Regardless, this time lapse video of the city center construction is awesome.  Enjoy!

Las Vegas City Center – ( Time-Lapse Build )

There is another fight venue that includes the UFC putting a free fight on Spike TV.  The funny thing  is they have Randy Couture headlining that fight card.  He used to be one of the main draws just a year ago, but with his recent loss to Lesnar has taken Couture’s marketability a notch down. One nice thing about the Free UFC fights on Spike is they usually precede it with old UFC fights.  Usually the good ones and not the boring fights.

The forecast was suppose to be rain this weekend but there are no clouds.  Of course these weatherman never get it right.  However, it is still extremely cold.  Highs in the 60s and the lows in the 40s.   Hard to believe we are having winter weather in the fall.  Thanksgiving is around the corner but the sales have already started.  There sure some great deals to be had.  I personally don’t like crowds so I will not be one of the people running to the stores to get these great deals on TVs, laptops, and all sorts of video gadgets.   No worries though, since I expect the prices to drop as we get closer to Christmas, and even lower after the New Year starts.

Back to the fights,  I finished watching the 24/7 series on HBO.  I have to admit watching both Pacquiao and Cotto in the series, they both come across humble.  I like that neither want talks smack and that they are both great boxers in their own right.  Even though Pacquiao is the favorite at 3-1 and Cotto is the underdog,  I believe Cotto punches harder, has a good chin, and definitely has a chance to win.  So don’t write him off because he put on great performances against Zab Judah and Shane Mosely who were also very quick.  I think many boxing analysts are discounting Cotto’s strength and powerful punches.  This will be Manny’s toughest fight to date.    If this card by some chance goes to decision, I would expect the fan favorite Manny Pacquiao to take the decision.

I also finished watching the movie The Ugly Truth and blogged about it on my movie blog.  I used to write about my movies that I watched here but am trying to keep everything more organized and put my thoughts over there.  If you get a chance to swing by I would appreciate it.  Have a great weekend!

Thank goodness for youtube. Enjoy!

Jaywalking – Viva Las Vegas!

These are local Las Vegas real estate agents but listen to what they say because it makes sense.  There are many banks just sitting on their foreclosures or REOs.  With the new rule, they are allowed to “mark to market” the asset (houses) as long as they hold on to it.  This is providing a false bottom in the housing market and will delay the inevitable.  It is also a legal way of misleading investors in my opinion.

Las Vegas Real Estate Update-Where are all of the bank owned properties?

Obviously, this is not just happening in Nevada but in all hard hit foreclosure states like California, Arizona, an Florida. I wonder if this is why many houses are just sitting empty because they have a new legal method of not reporting losses and overstating asset values.

Wikipedia:

On March 10, 2009, In remarks made in the Council on Foreign Relations in Washington, Federal Reserve Chairman Ben Bernanke^[18] said, “We should review regulatory policies and accounting rules to ensure that they do not induce excessive (swings in the financial system and economy)”. Although he doesn’t support the full suspension of basic proposition of Mark to Market principles, he is open to improving it and provide “guidance” on reasonable ways to value assets to reduce their pro- cyclical effects.

On March 16, 2009, FASB proposed allowing companies to use more leeway in valuing their assets under “mark-to-market” accounting, a move that could ease balance-sheet pressures many companies say they are feeling during the economic crisis. On April 2, 2009, after a 15-day public comment period, FASB eased the mark-to-market rules. Financial institutions are still required by the rules to mark transactions to market prices but more so in a steady market and less so when the market is inactive. To proponents of the rules, this removes the unnecessary “positive feedback loop” that can result in a deeply weakened economy.^[19]

On April 9, 2009, FASB issued the official update to FAS 157^[20] that eases the mark-to-market rules when the market is unsteady or inactive. Early adopters were allowed to apply the ruling as of March 15, 2009, and the rest as of June 15, 2009.

Companies can use the new guidance when issuing their first-quarter financial statements.^[21] Such changes could significantly boost banks’ statements of earnings and losses^[22]. The FASB changes, however, are for acceptable accounting standards applicable to a broad range of derivatives, not just banks holding mortgage-backed securities.

The only thing to make it perfect for me is to have it start raining which in this cold weather it could possibly turn to snow.  Some forecasts expect some rain to come tomorrow.

I remember when I visited last year before I moved here, it did actually snow.  It was very pretty and of course extremely cold.  When I drove back home to California, the snow stuck to the ground for a few days.  Needless to say, driving in this weather is no fun and extremely dangerous.

This is also great for hot coffee, hot chocolate and hot soup.  For some reason, the cold weather accentuates the goodness of these drinks or liquids.  My wife bought some European hot chocolates and we tried it out.  Wow!  It was some kind of chocolate mint flavor.  What can I say it was absolutely delicious and my wife spoils me.

Dancing with the Stars will be on later tonight with a double elimination .  I will blog about that later.

Thanks for visiting my blog and have a most excellent day.

This organization is helping more people in foreclosure or people who just can no longer afford their home and need lower payments but can’t get a modification directly from their lender because they are not past due.  What got me interested is they were able to help 20,000 people in the same day with real solutions.

I didn’t understand how this organization was able to do that until I watched a couple of youtube videos.  They already have agreements with all the major lenders and Fannie Mae and it looks like actual representatives from the Banks and Lenders are on site  to approve the restructuring of the loans.  In essence a true loan modification or restructure where payments, interest rates, and/or principal are reduced.

This organization is having a positive impact saving homes and families.  While the Bush and Obama administration have made efforts to try to help homeowners with taxpayer money with very little success, this non profit organization is helping hundreds of thousands of people without any taxpayer dollars and making a great impact.

Documentary: NACA’s “Save the Dream” – Mortgage Restructuring and Renegotiation Rescues Homeowners

It is a sad reality.  Check out the video with Lisa Ling.

Tunnel City Under Sin City: The Las Vegas Underground

I remember visiting both Seattle and San Francisco and going on tours of the underground cities and tunnels that exist under those cities. Until I went on the tours I wasn’t aware they even existed.