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We had the pleasure of attending Glenn Plantone’s “Real Estate Insiders’ Club” this week (2nd Wednesday of each month at The Orleans), and thought we should spread around some of the news, good and bad, that was shared by their well-informed and articulate reporters:

Contrary to what the media would have us believe, the Las Vegas real estate market is not still spiraling downward. Both the supply of single family homes on the market (14,437) and the average sale price per square foot (-5), have been pretty stable since March. This is not indicative of a worsening housing market, even if the supply is being held down partly by the banks withholding some of their REO inventory. (According to the Review Journal, there were 3176 new foreclosures in Nevada in October, considerably less than the 4020 in September.)

More good news for investors: the banks’ hopes of a buyout of their “toxic assets” by the government having been thwarted, we can expect to see them - the banks - more willing to negotiate and make deals in the coming months.

Bad news: we are now inevitably entering a period of inflation. However, this is a good time to own real estate with a fixed mortgage interest rate, since rents will be going up. If you don’t have a fixed rate, now would be a good time to renegotiate your loan(s). Any property that cash flows now, will be a good investment over the next few years.

The guest speaker, David Seymour, gave an enlightening presentation on the appropriate investment strategies for different phases of the housing market cycle, and on how to leverage our investments so as to retire wealthy in 3-5 years. Since we’re NOW entering the phase where millionaires are made, it’s time to link up with your local investor group, get connected and get informed.