Residential Real Estate

As the economy turns here in Las Vegas, I am still writing offers for purchase and (so far) one for lease. 

The problem I am running into (and I can only assume that you are too) is that Sellers are being tough as nails refusing to reduce the price of their poor real estate investment.  And, the Buyers are still gringing out low ball offers where they think that Las Vegas is doing sooo badly that they feel the Sellers should be thankful they are offering such low ball offers.  (Sic.)

So, that leaves me stuck in this crazy cycle of trying my hardest to get the Sellers to accept a less than top dollar amount; and, also trying to get the Buyers to forget what the national media is saying and focus on the benefits of the property and up their offer.

The good thing about this situation is that more Buyers are tire kicking and Sellers (who can) are hanging in there.  Most properties that were well over spent for just three years ago or more, are already foreclosed upon.  (And, I really don't think too many are selling even though I keep hearing about properties "Under Contract.")

The bad part of this is that I haven't placed a property "Under Contract."  The good thing is that soon I will have a property Under Contract." So, I am fighting to the finish here.

For the life of me, I can't remember who said the quote: "It isn't how many times you get up after being knocked down, it's that you keep getting up."  Or something like that.

Can anyone help me out on this?

For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net

It is hard for me to be optimistic when we have been living in an era of pessimism.  It really is a lot easier to join the pessimistic crowd right now.

But last Friday, I wrote two offers for two properties.  And, today about five days later, I am waiting to hear as to whether or not I get client approval to write a third.  But, through this immediate success, I still feel as if I should remain pessimistic about the future. 

The problem, I am noticing more and more, is that commercial real estate brokers are combining their forces.  One would close their shop to hang their license with another broker.  Is that going to happen to me?

Two years ago, I decided giving 50% of my earnings from my hard work for a greedy broker was idiotic.  Then, again, as I progressed through deals, I didn't spend all my money on luxury cars or homes.  (Even though it is becoming more evident that buying a rental is the most likely thing I should be doing.)  But with cutting back and saving as much as possible, I have a strong feeling that at least one of the offers recently written will earn me enough to keep going at least a few more years -- if it takes that long.

My problem has always been: I believe in telling clients the truth about real estate.  And I do so whether or not it hurts their feelings, or it kills a sale, or I would lose a commission.  The upside has been: my clients have stayed with me.  And, since I believe in keeping them informed about good and bad changes in the Las Vegas real estate market, they are the ones calling to ask me to write offers on properties I think are to their best interest.  Yeah!  (Sorry.  I need to praise myself more.)

So, I want more.  That is, I want to write more offers.  Oh, if you want me to write an offer for a property, I will help you.  But, I am NOT a Yes! Man.  I will write the offer -- if it is in your best interest.

So, in conclusion, I think I'll stay striving forward.  Optimism is just out of reach.  But, I'll get there.

P.S.: For examples of properties that were bought without the Buyer's best interest in mind, just read the papers.  They are all over the place.

For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net