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December 16, 2011
Almost done with Christmas shopping? I hope so, because it’s time for Friday Figures! All information from the GLVAR MLS system. Here’s what you and your REALTOR need to know before touring, making an offer, or preparing a listing in the Las Vegas Valley this weekend. Be sure to tune in and see me talk about the figures live on Getting REAL (Estate) in Vegas on the Vegas Video Network live today and every Friday at 2:00 PM. Today we talk about the NAR’s upcoming home sales revisions and Occupy Our Homes.
Summary: According to our MLS system, we’ve broken under 12,000 listings! There are only 11851 available properties. A year ago we had 16417. Remember that this low level might be partly seasonal, as non-institutional sellers (”normal people”) don’t really want their holidays interrupted by showings! Banks also want to avoid the bad publicity of foreclosing and evicting someone right before the holidays (how Grinch-like!), so the number of bank owned properties may rise after the first. One interesting thing is that list prices are very close to where they were last year — a great sign considering how far they’ve fallen. There are also signs that short sales are being processed more quickly, even if banks aren’t exactly following Nevada’s 90 day rule.
The News: There are some signs that we are recovering from the foreclosure mess nationwide, but that doesn’t mean all will be sunshine and roses. Meanwhile, it looks like a foreclosure fraud settlement that lets banks get away with fraud is likely to be made by Christmas. At least one Senator thinks that’s a bad idea.
Mortgage rates have hit yet another all time low, now at 3.94%. That’s just crazy.
The NAR will be revising it’s existing home sales figures for the last 5 years. I’ll be talking about how they managed to overcount by roughly 13% on today’s show.
#134: Christmas in Las Vegas - Five Fun Favorites
December 13, 2011
We begin today’s Living in Las Vegas Podcast with an exciting announcement about the number of people who’ve been watching VVN’s live broadcasts. That’s followed up with some free Christmas music and a behind-the-scenes look at what it was like to meet Bill Engvall. We wrap things up with five* things to do for Christmas in Las Vegas and a Hot and Horrible review of Carniveno. Show notes:
- Visit LASIK of Nevada (50% Off Premium LASIK + $200 more if you mention VVN)
- LiLV Stuff
- NEW TOLL-FREE Listener Line: 866.966.4599
- Sign up for Email Alerts (form found on right side of our website)
- Get your questions answered: OnAirQ@LivingInLV.com
- Follow us on Twitter: @VegasVideoNtwrk
- Visit our FACEBOOK Page: Facebook.com/VegasVideoNetwork
- Today’s Adoption: Stuart in Moscow
- We’re having a baby!!
- VVN reaches a BIG NUMBER of folks
- Facebook giveaway: Christmas Music
- Meeting Bill Engvall
- Thanks to Chris Herrin at Bread and Butter, Las Vegas!!
- Listener Email: Getting the Christmas spirit in Las Vegas
- Hot and Horrible: Carnevino
* Ok, it was six. But we’re fans of alliterations so we went with five.
December 9, 2011
I’m back and ready to go! Welcome to Friday Figures! All information from the GLVAR MLS system. It’s what you and your REALTOR need to know before touring, making an offer, or preparing a listing in the Las Vegas Valley this weekend. Be sure to tune in and see me talk about the figures live on Getting REAL (Estate) in Vegas on the Vegas Video Network live today and every Friday at 2:00 PM. Today we talk about Vegas’s new foreclosure ordinance, stupid Realtor tricks that could prevent people from buying your home, and a very special What Were They Thinking.
Summary: We now only have 12120 available properties in our MLS. Expect more classic and short sale listings after the first of the year, as people finish the holidays and face reality about the need to sell their homes. Surprisingly, the number of properties under contract is also down — a sign that these listings are closing rather than falling out of contract and becoming available again.
The News: California and Nevada are continuing to fight for a proper investigation of foreclosure fraud — despite the mysterious death of at least one witness — putting a nationwide foreclosure fraud settlement at risk (good, put a stake through the chest of that settlement, because it sucks!).
There’s been a lot of speculation this week about whether the nationwide market has bottomed or not. The opinions? Probably, but we aren’t out of the woods yet and it may well take half a decade to actually recover.
This week, the Las Vegas City Council approved a strict foreclosure ordinance. The purpose is to force banks to take care of foreclosed properties and not let them fall into disrepair. I will be talking about this proposal on the show today, so don’t forget to tune in.
And finally, I am an agent at a Prudential Real Estate and Relocation Services branch. Earlier this week, PRERS was sold by Prudential Financial Services to Brookfield Residential Services. Brookfield will continue to license the Prudential name. This should not effect my business in any meaningful way.
#133: GiddyUp Little Doggies! We’re Back in the Saddle!
December 6, 2011
After adopting our latest child (Wayne), this episode of the Living in Las Vegas Podcast begins by exposing a potentially disturbing side of Scott with a peek at the Cowboy Christmas. We get some “insider” info about why we’re seeing a bunch of guys in hard-hats running around Fountainbleu. We’re joined by our first-ever in-studio guest Sally Cannon of Positively Kids. And wrap things up with a review of Frankie Moreno’s outstanding new show at the Stratosphere. Show notes:
- Visit LASIK of Nevada (50% Off Premium LASIK + $200 more if you mention VVN)
- LiLV Stuff
- NEW TOLL-FREE Listener Line: 866.966.4599
- Sign up for Email Alerts (form found on right side of our website)
- Get your questions answered: OnAirQ@LivingInLV.com
- Follow us on Twitter: @VegasVideoNtwrk
- Visit our FACEBOOK Page: Facebook.com/VegasVideoNetwork
- Today’s Adoption: Wayne
- A gift from the studio audience
- Traffic ticket update
- Fountainbleu activity and what it really means
- Listener Email: Moving to Vegas, let’s meet up
- Positively Kids’ Sally Cannon
- Frankie Moreno’s show at the Stratosphere
December 6, 2011
Whew! It’s nuts out there. Thanks for taking time away from the stores to check out the Friday Figures! All information from the GLVAR MLS system. It’s what you and your REALTOR need to know before touring, making an offer, or preparing a listing in the Las Vegas Valley this weekend. Normally I talk about the figures live on Getting REAL (Estate) in Vegas on the Vegas Video Network every Friday at 2:00 PM, but we will be taking this week and next week off.
Summary: Available units continues to drop, now at 12582. Expect a spike after the first of the year, since many sellers don’t want to have their holidays disrupted by potential buyers. It’s very encouraging that availables are down since the number of available foreclosures and classic listings are both up! Obviously, this means we have fewer short sales this week. There are also fewer short sales under contract. Closings were very strong, considering the short work week.
The News: One of the big news items you won’t hear too much about is that PMI has filed for bankruptcy. PMI is the largest provider of private mortgage insurance — the stuff that is supposed to pay the bank if a a borrower defaults and the lender has to foreclose. Speaking of foreclosures, it looks like there might be a 49 state deal that excludes California. That is, unless New York, Delaware, and Nevada decide they have enough evidence to really tackle the fraud that banks did.
If you love charts and figures, go check out this great post over at The Mess That Greenspan Made!
Mortgage rates are down yet again, this time to an absolutely amazing 3.98%. I will be shocked if rates are this low a year from now. Maybe that’s why existing home sales are up.
