(Originally posted on June 12, 2007)
Long time no see
It's been 23 days since I've last written an entry, and it's not for lack of things to talk about. I've just been trying to wrap my mind around the changing market, and every time I think I'm ready to write, more news arrives on the horizon.
When I first began this blog, my commitment was to be positive - not report more negative news along with the masses. In an effort to retain my integrity, I'm going to talk about short sales and the "F" word - foreclosures, with a focus on buyers.
There's a tsunami coming in real estate
Ominous heading, isn't it? Back on April 29th, my blog entry was about short sales. On that day, there were 1,518 short sales, 880 foreclosures and 25,744 listings in Las Vegas. Today, a month and a half later, here's the numbers: 2,015 short sales, 1,205 foreclosures and 26,951 listings. That's a 33% increase in short sales and a 37% increase in foreclosures.
As a refresher, a short sale is also known as pre-foreclosure. The homeowner is in trouble financially, asks for a reduction in the amount owed on the loan from the lender so the seller can price their home competitively. The bad part is that whatever amount the lender forgives, they send a 1099 for the write-off, which the homeowner is supposed to pay taxes on to the IRS. That's not the point, though.
Let's go back to today's short sale number - 2,015. In about 240 days, these short sales will be foreclosures. That means the bank owns the home, and banks aren't in the business of having real estate as inventory. They have to get rid of the homes. How do they do that? Cut the price.
The bad news
If your home is listed for sale, or you're contemplating selling in the near future, listen carefully. You have a very short window of opportunity to sell your home. If your Realtor suggested a lower listing price than you would agree to, and you got your way - pick up the phone right now and call them up. (It's okay, I'll wait.)
You see, when that tsunami of foreclosures hits, you'll be competing against sellers with no emotional ties to your competing home. It will be slash and burn. I promise you, we haven't seen this before, and it's not going to be pretty. Now is the time to take stock of what your goal is - make a modest profit, break even, or cut your losses and get out of Dodge. I can tell you from personal experience that almost every listing I have has been reduced this week.
Here's a link to an article on SmartMoney.com - it corroborates the information I've given here.
http://realestate.msn.com/buying/Article_sm.aspx?cp-documentid=4819932
The good news
If you're a buyer, you are going to have lots of homes to choose from, so start saving your down payment, and put on comfortable shoes because we'll be running all over the place together.
Now remember, I said this was a tsunami, not a perfect storm. Of course I can't predict where interest rates will be in 6-8 months, but today there was a frenzy in the mortgage rates due to a slip of the tongue by Ben Bernanke, rates climbed a point or more today. In a perfect storm, we'd have low, low rates along with 2004 home prices. We'll see, maybe it will still happen. As long as you're on the buying side, it could be a happy time. However, with the sheer volume of foreclosures we're talking about, someone you know will be effected in a negative way.
You get what you pay for
Due to the investor market in 2004-2005, there are short sales and foreclosures in Las Vegas that look like model homes. Why? Because nobody ever lived in them! That's why they're being foreclosed on. No renter, no ability to flip, negative equity every month = financial disaster.
A picture perfect home in foreclosure is not the norm, though. I've seen more foreclosures than I care to admit, and they're not pretty. In fact, it's quite sad. On the mild side, you see remnants of people's lives left behind, not important enough to take with them, or no room to store their stuff wherever they're going.
On the harsher side, you see total destruction. Folks who vent their frustration of being evicted on everything they held dear. I've seen demolished drywall, doors off hinges, plumbing wrenched from the walls, graffiti - you name it, I've seen it.
No bargain
The average buyer looking at a foreclosure isn't going to buy one. It's too much work, there's too much unknown. How much will the repairs cost? What damage is done that I don't know about? Foreclosures are sold "as-is" and that's not something I'm prepared to gamble on. A mortgage on a money pit is not my idea of fun.
Bottom line
If you're a buyer, explore all avenues of available homes. I just suggest you don't wait for this "tsunami" and expect to hit paydirt - because I think there's just a lot of fool's gold to be had. If you're a seller, take my advice to heart - sell while you can at a price you can live with.
Saturday, May 17, 2008
Everyone is vulnerable to Identity Theft
(Originally posted on May 20, 2007)
It won't happen to me
We've all seen the funny commercials that Citibank runs where the little old lady is channeling the voice of a street thug, telling the story of all the stuff she just bought. We all laugh and think it's clever advertising - until it happens to you.
They did WHAT?
