Archive for January 2011

Bottom? This can't be the Bottom! Could it?

For the last two years, we (I mean you remaining real estate professionals) have seen a very large picture of real estate that had slowly grown go from a very high, high (too high?) to a

In the last two weeks, I have had several clients -- whom I have done business with in the past -- contact me to help find properties that they can get back to doing their usual business. Now, these clients are NOT tire kickers -- as we all have been seeing for too long now -- theses are genuine clients who had bought property through me and built the property up in the past.

For two (long) years and going, he has been on the sideline (with everyone else) while the economy worked itself out.

I mention this to you because when I sent him a property that is in default and asked if this would make a good acquisition for him and his company, he replied that, "land has fallen low enough for him to get back to doing what they are best at. Buy, build and hold.

O le`!! (OK, we'll see.)

But, with that said, I am becoming more hopeful that the bottom is actually here under us today. So, am I the only one? Anyone else finding buyer activity out there?

For Information about Las Vegas Commercial Investment Property, contact David Howes at:

NAI Black Retained as Property Mgr & Leasing Agents for Rock Pointe Corporate Center

NAI Black has been retained as property manager and leasing agent for the Rock Pointe Corporate Center, a Class A office park with 600,000 SF of office space plus structured parking in Spokane, WA. Thomas Hix, CPM, will be lead property manager for the asset, with Heidi Irvine as co-manager. Jeff Johnson, CCIM SIOR will direct leasing activities with Jeff McGougan and Jon Jeffreys as leasing agents.

If I had $1 Million to invest in Las Vegas Real Estate, it would NOT be in residential

That right, Folks!

If I had $ 1 Million to invest, it would be in a REO commercial property -- right now.

With all the prognosticators saying we are near Depression like declines when it comes to real estate, the amount of over built supply of homes is dragging that market down. And if you have acquired a home to flip or rent, my apologies.  I believe you overspent.

But, with commercial properties, as usual, it's location, location, location.  And, I believe, in my humble opinion, it is also what you should buy right now.

If you are a passive investor who is just looking for income and only care about the quarterly rent check, you need a freestanding building with a strong national or regional tenant.  Fortunately, Las Vegas has about a dozen or so of those properties.  If you are an active, hands on investor and are looking to acquire a property, re-tool it, then flip it or hold long term, Las Vegas has about 20 dozen of those.

And, yes.  Commercial real estate will return to active or positive gains faster than residential real estate.  And the biggest reason will be that the US government has for too long allowed companies to ship jobs overseas.  Which means that job growth in the good ole US of A will be much slower than people realize.  And that means that people won't buy or even keep an existing home when you know that it will be better for you to walk away from your current house situation, and get a cheaper house in two or more years from now after you have found a minimum wage job that barely will pay the bills that remain after your BK.

Yahoo!   WalMart greeter, here I come!  Oh, I have to be 55 or older?

So, if you have $1 Million to invest, I can recommend several Las Vegas properties -- listed with Las Vegas' Real Estate Brokers -- that will fit the bill.

For Information about Las Vegas Commercial Investment Property, contact David Howes at:

It's, "Under Contract!"

Before the holidays -- which I hope everyone had a Happy and Joyful Holiday -- from this miserable excuse of a market...  Sorry.  I digressed.

Let's start over: Before the Holidays, I had been in contact with several Agents listing REO properties.  They were hard up for an offer; and, they had been sending me numerous, unsolicited marketing materials about their bank owned properties (almost) begging for an offer.

Unforunately -- for me -- my clients were/still are on the sidelines waiting for some form of an offical word that the Las Vegas market had hit bottom.  So, getting them to even make a low ball offer is pretty much impossible.

That's when, I realised: "Who are making these offers on these properties that are all of the sudden, they are "off-the-market!" and/or "under contract?"

So, starting today, I started calling all of my buyer/seller contacts.  And, of course, I had to leave them voice mails because (apparently) they haven't returned from their holidays -- yet?

But, as the month of January, 2011 grows, and as it turns into February, 2011, you can be sure that I will be calling them (well, not everyday).  And the reason will be, that IF these Listing Agents are all of the sudden getting properties "under contract" during the actual Holidays; my clients need to step up. 

OR, are these Listing agents really telling the truth?

And the reason I question this is that one of these "under contracts" is from the Listing Agent that had said to me that FDIC would not pay a procuring commission on a property.  It is (probably) most likely NOT under contract because he was upset I called the FDIC to call his bluff.  Hmm.  Time will tell if he's is telling the truth.  (Hint: He lied to me at least once.)

Then, again.  Most real estate agents lie.  So, there is not any questions as to why (lay) people think real estate agents are sleazy.

Also, I received an indirect confirmation of my client telling me about six to eight months ago, that the FDIC, Fannie Mae, and Freddie Mac will in the near future be selling properties at a severe discount.  I read it in a Las Vegas Sun Q & A Article.  Check it out.

For Information about Las Vegas Commercial Investment Property, contact David Howes at: