Very Vintage Vegas

Fun Features Found in Foreclosures - The Best Deals Are Retro, Vintage and Classic Homes In The Historic Neighborhoods Of Las Vegas

January 4th, 2009 Categories: Alta Rancho Historic District, Fun Features Found In Foreclosures

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There’s a doozy of  bank owned REO (real estate owned) foreclosure property in the Alta Rancho Historic Neighborhood. It came on the market the other day for $232,750.12. Actually, I’m just kidding about the twelve cents.

The MLS Pictures aren’t bad, but they left this shot out. I think it’s worthy of being shown, as it’s the centerpiece for this classic home in an historic neighborhood of Las Vegas.

 

 

 

 

 

 

1/2 Acre Lots In Historic Neighborhoods are hard to come by at this price. I’ve said it before….The banks are just giving away the foreclosure homes for the sake of getting rid of them.

 

 

 

A 1000sf+- garage/storage/workshop/studio?

I know there’s one of the artists out there that could REALLY produce with a shop like this.

 

 

 

 

 

 

Pink Bathrooms?

 

There’s plenty here that needs polishing, but it’s not trashed, bombed out or ever been re-muddled.

 

 

What more could you want?

 

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Why Jack LeVine (Uncle Jack) Is Writing Long Drawn Out Headlines With The Words Vintage, Historic, Mid Century Modern, Mid Mod, Retro, Classic, Urban, Foreclosure and Las Vegas In Them

January 4th, 2009 Categories: Las Vegas Real Estate News

That’s how the search engines determine which websites show up when you search for various combinations of those words. They look for keywords that are used in both the headlines and in the body of the posts.

Of course, once you’ve already become a reader, they’re annoying, but I have to keep on using words that people are searching for if google is going to think I’ve still got relevance to the searcher.

I got lazy mid year, and stopped practicing the art of Search Engine Optimization (SEO). I don’t think I need to tell you in every headline that I deal in Classic and Retro Homes In the Historic Neighborhoods of Las Vegas. But I do need to tell google often, that if someone is looking for a foreclosure or even for a nice well loved and well maintained home that’s classic or retro or Mid Mid Century Modern (mid mod), then they definitely ought to get pointed to VeryVintageVegas. I’m also working on my name and Uncle Jack as well as Unclejack.

Of course, there’s current owners who want to sell their classic, retro Mid Century Modern Homes in Las Vegas, and they often search for a Realtor who specializes in homes in historic neighborhoods. I want them to be able to find me also.

Some of the other things the search engines look for in determining relevance is how many other websites link to this one, how often I give links out to other websites, how often I link back to myself in previous posts and HOW OFTEN PEOPLE COMMENT. That’s why I mentioned trying to get lots of comments the other day, though it didn’t work as well as I had hoped.

Now you know. I’ll probably get lazy about it in a few weeks again, since it’s not how I talk, and I think it’s a stilted unnatural way to write. But it works! You probably found me that way yourself.

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Worst MLS Photo Of The Day

January 3rd, 2009 Categories: Worst MLS Photo

Gate way pictures should be outlawed. They can only lead to more dangerous pictures.

 

 

 

 

 

The only thing worse than a bad picture is NO PICTURES AT ALL!

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Imbleachment - By Diane Bush

January 3rd, 2009 Categories: Las Vegas Real Estate News

Poor Diane, 8 years of having to share a name with a notoriously imfamous family. Though I’ve emphatically and intentionally stayed non-political on this blog and doubt that I’ll be offending many of my readers, and since there’s only 18 days to go…. What the heck.

Diane Bush did this piece of audience participation art at the October First Friday. See what fun you’re missing if you don’t attend regularly.

 

 

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A Case In Point About How The Banks Are Selling Their Foreclosure REO Homes In Las Vegas

January 2nd, 2009 Categories: Market Conditions

I get emails every morning telling me what’s newly listed, newly contracted or newly closed. I have an automatic search set up for almost every neighborhood that I pay attention to. The Marycrest – Crestview - Morning View neighborhoods are among them. You can do the same for yourself with our MLS Search, if you’re inclined.

