We had our first “State of the Market” phone conference with all our Las Vegas home sellers last week and it was fantastic!  Our clients absolutely loved it.  I attended a few conference calls recently and the light-bulb turned on. What an excellent tool to communicate with our clients and keep them informed about the Las Vegas real estate market.  These statistics empower our clients to make intelligent decisions regarding their property. We have received two additional offers already from re-focused and re-motivated clients.  

I believe it takes this kind of thinking in today’s market to become a success story.After the conference call, I engaged each of my clients in one-on-one conversations. The most common questions were, “When will things turn around for us as a seller in the Las Vegas real estate market?”  And “What is going on in the mortgage business?” Today I want to address the first question, in my next blog I will address the second.

The market is adjusting to conditions created in the run on real estate during the past six or seven years.  In the late ‘90’s, Las Vegas was an undervalued market when compared to surrounding areas, especially California.  Additionally, Las Vegas is quickly running out of land within its main Valley.  Of course we saw prices increase.

Another variable which caused havoc was the “Gold Rush” mentality of investors that came flocking to Las Vegas, buying-up houses in multiples. . . . Looking for a short term hold . . . . And an opportunity to cash in on this previously undervalued market as it was gaining momentum. Almost everybody got caught-up in the buying frenzy.  Home prices sky-rocketed. Builders went wild constructing new homes as fast as they could, trying to cash in on the run-away equity phenomenon.  All of this was something very few, if any, had expected or even predicted.

Until the effects of this incredible run by investors shakes out in the Las Vegas market, things are going to feel stressed.  It’s only natural for it to feel like “the sky is falling” as this market settles back down…But once that happens, and it will, we may see another run, albeit nothing like that of the 2004-2005 spike, on home values. Most experts are predicting such a turnaround toward the end of 2008/early 2009.

There are so many factors that are causing me to feel strongly on this point…from the slow-down in permits being pulled by new home builders, to the incredible amount of capital being infused into new developments in Las Vegas ($30 billion alone along the “Strip”), to the thousands of new jobs that are coming late 2008 through early 2010 as a large number of new hotel/casino projects reach completion…Las Vegas is still growing rapidly.

Contrary to many gloom and doom reports recently published in local and national media about Las Vegas, I am not so “gloomy” or “doomy.”  As markets cycle it is important to keep it all in perspective.  And for many, even in these slower times, great profits are being realized in the sale of Las Vegas homes.

Please feel free to contact us with any questions or Las Vegas real estate needs you may have.  We are here to help.You can reach me at David@LasVegasMove.com And, to see every home for sale in

Wow! 

     Well, here I am . . . . And it’s three months later!  About that April blog blastoff:  I didn’t realize all that I didn’t know about blogging and the whole blog world.  How fascinating.  And frustrating and time-consuming and, ultimately, satisfying. What a strong commitment this whole process requires. 

     Know that I am committed to the LasVegasMove.com’s real estate blog because I realize that there are thousands of folks out there who move to Southern Nevada every month…..And many more who are currently just gathering information in anticipation of relocating to Las Vegas.  I believe you need a competent, credible and newsworthy source to assist you in collecting your data.

     Whether it is acquiring information about Las Vegas’ communities and neighborhoods, getting the inside scoop about a particular elementary or middle school, or learning about some of the most up-to-date chatter about life and living in Las Vegas, I want this to be our customers and friends’ first and only stop on the Internet.

     If you have questions about something you have heard, or if you just need more information about anything Las Vegas, please feel free to contact me.  I will share with you what we know and, if necessary, ask one of my team members to dig deeper and personally research the item for you.

You can look forward to reports on places to live in Las Vegas, updates on the “Manhattanization of Las Vegas” and the high-rise craze that has swept through the Valley. You will get reports on the newest proliferation of casino and hotel developments along the Las Vegas “Strip,” and a host of other hot topics that I believe will benefit the person or family looking into moving to Las Vegas.

So… Welcome again and we look forward to building an informative and fruitful blog with you.

Sincerely,