ Uncovered spaces
Lot Size	Unspecified
HOA/Maint	$427 per month

DESCRIPTION

Las Vegas Four Plex for sale with unique onsite management!!

Please visit:

http://www.lasvegasrealestatehome.com/idx/cms/15/details.html

For more Information...

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Dishwasher	Refrigerator	Stove/Oven

COMMUNITY FEATURES

Guest parking

Swimming pool(s)

Playground

OTHER SPECIAL FEATURES

On site Management

ADDITIONAL PHOTOS

Seller contact info:

Paul Francis, CRS

Prudential Americana Group

Las Vegas MLS Search

702.592.3058

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 8, 2009, 9:57pm PST

Las Vegas Foreclosures for Sale on the Las Vegas MLS

Thu, 08 Jan 2009 13:50:42 -0600

Las Vegas Real Estate Foreclosures for Sale on the Las Vegas MLS for 1/08/09:

7,914 Foreclosures on the Las Vegas MLS currently available for sale in areas 101 through 606 which includes Las Vegas, North Las Vegas, Henderson and Summerlin Foreclosures.

6,301 Las Vegas Single Family REO Homes
1,097 Las Vegas Condominium REO Properties for Sale
502 Las Vegas REO Townhomes for Sale
14 Manufactured REO.

Search and view Las Vegas Foreclosures for sale on the Las Vegas MLS with maps.

Use the Contact information below for purchasing Foreclosures in Las Vegas, Summerlin and Henderson.

Paul Francis, CRS
Las Vegas Foreclosures
702.592.3058

BusinessWeek Forecasts Trickle Up Theory

Sat, 03 Jan 2009 02:51:36 -0600

Not In My Real Estate Market

That certainly was the consensus over a year ago when the bad news/fortunes of real estate speculators in markets such as Florida, Las Vegas Real Estate and Arizona made front page news. A recent tour of Las Vegas foreclosures with an out of state buyer brought up the statement of... "Wow.. I guess what I've been seeing in the news is true"..

Yes it is true. What started out as bad fortunes blamed on speculators whose speculations did not pan out and they walked away from their New Home "Investments" has touched every single neighborhood in Las Vegas in a negative way.

BusinessWeeks Recent Article 2009 Real Estate Forecast appears to be forecasting exactly what has happened in Las Vegas. It started out in the newer home neighborhoods where speculators would wait in lines for days to be part of that special VIP Grand Opening by the New Home Builders in Las Vegas and has worked it's way like a nasty cancer throughout all of Las Vegas.

BusinessWeek forecasts that for 2009... even the Healthy Real Estate Markets are going to get hit.

"Until now, the nation's most serious home price declines have been in low-cost markets that were dominated by subprime mortgages, and in overbuilt markets such as Florida, California, and Las Vegas, where residential values are sliding fast toward pre-housing boom levels."

I see and hear many of the same sentiments across the nation of what Las Vegas Real Estate saw in the beginning of 2007. Sales have slowed down, homes are sitting on the market for much longer and buyers are scarce. Much of it brings back memories of when Las Vegas real estate agents were full of frustration as sellers were not yet at the point of reducing their prices... and the few buyers that were out there were not going to even offer anything near the listing price.

The Las Vegas Real Estate Market did not go South overnight.. it was a process that started in 2006 but the catastrophic news that the media loves to cover that makes people read their publications did not start until 2007.

With All the Bad News about Real Estate, there may be some good News for Las Vegas Real Estate accoding to BusinessWeek:

On the other hand, the speculative Las Vegas, Arizona, California, and Florida markets, which have already seen annual home-price declines of up to 30%, could see slightly smaller declines simply because values have already fallen so much.

Is there Light at the End of the Tunnel for Las Vegas? You really have to think there is when you compare prices for what you can buy in Las Vegas with it's low Property Taxes compared to other states but time will tell. We've been coming across potential buyers looking to retire to Las Vegas who have chosen to sell their out of state home first before buying and we hear the same news that we heard in early 2007 when it came to selling.

