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Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

A Happy Thanksgiving for Las Vegas

November 18, 2009

NEVADA ECONOMY: State showing some life at last | www.lvrj.com

 This year, October data could make Thanksgiving a happy holiday for Las Vegas real estate professionals. 

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Las Vegas: Beyond the Bottom!

October 20, 2009

ECONOMIC INDEX NOW POINTING POSITIVE | www.lvrj.com

     In a week in which Las Vegas learned the local unemployment rate had skyed to 13.9% … passenger traffic at McCarran Airport slid 1.2% … and Nevada bankruptcy filings jumped 64% in the last nine months …. September housing market data actually comes as relatively good news.      At worst, Las Vegas is scudding along a bottom like a sailboat on choppy water. At best, it may be in recovery.      The key statistics: Prices appear stable. Inventory is still dropping. Sales continue to be strong.

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Foreclosures: The Key to the Real Future of Las Vegas

September 21, 2009

New Homes Back in Play for Las Vegas Buyers | www.lvrj.com

Las Vegas housing statistics for August continue to suggest that the residential market is scudding along a bumpy bottom, struggling to find stability in sales, inventory and pricing.But the big story in the August data for the Las Vegas residential market can be summed up in a single word: Foreclosures.

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

LAS VEGAS: THE RESIDENTIAL RECOVERY APPEARS TO BE UNDERWAY!

August 18, 2009

Nevada leads in foreclosures as U.S. rate climbs 7 percent | www.lvrj.com

      When people say Las Vegas had a "hot July," they may not be referring to the weather!      Las Vegas' July housing data makes it easy to suggest that the residential market is on the verge of sizzling.      PRICES ARE UP!      INVENTORY IS DOWN!      DEMAND CONTINUES TO SHOW FORMIDABLE STRENGTH!  In fact, at current sales rates, there is now just 2.9 months of available inventory in the existing home market. If less than 3 months of inventory defines a hot market, Las vegas is torrid!

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Las Vegas Residential: ON THE BOTTOM!

July 21, 2009

REAL ESTATE: Outlook for LV housing grim | www.lvrj.com

June housing data powerfully reinforces the idea that Las Vegas is now experiencing a residential bottom.

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

LAS VEGAS: RESIDENTIAL HAS FOUND THE BOTTOM

June 23, 2009

HOUSING INVENTORY INCREASE EXPECTED | www.lvrj.com

  May housing data strongly suggests that Las Vegas will experience a bottom to the residential recession in the 2nd quarter of this year.

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

LAS VEGAS: A LEADER AGAIN?

May 20, 2009

Home prices slide 14% | money.cnn.com

      This article notes that some communities -- like Las Vegas -- are showing dramatic improvement.     April housing data for Las Vegas continues to show stellar improvement on many levels.  But, the improving data fails to answer two key questions:      (1) Are we seeing a true "moderating" trend beginning to develop as the data suggests: Or     (2) Is this the calm before another recessive storm?        

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

POSITIVELY NEGATIVE

May 18, 2009

Home prices slide 14% | money.cnn.com

The National Association of Realtors Reported:     1.  The median single family home price fell 13.8% during the first quarter. That was the largest year-over-year decline in the last 30 years.     2.  The median single family home price slid 6.2% from the last quarter.     3.  Sales volume was weak as well.  Homes sold at a 4.59 million annualized rate in the first quarter, down 3.2% from the last quarter and 6.8% from last year.     While that is a gloomy assessment of the present, the report did include some positive points.  While we don't expect a "turn-around" in the very near future, there were some hopeful signs.

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

MORE THAN A LIFE JACKET

May 11, 2009

Big Project in Las Vegas Secures Pact to Survive | online.wsj.com

MGM Mirage's CityCenter, the $9.4 billion-plus resort under construction in Las Vegas, won a crucial victory last week when its lenders and owners struck a deal that guarantees the project will be finished.  With unemployment topping 10.4% in Las Vegas -- and headed higher in the short term -- this project offers three critical positive elements to the Las Vegas economy in the second half of this year.       (1)  It provides vital new employment; (2)       (2) It provides continued employment for those in construction and administration; and (3)       (3) It offers new reasons for visitation to Las Vegas.  In short, the completion of CityCenter is not a life jacket for the Las Vegas economy.  It may be a full fledged lifeboat enabling an escape from a sinking economy. Let me amplify these thoughts:

Steve Bottfeld, Principal

Steve BottfeldPrincipalMarketing Solutions What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

STOP PICKING ON LAS VEGAS

April 21, 2009

US Foreclosure Filings Jump as Moratoriums End | www.cnbc.com

    March came in like a lion and left Las Vegas residential real estate roaring.     There was powerful improvement in sales and inventory figures while prices remained relatively stable.  It may very well be that in the future, many will regard March as the bottom of the current downturn in Las Vegas.    I  have said repeatedly that the Las Vegas residential real estate bottom would begin in that month in which the number of foreclosure sales exceeded the number created. That happened in March - and it happened big.     For the second consecutive month, the number of ACTUAL foreclosures fell.  Las Vegas experienced 1,846 actual foreclosures in the month of March, down almost 400 from February.  The number of foreclosures sold, however, was 2,393.  In other words, there was 35% more sales of foreclosures than foreclosures created!

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