Kirk Sanford News

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.

Certainly, the real estate market is one that has been hard hit by the economic downturns. One interesting option for developers and for condo owners is to turn to the rental market in Las Vegas. A number of luxury condo projects have begun renting portions of their units. Several developers are also looking into the idea of time shares.

Housing analyst in Las Vegas, Steve Bottfeld, sees this rental trend as one that will continue. This can become a way to generate revenue for developers.

This information mostly affects developers, but is also of interest to companies such as Sightline Acquisition with Kirk Sanford and others who are interested in real estate in Las Vegas.

There is some promising news for the real estate prices in Las Vegas, but they still seem to have a ways to go. In April, Las Vegas home prices edged up slightly as measured by the Standard & Poor’s/Case-Shiller Home Price Indices. However, Vegas still trails behind other big cities in the recovery or residential real estate prices.

S&P did indicate that Las Vegas prices increased .2% from March to April, a positive sign that is certainly encouraging for businesses like Sightline Acquisition with Kirk Sanford and others.

However, looking at a year-over-year basis, Las Vegas prices were down 8.5% in April, in comparison to a 3.8% average increase for 20 other markets that were included in the report.

Carla L. Davis, the author of a recent post on RealtyTimes.com helps homeowners to think about when it is time to move up. If you’ve had another baby, accepted a retired parent to live with you, welcomed a divorced child back into the house, and more, then you may be considering purchasing a larger home. How do you know when the time is right to do so?

First, you need to consider the interest rates at the time when you are considering moving. You need to look at your budget and at your income. You need to consider if you have enough equity in your current home to put more money into your future purchase. You should also be educated about current market conditions, and you should think clearly about where you want your new home to be based on schools, commuting times and more.

These considerations could have you when thinking about purchasing a larger home. Certainly, in the Las Vegas area, home owners and real estate investors like Kirk Sanford, take these questions into consideration with their purchases.

Certainly, many real estate collections today advertise that they are “Green” properties. Others, who already own their property, are considering turning their home into a more green home. This blog helps you to see, in dollars and cents, exactly how much going green is worth for your resale value. It’s a very practical blog post for anyone who is considering this real estate option.

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.

Kirk Sanford, CEO of Sightline Real Estate, is probably quite up to date on the Las Vegas real estate market.  Apparently, research has shown that “over 1/3 of second homes are being bought in urban areas, and Las Vegas is one of the top cities to buy in.”  As well, what has traditionally been downtown and Strip areas are now becoming “urban high rise lifestyle centers.”  This is definitely good news for a business real estate man like Sanford.

Las Vegas Land and Kirk Sanford

But what a guy like Kirk Sanford should also be aware of is that there actually is not as much vacant land in Las Vegas available as one might originally think.  When you go into Las Vegas, you imagine that there is indeed much vacant land, as you drive through the city’s stunning, wide landscapes.  This is probably because the federal Bureau of Land Management is the proprietor of the bulk of land in Las Vegas Valley, thus there is only a minimal amount (20%) that is split between the hands of private owners.

The most recent interesting real estate trend in Las Vegas is that Las Vegas is going green. MGM City Center was the first LEED certified project in Nevada and there is now a collection of Las Vegas homes that are following suit.

The best project for green, gorgeous homes at the moment is the Marquis Las Vegas project. They were actually chosen by the National Association of Home Builders as the New American Home 2009. Located in an ultra-exclusive neighborhood off of Tomiyasu Lane that has been home to Wayne Newton, Mike Tyson, the Sultan of Brunei and others, this area offers properties as large as 40 acres.

The area contains several of Nevada’s most expensive properties, including estates ranging to more than 40 acres, but is just minutes from the Las Vegas Strip and Downtown. The energy for the homes is solar and solar thermal and each home is expected to run on natural gas and electricity. If you select the Smart House Package, your home will also be fully equipped electronically. You’ll spend two weeks with Microsoft, programming your home for your comfort and lifestyle!

Certainly, this project is a dream-come-true for private home buyers or companies such as Sightline Acquisition with Kirk Sanford. Anything is possible in Las Vegas!

Certainly, many real estate agents, investors and companies such as Sightline Acquisition with Kirk Sanford, are interested in the changes in the real estate market in Las Vegas. Henderson is the 2^nd largest city in Nevada and the US Census says that it is the fastest growing large city in the United States.

Interesting enough, Henderson is the home to the first large planned community in southern Nevada, Green Valley. At the moment, Henderson has 25 planned communities with even more planned. It’s a wonderful location for school age children, as it has a number of great private schools. It also has one of the lowest property tax cities in Nevada. It’s also ranked as the third best place to retire in the United States.

It will be interesting to see how Henderson continues growing and to watch the real estate market in this area.

It seems like Las Vegas is offering more than just gambling today.  Take the family on a Vegas vacation and see just how much is going on in the city.  Many of the hotels these days boast attractions for all ages, such as the Mandelay Bay Shark Reef, where no-one is likely to walk away less than fascinated.  You will be privy to an all-encompassing aquatic experience, observing over 1,200 different species including sharks!

With just a little research, you will soon see how fast new attractions and facilities are developing in the city.  This will have you wanting to book your next vacation there right away, or even consider the possibility of relocating, given the great quality of life it can offer.  Such news is great for individuals like Kirk Sanford, real estate investor and CEO of Sightline Acquisition Corp.

If you are using Vegas to take a break from it all and are craving a little time away from the kids, the city also offers many quality child care options.  For the older kids who want time away from you, there are plenty of larger-than-life pool areas as well as child-friendly arcades.  So don’t be fooled into thinking Vegas is simply a gambling city and nothing else – the city can really offer something for everyone.