"Buyers are few and far between and Homes in our Area are sitting on the Market."

Yep... we've seen that and we know all about the frustration.

Interestingly.. the BusinessWeek article does not go into discussion with it's main headline:

-- "Wealthier neighborhoods that avoided subprime borrowing will be hurt in the new year as the downturn weakens even healthy markets." -

So... We did a Quick Check of How many Million Dollar Luxury Homes in Las Vegas that were owned by the Bank were currently available for sale on the Las Vegas MLS. According to the Las Vegas MLS, there were 17 Foreclosure Homes in Las Vegas Priced at $1,000,000 or more... Here is a brief summary with information on the properties:

Anthem Country Club Home - $3,750,000 for this 7,963 Square foot Home in Henderson.

Lake Las Vegas Home - $2,399,000 for this 7,394 Square Foot Home in Lake Las Vegas Vegas.

Spanish Hills Home - $2,195,000 for this 7,256 Square Foot Home in Spanish Hills purchased for $1,900,000 on 9/01/02

Park Trails Home - $2,099,000 for this Northwest Las Vegas Luxury Home Foreclosure

Green Valley Ranch Home - $1,799,000 for this Green Valley Ranch Luxury Bank Owned Home purchased for $2,000,000 on 4/01/06.

Seven Hills Home - $1,719,000 for this Seven Hills Luxury Home. Last purchased for $2,550,000 on 4/1/07.

MacDonald Ranch Home - $1,567,900 for this MacDonald Ranch Foreclosure.

Southern Highlands Home - $1,449,900 for this Southern Highlands Estate home that was purchased for $1,915,000 on 02/01/07

Seven Hills Home - $1,386,000 for this Seven Hills Luxury Home purchased for $4,300,000 on 01/01/07.

Red Rock Country Club Home - $1,299,900 for this Red Rock Country Club Luxury Home purchased for $1,950,000 on 01/01/06.

Lake Las Vegas Home - $1,199,000 for this Lake Las Vegas Custom Home purchased for $1,165,000 back on 02/01/05.

Newell Estates - $1,100,500 for this 7,643 Square foot Southeast Las Vegas Luxury Home purchased for $2,357,000 on 10/01/06.

The Ridges in Summerlin - $1,100,000 for this 3,421 Square Foot home Bank Owned Home in Topaz Ridge purchased for $1,325,000 on 10/01/05.

Lake Las Vegas Home - $1,100,000 for this Lake Las Vegas Bank Owned Home purchased for $1,900,000 on 10/01/04.

Roma Hills Home - $1,100,000 for this Roma Hills Bank Owned Home purchased for $3,200,000 on 08/01/07.

Foothills at MacDonald Ranch Home - $1,074,900 for this MacDonald Ranch Bank Owned Home purchased for $1,766,410 on 01/01/06.

Red Rock Country Club Home - $1,015,990 for this Red Rock Country Club Bank Owned Home purchased for $1,500,000 on 03/01/06.

As you can see... the foreclosure crisis has now worked it's way into some of the most prized communities of Las Vegas. My forecast for Luxury Las Vegas real estate is that it's going to spread even further as these Luxury Las Vegas Homes eventually sell forcing downward pressure on the values of some of the most prized Las Vegas real estate. If the Banks don't sell them at the current prices... it's only a matter of time before they further reduce the prices so that they will sell. Much like what they did in November/December of 2007 that caused all of the Las Vegas home values decline that made the news for 2008.

Keep in mind... there are plenty of yesteryear's Las Vegas Million Dollar homes now listed for sale for less then $1,000,000. What you see above is some of the most Prime Las Vegas Real Estate there is...

There are currently over 7,800 Las Vegas Foreclosures for Sale on the Las Vegas MLS and you can view them all by clicking on this --> Las Vegas Foreclosures for sale. Which ones are the best deals? Well... that's something that only Las Vegas REALTORS with years of Las Vegas Real Estate experience will be able to share with you....

