Monday, October 11, 2010

Foreclosure Freeze

How long can you live in a home once you stop making mortgage payments? Do you believe this free housing will increase or decrease if they stop all foreclosures?

QE3 is market manipulation in the secondary mortgage finance markets and will only to the government holding homes in inventory and losses to tax payers.


What will a foreclosure freeze do to home values?

How much market manipulation can the consumer really take before they just stop buying and wait?

Do you think you can trust market values when the banks and the government are controlling interest rates, down payments, underwriting standards, inventory, and the media's presentation of the news?

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Sunday, August 1, 2010

Water Shortages, Water Rights and Nevada’s Great Basin Water

The Great Basin is unique when it comes to water because the rivers have no outlet to the sea.
It is made up of many smaller drainage basins.

There is a complicated system of hydrology below the very interesting geology and topography of fractured, tilted plates of the Earth’s crust, that make up the Great Basin. Often referred to as Basin and Range because those tilted plates create mountain ranges that run from north to south. As the Earths crust stretched, cracked and tilted, it created large dry valleys or basins between the ranges. These basins can be compared to bowls that collect the snowmelt off the mountains. The alluvial fans are like great sponges, absorbing the meltwater into the ground. The snowpack is the primary recharge for the aquifers.

Nevada and the Great Basin is divided by the Nevada State Engineers Office into 256 ground water basins, some are “designated basins“. Designated basins, when it comes to water, may only be open to additional allocations for preferred uses, like municipalities for additional pumping.

Scientists are and have been measuring water table levels, spring flow rates, and precipitation for many years. We know pumping affects water table levels. We know the average precipitation, but then that is history. Today drought is in the news and many scientists believe more drought is likely in our future, due to climate pattern changes taking place. Future recharge rates are speculative.

They know the maximum consumption allowed by the existing recorded water rights. Not all basins are decreed and some additional rights could be out there and are not recorded but valid. Domestic wells are generally not considered, no permit is required to drill a domestic well, and they are limited to two acre feet per year in consumption.

The terminology of Hydrology seems very complicated, at least for this layperson. The science, like most science attempting to make future projections is speculative, especially the flows between the many basins and the aquifer recharge rates. New discoveries in all science fields rewrite what we thought we knew as fact, everyday.

Unfortunately, we may not have the answers to some of the most important questions until the water tables have dropped and the Seeps and Springs are gone. The scientists can not tell us when the flow rates of Seeps and the Springs may slow, or even dry up. The truth is they can only speculate. They do not know how drought will affect recharge rates of the aquifers, and they certainly do not know how long or severe the drought may be. There is far more that science is unsure of, than there is that can be actually guaranteed.

July 27, 2010 at the Aspen Institute's Environment Forum, Former U.S. Secretary of the Interior Bruce Babbitt at the “Hot and Dry: Water in the West and the World,” told the audience,

“Water scarcity is an issue, not everywhere, but in some regions. The American Southwest is not one of those regions where there is water scarcity. It's hard to believe given all the hyping in the national and local and regional press.”

This is right in line with Pat Mulroy’s statement when she said, “The hyperbole (hyper exaggerations) coming from rural Nevadan’s about their water table concerns was childish.”

You have to wonder what motivates Mr. Babbitt to say such a stupid thing, but then Pat Mulroy was also on the three person panel with him, and they were in Aspen Colorado. A poster child for conspicuous consumption and environmental lunatics. These are people who would like to tell you how many children you are allowed to have, and how large your carbon footprint can be, as they fly off in their private jet. They are asking for more of your dollars in the form of Obama’s Green stimulus money. Watch the forum videos!

They have already spent $ 80 Billion Dollars on Green stimulus bailout, and by the way, Harry Reid is claiming credit for the few short term jobs in Nevada this money created in his political race against Sharron Angle.

Southern Nevada Water Authority has proposed a pipeline from Las Vegas through Lincoln County and continuing into White Pine County on to the North. The Las Vegas Valley water district, now SNWA, filed 146 ground water applications in 1989 for undeveloped, unproven ground water in Eastern Nevada. This spark has lit the fuse for the battles to come. They do not at this time have approval for the water needed to supply this pipeline.

