Filed under: Buyer's Agent, Getting a Mortgage, Investment Properties In Las Vegas, Las Vegas Realtor, Scot Savage | Tags: las vegas real estate, Las Vegas Realtor, Scot Savage, Getting a Mortgage, Las Vegas Vacation Homes, Home Buyers Tips, home inspections, Green Valley Ranch, Desert Shores, Eldorado, Green Valley, LAS VEGAS
May housing data strongly suggests that Las Vegas reached the bottom of the residential recession in the 2nd quarter of this year.
There are four reasons for that conclusion:
1. EXISTING HOME SALES CONTINUED TO EXCEED THE CREATION OF FORECLOSURES: May was the third consecutive month in which the number of foreclosures purchased exceeded the number of foreclosures created. In our mind, that is the beginning of a trend. The impact created by the end of the foreclosure moratorium on March 6 may interrupt this trend later this summer. But, the trend now looks solid.
2. SALES CONTINUE STRONGLY: May marked the 17th consecutive month of increasing existing home sales. May’s 4,476 existing home sales were a 66% improvement over the same period last year and a 10.2% improvement over April’s sales.
3. INVENTORY IS AT THE LOWEST POINT IN MORE THAN THREE YEARS: At current sales rates, the 13,667 available listings – the lowest since January 2006 – represents just 4.3 months of supply. A “hot” market is defined as one with 3 months of supply or less. Financial institutions now sit on approximately 14,000 REO’s in Las Vegas and are certain to add more in the future, but will likely to continue releasing them for sale at a systematic, rational rate. We know that it is in the best interests of the financial institutions involved to be judicious in the number of REO’s they release each month.
4. EXISTING HOME PRICES SLID JUST 2.4% LAST MONTH. That’s the smallest decline since March 2008 and a hopeful sign for the future.
Here are some additional details:
Existing home sales and foreclosures were the dominant statistics for May, as they have been for the last several months. But, now supply is edging into the picture.
For the 17th consecutive month, existing home sales improved. Almost two thirds of the existing home closings (64%) in May were bank owned homes (foreclosures) with a median price of $106,000. The balance was non-bank owned homes with a median closing price of $140,000. The number of foreclosures in May was 1,769, a 26% decrease from last year, but an increase over April. The new residential market suffers a distinct pricing disadvantage against the Existing home market. It hasn’t left the starting gate … and won’t until there is less of a price discrepancy. Currently, the average price per square foot of a new home is $106.59. Compare that to the average price of an existing home: $77.41. That’s one reason why May’s new home sales remained in triple figures (383, an increase of 25 units over April). The median price of a new home sold was $211,489, a drop of 2.4% from April. The minimal drop in price echoes what is happening in the Existing home segment of the market. New home inventory is also in decline. There were just 298 new home permits “pulled” in May. And, the number of new home communities slid to 300 – a 48.2% drop off the peak of 579 recorded in July 2007.
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Filed under: Buyer's Agent, Home Buyers Tips, Las Vegas Hi Rise, Las Vegas Realtor, Las Vegas Vacation Homes, New Homes, Scot Savage | Tags: buy a new home, Getting a Mortgage, Home Buyers Tips, LAS VEGAS, Las Vegas Hi Rise, las vegas investment properties, las vegas mid rise condos, las vegas real estate, Las Vegas Realtor, Las Vegas Vacation Homes, Scot Savage, Stimulus
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Filed under: Buyer's Agent, Getting a Mortgage, Home Buyers Tips, Las Vegas Realtor, New Homes, Scot Savage, Uncategorized | Tags: housing, LAS VEGAS, obama, real estate, Stimulus
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Filed under: FREE SHOW TICKETS, Las Vegas Realtor | Tags: free las vegas show tickets, FREE SHOW TICKETS, las vegas real estate

For Laughs and a good deal on LAS VEGAS REAL ESTATE, Call REALTOR Scot Savage at 702-261-9048, www.ScotSavage.com
Filed under: FREE SHOW TICKETS | Tags: free las vegas show tickets, FREE SHOW TICKETS, las vegas real estate, Las Vegas Realtor

For Laughs and a good deal on LAS VEGAS REAL ESTATE, Call REALTOR Scot Savage at 702-261-9048, www.ScotSavage.com
Mesmerized – “Holy Hit”- E! Entertainment TV – See the show or be the show! Mesmerized is an energetic mix of comedy, hypnosis and chaos.
Come see hilarious audience volunteers live onstage as the number one hypnotist in the world whips the crowd into a frenzy. Marc Savard, awarded the 2008 Star Award as Best Hypnotist by S.H.O.W., performs the “wildest” show on the Strip! Ages 18 and over.
Write me for info on how to get FREE SHOWTICKETS TO THE LA COMEDY CLUB, scotsavage@aol.com www.ScotSavage.com
Filed under: FREE SHOW TICKETS | Tags: free las vegas show tickets, FREE SHOW TICKETS, las vegas real estate, Las Vegas Realtor

