My Blog

I feel like the only one out there screaming at the top of my lungs to BUY IN LAS VEGAS!  The Las Vegas media, not to mention the national media, has done a great job of scaring the hell out of everyone even considering buying a home.  Is it really necessary for the RJ to feature some "doom and gloom housing scenario" everday?  It seems so.  They can't get enough of it.  Nevertheless the opportunities we have today represent the BEST opportunity we have had in the past 4 years to get a home at an attractive interest rate AND a great price!  Take advantage of this buying opportunity.  If you are renting you can continue to pad the pockets of Camden Properties and the like or take advantage of the mortgage interest deduction AND get equity at the same time. 

People ask me everday have we reached the so-called "bottom"?  Heck I don't know and you know what?  Neither does any of the so-called experts that generate more sound bytes in a day than any of us can handle.  The reality is if you want a house in Las Vegas and CAN afford a house you have a great opportunity to really get WHAT you want at the price YOU want!  I say that's a win-win for everyone.

If you are a Las Vegas homeowner now or contemplating buying remember this analogy my dad once told me.  Bulls and bears make money - pigs get slaughtered.  Just a few years from now many will wonder why they didn't take advantage of the opportunity.  Consistent growth will net you great returns.  Don't BE GREEDY!!!!!

Let me hear your thoughts.....

First of all let me say I have agonized for literally months about what to say.  The national media is doing a great job of preaching "gloom and doom" for not only Las Vegas but the entire country.  In addition to that you've got housing doom related websites doing the same to further create mass hysteria in the market.  The reality is everyone has to have a place to live.  Housing is, and will always be, a huge component of the national economy.  Does everyone have to own their own home?  No!  Does everyone have the "right" to own a home?  No!  Is home ownership right for everyone?  No!  Home ownership is not an entitlement and should be taken very seriously.  Home ownerhsip is earned! 

Everyone now wants to blame their mortgage broker or their real estate agent.  I guess if your losing the roof above your head you have to blame someone right?  Of course it has nothing to do with your poor financial decisions, nothing to do with your financial irresponsibility and nothing to do with your unwillingness to accept what you can afford.  God forbid you actually take responsiblity for yourself! 

I have been to many real estate closings and have NEVER witnessed a loan officer, mortgage broker, escrow agent or a real estate agent forcing the buyer to sign those documents.  No guns were used, no alcohol was served and the buyer still signed!

I am not saying bad things don't happen to good people.  There are personal disasters that occur in families everyday.  Loss of job, loss of life, illness, all of those things are understandable because that's life.  What is NOT acceptable is you getting the teaser rate for a period of time, further damaging your credit with those new cars in the driveway and the house full of new furniture bought on credit when whining about your rate adjusting when all you had to do was refi into a fixed rate!  I have little tolerance for those whiners. 

I think this mortgage meltdown is LONG overdue!  We haven't seen the tip of the iceberg.  Let me hear your thoughts...