Canadians buying in Las Vegas

For the last several months, more and more Canadians are buying up Las Vegas property. With housing prices dropping to new lows and the strong Canadian dollar, it makes perfect sense. While this is good news for agents in Las Vegas, its bad news for Canadian agents. I was reading a post about real estate in Parry Sound, Ontario Canada that states the Canadian resort property market is slowing down and part of the reason is property sales in US. You can read the post here.

The big question is whether the recent financial meltdown and subsequent bailout will continue to draw in foreign investors or will it scare them off. Several overseas property markets are feeling similar pinches as are their major banking institutions. At the beginning of the year, CTV was talking about the US recession (what recession?!) and whether it would affect the Canadian housing market. They theorized that a slowdown here could actually boost the Canadian housing market. Apparently they were right and wrong.

Canadians are still coming to buy Las Vegas vacation homes and condos. With the fed lowering interest rates again, I don't think they'll stop buying any time soon.

OJ Trial: Verdict GUILTY

OJ's luck has finally run out. Yesterday the jury came back with a verdict of guilty on 12 felony counts. OJ is in custody awaiting sentencing on December 5th of this year. Simpson is facing life in prison for kidnapping, armed robbery and 10 other charges stemming from the incident at Palace Station back in September of 2007.

The Las Vegas trial was televised but lacked the media circus of the Nicole Simpson murder trial for the murder of his ex-wife Nicole Brown Simpson and her friend Ron Goldman in Los Angeles. I'm sure we can expect an appeal.

Source: http://www.msnbc.msn.com/id/27010657/

Related:

OJ on Trial
OJ Pleads Not Guilty
About to be squeezed
OJ Update
OJ Claims he was getting back stolen goods
Juice is loose in Vegas

Renters protect yourselves

There was a time not that long ago, if you were a renter the biggest worry you had aside from paying your rent on time was to make sure you also had renter's insurance. Sadly, those times are over. Now you have to worry about if the place you have rented actually is for rent and not some kind of rental scam. Not to mention given the current state of the Las Vegas housing market, the home you are renting might be going into foreclosure.

However, there is something you can do about that. The Clark County Assessor's office has public records accessible online. You can look up your current address to see if it is in foreclosure here. Copy the parcel number and then go to the recorder's page do an advanced search. Enter the parcel number and click detail data. You are looking for a BREACH or NOTICE OF DEFAULT in the document type field. If the property is going into foreclosure, it will usually be within 120 days of the date posted. If it lists Notice of Sale or Notice of Trustee Sale, than foreclosure is imminent, usually within the next 30 to 60 days. If the property has already been foreclosed on, there will be a TRUSTEE DEED recorded, which means the bank has taken ownership of the property.

If you have determined that the property you are paying rent on is in foreclosure, I would recommend consulting an attorney before doing anything else. Don't confront your landlord without seeking legal advice and verifying the status of the property.