While I out shopping, my wife calls on my cell phone in a panic. She says, "Do you have your American Express card?" "Yeah, it's in my wallet." "Double check", she says.
My wife was on the phone with Citibank security, and they were calling due to some suspicious activity on my American Express card. It seems that within a half hour, almost $5,000 was charged on my card -- all over New York. New York! Hey, I'm in Las Vegas, and the card is in my hand!
Will the real Mark Karten please stand up?
It seems thieves don't have to pick your pockets anymore. In my case, I had bought something on the internet, and the (less than reputable) company I purchased a Bluetooth headset from seemed to have helped themselves to my credit.
However, they didn't just use my card number, they made a phony credit card. Wow, that was pretty surprising to me. The good news is that it was caught early by Citibank, the bad news is that I had to fill out an affidavit that the card was stolen, and work with the fraud department so that it wouldn't be a part of my credit report.
What does this have to do with Real Estate?
No matter what you read in the papers, there are no lack of people who want to buy a home, especially in Las Vegas. What's stopping a lot of them is their credit. Unfortunately, much of the problems with their credit are self-inflicted. Many of these problems can be overcome by having a down payment. If you can put 20% of the purchase price down on your home, 9 times out of 10, you can start packing.
I have come across some folks who were the victims of identity theft, and here's my point. It takes a lot of work to clean up your credit report once this happens to you. Each year, 9 million Americans will become a victim.
Your FREE gift
As a public service, I am helping distribute the "Identity Theft Prevention and Response Manual." You can visit my website at www.YouCanAffordVegas.com and download your free copy. If you, or anyone you know ever needs this, by having a copy handy will save you lots of time in minimizing the damage to your credit, and future purchases. I hope you never need to use it.
It won't happen to me
We've all seen the funny commercials that Citibank runs where the little old lady is channeling the voice of a street thug, telling the story of all the stuff she just bought. We all laugh and think it's clever advertising - until it happens to you.
They did WHAT?
While I out shopping, my wife calls on my cell phone in a panic. She says, "Do you have your American Express card?" "Yeah, it's in my wallet." "Double check", she says.
My wife was on the phone with Citibank security, and they were calling due to some suspicious activity on my American Express card. It seems that within a half hour, almost $5,000 was charged on my card -- all over New York. New York! Hey, I'm in Las Vegas, and the card is in my hand!
Will the real Mark Karten please stand up?
It seems thieves don't have to pick your pockets anymore. In my case, I had bought something on the internet, and the (less than reputable) company I purchased a Bluetooth headset from seemed to have helped themselves to my credit.
However, they didn't just use my card number, they made a phony credit card. Wow, that was pretty surprising to me. The good news is that it was caught early by Citibank, the bad news is that I had to fill out an affidavit that the card was stolen, and work with the fraud department so that it wouldn't be a part of my credit report.
What does this have to do with Real Estate?
No matter what you read in the papers, there are no lack of people who want to buy a home, especially in Las Vegas. What's stopping a lot of them is their credit. Unfortunately, much of the problems with their credit are self-inflicted. Many of these problems can be overcome by having a down payment. If you can put 20% of the purchase price down on your home, 9 times out of 10, you can start packing.
I have come across some folks who were the victims of identity theft, and here's my point. It takes a lot of work to clean up your credit report once this happens to you. Each year, 9 million Americans will become a victim.
Your FREE gift
As a public service, I am helping distribute the "Identity Theft Prevention and Response Manual." You can visit my website at www.YouCanAffordVegas.com and download your free copy. If you, or anyone you know ever needs this, by having a copy handy will save you lots of time in minimizing the damage to your credit, and future purchases. I hope you never need to use it.
Credit - Can you buy a home now?
(Originally posted on May 15, 2007)
What's in your wallet?
I don't know about the rest of the country, but in Las Vegas it seems there's no such thing as a savings account. Maybe that's the American way, spend everything you make and then some. That's fine for awhile, but when you realize you want to achieve the American dream of homeownership, you've got trouble.
With the meltdown of the sub-prime lending market, the word on the street is that unless you have great credit, you can't get a loan. Fortunately, that just isn't true. Lenders are still offering different programs to help first-time homebuyers, including 100% financing, allowing gifts from family members towards your down payment, consideration for some collections, and even loans for folks with FICO scores as low as 500. The interest rates aren't the most attractive, but that's understandable considering the risk the lender is taking.
