Here is an article that I find to be of interest due to the past history of the Las Vegas Market. Las Vegas has rebounded quickly to the last two recessions of 1987 and September 11th, 2001. This article describes the future growth of the Las Vegas Valley as having strong positive momentum. The downward slide of the Real Estate market is not going to last forever so interest rates are again at historic lows and the Treasury Department announced today actions that are targeted to lower interest rates to as low as 4.5%. Today’s interest rates are attached to this blog from my preferred lender Aaron Gordon at Countrywide Home Loans.
Here are two factors to consider: how long will Buyers be able to buy homes at $100 per square foot and at 5% or lower interest rates? I strongly believe the bottom of the market is here, the window of opportunity is now. Buyers need to get off the fence and take advantage of home ownership while these two factors remain.
Please call me with any questions or concerns. Remember Countrywide’s rate sheet is attached below. If you would like to be updated weekly on the interest rates for home loans please contact our office and we would be glad to add you to our rates update emailing list.
Happy Holidays!

Dulcie Crawford
The Dulcie Crawford Group
Realty ONE Group
9089 S. Pecos Rd., Ste. 3400
Henderson, Nevada 89074
Office 702.588.6842
Direct 702.285.1990
Fax 702.447.2800 DIAL AREA CODE
http://www.blogger.com/WWW.DulcieCrawford.com
Dulcie@DulcieCrawford.com
http://freehomevaluehenderson.com/
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Which cities will weather the downturn best?
Study shows metros entering slow period with most positive momentum
Las Vegas is one of the nation’s cities entering this recessionary period with the most positive momentum.

Gabriel Bouys / AFP - Getty Images file

By G. Scott Thomas
updated 5:08 a.m. PT, Wed., Nov. 12, 2008
This sentence — or one like it — can be found in almost any prospectus: "Past performance is no guarantee of future results."
But that doesn't mean history is a worthless indicator. Consider, for example, the nation's metropolitan areas. The link between their past and future performances is often a strong one.
The 10 fastest-growing metros in the prosperous 1990s have continued expanding in the present decade, despite the erratic nature of the economy. All 10 of these hot markets registered population gains of at least 13 percent between 2000 and 2007, led by Las Vegas' seven-year increase of 33.5 percent.
The 10 biggest laggards of the '90s, on the other hand, have continued to struggle. Seven of these cold areas also lost population from 2000 to 2007, with Youngstown, Ohio, suffering the worst decline, 5.4 percent.
Recent growth trends offer an advance look at the markets best positioned to weather the current economic downturn — and the ones that have the most cause for concern.
Bizjournals analyzed recent performances to identify the nation's current growth centers — the metros entering this recessionary period with the most positive momentum. Las Vegas, Raleigh, and Cape Coral-Fort Myers, Fla., led in bizjournals' new rankings of America's growth centers:
· Las Vegas sits in first place because of its broad-based record of economic expansion. It was among the three fastest-growing markets in population, employment and income during the past five years, the only metro to do that well in all of those categories.
· Raleigh, which is second in the overall standings, picked up considerable steam between 2005 and 2007. Its population soared 9.6 percent over that span, outgaining all other metros. It also led the nation in private-sector employment growth during the same two years.
· No. 3 Cape Coral-Fort Myers, Fla., has been a powerful population magnet. It set the pace for all of America in the past half-decade, growing by 24.4 percent. No other market increased its population by more than 21.2 percent between 2002 and 2007.
Bizjournals analyzed five years of demographic and economic data for the nation's 100 largest metropolitan areas, looking for markets that have been experiencing strong, steady growth.
The study focused on changes in four key indicators — population, private sector employment, per capita income and gross metropolitan product.
Bizjournals calculated growth rates for five different time spans within each category, seeking to detect both long- and short-range trends. The spans ranged in length from five years to a single year, all ending in the most recent year for which official statistics were available.
These were the top performers in each category:
· Population: Cape Coral-Fort Myers was the long-range winner, enjoying the strongest population growth over the three lengthiest time spans. Raleigh was powerful over the short haul, posting the fastest growth rates for intervals of two years (2005-07) and one year (2006-07).
· Private sector employment: The unlikely leader for job growth over periods of five and four years was McAllen-Edinburg, Texas, an area of extensive poverty along the Mexican border. Raleigh was the best for three and two years, New Orleans for one year.
· Per capita income: New Orleans scored a clean sweep, registering the fastest rates of income growth for all five time spans. The devastation wrought by Hurricanes Katrina and Rita in 2005 actually increased the per capita income in New Orleans, as tens of thousands of poor people fled the area and never moved back.
· Gross metropolitan product: Baton Rouge, La., was the leader for three different intervals (five, three and two years) in this category, which measured growth in the output of goods and services. The other top markets were Las Vegas for a four-year period and Wichita, Kans., for one year.
Joining Las Vegas, Raleigh, and Cape Coral-Fort Myers in the top 10 of bizjournals' overall standings are Austin; Phoenix; McAllen-Edinburg, Texas; Houston; Salt Lake City; Wichita; and Charlotte. All would appear to be well situated to confront the recessionary challenges ahead.
Population growth between 2002 and 2007 in these 10 growth centers was 16.2 percent, coupled with an increase of 16.6 percent in private-sector employment. The averages for all 100 metros in the study group were 6.3 percent and 7.6 percent, respectively.
Two states dominate the bottom of the rankings. Five markets from Ohio and two from Michigan have the worst growth records in America, an unfortunate foreshadowing of the economic problems they may face in the coming year.
Both states are in the midst of protracted slumps triggered by the decline of their automaking and heavy manufacturing sectors.
Those problems are especially acute in last-place Detroit, which lost 119,500 private sector jobs from 2002 to 2007. Its gross metropolitan product grew by just 8.8 percent over the same five years, roughly one-quarter the national growth rate of 31.8 percent.
Grand Rapids, sixth-worst in the overall standings, is the other Michigan entry at the tail end of bizjournals' list. The five Ohio markets in the bottom seven are Toledo, Youngstown, Dayton, Cleveland and Akron.

Countrywides Rates Sheet

"RATE DROP ALERT!!!" - THURSDAY DECEMBER 4
The Treasury Department is considering a plan to drive down mortgage rates as low as 4.5% for a 30 yr fixed. This would be the lowest interest rates SINCE THE 1960's!!!
If this happens or not, rates have dropped further. This is the lowest they have been in 2008.
Has there been a better time to buy a home in the last 10 years?? Or to refinance one if you can??
CONFORMING 30 YR FIXED (does not include adjustments for lower credit scores)
4.625 - 2.500 points
4.750 - 1.875 points
4.875 - .875 points
5.000 - .250 points
5.250 - 0.000 points
FHA / VA
4.875 - 2.375 points
5.000 - 1.500 points
5.125 - 1.375 points
5.375- 1.000 points
5.625 - 0.000 points
Now is a great time to LOCK!!