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Best Active Rain Blog Comment of 2009 for the Best Active Rain Blog Post for 2008

Fri, 02 Jan 2009 01:00:28 -0600

Best Active Rain Blog Comment of 2009 for the Best Active Rain Blog Post for 2008

HA! I'm thinking this is a first and that's always fun... In my Best Active Rain Blog Post for 2008 which was surprisingly featured... there were certainly some pretty interesting comments. I certainly did not mean for the original post to be in any sort of way critical towards ActiveRainers but merely to create some thought on future Best Blog Posts for Active Rain for 2009.

I know... sometimes we are in a little rush to get them points and really don't spend some time taking in the whole message. Kind of Like when I was in College and had to read The Death of Ivan Ilych by Tolstoy... The message really did not hit me until later on in life. Certainly a must read if you have not read it.. (Yeah.. right.. who has time to read this classic in the current society? Yes.. that's another message that I'm sure somebody will pick up on. :) )

I answered all of the comments and gave some rather long comments for those that maybe missed my intended message which had nothing to do with criticsm of content on Active Rain.. just some suggestions.

What's better to write about then all of the incredible challenges we are facing?

My point is that we are in a major generational crisis and what we do determines how we get through it. What you see now May just be the tip of the iceberg and my point is not to share gloom and doom... but share some insight on the gloom and doom and what needs to be done to get through it.

Will Billions of Dollars of Debt Really Help Out? I personally don't think so but that's because I think we are in a major situation because of debt.

Will Wishing for Rainbows to appear in the Dark Stormy Clouds and Dreaming a Little Dream Help Out? Hmm... it makes for some good entertainment to get the mind in a positive spirit.. which can certainly help out during gloomy economic times. The importance of Family and Friends are certainly worth highlighting when you are broke so there is some benefit to this.

Obviously... education of matters taking place to your future potential readers could lead to LIFELONG and loyal clients. What would you rather have? The lifelong client who will always ask your advice on real estate matters... or the wham, bam thank you Maam (or sir) client?

Yeah, I know... some recipe cards in the mail are just great for business and can really make you stand out from everybody else.. (Roll Eyes Here... and I can even throw in a nice Southern Sarcastic Accent if you need me to...LOL!)

Anyways.. to the Comments and some of MY REALLY Long Answers to Expand on My Message: (Comments to the Original Post in Italics with my responses that have in some cases been expanded even more..)

Overland Park Homes & Real Estate:: Michael Russell (Overland Park KS Realty Executives )

America will continue to be fleeced unless we find a way to take congress back from special interest groups and rid ouselves of pork barrel spending. The fiscal resposibility of our elected officials is disgraceful.

Right on... but how do we do that? Is it letters to our representatives or is it keeping an eye on your LOCAL representatives and sharing it with your blog readers on what they can do? I'm certainly building up some ammo for Harry Reid.. (and yes I voted for him in the 2004 election... but it's going to BE REALLY HARD for me to do it in 2010 unless some things are changed...Before he became the Senate Majority Leader, he really was Independent and a really nice guy... trust me.)

Susan Neal, Fair Oaks CA Real Estate Broker (Century 21 Noel David Realty)

Hi Paul, Happy new year! Very interesting post. I do think you are being just a little hard on ARers if you assume that we get all of our economic info from AR. There is a lot of helpful info on here, but I don't look to this site for an understanding of world economy. That is not really the focus of these blogs. I generally go to other, more specialized, sites and to other publications for that, and get a lot of real estate marketing info here (and friendships and networking, etc). That is a great photo, with a lovely little girl and a lovely butterfly too.

Susan.. not being hard on Active Rainers.. (did not mean to be hard anyways) and I certainly don't assume Active Rainers get all of their economic data from AR... (but it would certainly be possible if Active Rainers brought up the Economic news more now... would it not??)

The World Economy is in a Mess because of real estate so maybe a real estate focused blog should be the place to go for an understanding of what is taking place?

Thanks for the kind words about my daughter and the Butterfly. How come nobody complements me on how good I look when they see that picture... LOL!!!