On November 24, about 38 days ago, I got an email about 1733 S. 17^th Street in Morning View Heights.

$65000.

I pinpointed which house it was and got there in about 5 minutes. One of my cash investor buyers put in a bid at list price about 2 hours later. Almost everyone I work with has their own search set up. The buyer that I wrote the offer for was the first one to call me from the alert. Even they were surprised that I already had been there. That’s how Meghan got the “Dean Martin’s Cousin’s House”, as well. (and here also)

The thing is….the house should have been listed for about 120. There were comps (recent sales) of fairly decent houses to support 120,000 if there was an appraisal. There was even a comp in the 180’s with a pool that was the same size. Why the 65,000 list price? Why were the very broken 1 bathroom Huntridge foreclosures being listed, and then selling quickly for 65000+-?  After all, there’s even smaller homes with one bathroom in North Las Vegas being listed and sold in the 60k’s. Why this one at 65,000. Why not at 100,000? Why not 120,000?

We were told at 2m that there was already another offer coming in.

Ooops, multiple offer situation. Not uncommon lately.  On the 25^th we got it in writing with what’s called a “highest and best” counter offer from the listing agent. 5pm on the 26th would be the deadline to counter back with our best offer. Then it’s just waiting to see who won the guessing game.

It’s a lot like poker. But not as immediate. Well anyway, before turning in our best bid, we got wind that we were bidding against an FHA buyer who would be living in the house. I knew the house would pass FHA if a few roof shingles and a window got replaced. On the 25th, I ran into another agent when I was at the property. He had an investor buyer with him. They were trying to scare us off and we were doing the same in reverse. Getting this house at anywhere even within 20,000 of the list price, would have allowed room to fix the place up and flip it. For the last year, almost all the investors are/were buying and renting them out for a year or 2. At 100 to 120,000 that would have happened to this property. At 65,000, there would have been room to flip. We also assumed that an owner occupied buyer would see the house as an already pretty livable property for a really low amount, so they’d be willing to pay more that an investor would. My buyer was actually rooting for the FHA buyer, however. Our bid? A paltry 70,000, instead of dropping out completely….just in case there was a going to be a miracle.

Somehow, this story sounds vaguely sounds familiar…HMMMMM. A three year old flashback? Something’s different though. Oh, yea,  the numbers are different.

Anyway, the results were posted today. The FHA buyer got the house. Turns out out the other investor never put in a bid. Turns out that the bank could have gotten a whole lot more, and sold it just as quickly at a considerably higher list price. Turns out that the buyer got a not so “pretty” but perfectly livable home that only needed minor maintenance repairs. The major cosmetic overhaul might get done sooner or later….or not.

And the FHA buyer managed to land an 1800 sf home with a view of Sunrise Mountain, on a terrific street in Downtown Las Vegas for only $75,000.

The shame is that all the negotiations from typing it into the MLS to the declaring that the bank had accepted an offer was all of 3.5 days. If it had been listed at even $100,000., and shown over the next weekend, then a lot more buyers would have found it, especially a lot more FHA want to live in it buyers, WHO WORK DURING THE WEEK. I believe it would have sold at over a 100 if they would have listed it that way.

Moral? No one’s smarter than anyone else. There are no rules. It’s totally a guessing game. The banks are screwing themselves yet again. And they’re SCREWING ALL OF US AT THE SAME TIME. Why? Because CONSUMER SENTIMENT AND WILLINGNESS TO SPEND and our whole overall economy is heavily dependent on how we feel about our home prices!

Thousands of homeowners and scores of other banks got hurt hugely by this “NEW COMP” in the record. One homeowner made out like a bandit. I’m happy for them. Really.

And that’s why prices have crashed well beyond “correction of the excesses of a few years ago”. That’s why when they give away perfectly livable (even though a foreclosure REO) homes for the same price per square foot as the totally trashed homes, prices go down even further.

