Don't be fooled...

Wow, it's been over two weeks since I've posted a blog.  Well, I apologize to all three of you that subscribe to my blog.  Seriously, I only have three subscribers.  Can't say that I blame you.  I'm not too consistent at posting my stats.  Fortunately, it's because I've been extremely busy!  So, I'm not complaining and I hope all three of you understand. :)

Anyway, I titled this "Don't be fooled" because some of the market stats may look like we are pulling out of our over-supplied. declining market.  Well, I hate to burst your bubble since it is the Holiday Season and all, but it's all a "mirage".  Las Vegas has a strong economy so that helps stabilize our housing market, but that's not stopping the foreclosure steamroller.  Sure our inventory has gone downover the past couple of months, but so have our wtihdrawals.  It's the Christmas Season and some people are holding off listing their homes.  Some people are temporarily withdrawing their listings.  And, some people are just hanging in there as long as they can.  In the midst of all that the banks are plugging away and calling in their non-performing loans.  OVER 20% of the properties sold in the last 30 days were REO properties.  That supply is not diminishing.  So, while we continue listing bank-owned properties, buyers will enjoy the improving buyer's market!  But we aren't coming out of our current oversupply for some time...don't be fooled...

 Oh BTW, here are your stats!