Real Estate Investment News from NARREIA.com

Some "Good" News

"A Slowing Rate of Decline Equals Good News Phoenix metro real estate prices declined 37 percent in February compared to February 2008, but preliminary data for March and April show that the rate of decline may be slowing. "In this market, that would be considered good news," said real estate professor Karl Guntermann, who compiles the ASU-RSI (Arizona State University-Repeat Sales Index) with research associate Alex Horenstein. Februarys year-over-year dip of 37 percent is up from the 35 percent decline in January and 33 percent in February. But, the preliminary price decline in March is expected to be "virtually the same" as the decline in February, Guntermann said, while esti

Las Vegas Real Estate Market Report: 05/27/09

Las Vegas Real Estate Market Report: 05/27/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

A True Story...

I got a call from one of my favorite customers. He is looking for a fix-up in the Denver area. We went to the house that was on the list I e-mailed him, and it was awful. The front porch was half falling off. The inside was a complete mess, with the most minimal kitchen, trash all over, and clothes strewn all over the floor. The garage was bolted shut, and the paint was falling off most of the house. The basement had an ancient furnace with vents coated with asbestos, and the coating on the basement walls was falling off in a hundred places. We walked out to the back yard, and he exclaimed with a joy in his voice: "It is Perfect!" I broke out in laughter. This can be a very fun bu

Silver Lining

The sales market has been hit hard here in Jacksonville. Prices in many areas have dropped as much as 50%. The only sales of significance are distressed properties selling at distressed prices, creating unrealistic comps and perpetuating lower values. The silver lining in all this is that purchasing rental properties finally makes sense again. For many years I looked for rental properties for myself and my clients, to meet a simple standard; if the monthly rent could equal 2% of the total investment then the property could actually cash flow and give a strong return on investment. Take a typical bread and butter single family home as an example. In this area, these homes were selling for

No Question, Vegas is Starting to Rebound

There is no question, the Las Vegas market has started to rebound, especially in the sub-$300,000 range. Supply has dwindled considerably and continues to do so. Demand, on the other hand, has increased by 250% since the beginning of the year. The trend of the demand curve indicates that the demand will only continue to rise. Market reactions tend to lag what the data shows by a good 3-6 months. Because of this, the trend in pricing continues DOWNWARD. Another interesting aspect of the current market is that with the flood of foreclosures in Las Vegas, it is driving rents upward. Rents have increased approximately $100-$150 over the last year and it is anticipated that there will be a

Las Vegas Real Estate Market Report: 05/20/09

Las Vegas Real Estate Market Report: 05/20/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

Southern Nevada Home Sales Jump 12th Straight Month

I myself have always been of the mind that people have to take responsibility for their own decisions. That being said I would not say the market has bottomed out and you can’t lose by investing now. I would tell you there is plenty of data to be analyzed so intelligent choices can be made. If you were to ask me my personal opinion I would tell you that now may be a good time to buy in Las Vegas. Prices have fallen dramatically, supply has been decreasing and demand is going up. I am attaching a URL to an article that should be read for interesting information pertaining to the Las Vegas real estate market. Copy it and paste it into your browser. http://www.lasvegassun.com/news/2

Things are warming up In Las Vegas!

My last posting was a quick note on how the market is changing here in Vegas. Pretty basic supply/demand stuff. But I think sometimes statistics alone dont translate into the clearest picture of whats really going on right this moment. The statistical perspective is almost always looking backwards. Iv heard it said that "once youve identified the bottom, youve missed it." Now, Im not suggesting that there is only a short window of opportunity here, but that real-life, in the trenches daily information can fine tune the picture. That can translate directly into more profits for you along the way. So how is this information playing out in real life, here on the street? Well, I m

Las Vegas Real Estate Market Report: 05/13/09

Las Vegas Real Estate Market Report: 05/13/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

Want to Buy a MIllion Dollar Home?

Do You? Well, you will not need a million dollars. You can buy a million dollar home in some parts of Colorado for $650,000, maybe $750,000. This part of our market has really been hit hard. There are a number of homes in the Denver that are phenomenal values, with custom and high quality finishes, that are selling for much less than they did two or years ago. Builders are motivated, and as they begin to lose these properties to the banks, they get really motivated. Some of these homes have been on the market for a year or more. The current record that I know of is 4 1/2 years on the market. They exist out of town too, in areas that are not as convenient as the Denver area. T

Dallas-Fort Worth Foreclosure Update

The National Association of Realtors today released info on home sales prices -- the news was essentially what we expected --- bad, bad, and bad. NAR reported a 14% drop in home values. Click here for article: National Association of Realtors Media Release for May 12, 2009

Las Vegas Hits Bottom?

