Kirk Sanford News

If you’re interested in finding vacant land in Las Vegas and building your own home, there are many things you should know.  While the desert looks to be open and inviting, there is surprisingly little room for building at this point.  Almost 80% of the land in the Las Vegas Valley is owned by the Federal Bureau of Land Management. This leaves 20% for private owners.

Most of this land has been divided into half acre parcels, with the largest area of land available being about two and half acre parcels.  If you’re hoping to enjoy horses, you should also know that three horses are allowed for every acre of land.

Certainly, not everyone in Vegas wants to build.  Some companies, like Sightline Acquisition, LLC with Kirk Sanford specialize in the acquisition of distressed commercial and residential real estate.

According to the Las Vegas Review-Journal, things are not looking up for the Nevada housing market.  Nevada ranks first across America in residential foreclosures and second in delinquencies for the second quarter of 2010.

As Stephen Brown, the economist who just became the director of the Center for Business and Economic Research at the University of Nevada, Las Vegas, said, “The Las Vegas housing market is pretty close to a bottom.” He doesn’t expect to see residential real estate begin to recover for another three years or so.

Unfortunately, Nevada is in good company with their foreclosure rates.  RealtyTrac, a foreclosure listing service, reports that more than 2.3 million homes have been repossessed by lenders since the recession began in December, 2007.

Many banks have tightened their lending standards as a result of these real estate issues.  Certainly, some companies are able to help with these real estate issues. Sightline Acquisition, Inc. with Kirk Sanford, for instance, is a privately held Las Vegas-based investment fund specializing in the acquisition of distressed commercial and residential real estate. While benefiting from a depressed market, companies like this one with Kirk Sanford can, hopefully, help to breathe life into the real estate market and boost sales.

For anyone looking into getting a mortgage, or concerned about the future of their mortgage rates, there is good news.  Reports have shown that: “30-yr fixed mortgage rates continue to hold at a record low 4.375% for well-qualified borrowers paying a standard .07 to 1 point origination. 15-yr fixed mortgage rates have dipped once again, setting a new record low, at 3.75%, down from 3.875.”  This definitely spells good news for home owners and those looking to possibly invest in the property market.

Although there is no denying the fact that the Las Vegas housing market is not faring all that well, this does not necessarily spell bad news for people like Kirk Sanford and companies such as Sightline Acquisition Corp.  A recent report actually suggested that there was some slight improvement anyway in the market.  In April for example, the cost of homes was on average $126,000 which is an increase of $6,000 from the previous month.  So there is reason for people like Kirk Sanford to be optimistic.

Kirk Sanford and Sightline Acquisition Corp.

CEO of Sightline Acquisition Corp, Kirk Sanford has been only too aware of what has been occurring – for better and worse – in the Las Vegas real estate market.  His company was established to “specialize in acquiring distressed property and other assets,” so when something goes wrong in Las Vegas property, Sanford and Sightline are on it.  Hopefully, what has been occurring recently in the Vegas real estate market will take the direction of the most recent month and things will really start to look up in this area.

Certainly, whether you are shopping for a new house or wondering about the value of your current one, it’s helpful to know what the market will bear. Individuals, and companies such as Sightline Acquisition started by Kirk Sanford, want to know where to invest their money.

One new interesting study points to the walkability of the neighborhood. A company called ceoforcities.org has created a report showing that home values go up as the walk score in a neighborhood ascends. The walk score shows how walkable a neighborhood is.

They found, for instance, that each additional Walk Score point adds somewhere between $500 and $3000 to the value of the home. Walkability helps homeowners because it allows you to reduce your car dependency, cut transportation costs, and help the environment.