Las Vegas Homes

Oscar Goodman speaks to the Inside Club

On the recent meeting of the Las Vegas Real Estate Insider Club this October, some of the guests who has not pre-registered were turned down due to the packed top floor of the Newport Lofts in downtown Vegas. The reason for this was that Las Vegas Mayor, Oscar Goodman, known for his previous stint as being a high profile defense lawyer for the Las Vegas mob was the club’s keynote speaker. Mayor Goodman wowed the crowd with interesting stories about his past clients and with his likeness for the movie industry.

Most of the topics in his talk were geared at the recent status of the real estate business in Las Vegas. According to the Mayor, now that the REO homes are slowly declining, he has figured out that a change in direction is now necessary to provide investor clients with the sustained ability to buy quality investment properties without having the price bid up to levels incompatible with the strong cash flow. He also stated that the number of sales continue to be high since June while the number of foreclosures is slowly going down. In effect, this caused in a shortage situation in the real estate industry. By now, more people are looking to purchase low-priced REO homes than there are homes to sell them. Also, Mayor Goodman added, that, this shows why investors and realtors are facing multitude of offers and bids to acquire home in the past months.