ATTENTION ALL BANKS. It’s not that far to ZERO. Give a couple of them away for a dollar and watch how fast we can start an upward skyrocketing price trend when the next bank sees see the comp you just created. We’d unload ALL THE FORECLOSURES AND REO property in a matter of weeks. Then we could have a stable market again.

Maybe that’s what they’re trying to do. Anyone who buys a house this year is going to be  be among this year’s winners. But on the other hand, it doesn’t make any sense to be waiting around for the $1 house.

Posted by Jack LeVine | Currently 2 Comments »

Worst MLS Photo Of The Day

January 2nd, 2009 Categories: Worst MLS Photo

Directions: Sweep floors. Then take the picture.

The only thing worse than a bad picture is NO PICTURES AT ALL!

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There’s A Birthday Party For Jack LeVine After First Friday At The Downtown Cocktail Room in Downtown Las Vegas

January 1st, 2009 Categories: Events

It was a going to be a surprise, but the cat got out of the bag. There’s a ton of you out there who aren’t known by the people putting on the party, but that doesn’t mean you aren’t invited!.

If you’re in Downtown Las Vegas on Friday Night for First Friday, then stop in at the Downtown Cocktail Room after 9:30 pm. Or just head to downtown Las Vegas for some late night partying.

Normally, Jack LeVine pays no mind to birthdays, but after the heart attack and all that, I’m HAPPY to celebrate one, and grateful to friends for throwing me a party. Stop by if you can.

Downtown Cocktail Room 111 S. Las Vegas Blvd (first door south of Fremont Street) Downtown Las Vegas!

Jack LeVine was talking to another blogger the other day about how difficult it is to get people to comment, regardless of the topic. Maybe this time?

It would make the SEO Gods so happy. I’ll tell you what that means in a day or 2.

Posted by Jack LeVine | Currently 7 Comments »

Downtown Las Vegas Arts District Hosts Monthly Festival - First Friday

January 1st, 2009 Categories: Downtown Las Vegas, First Friday

I usually remind you all about First Friday, The Downtown Las Vegas Arts and Music Festival which is always on the First Friday of the Month. It’s Centered on the corner of Main and Charleston in Downtown Las Vegas.

This month, the Downtown Las Vegas Street festival is on January 2^nd from 6pm to 10pm.

I’ve taken the liberty of providing the complete run down of galleries, music, exhibits and events that you can see and experience at First Friday in the Downtown Las Vegas Arts District, instead of just linking to it.

JANUARY First Friday be sure to bundle up as it may be chilly this month. You’ll want to check out the live tiki carving at Casino Center and California by Charles Christians and Matthew Dittember . We will be hosting more than 50 artists on the street (including the Outdoor Exhibition Spaces) and in the gallery spaces within the outdoor festival area on Casino Center Blvd. and Colorado Ave. The Outdoor Exhibition Spaces are being curated by Enrique Nevarez (see below). New exhibits opening elsewhere include Jerome Barkley at City of the World and Jeff Britton showing at Trifecta Gallery in the Arts Factory.

To MAKE A TAX DEDUCTIBLE DONATION TO FIRST FRIDAY just click: http://www.firstfriday-lasvegas.org/fundraise.html

We have a minimal $2 entry fee at the gates to the outdoor festival (children twelve and under free when accompanied by an adult). All of the entry fees go to support the First Friday arts event with more artists and live performance. This also allows us to continue to pay for all of the necessary infrastructure for an event that has grown as First Friday has. Each month we pay for trolleys, barricading, Artist Outdoor Exhibition Spaces, stages and supporting equipment, porta-potties, tables and chairs, power and technicians for the event, security, police, safety (ambulance, EMT’s etc.), set up and clean up crews and more! All of these things are done to enhance the experience for our visitors and to continue to give artists in the Las Vegas community the opportunity to show their work to a large and diverse audience.

