Yep, you heard that right.  We had our biggest snowstorm since 1979 just before Christmas. Up to 4 inches fell over the valley forcing the closure of the airport for the first time in ages.  Our family back in the Midwest could hardly believe that our Southwest flight was delayed due to the storm.  Residents were out in force with their digital cameras to capture the moment for future generations. We got some great shots ourselves and e-mailed them to our friends around the US. They looked pretty surreal with cactus and lawn chairs around the pool covered in the white fluffy stuff.

On the recreational side of Las Vegas, skiing is excellent at Mt. Charleston this year and the lifts are running daily.  Less than one hour to our northwest this a great place to take the family.  At an elevation of 12,000 feet, Ponderosa and Bristlecone pines abound and heavy snows there have turned it into a winter wonderland. The Las Vegas Hiking Club has planned events there this weekend for those wanting to venture into the wilderness on cross country skis or snowshoes.  This has become one of our favorite ‘getaway’ places. In the Red Rock Conservation area just minutes west of the city, in the Spring Mountains, bikers, hikers, rock climbers, photographers and sight seers were out in force on Sunday.  The resident herd of Big Horn sheep was out early, pawing away at the mountainsides for a little breakfast.  I spotted several jackrabbits along the trail to Calico Basin as well. 

As for the real estate market, our phones are beginning to ring again as folks have recovered from the holidays and are thinking of upgrading into nicer quarters.  Buyers are coming out of the woodwork as they begin to realize that fixed 30-year mortgage rates are now hovering around 5.07%.  That is a welcome relief from the 6.47% range we saw back at the end of October. Average 30-year fixed rates are headed toward, or perhaps even below, 4.75%, compared with 5.1% in a recent Freddie Mac survey. 

Please keep us in mind if you know of anyone planning to relocate to Las Vegas.  With a high volume of foreclosures on the market now, we are finding great homes at bargain prices for all of our qualified buyers. Short Sales are more of a hassle to work with but we are finding some excellent deals in that market as well.We have lots of buyers looking now so let us know when you hear of anyone needing to sell their homes and we will put our Team’s best heads together to market them successfully.

Until next time, have a great 2009! 

Tom and Mary Kay