For Laughs and a good deal on LAS VEGAS REAL ESTATE, Call REALTOR Scot Savage at 702-261-9048, www.ScotSavage.com
The event begins with the side-splitting ceremony in which anything can happen (and usually does!). Then, it’s time for the most hilarious wedding reception you’ll ever attend! You’ll enjoy a full Italian meal, raise a champagne toast, eat the wedding cake and dance the night away at the party you and your friends will be laughing about for years to come. The show stars “Tina,” the headstrong 20-something party girl bride with an attitude – and “Tony,” the rowdy, handsome, yet charming groom-to-be.
Write me for info on how to get FREE SHOWTICKETS TO THE LA COMEDY CLUB, scotsavage@aol.com www.ScotSavage.com
Filed under: Buyer's Agent, Home Buyers Tips, Las Vegas Hi Rise, Las Vegas Realtor, Las Vegas Vacation Homes, New Homes, Scot Savage | Tags: Las Vegas Realtor
Dear Lord, thank you for living with Billy and NOT MICHAEL VICK
Filed under: Las Vegas Realtor, OJ, OJ SIMPSON, Scot Savage | Tags: LAS VEGAS WEEKLY MAGAZINE, OJ SIMPSON, OJTalk.com
FROM THE LAS VEGAS WEEKLY MAGAZINE
“How lucky for me that he made the stupidest mistake of his life in my city!” Scot Savage is talking about former NFL star, television pitchman and double-murder acquittee Orenthal James Simpson. On September 13, 2007, Simpson and three armed men allegedly went into the Palace Station to retrieve his sports memorabilia. As a result, Simpson’s facing armed robbery and kidnapping charges in a trial scheduled to start in September.
It’s kinda funny seeing a grown man this gleeful. A tie-dye-shirt-wearing real-estate agent by day, by evening Savage is the hucksterish webmaster behind OJtalk.com, a cartoonishly amateur website featuring O.J. chat rooms (five in all), photos, paraphernalia, even an O.J. crossword puzzle. The site’s promo line: “100 percent Juice all the time.”
Days after Simpson’s arrest, Savage bought the domain name, figuring he could create the web repository for anything trial-related. Savage got someone to hold up an “OJtalk.com” placard at the first police press conference and, within a day, 50 people signed into the chat room. Double-whammied by the housing market meltdown and foreclosure crisis, Savage reconfigured the site into an e-commerce destination where you can buy all sorts of cheesy items, such as coffee mugs with Simpson’s mug shot. (Get it?) Thus, the glee: “Ultimately, I hope to make some money off of this,” he says.
It hasn’t happened yet. Maybe America has O.J. fatigue. If so, Savage has an answer. During Simpson’s arraignment, he saw how more colorful characters—the guy in a chicken suit, the funky-dressed Chicago soul brother, the Nicole Brown Simpson look-alike—got all the media attention. So he put an ad on Craigslist looking for “freaks.”
“I answered the call,” says “Moondog” Wantland, a 52-year-old, wheelchair-bound former professional wrestler whose first match was against Andre the Giant.
We’re inside Moondog’s cramped Henderson studio. In case you’re wondering—no, he doesn’t mind being called a freak, and yes, he’s tickled to be the bespectacled, Santa-bearded, Dr. Seuss-hat-wearing face of OJtalk.com. (The website’s other spokesperson, a 36-year-old naval reservist grandmother who dresses as Wonder Woman and Xena the Warrior Princess, was out of town at the time.)
“Get it in there that I’m disabled but that I’m still a fully functioning individual who can work for a living,” Moondog says. At this, he and his guest, a black-clad, sequin-bloused Lady El Vis (real name: Shawnda Guerra), launch into a humorous version of “All Shook Up” that, I suspect, isn’t supposed to be funny. All three met while working with madman comic Jeff Beacher.
Now it all makes sense.
When the trial starts, Moondog plans to be parading about in his sequined, bandana-ed wheelchair and outrageous getups too colorful to ignore. (This day, he wore bright red trousers, a glittery vest and a necklace with lighted skulls.) It’s in his best interest if the trial becomes a spectacle. If not, he may have nothing to show for his smug opportunism. Savage tries to sound optimistic.
“Hopefully, justice will be served this time,” Savage says. And if the word “justice” fits on a coffee mug, all the better, eh?
Filed under: ALARM SYSTEMS, Las Vegas Realtor, Scot Savage | Tags: ADT, ALARM SYSTEMS, FREE, INTERNET SPECIAL
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