Las Vegas is hosting one heck of a New Years Eve party, so if you can’t be in New York City with the Clintons, this is the place to be!  Just keep in mind that the Strip will be closed to car traffic.  On an unrelated but strange note, maybe you heard that executive at [...]

Right now, there are 818 condos available in the Las Vegas Valley listed at $100,000 or less, and a few more in age-restricted communities. Of those, 537 were built 1990 or later. And of those, 244 are less than 10 years old.  For the moment, let’s drop from consideration the 108 condos that are listing [...]

The absolute best part of my job is handing keys to a new homeowner after the sale closes. I got to do that twice today, for two different families. I am so happy for them! Sadly, in each case there was what I consider to be a safety and security problem waiting to happen. I [...]

First, from the “I sure hope so” files, we have the prospect of a high-speed train between Vegas and Los Angeles.  The Governor of Nevada is asking President-Elect Obama to consider it for part of his stimulus plan. The Governors of both Nevada and California endorse the plan. I think it’s a great idea that [...]

It turns out I was right about the mortgage modification plan passed back in July and implemented in October. Here’s what I said then:  Now, here’s the deal-breaker. The old mortgage company has to agree to write down the loan to 90% of the current appraised value and forgive the remainder. CNN correctly points out [...]

I’ve had Kitec come up twice in the last week, which is unusual considering that I don’t really work Sun City.   If you need information on the ongoing Kitec lawsuit, you will want to visit PlumbingDefect.com. Although a tentative settlement has been reached, it’s not over yet. This story has a little more background [...]

Then you can’t blame the Community Reinvestment Act, passed in 1977.   You can, however, blame the Bankruptcy Reform that was passed back in 2005.  Here’s the short version: Before [Bankruptcy Abuse Reform], any household could file Ch. 7 bankruptcy and have credit cards and other unsecured debts discharged. Sidestepping unsecured debts left more income [...]

At least one expert thinks that housing prices here in the Valley are starting to stablize. While prices did not rise in October, they were remarkably close to September levels, Larry Murphy of Las Vegas-based SalesTraq said. New home median prices slid less than $4,000 to $249,000 and existing home prices dipped just $2,000 to [...]

There’s been much said today about the Treasury’s “plan” to force mortgage rates down. Since no government agency actually has the authority to “control” mortgage rates directly — not even the Federal Reserve! — it would have to be done indirectly through the purchase of mortgage backed securities.  A whole lot of mortgage backed securities.  That [...]