The Colorado River Compact allows Las Vegas 400,000 acre feet of water from Lake Mead. On average, one acre foot will supply two homes per year. A study by the Scripps Institution of Oceanography in San Diego said there's a 50 percent chance that Lake Mead, could run dry by 2021. In the last ten years Lake Mead has dropped from around 1200 ft. to below 1100 ft. today. At 1050 ft. Hoover Dam will stop generating electricity, and at 1000 ft. Las Vegas will lose the lower intake for the city‘s water supply.

Currently Lake Mead (The Colorado River) supplies 90% of the water to the Las Vegas Metro area. The Colorado River serves Arizona, California, Colorado, Nevada, New Mexico, Wyoming, Utah, and Mexico, over 30 million people live in this region. We now know that based on the twenty year river flow study leading up to the Colorado River Compact in 1922, the river was over allocated by one million acre feet when the compact was signed and the shortage has only become worse.

The NASA/German Aerospace Center Gravity Recovery and Climate Experiment (Grace) study has found since 2003 the aquifers for California's primary agricultural region the Central Valley and its major mountain water source the Sierra Nevada have lost nearly enough water combined to fill Lake Mead, America's largest reservoir. This area represents nearly one sixth of all the United States irrigated land and the dropping water tables have the potential to have huge implications to the US economy.

None of this news is new , in fact the warnings have been ignored for over one hundred years. Panelists Bruce Babbit, Pat Mulroy, Sandra Postel and The Aspen Institute’s Environment Forum are apparently more interested in advancing their agenda than dealing with facts and truth.

John Wesley Powell told the International Irrigation Congress in Los Angeles in 1893,

“You are piling up a heritage of conflict and litigation over the water rights, there is no sufficient water to supply the land.”

Many, many scientific studies today are clearly confirming his thoughts.

I wonder what John Wesley Powell would think today?

How limited are your water resources?

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Friday, May 28, 2010

Southern Nevada Water Authority's Water Problem

Is Las Vegas Running out of Water? Southern Nevada Water Authority’s Water Problem
May 26, 2010

I attended the Southern Nevada (CCIM) Certified Commercial Investment Managers Chapter monthly meeting at the Rio in Las Vegas. I went for one reason, the title and speaker, “How You May Be Impacted by Nevada’s Water Supply” presented by Pat Mulroy. Mrs. Mulroy is the general manager of Southern Nevada Water Authority.

As a long time real estate professional who specializes in agricultural land with water rights in Nevada, I talk with Nevada’s farmers and ranchers’ everyday; I was shocked by the introduction. The lady introducing Mrs. Mulroy said about her, among other things, how wonderful she is, how hard she works, how powerful she is, and then she said, “and something I’ll bet none of you know about her, She HATES COWS”.
Nevada Water Rights

Mrs. Mulroy took the stage and went on to say “anything that dumb and big has to be dangerous” referring to cattle. The crowd of men and women dressed in suits and ties laughed. I on the other hand, in my jeans, boots and a new western shirt, immediately took umbrage, and thought to myself, I wonder if this lady realizes where the food in the grocery store comes from.

Her presentation seemed to me to be based on the fear factor. She talked about snow pack in Colorado this past winter being at 67% of normal. She talked about continuing drought conditions.

She explained that Lake Mead is running an annual deficit of approximately 2.7 million acre feet this year. There are 8.2 million acre feet coming in and 10.9 million acre feet going out.

Mrs. Mulroy explained the Lake level measurements with future projections.

But first let me give you a little history, from 1939 to 2003 Lake Mead averaged 1173 foot elevation, the high water or maximum point for Lake Mead is 1229.

Today it stands at about 1094. Since the canyon narrows as it descends, the water level drops faster and faster as it is over drafted, so expect the drop to accelerate.

Mrs. Mulroy explained that at the 1088 foot elevation level they could lose the upper intake for the water supply to Boulder City and 40% of Las Vegas’s supply. The authority's Intake No.1 would be forced to shut down at elevation 1,050.

At 1050 Hoover Dam stops generating power. At 1000 Vegas loses the lower intake that would literally cut off 90% of the water supply to Las Vegas and all of the water supply to Boulder City.

Work has begun on a so called third straw. Michael Johnson, Virgin Valley Water District hydrologist, told me years ago the aquifer that runs under our Mesquite Valley travels under Lake Mead, could they tap into it?

Pat Mulroy said, SNWA will be utilizing all the water rights it owns or controls in the Virgin River, which runs through Mesquite/Bunkerville and the Muddy River in Moapa/Overton".