Margaret Woda, Maryland Real Estate (Long & Foster REALTORS, Crofton Office)

Wow, you're being pretty tough on us... maybe some ActiveRainers know just as much as you do about what's going on (or even more, perhaps), but prefer to engage in political discussions elsewhere... not on ActiveRain.

Actually I know there are several Active Rainers that know much more then me... I certainly have no idea where the political comment comes in unless you really did not read the post. The National Debt has gone up $6 Trillion Dollars in the Past 6 years and we are going to be adding a lot more to it and that's a political agenda? For the record... in 2004 I voted for Bush and Senator Harry Reid (my state Senator and now the Senate Majority Leader)... The only thing political is all of us snoozing while all of our elected officials were having a hey day and not paying attention to all of our best interests. Don't you think we should change that and just maybe... over 100,000 Active Rain Bloggers could do a post a month to bring these issues up?

Since it's so relevant to Real Estate... why not post it on a Real Estate Blog? (126,635 Real Estate related bloggers times 1 Post a month = 1,519,620 Posts for 2009 which could have a REAL Impact on where we need to go from here.)

Sadly... more people will be able to tell you who won the last American Idol then who the Chairmain of The House Financial Services Committee is.. what he does and what his ties are to some very questionable things that took place to get us here...

Crazy at it is... he got re-elected.

I'm not suggesting that Active Rainers don't know anything.. I'm merely suggesting that Active Rainers share these things a little more for all of their readers and what it means for real estate.

Above All Financial Services -Pennsylvania Mortgage Broker

I'm reading the comments and shaking my head at some of them. I think you are raising an important topic here about what we need to do to change the industry and the economy and some people are either ignoring the point or getting mad. It is hard to get a good discussion going on this type of topic on AR.

Also agree that this was not a surprise to those who stayed informed. It always amazes me when I hear people in the business state things like there was no way anyone could have known the maket could collapse.

Michelle

MY POINT EXACTLY and you certainly got it. Thank you so much for checking out the Peter G. Peterson Foundation site and please share it because there is a real mess brewing that will make today's problems look like a walk in the park.... unless the message is spread and we start making our officials accountable with real questions. We have blogs.. I think my readership for all of my blogs was over 20,000 for 2008 and I'm sure there are some real estate bloggers who have had much, much more.

Thanks Michelle and you will have a Great New Year.. :)

Melina Tomson, M.S. Salem Oregon Real Estate Specialist (Tomson Burnham, llc)

I guess it depends on your expectations for AR. Matt Heaton and Lenn Harley have done a lot of blogs about what's going on, but most people are on AR to generate business. People can go to WSJ, NYT, or Bloomberg for economic information. They can't go there for local neighborhood info.

I am a business woman and I need to do things that generate business for me. Writing about the bailout (which I have done briefly on my other blog) will not bring me a buyer. All I have to do is analyze my keywords and it is crystal clear to me how people use my blogs. Local real estate and neighborhood information reigns.

I agree that many people don't really understand the magnitude of what is happening in our economy, but I'm not sure the general purpose of AR is to be an active discussion. All of us have to be efficient and effective in 2009 in order to make the money we want.

I read. I learn. I have discussions with MY CLIENTS about the economy. I can't afford to spend my precious time on AR talking about the economy. Discussions about the economy don't bring me business. Action does.

Yes... ACTION Does wonderful things but I pretty much disagree with everything else you wrote.

Very Interesting comment. I'm certainly not suggesting that everybody change what they are doing... Just maybe adding a little more to it on future issues that will effect your business whether you like it or not.

Yes... I certainly know Matt Heaton and Lenn Harley have done some fantastic posts about the bailout and have asked hard core questions (my tribute to Lenn... Ha Ha!) about what led to having to bailout everybody in the first place.

Ever stop to consider that if there were more posts like Matt's and Lenn's that maybe... just maybe there would not be a need for so much damage control?

"People can go to WSJ, NYT, or Bloomberg for economic information."