Recent data pulled up from NARREIA shows that pricing in the lower range (sub $300,000) has leveled off for over two months, a first in two years. Demand in this market has risen sharply coinciding with a continued decrease in supply. This shows a major shift in the trends of all data criteria and is likely indicating the bottom that weve been looking for. Email me for a free comprehensive report of all the data from the last three years.

Investors...again!

Been there, done that! If you are a real estate investor in Arizona, there is a VERY good chance that you bought, or thought about buying, investment property in Queen Creek during 2004-2007. Well, now the market is very different and there is a different type of investor who is picking up rentals in the area- those who are long term investors. The short term investors who jumped in and then fled the market when things got rough, have created a buying opportunity for long term investors- foreclosures. Ive written about the amazing pricing in these former growth areas- Queen Creek, City of Maricopa, Avondale, etc.- and now I have to let you all know that the homes under $100,00

Las Vegas Real Estate Market Report: 05/06/09

Las Vegas Real Estate Market Report: 05/06/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

Las Vegas Real Estate Market Report: 04/29/09

Las Vegas Real Estate Market Report: 04/29/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

San Antonio economy good; so is market

From the Texas Real Estate Research Center comes this update on San Antonios job market: Rich diversity and the resilient businesses that dominate the San Antonio economic landscape have combined to create an unspectacular but dependable job market that is expected to prove its value again this year. That doesn’t mean the area is likely to add jobs in 2009 as the recession continues to sap economies worldwide. But job losses are expected to be smaller - at times much smaller - than other areas. “I see San Antonio as one of the strongest cities,” said Eugenio J. Alemán, a senior economist with Wells Fargo. “It’s not going to be doing great, but it won’t do as badly as t

RALEIGH: Holding Steady and Cash Flowing

Raleigh Investment Real Estate (Quads, Duplexes, Triplexes, etc), properties that have established income track records are holding steady. Why? Our prices are entirely based on the yields. They are offering investors good quality positive cash flow scenarios. At our firm we have maintained a position of seeking out the fundamentals. As we say "its about the numbers". We have had some REO & Short Sale opportunities, but it is quite rare in the multifamily category and quite frankly were not wasting our time looking for those. We remain buyers and with our low vacancy rates and increasing rents. These properties remain strong investment candidates. Yes Single Family Homes that h

The stimulus package is working. Is that a good thing?

In the Denver area the $8,000 tax credit for first time buyers is working. Almost all of the properties under $300,000 are seeing a surge in activity, and people are buying. They are buying because they are taking advantage of the $8,000 tax credit. That is a big incentive for first time buyers. My worry is that it is another artificial reason to buy a home. This incentive will go away on Dec. 31, 2009, and we will be back to normal. There will be no incentive, or the government will be forced to create another one. All of these remedies are artificial, and forget the one obvious fact that we all need to consider: Without a strong job market the real estate market will not improve in a

Las Vegas Real Estate Market Report: 04/22/09

Las Vegas Real Estate Market Report: 04/22/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

How to get out of this mess?

Great article: http://recenter.tamu.edu/pdf/1903.pdf

AZ: 1999 Prices

Well, once again, a new report that real estate investors in Arizona will find interesting. Great news for buyers, dismal news for sellers. "Malaise in the economy is slowing down the arrival of relief for Phoenix real estate and lengthening what is already a record-breaking run of declining prices, according to an analysis of the Arizona State University-Repeat Sales Index (ASU-RSI). The index reports that home prices in the metro-Phoenix area dropped 33 percent in 2008. In January and February prices are projected to drop even more, with the year-over-year comparison showing declines of 35 and 36 percent respectively. Prices have been declining for 22 months now, exceeding the pr

Las Vegas Real Estate Market Report: 04/15/09

Las Vegas Real Estate Market Report: 04/15/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

AZ resale market update

If you are a real estate investor who is thinking of buying investment property, this report will be of interest to you. "There were 8,610 resale homes recorded sold in March 2009, while there were 8,510 recorded sales in February and 5,320 sales for a year ago. Foreclosure activity in March 2009 represented 31 percent (2,670 transactions), while there were 5,940 traditional market transactions. Foreclosure activity, as a share of total activity, is down significantly from the 51 percent (4,295 recordings) in February 2009. The slowdown can primarily be attributed to the various hiatus programs that lenders instituted, while awaiting the new loan modification and refinancing program

Las Vegas Real Estate Market Report: 04/08/09

Las Vegas Real Estate Market Report: 04/08/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

Buying in AZ. Yes, Buying!!

