Former Secretary of the Treasury, Henry Paulson recently gave the nation some “tough love” about our home foreclosure mess that echos what we’ve been saying via our Blog, PR and on the phone with clients. Yes, it’s a tough market and the economy is not roaring along like China’s – but all things considered, it’s not as bad as the national media would have you believe.
Paulson said “foreclosures are a fact of life and they happen in large number even when the economy is doing great – they are especially high now due to problems homeowners are experiencing and lenders have also helped to contribute to the mess……”
Paulson used his speech to punch holes in the “chicken little school of thought” permeating the national Zeitgeist (read: fear based) – “that the housing market is in deep trouble nationwide and that more importantly, people are forgetting the national US real estate market is comprised of highly localized sub markets down to neighborhood level that often perform starkly different than the national headlines might suggest!” (our exclamation point)
Soapbox time – what national editor on a real estate desk is telling their reporters to get out in the field and find some good news about the real estate industry? None, Zero, Zilch, Nada – it’s a lot easier to park that cute twenty something reporter in front of a Foreclosure sign and have he or she perkily explain how bad things are in a two minute sound bite.
We’ve been beating the drum for months about the Las Vegas Market having its own distinct flavor from the rest of the country. We have different market dynamics than Florida, California, Michigan, and/or Ohio – our business Ecosystem is driven by huge construction projects already under development; our sales are increasing, listing inventory is dropping and we are an international getaway destination supported by a cheap US dollar – “sin city” (speaking candidly) sounds like fun to a lot of people around the world and translates easily in many languages……….
So, come on out – we have some great Las Vegas Foreclosure Deals and we’ll even throw in a nice dinner at the Wynn for you to close the deal………..