Time is of the essence
It's no secret we're in a buyer's market. This means that prices have dropped dramatically, and in fact, there are lots of great homes available at or below 2005 prices. If you are considering purchasing a home, don't assume you can't get a loan. If you earn tips, haven't been on the job for 2 years, have collections - you can still qualify. The important part is to apply. Once you know your challenges, you can start to fix them or even buy now.
Ch-ch-ch-ch-choices
No one will argue that renting is just paying someone else's mortgage. There is a way to get into a home with little down now, a slightly higher monthly payment, and a nice credit towards your downpayment in a year. This is called a lease/purchase option.
With a lease/purchase, you first get pre-qualified for a loan. If the lender says you have issues to overcome, but that you can purchase in about a year, a lease/purchase may be right for you. The lender will tell you how much payment you qualify for based on your income and debts. They will also tell you how much the maximum purchase price of your home should be. Once this is determined, you need to work with a Realtor to show you properties where the owner is flexible to sell as a lease/purchase.
Let's say you find a beautiful condo for $140,000. There are three steps in the process. First you negotiate your best price. Once accepted, you sign a purchase agreement, lease agreement and option agreement. The purchase agreement says you're going to buy the house for a pre-determined amount. The lease agreement says that you're going to rent the home for $XX for one year. The option agreement says you're going to give the seller a few thousand dollars to offer you an option to buy the home. It also says that a portion of your monthly rent will go towards your downpayment at the end of the lease. The bottom line is that you now have one year to fix any issues that are stopping you from buying, save money towards your down payment (through your rent payments) and you've locked in a low price.
At the end of one year, your credit should be improved, you will have money saved towards your down payment, and you're already in your home. This is a very attractive option, and more and more sellers are offering this to potential buyers.
Knowledge is power
Don't assume you can't buy because of what you've heard has happened to other people. Everyone's issues are different, and you need to find out how you can buy a home for yourself. It's very important to know what your credit report says. You don't want to delay buying the home of your dreams if there's an issue you need to clear up first. Once a year, everyone can get a copy of their credit report from all three credit bureaus. It's as easy as going to a website. In fact, here's the link:
https://www.annualcreditreport.com/cra/index.jsp
If you find any discrepancies, you'll be able to dispute them right away, and this can save you a lot of time when you're ready to buy.
The bottom line
As a buyer, it's important to work with a Realtor. First, it costs you nothing, as the Realtor is compensated by the seller. Second, we have the experience to help make the largest purchase of your life a smooth transaction, with minimum stress and hassle.
The pendulum has swung and now it's the buyer's turn to make homeownership a reality. Start your search today.
What's in your wallet?
I don't know about the rest of the country, but in Las Vegas it seems there's no such thing as a savings account. Maybe that's the American way, spend everything you make and then some. That's fine for awhile, but when you realize you want to achieve the American dream of homeownership, you've got trouble.
With the meltdown of the sub-prime lending market, the word on the street is that unless you have great credit, you can't get a loan. Fortunately, that just isn't true. Lenders are still offering different programs to help first-time homebuyers, including 100% financing, allowing gifts from family members towards your down payment, consideration for some collections, and even loans for folks with FICO scores as low as 500. The interest rates aren't the most attractive, but that's understandable considering the risk the lender is taking.
Time is of the essence
It's no secret we're in a buyer's market. This means that prices have dropped dramatically, and in fact, there are lots of great homes available at or below 2005 prices. If you are considering purchasing a home, don't assume you can't get a loan. If you earn tips, haven't been on the job for 2 years, have collections - you can still qualify. The important part is to apply. Once you know your challenges, you can start to fix them or even buy now.
Ch-ch-ch-ch-choices
No one will argue that renting is just paying someone else's mortgage. There is a way to get into a home with little down now, a slightly higher monthly payment, and a nice credit towards your downpayment in a year. This is called a lease/purchase option.
With a lease/purchase, you first get pre-qualified for a loan. If the lender says you have issues to overcome, but that you can purchase in about a year, a lease/purchase may be right for you. The lender will tell you how much payment you qualify for based on your income and debts. They will also tell you how much the maximum purchase price of your home should be. Once this is determined, you need to work with a Realtor to show you properties where the owner is flexible to sell as a lease/purchase.