Southern Nevada Water Authority uses approximately 9.5 million acre feet per year, once Lake Mead goes below 1025 there is only 4 to 5 million acre feet of water left in the reservoir. She said "the pipeline will start construction in 2012 if the lake goes below 1075, period!"

She said ”If I have to set up a cot in Harry Reid’s office, I will stay until I get a permanent chair”. I did not know Harry passed out water rights! That job belongs to the State Engineer.

She said “the hyperbole (hyper exaggerations) coming from rural Nevadan’s about their water table concerns was childish.” She went on to say “the rural Nevada farmers and ranchers are being Pig Headed.”

She referenced a recent USGS Basin and Range study that she claims shows plenty of extra water. I have not yet located any completed study; http://ut.water.usgs.gov/projects/greatbasin/

What makes you think they will stop in White Pine County?

Finally for the record, she said “there are plenty of un-appropriated water rights in Nevada and the Snake Basin is next in her sights.”

She appears to me to be dead set on tapping into and draining rural East Central and Northern Nevada, Western Utah and Southern Idaho’s aquifers to supply Las Vegas. They did it to Pahrump, Nevada

When I questioned her, she lashed out at me, “Do you have a better idea?”

She may be powerful, but based on her comments, attitude and general demeanor; clearly she is not as sharp as you would expect!

That does not mean you should underestimate her ability or determination to get this done.

You can learn more about me by searching “Irrigated Nevada farm and ranch land with water rights for sale” on any search engine.

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Sunday, May 23, 2010

Nevada Ranch Land and Irrigated Farm Land with Water Rights For Sale

Nevada Ranch and Farm Land with Water Rights Issues




Are you unsure if all the hype about water and food shortages in the future is real or just?

The science is mounting and it is not any one single cause or source. You may not buy into global warming or maybe you do and just do not believe it is man caused. Either way drought is real.

As mentioned the science is mounting in favor of serious problems in coming decades for mankind’s ability to provide adequate fresh drinking water and food to the increasing billions of us on the planet.

In previous blogs I have referenced National Geographic’s April 2010 Special Issue, “Water Our Thirsty World”. They clearly believe we have a problem already in many parts of the world including parts of the United States.

A new study called, the gravity recovery and climate experiment, or GRACE shows the following.

“Combined, California's Sacramento and San Joaquin drainage basins have shed more than 30 cubic kilometers of water since late 2003, said Jay Famiglietti, UCI Earth system science professor and director of the UC Center for Hydrologic Modeling. A cubic kilometer is about 264.2 billion gallons, enough to fill 400,000 Olympic-size pools. The bulk of the loss occurred in the state's agricultural Central Valley. The Central Valley depends on irrigation from both groundwater wells and diverted surface water.

"GRACE data reveal groundwater in these basins is being pumped for irrigation at rates that are not sustainable if current trends continue," Famiglietti said. "This is leading to declining water tables, water shortages, decreasing crop sizes and continued land subsidence. The findings have major implications for the U.S. economy, as California's Central Valley is home to one-sixth of all U.S. irrigated land and the state leads the nation in agricultural production and exports."


The loss is nearly enough to fill Lake Mead, America’s largest reservoir and Las Vegas Nevada’s primary water source. The Central Valley’s major source of water comes from the Sierra Nevada Mountain Range.

Source: University of California - Irvine (2009, December 15). California's troubled waters: Satellite-based findings reveal significant groundwater loss in Central Valley. ScienceDaily. Retrieved May 23, 2010, from http://www.sciencedaily.com/releases/2009/12/091214152022.htm

Next week I will be attending a luncheon in Las Vegas;
How You May be Impacted by Nevada’s Water Supply
Presentation by: Pat Mulroy
General Manager, Southern Nevada Water Authority

I will report what she has to say about our water in Nevada.

