Localism: Nevada

Trash or Cash

The Magic of Las Vegas - Lance Burton Monte Carlo - Criss Angel & Holly Madison - MGM City Center

NEEDED... Supra Electronic Lockboxes

World Market Center - Las Vegas Nevada - by Robert Swetz

Henderson Nevada Real Estate - November, 2008 market statistics

Fri, 05 Dec 2008 05:08:48 -0600

The pride that people feel when they move into a new home is often nowhere in sight when their circumstances change and the bank forecloses on the home. In fact, banks who try to reclaim foreclosed homes often find them vandalized by the former owners, so consumed with anger and frustration that they lash out at their once-beloved property. A recent survey of real estate agents done by Campbell Communications of Washington, D.C. conjectures that half of the foreclosed properties owned by banks have substantial damage by the time the banks get possession. When "house love" turns to "house rage," the house becomes the stage for destructive drama.

The anger is often fueled by the vagaries of the market. Owners who bought in Las Vegas 10 -15 years ago, for example, might have paid less than $150,000 for their homes. By 2005 -2007, the property might have appraised for $250-500,000. Based on the skyrocketing value over the years, many people took out home equity loans on the higher value. Within the last year, properties have deflated and stripped people of the profit they thought they had, a serious problem if they had taken out a second mortgage. When some people fell into financial trouble, they could not plan on selling the house for the value of their second mortgage or home equity loan. These cases, plus the thousands who had subprime, interest only, or Adjustable Rate Mortgages, often found their way into foreclosure.

Many banks in Las Vegas and elsewhere have tried to decrease the likelihood that people who have lost their homes will damage them by offering them "cash for keys." In return for leaving the property by a certain date and leaving it in good condition, the formers owner receives a cash payment from the bank. Negotiators start low with a $300-500 offer but will go much higher to prevent loss and prevent costs of evictions of people who don't want to leave, (or who, perhaps, cannot afford to put down the deposits on a new place.) A few hundred or even a few thousand dollars will help the former owner get relocated and allow the bank to resell the home more quickly.

Money has proven to be good loss prevention against serious vandalism. Banks were finding that many homes they got back were stripped of built-in appliances, light fixtures, and copper plumbing. There were holes in the wall, graffiti, paint deliberately dumped on the carpeting, broken windows, cabinet doors ripped off, crowbar damage to staircases - all deliberate damage, not just a few un-spackled holes from pictures and few unwanted items left behind. Pets were often left in homes without food, water, and a way to relieve themselves, except on the floors. Banks, already thrown into the real estate market, now had more homes on the books that had to be sold "as-is."

Offering "cash for keys" gives former homeowners a little dignity and a little cash to take the first step toward rebuilding their lives. It minimizes additional costs for the bank, keeps up property values, and makes the home more saleable.

While no figures are available on how often "cash for keys" transactions are made, agents who handle foreclosed properties for Las Vegas report that it is a "regular part of the job." Not everyone who is forced to leave their home damages it on the way out. Many foreclosure victims could use a little help to move on; homeowners can request "cash for keys" assistance from the lender without threatening damage to the house.

With foreclosure activity raging strong in Las Vegas, and with more foreclosures to come, "cash for keys" will continue to be an important program.

For information on beautiful homes in Clark County, including bank owned properties available at great prices, contact your Prudential Americana Group Realtor® Yonas Woldu at (702) 236-8997 or visit www.VegasRealProperty.com. The N&Y team, lead by partners Nebi Adhanom and Yonas Woldu, is always ready to serve you.

Fri, 05 Dec 2008 03:44:06 -0600

We spent Wednesday night with a long time Las Vegas headliner, Master Magician Lance Burton at Monte Carlo on the Vegas Strip. Even with our front row seats, Lance continues to prove why he is a true master of his craft, with a performance of illusion after illusion that leaves you with that... 'How'd he do that?" From the simplest slight of hand, to his many birds and ducks that appear out of nowhere, to his more elaborate illusions with his dancers or vanishing and floating corvette and the $10 million in gold he uses to turn an assistant into a gold statue, his show continues to entertain.

Lance's show offers up the intimate style of magician interacting with the audience. His one-on-one with the audience is a contrast to the many large production shows, and that allows his warmth and humor to shine through. Audience volunteers also include children, something that Lance experienced himself as an audience volunteer at age 5. He was mystified by Master Magician Harry Collins and began studying magic and performing for children in his neighborhood. By his teens, Collins had noticed Lance's deep interest and became his mentor, later passing the magic wand off to his understudy.

In addition to Lance's own subtle comedy, you'll find the antics of his special guest performer even more laughable. Comic Juggler Michael Goudeau's outrageous segment continues to have the audience roaring. Of course he gets some of those laughs at the slapstick expense of 'stage hand' Tom, who is the brunt of a few of his 'accidents'. He also returns in other segments of the show.

Over the years, it's not unusual for celebrities to turn up in Lance's audience. There's a long list that I can recall since I've been here, and last night Lance made more magically appear and introduced them at the end of the show. A few rows behind us was Criss Angel of TV's Mindfreak and his new Cirque show 'Believe' that recently opened at Luxor. With him was his current date, Playboy Playmate Holly Madison, Hef's former girl that also appeared on Girls Next Door.

Lance is also one of the entertainers that is offering Las Vegas Locals Appreciation Specials, with his through December 13th. I've mentioned before that one of the benefits of living in Las Vegas is to be surrounded by so many entertainment options. Besides having the year round opportunities to catch resident and touring shows, these special locals prices are an added perk of living in the Las Vegas Valley.