Let's say you find a beautiful condo for $140,000. There are three steps in the process. First you negotiate your best price. Once accepted, you sign a purchase agreement, lease agreement and option agreement. The purchase agreement says you're going to buy the house for a pre-determined amount. The lease agreement says that you're going to rent the home for $XX for one year. The option agreement says you're going to give the seller a few thousand dollars to offer you an option to buy the home. It also says that a portion of your monthly rent will go towards your downpayment at the end of the lease. The bottom line is that you now have one year to fix any issues that are stopping you from buying, save money towards your down payment (through your rent payments) and you've locked in a low price.
At the end of one year, your credit should be improved, you will have money saved towards your down payment, and you're already in your home. This is a very attractive option, and more and more sellers are offering this to potential buyers.
Knowledge is power
Don't assume you can't buy because of what you've heard has happened to other people. Everyone's issues are different, and you need to find out how you can buy a home for yourself. It's very important to know what your credit report says. You don't want to delay buying the home of your dreams if there's an issue you need to clear up first. Once a year, everyone can get a copy of their credit report from all three credit bureaus. It's as easy as going to a website. In fact, here's the link:
https://www.annualcreditreport.com/cra/index.jsp
If you find any discrepancies, you'll be able to dispute them right away, and this can save you a lot of time when you're ready to buy.
The bottom line
As a buyer, it's important to work with a Realtor. First, it costs you nothing, as the Realtor is compensated by the seller. Second, we have the experience to help make the largest purchase of your life a smooth transaction, with minimum stress and hassle.
The pendulum has swung and now it's the buyer's turn to make homeownership a reality. Start your search today.
NY vs. Vegas - Part 3
(Originally posted on May 13, 2007)
That’s Entertainment
I don’t think that anyone will argue that New York is the baseline for entertainment. Between the Broadway theaters, Radio City Music Hall, Lincoln Center, Carnegie Hall (just to name a few) it doesn’t get any better. That being said, you need to take in the big picture of getting to and affording entertainment in New York. It’s a hassle to go into the city, and expensive.
The benefit of Las Vegas is that you have more entertainment than anywhere in the world, and it’s readily available, starting at FREE. (Why is FREE such a happy looking word?) Most of the major hotels put on a daily show that costs them millions of dollars to produce, such as: Treasure Island’s “Sirens of TI” which is performed four times a night outside the hotel. The Bellagio has an incredible water show called the “Fountains of Bellagio” which is set to music and is totally mesmerizing. Finally, at the Rio, “Masquerade Show in the Sky” is performed daily and is like going to Mardi Gras in New Orleans.
More stars than a moonless night
Las Vegas has always been known for its headliners. Back to Frank Sinatra, the Rat Pack, Elvis and every comedian known to mankind, the Strip has hosted them all. Why? The casinos want to get you in their doors, and Los Angeles is a 45 minute flight away (where most of the stars live). Here you can see Celine Dion, Elton John, Jerry Seinfeld, Barry Manilow, Prince or Toni Braxton on almost any given night. All the top entertainers come here to perform, either for the weekend or in concert, on a weekly basis. Whether it’s Avril Lavinge, Gwen Stefani, Liza Minelli, Madonna, Sting at venues like Pearl, 3121, MGM Grand Arena (our Madison Square Garden) or the Colesseum at Caesars, you’ll never be bored. That’s just music – for comedy, every comedian makes Vegas their second home – Ray Romano, Jay Leno, Don Rickles (yep, he’s still around and very funny), Rita Rudner, Howie Mandel, to name a few.
The Great White Way’s little brother
Broadway is a New York icon, no doubt. Vegas, however, has a miniature version that gives you the culture, without the sticker shock. Right now, we’ve got “Phantom”, “Spamalot”, “The Producers” and “Mamma Mia” playing. An interesting change to these shows is that they’ve removed the intermission and reduced the time to 90 minutes. You would think it would dramatically change the show, but it has only enhanced them.
The Circus, eh?
Back in 1999, Las Vegas was invaded by Canadians. You didn’t read about it in the news? Just look at any hotel billboard and you’ll see the result. Cirque Du Soleil, the circus filled with acrobats, dancers and illusionists (but no animals), has taken over Las Vegas. Their first show, “Mystere”, opened at Treasure Island in ’99, and is still one of the hottest tickets around.
Since the success of that show, we now have “KA” at MGM,” Zumanity” at NY/NY (an over 18 show),” O” at the Bellagio and “Love” at the Mirage. They also have limited run shows that come to town either for one night (Delirium) or for one month (Cavalia). Their original creative director, Franco Dragone, left Cirque and produced two new shows, one is Celine Dion’s (which is visually incredible) and “La Reve” at Wynn. Overall, Cirque has changed the landscape of entertainment in Vegas and just announced their newest show starring magician Criss Angel at the Luxor, opening in 2008.
