Costar has published a fascinating discussion of distressed real estate trends and distressed debt. Ron Opfer discusses Las Vegas below in this direct quote from the Costar Article. The Craig Promenade deal is typical of what Las Vegas insiders are seeing these days. "There have been three 90,000-square-foot plus retail centers, (one was retail/office), close in the last 90 days. None of them are grocery anchored, and, most of them have been plagued with leasing trouble," said Ron Opfer, director o... read more

REIT's have been on a tear in the past year and apartment REIT’s have been doing particularly well. NAREIT finds that apartment REITs had a return of 47% compared to 15.06% for the S&P 500[i]. Actually I found even the S&P returns to be better than I expected as we headed into 2010. I still don’t believe in a lot of public earnings but then again, I am a real estate analyst rather than a securities analyst. The REIT returns have been even more shocking. Why is the apartment sector faring better... read more

The state Department of Employment, Training and Rehabilitation has reported that the unemployment rate for the state has dropped to 13.2% while Clark County dropped to 13.3%. This was the first year-over-year increase in 38 months. While the unemployment rate remains elevated, at least this rate drop was due to evidence of job creation rather than a disapearance of individuals in the labor force. March was merely one month but after such a long period of weakness, any encouragement has been taken with open arms. ... read more

 This Thursday the 16th there will be a Broker Pre-View Event at the Gables Community in Las Vegas. These homes feature: New Homes Move-in Ready Quick Close 3% Commmission Not REO or Short Sale Small Gated Community The event will be held at the community at 2920 Gables Vale Court from 4:00 to 6:00 pm. RSVP to GablesLV@cbvegas.com. For more info visit www.Gableslv.com or call 702-259-2000. This is a great community in a very convenient location. ... read more

It is well known that economic conditions have greatly changed the rate of household formation. Young adults are cohabitating with parents, friends or relatives at an uncommon level. For this reason, John Burns, a recognized researcher who studies housing, believes that the rental market is about to "explode." In the shadows of the housing crisis there are many individuals who are seeking a home of their own. This is likely to drive rental demand when job growth is sufficient to add fuel to this. ... read more