Just like they have for several years. I see nothing but beneficial opportunity for insight and analysis when these same stories are digressed on by a local real estate professional and what it could mean to their local real estate market in the future. These same media outlets had some stories about the irrational market behavior back in the bubble days but they were largely ignored, not shared or even distributed by real estate professionals IMO.

Other Blogs Certainly Picked up on it.. Just some examples that come to mind:

Bigger Pockets

Nice Quote from the Blog Post taken: -

"Thanks for everything Mr. Greenspan (and all others who could have done something about this, but were too busy getting fat off of the booming housing market at the time)!"

Buffet Calls for Real Estate Slowdown May 2006 - Certainly news worth sharing

Congratulations Wall Street December of 2006 - I think it's worth reminding people of how much money these same bailout recipients were making when the times were good. How About a $50 Million Dollar Bonus?

There are certainly many, many more to pick up on and share and that's precisely my point to the whole post.

When I clicked into AR yesterday.. I think it's safe to say there were less then 1% of any blog posts picking up on some issues currently taking place on real estate that are in the major media outlets:

Treasury Answers Bailout Quetions - CNNMoney 12/31

The Ballooning Bailout - Fortune Video 12/31 - Funny but not...

Oversight Panel to Treasury Bailout Efforts Lacking - CNNMoney 12/10

21 Dumbest Moments in Business 2008 - Fortune Magazine

Real Estate Crystal Ball 2009 Seattle - Seattle Real Estate News -- I only bring this one up because this is the first time I've seen somebody mention the following quote and it is a major issue:

"Jason Bloom, president of the Washington Association of Mortgage Professionals, said 30 percent of consumers who could get a mortgage in 2007 cannot now because of tightened lending guidelines."

That's probably going to have an impact on the recovery... don't you think?? Yet this is the first person I've even seen mention that.

8 Really, Really Scary Predictions for 2009 - Fortune Magazine -- I really liked this quote from Sheila Bair -- The FDIC Chairman (Chairwoman)

"We will dig out of this. And when we do, I hope for a back-to-basics society - where banks and other lending institutions promote real growth and long-term value for the economy, and where American families have rediscovered the peace of mind of financial security achieved through saving and investing wisely. We need to return to the culture of thrift that my mother and her generation learned the hard way through years of hardship and deprivation. Those are lessons learned that the current crisis is teaching us again."

That's what I harp on everyday. True Real Estate Investors know this and I'm suggesting Real Estate Bloggers should probable teach more of these basic concepts so we can get back on track.

Sheila Bair also points out the following:

"To be sure, borrowers, brokers, lenders, securitizers, as well as state and federal regulators, all bear responsibility for the widespread deterioration in lending standards. But the problem was compounded by the fact that those ultimately holding the risk - the investors - did not look behind their investments at the quality of the mortgages themselves. If they had, they would have seen high loan-to-value ratios, little income documentation, burdensome fees, and steep payment resets. They would have seen mortgages unaffordable from the beginning, originated based on the assumption that home prices would continue to rise and borrowers would refinance. Of course, we now know that as home prices began to depreciate, borrowers were unable to refinance, leading to massive foreclosures and further price declines. This self-reinforcing downward spiral is at the core of the economic problems we face today."

Maybe Real Estate Professionals Should Have Been A Little More Vocal Instead of Business as Usual and running $40 Million Dollar Ad Campaigns that it's always a good time to Buy AND Sell Real Estate??

(Just had to throw that thought in...)

Consumers Fall Deeper Into Debt: Reuters 12/23/08 -

"Dann Adams, president of U.S. Information Systems for Equifax Inc, said the already high rate of personal bankruptcies could increase. "We've seen a continued ramp up of delinquencies across the board," he said."

Tough to get Home loans when delinquencies are going up and credit for consumers is worsening... making it even tougher to stabilize falling home prices.

"Over a third, 36.6 percent, of subprime homeowners were 30 or more days behind on their home loans in November, according to Equifax data."