Time, energy and distance
No, I’m not talking about the Star Trek show at the Hilton. I’m comparing what it takes to see a show in New York versus Vegas. Unless you live in Manhattan, going to see a Broadway show involves either driving through an hour’s traffic, then paying $30 or more to park, having an expensive dinner and then getting out of the city again – a schlep – as we say.
In Vegas, no matter where you live, you’re no more than 25 minutes from the Strip, valet parking is free, garage parking is plentiful (and free), and there are more food choices than you can shake a stick at (see part 2 of NY vs. Vegas for food choices).
The Price is Right
Since the major source of employment is the hotel and casino industry, either you’ll be working for a hotel, or someone you’re friends with will be. This is your direct link to discount and/or free show tickets. When a show is previewing (before opening night), they need to fill the seats for audience reaction. Hotel employees are usually the first to receive invitations to see these shows (before they even open). I have been given free tickets many times by folks who couldn’t use them, and you will most likely be in the same place someday.
Locals usually receive offers for 2 for 1 tickets in the mail to all the biggest shows, especially in the summer when tourism is down, due to heat. For those of us who gamble, comps are the way to get free show tickets and free meals, which depending on your luck (or lack thereof), they can treat you to every show in town.
Another source of free tickets are the performers themselves. This is a small town (especially compared to New York), and you can’t help but bump into the stars. If you read our gossip column “Norm!” in the Review-Journal, he devotes a portion of his daily column to who was seen where - and the list is always long. I had the opportunity to help out Gladys Knight, and was rewarded with two tickets to her show. In fact, I’ve lost count as to how many shows I’ve seen for free, and believe me, I have no connections here. Performers donate tickets to their shows to radio stations and newspaper contests to name just two, and winning is pretty easy.
Last, but not least
Of course, no story about entertainment in Vegas would be complete without the proverbial lounge acts and the “showgirl” shows. In just about every hotel, you can enjoy free entertainment nightly from the lounge acts that perform in the middle of the casinos. These are usually solo singers or small groups, but by and large, great entertainment (and FREE).
The next step are the stars from yesteryear, who come to perform to their legions of fans from days gone by. Johnny Mathis, The Lettermen, Gino Vanelli, Taylor Dayne, Frankie Valli, Neil Sedaka – they all perform here, and tickets usually start at $20.
And finally, the showgirls! Ah, those giant headdresses, sequins and elaborate costumes (well, except for the lack of tops). These are the shows that made Old Vegas famous, and still thrive today. The two shows that still pack ‘em in are “Jubilee!” at Bally’s – celebrating 23 years and still going strong and Folies Bergere at the Tropicana. Thankfully none of the original cast is still in the show – even the Vegas plastic surgeons aren’t that good. However, you can still see the original cocktail waitresses at the Tropicana, which is startling to see 65 year olds bringing you drinks. Only in Vegas.
The wrap up
Of course, nothing will ever replace New York - the energy, the history, the culture. Living in a city of 8 million people isn’t for everyone, however. Vegas may be the Disneyland version of New York, but it makes for a very nice life. Whether you’re raising a family, love the nightlife or move here for retirement, there’s something for everyone – certainly more than penny slots and $3.95 buffets.
I hope that my comparisons of both cities can help someone decide whether Vegas is a city they can see themselves living in. I used broad strokes in painting the city, but if you need greater detail about any aspect of Vegas, I’ll happily oblige. If you have any show tickets, you can’t use – you know where to find me.
That’s Entertainment
I don’t think that anyone will argue that New York is the baseline for entertainment. Between the Broadway theaters, Radio City Music Hall, Lincoln Center, Carnegie Hall (just to name a few) it doesn’t get any better. That being said, you need to take in the big picture of getting to and affording entertainment in New York. It’s a hassle to go into the city, and expensive.
The benefit of Las Vegas is that you have more entertainment than anywhere in the world, and it’s readily available, starting at FREE. (Why is FREE such a happy looking word?) Most of the major hotels put on a daily show that costs them millions of dollars to produce, such as: Treasure Island’s “Sirens of TI” which is performed four times a night outside the hotel. The Bellagio has an incredible water show called the “Fountains of Bellagio” which is set to music and is totally mesmerizing. Finally, at the Rio, “Masquerade Show in the Sky” is performed daily and is like going to Mardi Gras in New Orleans.
