Recessing a Fine Line or Just Rambling On.....

The economic signs seem to keep pointing toward that "R" word.  Of course it is hard to know for sure, you could poll 10 so called economists and probably get 10 different takes on the subject.  Now whether the country is officially in recession or not is not the point, fact is most American are feeling the pinch and we as real estate professionals are seeing this first hand.  With the credit debacle and tighter lending standards, it has become harder for the average person to achieve the American Dream of home ownership, which in turn affects the livelihoods of all of us.  Living here in Southern Nevada, we are experiencing record foreclosures and defaults, but on the upside prices have fallen to more affordable levels which should help in the long run.  Of course we are not alone in this problem, most of the country has seen their share of foreclosures and price decreases.  There is one exception that comes to mind, my hometown of Lubbock, Texas.  Though sales have softened somewhat their housing market remains relatively healthy and pricing stable.  Maybe this is just an anomaly or the fact that Bobby Knight lives there.... If only we had some celebrities living in Las Vegas... Sorry, back to the writing at hand, though the markets and economy are experiencing a tough go right now, I believe the the second half of the year will improve.  In Las Vegas our sales of existing homes rose last month on what I hope will be a sustainable trend.  Buyers seem to be more active in recent weeks and calls have increased pointing to a better spring and summer selling season.  Well enough spewing from me for now, but I am sure I will have another thought before long.

Till Next round.

Big 12 Tournament

Hook Em Horns!!!