Coldwell Banker Premier Realty - Lance Hamrick

Lance Hamrick Blog

Top Cities for Absentee Buyers

Of Course, Las Vegas is Present
Posted by John McClelland on July 09, 2010 in No Category
On this blog we have discussed several times about the amount of investors absorbing inventory in our market. We've bought a lot of homes for investors in the past year but it has really piled up in the past few months. Many of these properties obtain solid returns, especially among older properties which are often getting 8-14% ces. It is difficult to find these returns in any asset class in today's world. Inman News has a great article on this phenomenon in Las Vegas and elsewhere. http://www.inman.com/bu... read more
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Some notes on Valuation

National Rankings and Trends
Posted by John McClelland on February 17, 2010 in No Category
Modern locomotives are diesel-electric hybrids where a diesel drive motor powers a generator that in turn powers electric motors at the drive wheels. Regional economies are dynamic motors that power the locomotive...the United States. While each wheel, the regional economy has its own motor, there is a drive mechanism at the top, chiefly monetary policy and with respect to Las Vegas's regional economy, national employment can be thought of as a drive engine. In Las Vegas we really seek a broad nation... read more
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Residential Investors

Tenants, cap rates and flippers
Posted by John McClelland on April 05, 2010 in No Category
Of all the fancy indicators demonstrating a bubble in home prices, nothing was as telling as shows like "Flip This House" or "Flip That House.” During the time this programming was first presented, I was a consultant thinking that this programming was the equivalent of an "end is near" sign for residential prices. When you have a cab driver or your hairstylist (I’ve never actually had a hairstylist but you may) or the kid across the street that mows your lawn tells you to buy an... read more
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REITs. Have money, will travel

Cash burning a hole in the pockets of REITs but product to buy is scarce
Posted by John McClelland on February 05, 2010 in No Category
REITs have raised a lot of capital in the past year and they are locked and loaded for bear but they just can't find enough of them. A lot of the product that REITs like to aquire; apartments, office buildings, malls and warehouses have not been available. Current owners are hesitant to sell into a market where prices have needed a massive reset and they often keep performing assets for themselves. Additionally, banks are cautios about how they liquidate properties they have foreclosed on since they have to watch t... read more
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Pricing Update, Case-Shiller & RPX

Nearly "stable"
Posted by John McClelland on May 27, 2010 in No Category
Recently the Case-Shiller numbers for March were released. The low-tier index (under $125,000) continues to be show an apparent improvement. The middle-tier ($125,000 to $192,000) and the high-tier (over $192,000) continues to be flat or slightly downward bias. The Radar Logic RPX demonstrates a similar pattern. Median indices, which we can calculate more currently, demonstrate continued flattening. Who knows how much of this was market held up by the tax credit that expired in April. In the Las Vegas market, w... read more
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