Las Vegas Real Estate News

The panic that the Federal Reserve showed today regarding the meltdown of the derivative markets was evident as they dramatically lowered rates again after they lowered rates last week by an unprecedented 75 basis points.  Helicopter Ben Bernanke is at it again.  He is disregarding inflation with current monetary growth of over 15% per annum, throwing additional money at a credit crunch crisis that needs time, at least several years, in our opinion, to play itself out and heal itself correctly.  The Fed is placating Wall Street where both the Federal Reserve and Wall Street are co-conspirators of the mess we find ourselves in today.  No inflation? Anybody pay their insurance premiums lately, pay for college tuition, go to a restaurant lately, pay for medical care - have you've seen lower prices? Anybody go shopping for food or gasoline lately? Oh, I forgot - those 2 items are not included in the inflation numbers the Federal government spews out each month.

 What the Fed has done is devalue the dollar again, and in their statement today, they said there were further risks to the downside, which means that more interest rate cuts are probably on the way.  Every American's wealth is at stake here, right now.  We are at a critical moment in our nation's financial well-being, in our individual personal wealth and the destruction of it.   There was a reason why Ben Bernanke was chosen to replace Bubble Alan Greenspan as Fed Chairman.  He wrote in an article that he would fly in a helicopter and drop money to solve financial problems - that's where he got his nickname. 

The Bush Administration knew they had a major financial problem because of the huge deficits they were accumulating to fight the War on Terror, so they chose Helicopter Ben to replace Bubble Alan Greenspan.  Helicopter Ben was not a current member of the Federal Reserve when he was chosen, but was in the academic field - you know - those guys who sit in universities and write papers all day long about how they're going to save the world.  Well - Helicopter Ben is dropping money all right and our wealth is being destroyed just to keep Wall Street in the business of selling worthless subprime paper and other worthless junk paper such as CDO's, SIV's, and other exotic derivative paper which by the way add up to an astonishing and amazing $500 trillion dollars.  You heard it right - $500 trillion dollars with a capital T.  What was the market action on Wall Street's today regarding the Fed's panic?  The Dow Jones average rose by about 160-170 points on the news and then dropped like a leaf to close down around 40 points.  

The Federal Reserve, having gone from one bubble to another these past 8 years and losing ground rapidly to the real estate bubble has only 1 card left to play.  It's to protect the stock market and Wall Street at all costs.  Forget about inflation, forget about Main Street people who require a decent interest yield on their savings to get by.  It's full steam ahead.  We need to save Wall Street - the folks who got us into this worldwide credit debacle we now face. How ironic it seems that the Secretary of the Treasury, by the way, the third Treasury Secretary of the current White House administration, is the former Chairman of Goldman Sachs.  Wasn't it curious to anyone why Goldman Sachs didn't lose much money on the sub-prime mess that all other Wall Street firms and banks from around the world lost multiple billions of dollars and continue to do so?  UBS, the largest Swiss banker, just wrote off a measly $12 billion in sub-prime junk paper today.  As Goldman was selling this worthless junk sub-prime paper, CDO's  (collateralized debt obligations), and SIV's (structured investment vehicles) - don't you just love those names Wall Street makes up for this paper, to other financial institutions around the world, they were shorting the paper they were selling.   That is, Goldman was betting that the sub-prime paper, CDO's and SIV's would go down in value and they would handsomely profit from it, which they did to the tune of billions of dollars.  Anyone think they have a hotline into the Treasury Department where the current Secretary is the former Goldman Sachs Chairman? 

Anyone think the game is fair out there?   If anyone was watching the commentary today on Bloomberg News regarding the Fed's decision, there was discussion regarding the fact that interest rates are now below the rate of inflation.  Well, that's inflationary, my friends.  And there was talk that we may stave off formal recession this year, due to lower interest rates and the $150 billion stimulus package, which by the way will put us further into debt.  It is our opinion that the stimulus package is like taking aspirin to cure pneumonia.  It is a bogus one-shot deal that will help for 1-2 months and won't cure anything.   Formal recession is when we have 2 quarters in a row of declining production or growth, but we all know the housing, banking, mortgage, automobile, retail, and other industries are already in recession (beyond the 2 quarters of negative growth for these industries) - it's just a formality when we get the "real" negative growth figures from the "always truthful federal government ". 

The scary part of the Bloomberg discussion was that the analysts see a bad recession hitting us in 2009.  And that in order to stave this off, they feel that the Federal Reserve may have to go back to 1% interest rates and some were saying that we may even see 0% interest rates.    

So how does all of the above affect the Las Vegas High Rise Market and real estate in general?  The Stark Team feels very strongly that the economic forces being thrust upon us now will have far-reaching ramifications for property owners.   The Stark Team is now advising those who want to sell their Las Vegas High Rise real estate to be extremely realistic about the price you will receive when you attempt to sell your unit.  Sellers will not get 2007-2008 prices for their high rises.  Expect 2004-2005 prices.  If you're a seller, you need to be very aggressive about pricing your unit correctly in order to get any bids, and if you don't want to accept this fact, then you will have to sit tight on your high rise for a number of years, service the debt, or rent out your unit. 

The Stark Team, the leading High Rise real estate agents in Las Vegas has lived in here for over 35 years and has over 30 combined years of selling and investing in the Las Vegas real estate market.  We are recognized by the  Who's Who oin Luxury Real Estate in the United States.   We have experienced the down cycles and boy are we in one right now. 

As a seller or buyer of real estate, you need to have someone represent you who has gone through these cycles, who understands the nature of the current market, who understands the forces that you face when attempting to sell your Las Vegas High Rise.  When choosing a broker/realtor - ask them one simple question - how long have you been a realtor and when did you get your license? 

We have many units available for sale that we consider bargains in our inventory.  You must be a Condo Predator (tm) today to take advantage of the bargains to be had in the Las Vegas High Rise market.  The Stark Team can help you find your dream high rise, but only at the right bargain price.  Let us work for you and show you the deals.  The Stark Team is known as the DealMakers(tm).  

Sellers need to know the stats and facts about their particular high rise building, that is, the number of units available for sale, the number of units sold, the prices that the units are sellling for, the rents you are likely to get for your high rise unit, and the forces you face in selling you unit.  The Stark Team will tell you the truth.  You may not want to hear it, it may not be pretty, but then again we won't beat around the bush to earn your business.  The Stark Team is here to help you.   

Folks, we are in very different times.  We have an election coming up.  The Federal Reserve is out of control.  Wall Street institutions and foreign banks are reeling from this massive credit crunch we're in.  The Federal Reserve has now devalued our dollar further and has now hit our pocketbooks by lowering the yields we earn on our saved money.  The Stark Team is here to help both the buyers and sellers of Las Vegas High Rises.  We will be forthright with you.  Just straight talk.  

Please visit us at LasVegasCondoBargains.com or  LasVegasCondoExperts.com as we always update our inventory of Las Vegas High Rise bargain units.