Coldwell Banker Premier Realty

  
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Clark County Gaming Revenue-August Increase

Anomaly or the start of a trend?
Posted: October 08, 2010 at 9:49 AM by John McClelland

Clark County gaming revenues leapt month-over-month by over 16%. That is the second month-over-month gain this year and a 13.8% increase year-over-year. Naturally there is a random component to all of this so we cannot say it is a trend. We need a few more months before I would call it a recovery. Pronouncements by the public gaming firms are going to be enthusiastic but are not likely to be jubilent as they need to balance nice looking projections against a backdrop of shaky national economic news. Blo read more

Las Vegas Commercial Real Estate Report

A detailed analyis of Commercial Assets in Las Vegas
Posted: September 29, 2010 at 9:38 AM by John McClelland

We have just concluded our study of commercial real estate trends in Las Vegas. There are several takeaways from the report.    Distressed properties, reflect weakened fundamentals and deleveraging, leading prices downward.    Industrial buildings are approaching the same price-per-square foot that they were near the beginning of the decade.    Many office sector businesses have downsized or gone out of business and the existing demand seems to read more

Price Index/update

Posted: September 29, 2010 at 9:17 AM by John McClelland

Yesterday, Standard & Poor's released the S & P/Case-Shiller home price indices. Major news outlets were all over the place when quoting these. Some said it went up, some down, some sideways. I would like to highlight a few features of these indices:-There are seasonally adjusted and non-adjusted indices. Standard & Poor's, in a technical bulletin, recommends against using the seasonally adjusted series because it can misinterpret variations in the choppy real estate markets with seasonality read more

Home prices and mortgage rates

There are more variables than two
Posted: September 08, 2010 at 9:49 AM by John McClelland

David Leonhardt had an interesting post in the New York Times business section today. He provides an exibit of home prices against mortgage rates. As you can see from his chart, the relationship is not very close, that is they are not cointegrated. The relationship betweent the two series is not direct, presumably because the borrowing rate is not the only variable people need to think about prior to their home purchase. Job growth, family size, comparable rents and other factors are mixed in there too. Nev read more

HAMP

Policy Objects, Numbers update
Posted: September 07, 2010 at 9:21 AM by John McClelland

HAMP, or the Home Affordable Modification Program, an initiative that the Obama administration has been pursuing recently, is missing quite a few of its intended marks. Like its name suggests, HAMP was intended to target 3 million struggling homeowners at risk of foreclosure by working with their lenders to lower or modify monthly mortgage payments so that these individuals could stay in their homes. Of course, like any program the government pushes, there are many flaws. HAMP is no exception.Ac read more

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