Brookfield Residential Property Services a subsidiary of Brookfield Asset Management group of Toronto has bought Prudential Real Estate and Relocation Services. The deal is valued at $110M excluding transactional costs.
With brisk sales, low inventory (yes, the press generally misinforms the public about Las Vegas’ home inventory) Las Vegas is poised for a turnaround.
See article from yesterday, here:
According to the Las Vegas Sun
WestJet, which brought 873,801 passengers to Las Vegas in the 12-month period that ended July 31, has increased its flights 18% over the year prior.
A rundown of the cities, frequencies and schedule of service for the eight WestJet destinations:
Victoria, British Columbia. Flights began operating three times a week — Tuesdays, Thursdays and Sundays — through November and will revert to twice weekly Thursdays and Sundays December through April 26.
Saskatoon, Saskatchewan. Wednesday and Saturday flights run Sept. 7 through April 28.
Ottawa, Ontario. Thursday and Sunday flights will run Sept. 8 through April 26.
Hamilton, Ontario. Monday and Friday flights will operate Sept. 9 through Nov. 28.
Regina, Saskatchewan. Monday and Friday flights will operate Sept. 9 through April 27.
Prince George, British Columbia. Wednesday and Saturday service will run Sept. 10 through Nov. 26.
Kelowna, British Columbia. Tuesday and Saturday flights will run Sept. 9 through April 28.
London, Ontario. Thursday and Sunday service will operate Oct. 30 through April 26.
This means more convenient flights for my Canadian clients to buy houses and commercial properties in Las Vegas.
Full Article here
Darren Walsh, legal counsel, to my company explains how the bill that came into effect today will affect 2nd/Jr. lien holders’ rights to sue. A big win for the consumers. A special thanks to my broker, Heidi Kasama who helped spearhead the bill!
Take a look at the commentary at Darren’s blog: http://ameglegal.wordpress.com/2011/06/17/short-sale-junior-lien-holder-rights-other-changes/
|John A. Brassner|
Nearby properties for sale
From DigTriad.com / WFMY 2 News
“Shadow inventory” are properties that are either foreclosed on or are expected to be soon and are not on the market yet. Investors often ask me about the “huge shadow inventory” looming in Las Vegas which they believe will some day flood the market. My response is, don’t always believe what you read on the investment blogs. I’ve checked and double-checked and couldn’t find much evidence of banks holding on to Las Vegas / Clark county inventory. I specifically asked Wells Fargo to confirm their previous statement that they are not holding back on releasing inventory. A spokesman replied, “That’s correct. It’s not beneficial for us to do so. We want to get the asset sold.”
Well, now the statistics bear that out. The National Association of Realtors just released their “Las Vegas-Paradise Area Local Market Report, First Quarter 2011″ So you might think that Las Vegas is in the top three states with the most shadow inventory. Or maybe, top ten? How about the truth: LAST. Las Vegas has the LEAST AMOUNT OF inventory off the market in terms of months supply. Here is the list: