Kirk Sanford News

Community leaders are hopeful that the depth of the recent economic crisis in Las Vegas and Southern Nevada will motivate politicians and local government to finally take steps to assure that the economy begins the crucial, stabilizing move to diversification.

The Lied Institute for Real Estate Studies, an affiliate of the University of Las Vegas, presented a report based on the opinions of 70 local businessmen, politicians and academics. There was no question, according to the experts, that the road to diversification is the road that is needed to be taken.

It was noted that the Las Vegas Convention and Visitors Authority spends about $90 million each year to promote the resort industry all over the world, but the Nevada Economic Development Commission only spends about $6 million each year attracting businesses to the area.

Kirk Sanford is one of those rooted and invested in the strength of the economy of Las Vegas and its surrounding areas. As an investor in real estate in Southern Nevada, it would benefit Kirk Sanford along with other local businesses for the economy in the region to weather the storms of economic crisis with stability and resilience.

According to the opinion of 70 leaders in the community of Las Vegas and Southern Nevada, economic diversification is an idea whose time has finally come to the area.

In a report entitled “What Happened? What’s Next? Can We Hit the Reset Button?” academics, business leaders and politicians expressed their views, coming on strong on the side of diversification as a stabilizing factor in the health of the economy.

The report was conducted by the Lied Institute of Real Estate Studies, which is part of the University of Las Vegas. The bad news is that in order to get to the goal of a healthily diversified economy, more money must be spent, especially on public education K-12 and higher education, too. Why is improved education so crucial? According to John Restrepo the principal of a consulting group, in order to attract a larger variety of businesses into the area there must be a higher quality workforce available to fill the positions new businesses would create.

As a member of the business community in Las Vegas and Southern Nevada, Kirk Sanford would certainly like to see greater diversification and stability in the local economy as well as a strong recovery nationwide.

According to the Lied Institute for Real Estate Studies, which recently conducted a study based on the opinions and observations of leaders in the community of Las Vegas, diversification is the best way for the economy to cope with economic crisis in the future.

As a result of the recent collapse of the local economy in Las Vegas 70 of Southern Nevada’s business leaders, politicians and academics took another look at an idea that isn’t new, diversification of the economy.

Because the economy of Southern Nevada relies heavily on industries that rely mostly on growth-fueled industries such as construction and real estate, aside from the vulnerable industries of gaming and tourism, when the national economy staggers, Southern Nevada falls.
Relieving the pressure on these industries to provide the engine for the financial well-being of the region would be accomplished by and expansion of industry into less vulnerable areas, therefore diversification is a key goal for the future health of the Southern Nevada and Las Vegas economies.

This would be good news for all segments of the Las Vegas economy, including real estate investors such as Kirk Sanford, whose Sightline Acquisition Corporation invests in distressed properties in the area of Las Vegas and Southern Nevada.

2010 should be a good year for potential home buyers. Obama has recently signed legislation that extends a first time home buyers tax credit. It gives both new and move-up buyers a tax incentive to buy a home until at least April 20, 2010, and even longer for military personnel.

In a depressed economy, companies like Sightline Acquisition Corp, with CEO Kirk Sanford, have been working to pump money into the economy by buying properties. Kirk Sanford chairs this privately held investment fund that specifically looks to acquire distressed properties and other assets.

This new tax law extends the credit for first-time homebuyers which is worth up to $8000. Even existing homeowners can cash in on this legislation. A new credit of up to $6500 is available to existing homeowners who qualify. This is for those who either buy a new primary residence or have one built by April 20, 2010. They have to already have their existing property for five consecutive years of the last eight years.

As part of many people’s New Year’s resolutions, you can add home buying to the list. 18% of Americans, according to a survey on Move.com, say that they are ready to become first-time homebuyers in 2010. With mortgage rates at a record low and prices down a great deal, this is, undoubtedly, a smart move.

Kirk Sanford, the Chairman and CEO of Sightline Acquisition Corp, is certainly looking ahead to the market in 2010. Sanford and Sightline Acquisition Corp specialize in acquiring distressed property in Las Vegas. At the moment, Vegas is the perfect location for their ventures due to its rapid population growth, its mature market statistics, and its present low prices for real estate.

In addition to home buying, many people say that they want to start home improvements in 2010. Nearly 40% of those surveyed said that they home to start home improvements and they hope to use cheap home equity money to do the job.

Kirk Sanford and his family preside over eight acres of premium wine-growing land in the world renowned Napa Valley of Northern California. On this perfectly situated vineyard, Valley View Vineyards, the Sanford family produce the most magnificent wine in a limited edition which is never sold. All the wine produced by the Sanford Family is either consumed themselves, or given to friends or gifted to charitable causes and events in the surrounding Napa Valley vicinity. Any grapes which are not used in the production of the Sanford’s own special label is sold to other boutique winemakers for them to create their own distinct and flavorful wine.

Only the Sanford’s second release, the grapes for the 2004 Vintage Estate were handpicked after growing and ripening in the volcanic soil, exposed to the cool, clear summer mornings and warm, sunny Northern California afternoons. The 2004 release is a unique, rich and textured blend of 71% Cabernet Sauvignon, 19% Cabernet Franc, and just 10% Petit Verdot for that intense addition of tannin, color and flavor which makes the Sanford limited edition such a special experience.

In the beautiful, serene Napa Valley in Northern California, Kirk Sanford operates his family’s boutique winery well known for its distinct and richly textured wines. Situated on eight lovely acres of some of the world’s best wine country, Valley View Vineyards is located among the many incredible wineries in the Coombsville region of Northern California, in the heart of the renowned Napa Valley Wine District.

Kirk Sanford’s family’s winery has what it takes to produce the perfect grapes which make up their outstanding wine selection. Cool mornings, bright, warm sunshine in the afternoons, volcanic ash-rich soil, all come together to create the perfect growing environment for the most outstanding grape harvest. Surrounding the Valley View Winery are some of the most distinguished boutique wineries, bringing forth, along with Kirk Sanford and his Valley View Vineyard, some of the most delectable, high-end, extraordinary wines that can be found anywhere.

Ideally situated just a few hundred feet above the floor of the Napa Valley is Valley View Vineyards. This extraordinary boutique winery owned and run by Kirk Sanford and his family, produces choice wines with unique flavors and rich textures, especially created for enjoyment on their own or to compliment and round out a good meal to make it a great culinary experience.

The tastes the Sanford Family strives for in their wines are influenced by the types of wines that they themselves enjoy. The wonderful bouquets, intense richness, deep, clear colors all come together to create a special, flavorful experience transcending the experience of drinking other wines.

CityCenter, Las Vegas

Kirk Sanford of Sightline Acquisition Corporation and other businessmen in the Las Vegas region are hoping that the distressed Las Vegas economy will experience a big boost today as approximately 12,000 people will be appointed to various posts at the CityCenter project.

This new development has been in the works for about four years, and at 18 million square feet and a cost of $8.5 billion the sprawling CityCenter is the largest commercial real estate project in the United States.

Owned by MGM Mirage, which also owns other casinos in the Las Vegas area such as the Bellagio and the MGM Grand, the CityCenter will include up-market hotels, a shopping center, concert facility and a casino.

With the establishment of Sightline Acquisition Corporation Kirk Sanford ventured into the exciting world of Las Vegas real estate. If Las Vegas is nothing else, it is surely exciting.  For instance, despite an increase in the number of home sales, prices have continued to decline in the city known for its casinos and legal gambling. The decline is actually officially the steepest in the nation, just passing Phoenix as the city with the fastest home price decline.

The statistics read like this: Since August 2006 which was the peak in home prices, the cost of a home in Las Vegas fell 54.3%. In June 2006 Phoenix reached its own home-price peak, and has since slid down by 53.9%, just a tad less than in Las Vegas.

In an apparent contradiction, despite the price declines numbers of home sales continue to increase. July marked the eleventh month in a row in which home sales increased, with a total of 29% increase since last year.

The discrepancy is easily explained: Most of the home sales are foreclosures, which sell at discounts. Two thirds of Nevada’s mortgage holders actually owe more on their homes than their homes are worth, leading them to foreclosure. Conclusion: More sales, cheaper prices.