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Tuesday, May 18, 2010

Retire Secure, Happy, Healthy and Self Sufficient

The UN may be wrong about the world’s oceans running out of fish
http://news.yahoo.com/s/afp/20100518/ts_afp/speciesfishunus/

The news about food shortages today and tomorrow may be wrong
http://en.wikipedia.org/wiki/Food_security/

The news about fresh water shortages may be wrong
http://environmentalism.suite101.com/article.cfm/environmental_cost_of_global_freshwater_shortage

The IMF may wrong about fiscal deficits and global financial crisis
http://www.imf.org/external/pubs/ft/survey/so/2009/RES111009A.htm

Al Gore and his wacky environmental friends may be wrong about global warming
http://www.msnbc.msn.com/id/17718399

This writer seems be advocating a China approach, “But if resources are limited, the last thing we need is a growing population. We would be better off with a smaller population, so that earth’s limited resources can be shared among a smaller number of people, providing more for each person. If families start having only one child each, this would be helpful from a resources point of view, but it would make it even more difficult to pay off out all of the outstanding debt, in addition to paying for Social Security and Medicare benefits for all the seniors.” From The Intelligence Daily
http://www.inteldaily.com/2010/04/social-security-and-medicare-funding-issues-even-worse-when-one-considers-resource-constraints

These people believe it is government’s responsibility, “Governments are responsible for providing access to adequate food to eliminate hunger, malnutrition and starvation.
http://www.hrea.org/index.php?base_id=145

Obama and his crowd would probably go for this idea! Actually they may be taking us down this road of becoming a totally dependant society deliberately.

These people say oil sands may as hazardous as the Gulf oil leak, “Oil sands development is 'kind of like the gulf spill but playing out in slow motion', said report co-author Doug Cogan, director of climate risk management at RiskMetrics. He called it a 'land-based' version of the gulf disaster.” http://www.globalissues.org/news/2010/05/17/5627

Much of this information feels like it is presented with a bias agenda, and some seem to lack basic common sense, whether it is backed by a guy with a degree in a science field or not.

We do know between 15,000 to 25,000 children die each day around the world because of malnutrition and water borne disease. We do know malnutrition is a serious problem in the United States for seniors and children living in poverty.

We do know we are overdrafting aquifers around the world and fresh water tables are dropping in many parts of the United States and around the world.

We do know the demand for food and fresh water will increase as the world’s population increases.

Many around the world can not help themselves out of this daily nightmare. Unfortunately this scenario is going to get worse as we place greater demand on finite resources.

Many are convinced these trends will lead to a resurgence in rural America. So there you have it, my agenda. I sell rural land in Nevada with water rights. A place where you can create a sustainable self sufficient lifestyle that could protect you from becoming a statistic.

Lifestyle is what draws most people to rural living; it gives them a sense of getting back to their fundamental roots. Raising a garden, chickens that lay fresh eggs, fruit trees and farm raised meats.

I am convinced economics, urban blight and a desire for an active productive lifestyle will bring many more to consider affordable rural lifestyles. Retired does not mean dead, although it might if you don’t stay active.

When you combine a nice little piece of land and a small efficient home with proper solar orientation, a mild climate, some good dirt and water, you have the basic recipe.

Marketing to retirees has largely been focused on golf, activity/recreation center with social clubs in large planned unit developments, which is fine for some, but there are other options.

Your grand children will enjoy visiting your “farm”.

I have some good friends, they live in what he and his wife lovingly refer to as their “bunk house”, it is small but quite luxurious. It is completely solar, with propane and a wood burning stove. A solar pump provides water. They raise most all their own food, and have a nice little income from extra produce sold at the farmers market. They have television and internet, and a small green house. They tell me this new lifestyle is the greatest thing they have ever done, short of raising some great kids. They are some of the happiest people I know!

They also tell me they sleep very well at night knowing that no matter goes on in the world, they “feel” secure.

Our ancestors lived off the land; you can go back to a slower, simpler, more rewarding way of life. The biggest difference today from back then is modern technology. Instead of plowing your garden behind a horse, you can ride a small tractor. You can raise chickens to lay eggs or broilers that are designed to be eaten. You can have peacocks and geese as watch dogs and security systems.

We are looking at and working on developing larger tracts for mini farms. Some bankers seem to think this idea is crazy and have told me no one will ever buy it. I would appreciate your thoughts, ideas, and input. Does this make sense to you?