More stars than a moonless night
Las Vegas has always been known for its headliners. Back to Frank Sinatra, the Rat Pack, Elvis and every comedian known to mankind, the Strip has hosted them all. Why? The casinos want to get you in their doors, and Los Angeles is a 45 minute flight away (where most of the stars live). Here you can see Celine Dion, Elton John, Jerry Seinfeld, Barry Manilow, Prince or Toni Braxton on almost any given night. All the top entertainers come here to perform, either for the weekend or in concert, on a weekly basis. Whether it’s Avril Lavinge, Gwen Stefani, Liza Minelli, Madonna, Sting at venues like Pearl, 3121, MGM Grand Arena (our Madison Square Garden) or the Colesseum at Caesars, you’ll never be bored. That’s just music – for comedy, every comedian makes Vegas their second home – Ray Romano, Jay Leno, Don Rickles (yep, he’s still around and very funny), Rita Rudner, Howie Mandel, to name a few.
The Great White Way’s little brother
Broadway is a New York icon, no doubt. Vegas, however, has a miniature version that gives you the culture, without the sticker shock. Right now, we’ve got “Phantom”, “Spamalot”, “The Producers” and “Mamma Mia” playing. An interesting change to these shows is that they’ve removed the intermission and reduced the time to 90 minutes. You would think it would dramatically change the show, but it has only enhanced them.
The Circus, eh?
Back in 1999, Las Vegas was invaded by Canadians. You didn’t read about it in the news? Just look at any hotel billboard and you’ll see the result. Cirque Du Soleil, the circus filled with acrobats, dancers and illusionists (but no animals), has taken over Las Vegas. Their first show, “Mystere”, opened at Treasure Island in ’99, and is still one of the hottest tickets around.
Since the success of that show, we now have “KA” at MGM,” Zumanity” at NY/NY (an over 18 show),” O” at the Bellagio and “Love” at the Mirage. They also have limited run shows that come to town either for one night (Delirium) or for one month (Cavalia). Their original creative director, Franco Dragone, left Cirque and produced two new shows, one is Celine Dion’s (which is visually incredible) and “La Reve” at Wynn. Overall, Cirque has changed the landscape of entertainment in Vegas and just announced their newest show starring magician Criss Angel at the Luxor, opening in 2008.
Time, energy and distance
No, I’m not talking about the Star Trek show at the Hilton. I’m comparing what it takes to see a show in New York versus Vegas. Unless you live in Manhattan, going to see a Broadway show involves either driving through an hour’s traffic, then paying $30 or more to park, having an expensive dinner and then getting out of the city again – a schlep – as we say.
In Vegas, no matter where you live, you’re no more than 25 minutes from the Strip, valet parking is free, garage parking is plentiful (and free), and there are more food choices than you can shake a stick at (see part 2 of NY vs. Vegas for food choices).
The Price is Right
Since the major source of employment is the hotel and casino industry, either you’ll be working for a hotel, or someone you’re friends with will be. This is your direct link to discount and/or free show tickets. When a show is previewing (before opening night), they need to fill the seats for audience reaction. Hotel employees are usually the first to receive invitations to see these shows (before they even open). I have been given free tickets many times by folks who couldn’t use them, and you will most likely be in the same place someday.
Locals usually receive offers for 2 for 1 tickets in the mail to all the biggest shows, especially in the summer when tourism is down, due to heat. For those of us who gamble, comps are the way to get free show tickets and free meals, which depending on your luck (or lack thereof), they can treat you to every show in town.
Another source of free tickets are the performers themselves. This is a small town (especially compared to New York), and you can’t help but bump into the stars. If you read our gossip column “Norm!” in the Review-Journal, he devotes a portion of his daily column to who was seen where - and the list is always long. I had the opportunity to help out Gladys Knight, and was rewarded with two tickets to her show. In fact, I’ve lost count as to how many shows I’ve seen for free, and believe me, I have no connections here. Performers donate tickets to their shows to radio stations and newspaper contests to name just two, and winning is pretty easy.
Last, but not least
Of course, no story about entertainment in Vegas would be complete without the proverbial lounge acts and the “showgirl” shows. In just about every hotel, you can enjoy free entertainment nightly from the lounge acts that perform in the middle of the casinos. These are usually solo singers or small groups, but by and large, great entertainment (and FREE).