 

El Cortez/First Friday Express Trolley
 

The El Cortez Hotel & Casino joined with First Friday and is sponsoring an Express Trolley. The trolley will take patrons from the El Cortez, 600 East Fremont Street at the Cortez Garden Gateway (with 1,200 free parking spaces in the garage and also valet) to the Main Street and Colorado Trolley Stop at First Friday (and back again). The bus will run from 6:00 p.m.(starting at the El Cortez) until 10:00 p.m. with the last First Friday stop at approximately 9:30 p.m. Take advantage of the convenient parking and avoid traffic after the event. You can also enjoy the Entertainment District’s First Friday after parties when you arrive back at the El Cortez.

 

DISCOUNTS
 

This First Friday, the ‘i love First Friday 2!’ sticker will be redeemable at Big Island Smoothies ( 2 for 1 smoothies), located at 1516 Las Vegas Blvd. S., next to Dino’s Lounge. For the best Mexican food around try La Cabana located at 526 S. Martin Luther King Blvd., $2 off any entree. The sticker is valid throughout January 2009! For info WWW.PARADISELOUNGELV.COM
 

OUTDOOR FESTIVAL INFO
 

Buy a Best Friend of First Friday card and get free entry for one year ($25). The outdoor festival can be entered just south of Charleston on Casino Center Blvd.; just east of Main on California and just east of Main on Colorado Blvd. The Friends of First Friday Information Table in the outdoor festival is in front of The Funk House on the corner of Colorado and Casino Center. Don’t forget to pick up your VIP pass to Vegas’ arts scene, the Friends of First Friday membership card, which offers discounts at First Friday-friendly vendors throughout the Las Vegas Valley, purchasing a Best Friend of First Friday card (dated 3/15/08 or later) now also gains you entry to First Friday events for one year from date of card purchase. Children under 12 are free when accompanied by an adult. To see the list of participating vendors, visit the FoFF page ( http://www.firstfriday-lasvegas.org/foff.html ). The Information Table (located in front of The Funk House) provides information for visitors to First Friday. We also have special “I ‘heart’ First Friday” t-shirts available for just $15 at the  Friends of First Friday Information Table. Within the gated outdoor festival area there are NO DOGS, skateboards, hacky sacks or bikes. City ordinance requires no glass bottles or cans! All of these rules are for everyone’s safety and comfort.
 

Outdoor Artists Exhibition Spaces
 

First Friday Outdoor Exhibition spaces featuring art work by Brandon Lin, Miriam Krasner, Ashley Jacobson, Marie Grujiciic, Paul Tokarski, Juan Muniz (Frijol Boy), Lilith Travaglini, Leslie Ann Farrel, Enrique Nevarez, Autumn McGrath Luis Martinez and Lisa Atkins. Provided free-of-charge to selected artists, the Outdoor Exhibition Spaces give creators of a variety of disciplines the opportunity to showcase their latest works in the heart of the popular First Friday festival grounds. Artists can apply at art@firstfriday-lasvegas.org.
 

Live Entertainment
 

The LAND ROVER STAGE:

Hedwig and the Angry Inch excerpts

The Day After (Indy Rock)

Neon Facade

Ministry of Love

DJ Vajayjay (will spin between bands)

California and Casino Center

Live Tiki carving demonstration by Charles Christians and Matthew Dittember

Break dancers provide more entertainment on Colorado near Main St.
 

Outdoor Festival Food and Beverage
 

Dino’s continues to offer libations of all kinds. Fabulous tacos by La Cabana. Be sure to get your sweets from the Kabob Hut. Also, Whirlygig, the non-profit producer of FF, has their official water and soda booth (on Casino Center & Colorado) with all proceeds benefiting First Friday. Quench your thirst and support FF at the same time! www.whirlygiglasvegas.org. 
 

AFTER THE JUMP YOU’LL FIND ALL THE GALLERIES, RESTAURANTS, BARS AND OTHER VENUES

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