First of all, if any NARREIA members have been emailing me, please be sure to call to make sure that you were not SPAMBlocked. And, the reverse is true...I have several inquiries from NARREIA members who only gave me their email w/o phone # and Ive sent responses but havent heard back so I may have been SPAMBlocked also! Ok, now for interesting news for Arizona real estate investors courtesy of the Phoenix Business Journal: "Scottsdale firm plans $94M real estate buying spree" Laguna Pacific Cos., a Scottsdale-based real estate development company, plans a $94 million shopping spree of residential land in Arizona, California and Nevada, with company officials expecting an upsw

Las Vegas Real Estate Market Report: 04/01/09

Las Vegas Real Estate Market Report: 04/01/09 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (

RALEIGH: A Safe Harbor

Dear Investors, We have just listed several duplexes in the Raleigh and Cary area. This is an area that according to the most recent census data: http://www.newsobserver.com/news/growth/census/story/1449012.html is FAR outpacing any other metropolitan area in the US. The numbers show a 4.3% growth rate from July 2007 to July 2008. The Raleigh growth rate is 13% better than any other place in the nation, including #2! Money Magazine is suggesting that Raleigh is poised to be 1 of the first out of the gate as well in its latest issue. Just yesterday, Forbes again ranked Raleigh as #1 in the nation for business and careers(3 years running!!). http://www.forbes.com/2009/03/25/bes

The Real Estate Market in Denver.

Here is an overview. Monday I am going to show a young buyer some Condos. The first two are near the airport, in a really nice neighborhood. They are only five years old, and they are both in great condition. They sold in 2005 for $142,000 each. They are now on the market for $85,000, and the are beautiful. They each have 2 bedrooms and two baths, and one has vaulted ceilings. The same is true for the condos that I am going to show to him later on Monday. You cannot tell me that these were all bad loans back in 2005. You cannot tell me that every one of these was a "B" loan which was made with bad credit and a false appraisal. It is not possible. These were expensive condos to

San Antonio gets more people

Ten of the top 25 fastest growing counties in the US are in Texas. This comes from an analysis of the U.S. Census report for the period between July 2007 and July 2008 by the Capital Area Council of Governments. That’s more than any other state. California had six of the top 25 fastest growing counties. Arizona and North Carolina each listed two. Bexar County, in which the San Antonio MSA is located, ranked #10 on the list for new residents. People keep moving to San Antonio because the economy (and the climate) is better here than in much of the US. Military families, students and interns at the South Texas Medical Center, retirees, and job seekers relocate to San Antonio. Fo

Interested in Pinal County?

Pinal County was, and IS, a hotbed of real estate investor activity. Want a 4 bed, 2.5 bath with pool for $80,000 and are willing to do some work on it? Then look in Pinal County! Here is some current information on Pinal County: Pinal County resale housing prices continued to drop in fourth quarter 2008 MESA, Ariz. — In the fourth quarter 2008, of the 2,850 recorded resale transactions in Pinal County, 1,240 or 44 percent were foreclosures. For the third quarter, there were 1,515 foreclosures or 45 percent of the 3,355 recorded transactions. Although recorded foreclosure activity slowed in the fourth quarter, it still represented a dominate segment such as a 50 perc

NARREIA Client Rich Warren featured in Article

NARREIA is thrilled that one of its investors has been featured in an article on BiggerPockets.com. Rich Warren is a Las Vegas based investor who focuses on rehabs. Rich is an experienced rehabber, and the article highlights the trials and tribulations of his rehabbing career. About two years ago, NARREIA caught wind of the activity in Ely, Nevada. The population surrounding Ely is only about 8,500, but there was a lot of economic growth taking place. A mine had recently reopened, backed by one of the largest mining companies in the US. Several prisions are in the area, which provides for numerous jobs. Two new coal burning power plants are being built, and near by one of the largest natu

