My Pesonal Comments and Some Las Vegas Trivia

Here we go again. Multiple offers abound. I showed property two weeks ago to three different Buyers. There were already many offers on every property of interest. On top of that these houses were either short sales or bank foreclosures which means a bank was involved in the acceptance. Two of my offers were rejected right away. Two were accepted but are short sales so there is no telling when and if they may actually close escrow. And, two offers are still presented with no response. That was two weeks ago. I can only imagine how many more offers have come in on these properties.


OK, I've told you the negative part of this but the upside is that with any luck our prices will stop declining. It is my hope that we will only go through this for awhile and then the Market will begin to stabilize. I have sold Real Estate for twenty years and I long for the good old days when a Seller wanted to sell their home and a buyer wanted to purchase it. They came to their agreement and proceeded to go through escrow and the closing. Usually at the end everyone was happy.

Maybe we are on our way back to those times.



Las Vegas Trivia Question:

In 1967 do you know at what Las Vegas Strip Hotel and what casino executive had an altercation with Frank Sinatra, ultimately punching Frank in the mouth damaging his front teeth? A visit to the dentist was a must.



Answer:

That man was Carl Cohen, one of Las Vegas's influential and early hotel/casino operators. It is noted in the book Hang Tough by Grant Sawyer, Gary E. Elliott and R. T. King that Carl Cohen had a 10% ownership in the Sands before Howard Hughes purchased it. Grant Sawyer, our governor, was elected in 1959.













Everyone was surprised by this incident because Mr. Cohen was known as a mild manner fellow. Howard Hughes was now the owner of the Sands and Sinatra supposedly was not happy with their new accounting practices which evidently had tightened the ability to get casino credit. It was said that Cohen became unleashed when Sinatra threw a chair.