Consumer Credit Fact Check - Reuters -- There is actually some good news in all of that bad news if you know what to look for.

2009 Real Estate Forecast - BusinessWeek - Is the Housing Market Meltdown coming to your market? I'm sure your readers would like some insight from a Local Real Estate Pro. There is news in there I'm certainly going to be using on my Las Vegas Real Estate Blog...

I could go on and on and on..... and it's not about sharing bad news (which there is certainly plenty of it) but more about sharing news and giving insight on things taking shape... maybe some thought on what needs to be looked out for in the coming future that will certainly be determining if you have any business in the future.

In Kristal Kraft's Should We Let Gloom and Doom Control our Destiny post... there were plenty of comments on there that we will be just fine. Kind of reminds me of what some people were saying in 2004 and 2005 when the Fannie Mae and Freddie Mac issues came to light. Lenn Certainly knows what I'm talking about here..

As far as keywords and blogging for business... I'm certainly crystal clear about that and there is no suggestion anywhere in the post to stop doing that. My suggestion is merely to share what's taking place and how this will effect everybody -- including your ability to have future customers --

120,000 Active Rainers with minimal posts and insight to all of the latest Real Estate News that can be found just in the past week on the major media outlets... is my precise point to the blog post.

"Writing about the bailout (which I have done briefly on my other blog) will not bring me a buyer."

"Discussions about the economy don't bring me business."

--- I completely disagree... it will bring you a smart and long time client if you write about it intelligently. There are plenty of people out there looking for good opinions of the bailout, the economy and what it means on the local level. I've personally picked up several myself from one of my outside blogs...

And..... If I have a buyer referral to Lenn Harley's neck of the woods... she will certainly get the referral.

I don't know... maybe it's just me but posts about personal resolutions, business plans, lazy business practices...etc... are just boring reading for me. My whole point is over 120,000 members should at least have one post that can make tomorrows surprise... no surprise when it happens because there are plenty of more "surprises" coming.

Yes... ACTION brings on wonderful things but don't you think it's time for the right type of Action?

Thanks for the comment and Have a Great New Year...

Emily Lowe - Nashville, TN Realtor (The Lipman Group / Sotheby's International Realty)

Excellent post - I consider myself one of the 6% who is an optimist and who also sees the country going in the wrong direction with the bailouts. I believe that we can turn it around, especially in this industry. I was so shocked while getting the licensing to find out how easy it was to achieve. It's no wonder that people don't trust realtors. The exams, etc. are a complete joke. And this doesn't seem to be real estate specific. Americans don't want to study hard and work hard to become the best that they can be. It's all about "how little can we do and still get by". We as a nation need to step up to the plate and for once learn and apply ourselves so we truly figure out how to hit the ball correctly!!!

Thanks Emily... you certainly get it. However.... We as a Nation have stepped up in the past and have done great things in past challenges...

Sadly.. so far we have not for this generational crisis but hopefully that turns around... A 100,000 or so real estate related bloggers who are supposed to know something about real estate would certainly help.. :)

Sitting around, thinking the same people who got us here and relying on the NAR to continue their self interest programs certainly is not going to help out.

Thanks Emily and Have a Fantastic New Year...

AND THE WINNER IS...

Rich Jacobson ~ ActiveRain Community Builder (ActiveRain Corporation)

I am always bewildered by people who make critical comments like this about the content being published on ActiveRain (even if there is some merit to their criticism), and rather than sticking around and trying to contribute something meaningful, to serve as an example for others to follow, they elect to stay away. That makes no sense to me....

Nobody says I'm electing to stay away... the Great Blog Posts that I mentioned made me think and write up a blog post... which surprisingly was featured.

We all don't have the whole day to sit in front of the computer and need to spend our time wisely. Maybe you should read the post a little closer to understand it's more of a suggestion then criticism and I even point out blame to myself.