The next step are the stars from yesteryear, who come to perform to their legions of fans from days gone by. Johnny Mathis, The Lettermen, Gino Vanelli, Taylor Dayne, Frankie Valli, Neil Sedaka – they all perform here, and tickets usually start at $20.
And finally, the showgirls! Ah, those giant headdresses, sequins and elaborate costumes (well, except for the lack of tops). These are the shows that made Old Vegas famous, and still thrive today. The two shows that still pack ‘em in are “Jubilee!” at Bally’s – celebrating 23 years and still going strong and Folies Bergere at the Tropicana. Thankfully none of the original cast is still in the show – even the Vegas plastic surgeons aren’t that good. However, you can still see the original cocktail waitresses at the Tropicana, which is startling to see 65 year olds bringing you drinks. Only in Vegas.
The wrap up
Of course, nothing will ever replace New York - the energy, the history, the culture. Living in a city of 8 million people isn’t for everyone, however. Vegas may be the Disneyland version of New York, but it makes for a very nice life. Whether you’re raising a family, love the nightlife or move here for retirement, there’s something for everyone – certainly more than penny slots and $3.95 buffets.
I hope that my comparisons of both cities can help someone decide whether Vegas is a city they can see themselves living in. I used broad strokes in painting the city, but if you need greater detail about any aspect of Vegas, I’ll happily oblige. If you have any show tickets, you can’t use – you know where to find me.
NY vs. Vegas - Part 2
(Originally posted on May 3, 2007)
Food, Glorious Food
It's a funny thing when you meet a former New Yorker here. You'll always be asked if you've found a good pizza place - I can almost guarantee it. This is like the quest for the Holy Grail. You can only ask a New Yorker, because we're used to NY pizza (naturally). There are tons of folks here from Chicago, and their pizza is totally different.
We have tried many, but not all of the "New York" pizzerias in Las Vegas, but it seems there are more and more every year. Our current favorite is Rocco's - which has numerous locations (we go to the one opposite Red Rock Casino), and is consistently good. NY Pizza and Pasta is a big favorite (Sahara and Jones), not only for pizza but good, casual Italian. Then there are Italian deli's, which are combination deli's/restaurants and stores. The three top candidates are Montesano's, Roma's and Minuto's. If you long to hang out with New Yorkers, go to any of the above, but especially Rocco's, NY Pizza and Pasta and Roma's on Spring Mountain.
Bagel and a schmear
It goes without saying that bagels are a New York staple. Not Sara Lee bagels or Vons bagels - you've got two choices for bagels in Vegas - first is Bagel Cafe and a far second is Einstein. It doesn't end at bagels, though. You've got any type of bread, cake or cookie you long for at Bagel Cafe - a fine substitution for any homesickness for New York. If you want just a great NY bakery, that would be Freed's - they've been here since 1959, and have been featured on the Food Network, in Bon Appetit magazine, and if you want a real bakery, this is the place (Eastern and Tropicana).
Although Bagel Cafe is a full Jewish-style (not Kosher) restaurant, they've got some major competition as a delicatessen. On the Strip, you've got Stage Deli in Caesar's, Canter's (from LA) in Treasure Island and Carnegie Deli in the Mirage. Raffle's in Mandalay Bay also has really good deli, too.
Chinatown and beyond
Here's where we're stumped - good Chinese food. This is definitely a West Coast thing. There are certain staples in New York that just haven't made it out here. I'll just name three - duck sauce, chow mein noodles and chow mein.
Duck sauce in Las Vegas is really sweet and sour sauce - very red, very sweet - no character. Real duck sauce is a combination of apricots, peaches - chunky, golden, sweet, but not too sweet. The noodles from New York are thick with air bubbles, rather than skinny and solid. (You can actually buy NY duck sauce and chow mein noodles in Vons - if your wife lets you.)
In New York, chow mein has no noodles in it, it's all vegetables plus chicken or beef. Rumor has it that Binion's Chinese restaurant has NY chow mein, but I haven't ventured downtown to verify that.
Other than that, the Chinese restaurants are plentiful and okay to good. We have our very own Chinatown, but it ain't New York.
Breaking News
The start of most New Yorker's days is a dash into Dunkin' Donuts. There you wait in line and quickly bark out your order - for coffee. No grandes, no lattes, no no-foam triple caps. Coffee. You can get it black or regular (cream) or regular with two sugars (pretty self-explanatory) - but that's the basic shorthand of coffee in NY.