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Tuesday, April 20, 2010

Water Rights,Irrigated Nevada Farm and Ranch Land with Water Rights, Nevada Cattle Ranches For Sale

In an effort to improve exposure and reach a broader for the Nevada irrigated farm and ranch land with water rights business market Chris W. Miller is proud to announce his new association with:

Independence Realty
Reno and Las Vegas Real Estate and Western Nevada Properties
Leo Dupre, Broker-Owner, Independence Realty 775-691-8888
1005 Terminal Way, Suite 155 Reno, NV 89502
460 W. Main St #101, Fernley, NV 89408
8275 S. Eastern Ave. #200 Las Vegas, NV 89123
Serving Las Vegas, Reno-Sparks, Virginia City and Fernley


My new association with these offices will give the many Nevada farm and ranch land properties with water rights listed with me greater exposure to the entire state of Nevada irrigated farm and ranch land with water rights market. Property listings will soon be available on the Las Vegas and Northern Nevada MLS systems.

To discuss buying or selling Irrigated Nevada farm and ranch land with water rights call Chris today.
Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

Saturday, February 20, 2010

You will never see the big picture looking a one piece of the puzzle

Let’s start with the easy pieces, the edge pieces, the positive aspects of the current housing market.

Home sales are up in Mesquite, Nevada from 15 closings in January 2009 to 39 in January 2010, huge increase in closings. Price per square foot dropped from an average of $120 in January 2009 to $100 per square foot in January 2010. This was stimulated by Federal tax dollars in the form of tax buyer credits that would be your money!

Single family new home building permits are up in Mesquite from 1 in January 2009 to 22 in January 2010. That adds to the competitiveness of the market, the supply side.

Trying to keep it positive here, mortgage interest rates are still near historic lows.

The Home Builders Index of confidence rose 2 points to 17. A score of 50 or more on the index indicates that more builders view conditions as favorable rather than unfavorable.

Access Research & Consulting Inc. estimates that the number of mortgage brokerage firms is down from a peak of 53,000 in 2004 to less than 15,000; this may be a good thing.

Now we can start into the middle of the picture, the harder pieces of the puzzle.

Realty Trac reported January 2010 foreclosures were above 300,000 for the eleventh straight month, and up 15% from January last year. US Home ownership is back down to levels not seen since 2000.

Private mortgage insurance companies are dropping like moths flying into the flames of a blazing fire. Short sales and foreclosures are literally wiping them out.

Mortgage underwriting standards are getting tighter everyday, shrinking the pool of eligible qualified potential home buyers. Even FHA has made it tougher to qualify for a mortgage. This piece is part of the demand side.

By most industry estimates, there are eight million delinquent mortgages in the US today and only a very small percent of the mortgage modifications are actually working. The re-default rate continues to climb. Only 66,000 are considered permanent of 900,000 of those who are enrolled in trial modification programs.

3.4 million Homes in the Treasury Department's Making Home Ownership Affordable (HAMP) are currently 60 days or more delinquent.

There are a half trillion dollars of mortgages still out there that will reset or adjust over the next twenty four months. Many of these homeowners are not prepared for the higher cost of housing headed their way.

The picture is coming together, but there are still some pieces missing.

The shadow inventory is out there in various forms, and the number of homes sitting vacant is at a historic high. Many are owned by institutions, others are owned by individuals, all are waiting for the market to improve. Then there are the sellers who would like to sell but can not or will not sell at current prices. At some point they will have to liquidate this inventory.

We should all hope Fannie Mae, Freddie Mac, and the others will slowly ease this inventory into the market. Some industry experts believe it could take as long as three years for the market to absorb this shadow inventory of homes.

If they dump a wave or waves of distressed property into the market, it will drive down prices further and create a huge opportunity for those in a position to capitalize on the low prices.

The Federal Reserve’s 1.25 trillion dollar fund set up to buy mortgage backed securities is nearly spent. Without the support of this emergency fund, the secondary mortgage money market is bound to drive rates higher for consumers.

The effect of higher interest rates is to make housing less affordable and reduce the buyer pool, again reducing the demand side.

What the real estate market needs is jobs and time. Jobs will help people stay in the homes they currently own. Jobs will slow foreclosures, help mortgage modifications work, and create new demand.

Time will heal credit, time will clear inventory, and in time the market will find balance again.

Now step back and look close, with all the pieces of the puzzle in place. Where do you think the market will go over the next six months, twelve months, and twenty four months?

Remember Mesquite, Nevada is a prime retirement community with a very bright future offering a low tax structure, excellent weather with nearly constant sunshine, premiere golf courses, excellent outdoor opportunities, gaming and all located within an hour’s drive of Las Vegas.

Chris W. Miller
Vegas Grand Realty and Property Management
435-862-5951
702-990-5951

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market