Here are some recent articles from some of the main-stream media that help cause the constant panic we see here in the Las Vegas real estate market. 

Las Vegas’s bank broken on wheel of fortune – decent article with some good facts, but easy on the Vegas metaphors, champ.  “America’s prime capitalist melting-pot” and “the world’s capital of consumption”???  Also, some good interviews with people on the ground here in Vegas.  Things are tough for sure and when it starts hitting the gaming biz, you know things are getting screwy.

Las Vegas economy looks like busted flush – same author, but this guy needs to slow down a bit.  He is only looking at “some” of the facts.  Remember, this town has only about 8,000+ vacant units.  When those are eaten through, and it won’t take long, there are no new homes being built right now.  There is a demand/supply imbalance coming and it will happen very quickly.  Since we have so many folks moving here every month, inventory will be chomped up quickly when the damn does finally break.

Las Vegas experiences spat of home rage – same author again, Tom Bawden.  Again, this type of stuff is inundating.  I put this information on my blog to help dispel some of the myths that come along with this media stuff.  Mr. Bawden identifies some major commercial projects that have been scrapped to help back up his point.  What everyone needs to remember are the BILLIONS of dollars that are indeed moving forward (e.g. City Center; Fountainbleu; Echelon; Encore; The Plaza; Cosmopolitan; Union Park; and MANY, MANY more.)  Go down to The Strip and see the 150 or so cranes towering over the City and you will know that there are two sides to this story.

It may seem like I am picking on Mr. Bawden here, but I am not.  The mainstream media has taken a very bad situation with many factors leading to this downturn and completely magnifying making it that much worse. 

People I speak with looking for a home here in Las Vegas are so freaking confused right now and they all say the same thing, “the media and the experts are telling us on TV that things are going to get much, much worse.” 

The smart money is starting to jump back in and if you don’t want to miss the front-end of the upswing, you should start looking.  If you are an investor looking for rental properties or flip candidates in Las Vegas, call me 702.400.9986.  This is my cell phone and I can prove to you analytically that we have seen all that is going to happen here.  There are plenty of good deals to be had if you are patient and willing to act.