Some short bullet points on recent news: - Slot machine revenues have increased for three months. Reported gaming revenue in May showed a year-over-year increase (although baccarat accounted for much of this). -CNN Money ranked Las Vegas as a top city to purchase rental properties. Noting our obvious bias, we do agree with their assessment based on the strong rates of return we have been observing in the market and by our own clients.            ... read more

The Case-Shiller home price index continues to post declines, yet many of these observations are lagged. The current index release is for March with the April release scheduled for Monday. The March figure was off 1.1% from February, whcih is a sizeable slide. However, the late spring and early summer months are generally hotter selling seasons and this has yet to be reflected in the Case-Shiller numbers. FNC, Inc has an alternative index based on a hedonic methodology that I really like. The formation of prices... 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

 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

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