I've Been EXTREMELY Busy so my time has been limited and therefore.. has taken time away from me to spend more time on Active Rain. Some of my past posts have been pretty bad and I merely mention that I'm not the only one. :)

Jim's Comment in his 2008 A lot of Unanswered Questions Post which I'll highlight again:

"I am still feeling very uneasy about living through the biggest unexplained events to transpire since the "Great depression", but personally feel there are too many questions that are still not answered to my satisfaction. Even here on Active Rain, no one really talks about the events of 2008."

This Is one of the main reasons I posted and while there was criticism about content on ActiveRain... (about .02% of the entire post) there were also complements about the articles highlighted to give some more awareness of what is going on.

Nothing more.. nothing less and I got to throw in a topic to the future financial stability of this country that hopefully at least one other person picked up on and will share with somebody else...

Thanks and Have a Great New Year...

Sorry... I'm not going to add any pretty pictures in this post but hopefully if you made it this far you get what I mean for whatever type of blogging you decide to do from here on out.

I would love to go to one source for real estate blogs and catch up on all of the latest breaking news with some great insight from REAL ESTATE Professionals with the limited time I have... and I'm sure there are plenty of others that would like to do the same...

Jim Crawford wants answers... and so do a lot of Real Estate Consumers who trust us with some of the biggest financial decisions they will be making.

Happy 2009 and may your blogging practices bring in the millions of consumers looking for insightful commentary by a local real estate professional who gets what is going on... instead of the typical "It's Always a Great time to Buy and Sell Real Estate".

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Best Active Rain Blog Post of 2008

Thu, 01 Jan 2009 12:51:30 -0600

Honestly...

I have not been around Active Rain too much lately.. and when I have been around my posts have been as equally intelectual as some of the posts I have seen. But today I did see some great posts that made me think and want to write something thoughtful.

The AR e-mail hit my box with Kristal Kraft's "Should We Let Gloom and Doom Control our Destiny" which intrigued me so I clicked on through with the interesting study by Mr. Panarin. No surprise on the economic challenges taking place and the threat it means to our great country. Surprised on how the country is predicted to be broken up into several pieces controlled by foreign countries which I somewhat find ridiculous.

However... considering who owns what, who relies on what and who this great country owes... it's really not that ridiculous. When you look at the big picture we've unfortunately put ourselves into situations where we have to rely on countries that really do not like us all that much. Kind of like seeking financial help from that really sharp dressed guy with a last name that ends in a vowel who is a great friend... Until it comes time to collect.

I clicked on some other featured posts including Jim Crawford's 2008 A lot of Unanswered Questions which are questions that I've been asking since 2006 for the most part. Unfortunately they are still not answered and something tells me that unless people start getting more vocal... are not going to be answered in 2009. Let's face it... Barney Frank just got re-elected and if you don't know who Barney Frank is or what he does... you are part of the BIG problem and I suggest you do a little bit of research and get educated.

In Jim's post I quote:

I am still feeling very uneasy about living through the biggest unexplained events to transpire since the "Great depression", but personally feel there are too many questions that are still not answered to my satisfaction. Even here on Active Rain, no one really talks about the events of 2008.

And that's why I have not been around Active Rain too much... for over 120,000 members, there is little thought or research on what has happened. It's proven that the NAR has nothing more then their own self interests in mind and little to do with the best interests of the consumer. Otherwise, the Voice of Real Estate would have been harping and warning about the dangers of making real estate ownership an entitlement instead of the rightful privilege that it has been for centuries. Work hard.. save money and own real estate. It's why Kings are Kings and peasants are peasants.

The current economic news is old news if you've been following the Bubble Blogs... new if you've done nothing but followed Active Rain as your primary source of information. The Bad News or Gloom and Doom in the media has been years in the making. Much like a Cat-5 Hurricane that sits in the Gulf building up power before it hits the mainland. Much like Hurricane Katrina sat in the Gulf and built up power before slamming into Mississippi and New Orleans destroying the lives of the people ill prepared or who ignored the warnings.

Current economic conditions are no surprise except for those who chose to ignore it.

