community stories for southern Nevada

News Clippings

Decline of home prices slowing…

…and it seems that real estate oracles throughout the Las Vegas valley are becoming cagey and moderate in their market predictions.

We’ve heard over and over that home prices have “hit bottom”, when it’s now painfully clear that no one really knows what “bottom” is. Think those in the business of peddling advice have learned any lessons? Check out the padded prediction here: 

The chances are growing less likely that Las Vegas median home prices will fall to $100,000, according to a Las Vegas housing analyst.

But no one should expect prices to shoot up anytime soon despite a lack of inventory, said Larry Murphy, president of SalesTraq, a housing research firm.

“It appears prices have stopped falling,” Murphy said. “It’s possible that prices could fall further and hit $100,000 by the end of the year, but I don’t think that will happen.”

But no one should expect prices to shoot up anytime soon despite a lack of inventory, said Larry Murphy, president of SalesTraq, a housing research firm.
“It appears prices have stopped falling,” Murphy said. “It’s possible that prices could fall further and hit $100,000 by the end of the year, but I don’t think that will happen.”

This, snipped from an Aug. 3, 2009 article from the Las Vegas Sun. And a recent State of Nevada conversation on real estate prices:

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Hispanics hardest hit by unemployment

Here’s a link to an article in the RJG….


Nevada Development Authority mining the Golden State

Check out the latest attempt to attract business to southern Nevada:

Las Vegas’ mayor Oscar Goodman predicts the ads are, “…going to drive them (Californians) bonkers. This campaign is very Las Vegas.” It sure is a nasty one. Here a clip from the Las Vegas Sun article:

“The campaign, developed by Las Vegas-based Shonkwiler Partners, incorporates two basic themes, an apple-to-apple comparison of California and Nevada business climate in which the California apple shrivels and rots and another that compares the effects of California legislation on businesses to the shenanigans of a monkey. The ads incorporate the tagline “Kiss your assets goodbye.”

Apparently, this is supposed to drive businesses from California to Las Vegas in droves…. But we still must ask: If Californian businessmen and women are used to cultural amenities, what will they think about relocating to what is essentially a dead zone of  underperforming schools, underfunded social programs, and neighborhoods in a state of collapse?