NARREIA Mentioned on PBS

NARREIA was mentioned on PBS recently. When we Googled it, we found reference to Eddie Daroza, who had mentioned us in an article on eFinanceDirectory.com. Click here: NARREIA on PBS

NARREIA's Sean Brown featured in Econoplay Article

NARREIAs Sean Brown was featured in an article by Econoplays Gary Rosenberger: Brokers: As Home Buying Gives Way to Renting, Rent Hikes Curiously Tame Rents Rising by 3% to 5%; Concessions Vanishing Demand Outpaces Supply, Hard to Convert Condos Back to Rentals Hopes for Bigger Rent Increases in Distant Horizon, But Nothing Yet By Gary Rosenberger NEW YORK (EconoPlay) April 10 – Weak new home sales and the subprime mortgage blowout have reinvigorated a once-soft rental market – yet rent increases remain tame nationally, including in areas hit hardest by the housing slump, brokers and landlords say. Every foreclosure and every new loan restriction adds to the

NARREIA's Home REIA (Las Vegas)

Glenn Plantone of National New Builds started up the Millionaires Real Estate Investment Club (MREIC) in Las Vegas, and we at NARREIA quickly adopted it as our "Home REIA." MREIC is not a part of NARREIA, but many of our members attend this outstanding Real Estate Investment Association (REIA). We frequently present local and national market conditions during the meetings, and we do some serious networking before, during, and after the meeting. There are many investment opportunites for real estate investors to consider, and the two hour meeting is well balanced with great educational and informational segments. The club usually meets the second Wednesday of the month, but to be sure abo

NARREIA and Advisors Tiffany Elder, Cynthia Leggitt Featured in REALTOR Magazine

NARREIA and our Advisor Tiffany Elder were featured in the cover story for the September issue of REALTOR magazine entitled "Full Spectrum Real Estate." It is an in-depth look at real estate investment from the Realtors perspective. Clearly, not all real estate agents are properly prepared to work with investors, and this article shows the lengths some Realtors go to to provide the best service for their investor clients. For those familiar with NARREIA, you know that we seek the cream of the crop of this group to provide a one-stop-shop for the investor. NARREIA thanks REALTOR magazine editor Mariwyn Evans for her effort in providing a good look at what it takes for a Realtor to bes

NARREIA Advisor Brian Casebolt featured in Growing Wealth Magazine

One of our senior Advisors, Brian Casebolt of Dallas, was featured in Growing Wealth Magazine. Click here f

NARREIA Member Rich Warren Publishes Book on Rehabbing

One of NARREIAs most prominent members, Rich Warren, has published a book on rehabbing. Rich has been with NARREIA almost from be beginning and he cites NARREIA as a major influence on his work in Ely, Nevada. Richs ties with NARREIA are so strong that he had NARREIA CEO Sean Brown write the forward. The book also features Tamara Bostrom, another NARREIA member, and her recent rehab project in Las Vegas. The official press release for the book is included below. Congrats, Rich! *************************************** (Las Vegas, NV, March 1, 2008)— iUniverse, Inc., the leading provider of publishing technology solutions for authors, announced today that A Rehabber’s Tale, T

PRESS RELEASE: Ely, NV Boomtown

Note: This press release was picked up by Elys main newspaper and printed May 5, 2006, on the front page of The Ely Times

Western North Carolina Teleconference FREE: May 1, 2006
Peter Celnicker will be holding a FREE 35 conference call on Monday, May 1st, at 6 pm Pacific Time (9 pm EST). The focus of the call will be the booming Western North Carolina market and opportunities to purchase land for as little as 5% down and have the option to go 18 months without a mortgage payment. The Developer of the $500M project will be on the call and there will be an exclusive inventory of lots available just for the call participants. There is no obligation to attend the call, even if you just want to learn about the real estate market. The phone number is 1-800-377-8846, and the access code is 64459857 followed by the # sign. Please email petercelnicker@yahoo.com or call

Boise Conference Call FREE: March 8, 2006
Lyndon Holdeman, NARREIA Advisor for the Boise Idaho area, held a FREE 30 minute conference call on Wednesday, March 8th, at 4:00 PM EST/ 1:00 PM PST. Click here to listen to the conference call.

Contact Info
Contact Info: National Association of Residential Real Estate Investment Advisors (NARREIA) 702-944-8783 (phone/fax) Las Vegas, NV