Which brings me to Jason Sardi's Post --> Are We Going to Be Okay? In his post he mentions the 94 to 6 rule in where 94% of the people are pessimistic and 6% of the population is optimistic. I believe that 6% of the overall population is Optimistic because they've taken the time to understand what's happening. The other 94% just ignore the indicators and become pessimistic when bad things start to happen.

I certainly Believe that 6% of us knew this was coming... and I think 6% of us are in the position to take advantage of buying real estate that rents out for more then the mortgage to the 94% of the people who thought real estate always goes up in price or that appreciation rates are always 10%+. Therefore... 6% of us are very optimistic because we've taken the time to learn and how to deal with what is taking place.

It's the concept of Going Against the Herd Mentallity that Warren Buffet and other great Investors Teach.

Approximately 6% of the population controls 94% of the wealth in this country.

There are 126,000+ members on Active Rain which includes plenty of Non - Realtors... Breaking it down would probably equate to about 6% of the total Realtors in the United States who see the importance of blogging and being educated enough to bring real estate to the next level.

Hopefully the picture of why 6% of the population being optimistic now makes sense. It's not because they bury their heads in the sand and say everything is going to be Ok, it's not because they ignore the conditions taking place and it's certainly not because they think it's all because of the gloom and doom of the media.

Many of you are just now seeing what we in Las Vegas have been seeing for well over a year now..

Tough economic times... real estate prices obliverated, displaced families, budget cutbacks THAT WILL effect you, school budgets cut and blah, blah, blah all created by VERY POOR management of resources from when the times were good.

VERY POOR and VERY UNEDUCATED Management of when we were rolling in the dough and acting like it was going to last forever.

WHICH Brings me to one of the Very Best Blog Posts of 2008 that I've Seen on Active Rain..

Perhaps it's because we specialize in Las Vegas Short Sales and I take the time to learn about my clients (unlike some other crappy short sale companies located who knows where that are only interested in collecting an application fee...) that I get to see the real pain.

I have a little interview process much like the listing process I used when I was with Sotheby's and selling Luxury Real Estate about why the owners bought the home to begin with. More often then not it was based on passion from very successful people who could more then afford the home. The same passions they shared... I advertised. It had nothing to do with making money, appreciation rates.. but just life in general.

I kind of do the same thing today and most of the answers are VERY disturbing on what home sellers were told when they purchased the home. Appreciation rates are 20%+ a year, you can just refinance, Las Vegas is running out of land and blah, blah, blah... It really had nothing to do with passion...

HERE IS REALITY:

WHY REAL ESTATE AND THE ECONOMY IS SUCH A MESS

Which is why when I came across Claire C's post about leaving 2008 behind really struck a chord with me.

Claire personally shares what I've seen over and over in 2008 with plenty of Las Vegas short sales sellers and it's tough when you really care.

For sharing her pain about 2008 and the hope for 2009, Claire certainly gets my nomination for 2008 Blog Post of the year.

REALITY OF WHAT WE NEED TO DO:

6% of us know that the current condtions are going to get worse unless things change. The Bailout programs are burying us into debt even further and there are some real problems that will make today's problems seem like a walk in the park. If you think that everything is just going to be OK because the same people who got us into this mess are going to get us out of it... WAKE UP.

Visit this site --> http://www.pgpf.org/ and take the time to learn what is really going on or Claire is going to be wishing she never saw 2009, 2010, 2011, 2012, 2013, 2014 and I'm certainly going to feel bad for my daughter when she turns 21.

Have a Great 2009 and WAKE UP to the Fleecing of America That Has Taken Place!

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058

Las Vegas FourPlex for Sale

Wed, 17 Dec 2008 16:17:40 -0600

Las Vegas FourPlex for Sale

Located in the Village of Karen, four 2 bed/1 bath units. Each unit features Refrigerator, Dishwasher, Washer/Dryer and fireplace.

Well maintained community with two pools that features onsite management for owners that wish to participate. (Only an 8% management fee.) Offered for sale for only $275,000 and you can click this--> Las Vegas Real Estate Investments for more information on this property.

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058