Domino Effect of Housing Bust

An article over on VegasInc.com (which is a great website btw) discusses a potential further dip in foreclosures in Las Vegas in the coming years, despite the fact that home prices have fallen over 60% and nearly 4 of 5 homeowners in the area are under water.  As I’m sure you’ve read about in the news, there are several types of foreclosures.  The first is when a homeowner simply cannot make the monthly payments on his house and the bank takes the property.  The second, called a Strategic Default is when a homeowner simply walks away from  his home even though he can make the monthly payments.  Some people are opting for this if they feel that they are so far under water on their home, it is pointless to keep throwing money into an almost worthless investment.  The homeowner will face the consequences (destroyed credit, moral issues) head on in exchange from ridding themselves of this toxic asset.

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2011
06/10
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CATEGORY
Real Estate
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A Well Kept Secret

You know there’s a new nightclub in Vegas right?  It’s been open for about 6 months and is on the Strip.  This club is very high-end and is located in The Luxor.

Never heard of it?  That’s their plan.

It’s called Savile Row and is the brainchild of several nightclub veterans, whose goal was to create a stylish & exclusive 2,000 sq ft retreat for well connected Vegas socialites and Hollywood celebrities.  This place is so secret that you have to be a member (or a guest of a member) to gain entry.  It’s so secret that their website has no photos.  It’s so secret they don’t even have a page on Yelp.com.

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2011
06/05
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CATEGORY
Bars/Clubs
Vegas Lifestyle
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Housing Challenges

Steve Marcus from The Las Vegas Sun

A good story today over at the Las Vegas Sun highlights yet another challenge facing the much-needed housing recovery in Las Vegas:  New Construction.

The article points out that while many half-completed condo and other housing developments just sit, new homes are springing up around them.  Why would this be?  Well the answer is the fact that the cost of new construction is also at historic lows.  If you have cash and are bankable, then the world (or desert) is essentially your oyster.

Due to the housing crash, there is a glut of talented contractors in the Las Vegas area and they need the work.  That’s why a lot of homebuyers are opting to build their dream home at very low prices instead of buying someone else’s dream home.

More of the story can be found here.  Check it out.

2011
06/03
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CATEGORY
Real Estate
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This is your website

Over the years I have been posting Vegas-related news and entertainment stories with my own little twist or viewpoint.  I know that I’m not always right (but I usually am most of the time).  What I do know is that there is power in the user-generated social media model, especially for Vegas and that’s what I am wanting to hear from you, my loyal readers.

In the next site re-design, there will be a forum for registered members to talk about all kinds of Vegas related topics, from nightlife to traffic, government, corruption, you name it.  This will truly allow you, the voice of Las Vegas, to have a platform to be heard.

If this is something you’d like to see us ad on the website, let me know by posting a comment or sending me an email and with enough responses, we could get this thing going in a matter of days.

After all, the readers are the voice of this website, I merely try to get the conversation started.

Thank you all, for spending time on my website.

 

Cheers,

 

2011
05/28
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CATEGORY
Bars/Clubs
Gambling Industry
Gossip/Rumors
Hotels
Poker
Police/Crime
Politics
Real Estate
Restaurants
Retail
Spas & Pools
Transportation
Uncategorized
Vegas Lifestyle
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Electric Daisy Carnival comes to Vegas

The surging popularity of day clubs, high energy pool parties and over-the-top nightclubs in Vegas has in turn attracted the world’s best DJ’s.  In the last few years, the Las Vegas house/dance music scene has become so big that many people feel it has dethroned Miami as the #1 market in the US.

This June, the LV Motor Speedway will play host to the inaugural Electric Daisy Carnival – Las Vegas.  Insomniac is the production company that puts on this festival, and has played host in Colorado, Puerto Rico, Texas and Colorado.  It draws tens of thousands of fans, and along with Bonnaroo and Jazz Fest is one of the nation’s largest outdoor music festivals.

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2011
04/28
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Bars/Clubs
Hotels
Vegas Lifestyle
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Sign of the “Apocalypse” ?

The Charlie Sheen death spiral is in full effect.  A year ago, “The Machine” was getting paid $2mil per episode on Two & A Half Men.  Now he’s making Vegas Nightclub appearances.

Not #winning.

2011
04/20
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CATEGORY
Bars/Clubs
Vegas Lifestyle
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Funny but True

If you were just now starting to get “Party in the USA” out of your head, allow me to apologize for this video.  A funny parody of the Department of Justice’s actions this past week in shutting down internet poker.

Thank you, Barack.

2011
04/20
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CATEGORY
Gambling Industry
Poker
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The Collateral Damage from Online Poker Legality

Source: Atlantic Vegas

By now, most people are fully aware of the IRS’s power play in shutting down US access to the 3 largest online poker rooms FullTilt, PokerStars and AbsolutePoker.  This is obviously a blow to the lifeblood of these companies (US players are a huge revenue source for them) but in addition, another potential victim is facing a dubious future……

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2011
04/19
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Gambling Industry
Poker
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The Future of Poker

Many folks in the poker world were shocked to learn last Friday that the FBI had shut down 3 of the largest online poker sites in the world, due to their continued involvement of allowing US residents to gamble “Illegally” in their poker rooms.  If you’re not brushed up on the subject, you can read here.

This seemingly sudden action by the US government has most online poker enthusiasts very angry.  Many people in Nevada and other states heavily reliant on gambling see it as a chance to even the score, and help redirect some of those dollars back to our US based casinos..

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2011
04/17
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Gambling Industry
Poker
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Top 5 Vegas Films

Lots of movies about Las Vegas (or set in Las Vegas) have been made over the years. Some have received critical acclaim, others have flat out sucked.  Here are my 5 favorite Las Vegas-related films:

#5:  Leaving Las Vegas

Nic Cage’s best career performance, I’m sure everyone has seen this film at least once.  This film focuses less on the city of Las Vegas and more on the self destructive nature of Nicholas Cage.
2011
03/06
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CATEGORY
Uncategorized
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