I also wanted to mention the Monte Carlo since it has it's share of construction going on. Originally built in 1996 by Victoria Partners that was a joint venture of Mirage with then CEO Steve Wynn at the helm, and Circus Circus Enterprises, that later became known as Mandalay Bay Enterprises. Both those companies were rolled into the more recent merger of MGM Mirage.

Even with the above night shot, those familiar with it may notice that the entrance to the resort is undergoing a makeover. The drive has been redesigned and fresh landscaping is underway as you can see from the still tied palms. New restaurants have opened with the Light Group's Brand Steakhouse and Diablo's Cantina that is restaurant and nightclub with it's addition extending the front of the property closer to Las Vegas Blvd. The 21,000 square foot pool area is undergoing renovations and is slated to reopen in June 2009. Room remodeling originally slated to begin in 2009 got an early start due to an accidental roof fire that occurred earlier this year.

As you can see, Monte Carlo sits in the shadows of the most expensive private construction project in the US, said to be estimated at $9.2 billion excluding the value of the land. MGM's massive City Center will not only adjoin the Monte Carlo, it will integrate into it. The Monte Carlo parking garage was torn down and is being rebuilt to handle the larger capacity needed for the project. It along with City Center will open in stages throughout 2009 and shows the continued commitment to the future of Las Vegas.

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call me at 702-354-8988. I look forward to hearing from you!

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Fri, 05 Dec 2008 02:24:03 -0600

I am looking to purchase some extra Electronic Supra lockboxes. The blue colored "Ibox".

It does not matter if you are not in my area, the boxes function the same everywhere. If you are not a member of the Greater Las Vegas Area REALTORS Association though, you will need to get your lockbox "de-programmed" by your local Realtor(R) association prior to selling them. If you are a member of GLVAR, you will also need to sign off on a lockbox transfer form that I can email to you.

Please call me at 702.837.6686 (9:00 AM to 7:00 PM west coast time please) to set-up the sale and make some extra x-mas money.

Fri, 05 Dec 2008 01:09:05 -0600

World Market Center Las Vegas is a dynamic new showcase for the home and hospitality contract furnishings industry in the heart of Las Vegas, the fastest-growing home furnishings market in the country.

When fully completed, World Market Center Las Vegas will have more than 12 million square feet of state-of-the-art exhibit space in 8 buildings on 57 contiguous acres in downtown Las Vegas. All segments of the industry will be together on one mega-campus, making it the largest, most comprehensive, most accessible showroom and convention complex in the industry.

But the home furnishing industry doesn't have to wait for completion in order to appreciate World Market Center's many advantages. With the debut of Las Vegas Market in July of 2005, World Market Center gave the entire industry what they'd been asking for: a world-class Market with state-of-the-art facilities, exceptional market representation, ultra-convenience, easy access, cutting-edge technology and unprecedented amenities-all in a city with an unrivaled reputation for fun, excitement and hospitality.

Las Vegas Market takes place twice a year and is open only to members of the retail furniture and design trades. There is no fee to attend the Market but you will be required to provide a Resale/Tax ID Number or Interior Design Certificate Number to register.

WMC's Commitment to 'Green'

World Market Center is proud to be a

founding member of the Sustainable

Furniture Council.

Offering sustainable educational

programming and juried exhibits as well as an on-site recycling and refuse system, World Market Center is dedicated to the promotion of sustainable practices.

photographs above taken in Las Vegas, Nevada by: Robert Swetz and duplicating in any form is in violation of copyright infringement and subject to fines.

Please look at my new web site on photography, it's almost complete www.SearchMyPics.com

Real Estate www.VegasBuildingsForSale.com

Photographs taken 12-4-2008

Single Family

Condominium

Thu, 04 Dec 2008 23:29:15 -0600

Listed below are the current inventory and November, 2008 statistics for home sales in the Henderson Nevada real estate market. If you have any questions or need more information about real estate in Henderson Nevada call me at (702) 339-9700 or email me at JohnNovak@kw.com. I'm looking forward to earning your business!

Total Homes Available:

3,085 (as of December 3, 2008)

Single-Family: 2,483 (8.3 month supply*)
Condo: 334 (12.4 month supply)
Townhouse: 268 (10.0 month supply)

Total Contingent and Pending Sales:

754 (as of December 3, 2008)

Single-Family: 644
Condo: 63
Townhouse: 47

November, 2008 Sales:

Single-Family: 300 (Price range: $47,500 - $2,000,000)
Condo: 27 (Price range: $65,000 - $395,000)
Townhouse: 27 (Price range: $37,500 - $302,500)

Sales per month
	Jun	Jul	Aug	Sep	Oct	Nov
Single Family	363	407	383	379	351	300
Condominium	24	34	25	28	22	27
Townhouse	29	30	34	34	26	27

Median Selling Price:

Single-Family: $237,750
Condo: $105,000
Townhouse: $147,000

Median price by month
	Jun	Jul	Aug	Sep	Oct	Nov
Single Family	$276,000	$265,000	$260,000	$252,000	$250,000	$237,750
Condominium	$147,250	$145,000	$145,000	$124,000	$122,250	$105,000
Townhouse	$176,250	$164,950	$170,000	$150,000	$150,125	$147,000

Average Days on Market:

Single-Family: 65
Condo: 89
Townhouse: 53

GLVAR deems information reliable but not guaranteed. Information is for MLS areas 601-606.
* - Supply = Homes Available/November Sales

Neighborhood reports - 2nd quarter, 2008:

Anthem Country Club	Inspiration at Green Valley Ranch
Anthem Highlands	Solera at Anthem
Black Mountain Vistas	South Valley Ranch
Calico Ridge	Southfork
Candle Creek	Sun City Anthem - (June)
Clearwater Canyon	Sun City MacDonald Ranch
Coventry at Anthem	Ventana Canyon
Glengarry at Anthem