Dunkin' Donuts is not a trendy hangout - it's stark, fragrant (with everything baked on premises - donuts, muffins, bagels (skip those) and munchkins (donut holes). Today's Review-Journal announced that Dunkin' Donuts is opening 62 stores in Las Vegas, starting later this year. That's good news for everyone - especially Jenny Craig and Weight Watchers.
Mallomars and My-T-Fine pudding
Speaking of the Review-Journal, on Wednesdays there's a column called "Taste of the Town" by Heidi Knapp Rinella. I consider this more of a public service for Las Vegas, and I consider her a "food matchmaker." Frustrated folks from all over the valley write in search of foods they can't find since they left (fill in the blank - New York, Chicago, etc.)
Here's a link to her past columns:
http://www.reviewjournal.com/columnists/rinella.html#col
When you're looking for any type of prepared food, candy or childhood favorite - if she can't give you the answer - she puts it out to the readers. It's a common topic among New Yorkers to ask one another "Have you found Mallomars yet?" (Yes, Smith's on Lake Mead and Rampart - but not during the summer - they melt.) I personally could substitute as a writer for her column because I sort of have a food obsession. Can you tell?
Why Vegas for food?
It seems I'm arguing a case for New York as a better food town. Well, yes and no. Every town has specialties that can't be re-created, that's what makes them special and a great place to visit - "there's no place like home."
Vegas, however, has every ethnic type of food imaginable - in a much smaller space. You've got Thai, Vietnamese, Cuban, Israeli, Ethiopian, Chinese, Japanese, Hawaiian, Italian, Mexican, Caribbean, Brazilian, Filipino, Kosher, Soul food, Greek, Indian, Iranian, Persian and Morrocan - and that's just casual dining.
Almost every famous upscale restaurant in New York or LA is here in Vegas. Rick Moonen, who had an incredibly successful restaurant in NY (Oceana) closed up shop there, and opened two restaurants here. They just don't have his name on them, he runs 'em. Then there's Palms, Morton's, Del Frisco, Craft Steak, Fiamma, Il Mulino, Rao's, Daniel Boulud's, Aureole's, China Grill, Ruth's Chris', Mario Batali's B&B Ristorante, David Burke's, Smith and Wollensky, and I'm sure I'll think of more later.
This is on top of all the great restaurants here that aren't in New York - all the Wolfgang Puck restaurants, Joe's Stone Crab (from Florida), Emeril's and Joel Robuchon's - just to name a few.
If you'll excuse me, I've suddenly gotten very hungry.
Next time, I'll talk about entertainment and celebrities - we've got New York beat!
Food, Glorious Food
It's a funny thing when you meet a former New Yorker here. You'll always be asked if you've found a good pizza place - I can almost guarantee it. This is like the quest for the Holy Grail. You can only ask a New Yorker, because we're used to NY pizza (naturally). There are tons of folks here from Chicago, and their pizza is totally different.
We have tried many, but not all of the "New York" pizzerias in Las Vegas, but it seems there are more and more every year. Our current favorite is Rocco's - which has numerous locations (we go to the one opposite Red Rock Casino), and is consistently good. NY Pizza and Pasta is a big favorite (Sahara and Jones), not only for pizza but good, casual Italian. Then there are Italian deli's, which are combination deli's/restaurants and stores. The three top candidates are Montesano's, Roma's and Minuto's. If you long to hang out with New Yorkers, go to any of the above, but especially Rocco's, NY Pizza and Pasta and Roma's on Spring Mountain.
Bagel and a schmear
It goes without saying that bagels are a New York staple. Not Sara Lee bagels or Vons bagels - you've got two choices for bagels in Vegas - first is Bagel Cafe and a far second is Einstein. It doesn't end at bagels, though. You've got any type of bread, cake or cookie you long for at Bagel Cafe - a fine substitution for any homesickness for New York. If you want just a great NY bakery, that would be Freed's - they've been here since 1959, and have been featured on the Food Network, in Bon Appetit magazine, and if you want a real bakery, this is the place (Eastern and Tropicana).
Although Bagel Cafe is a full Jewish-style (not Kosher) restaurant, they've got some major competition as a delicatessen. On the Strip, you've got Stage Deli in Caesar's, Canter's (from LA) in Treasure Island and Carnegie Deli in the Mirage. Raffle's in Mandalay Bay also has really good deli, too.
Chinatown and beyond
Here's where we're stumped - good Chinese food. This is definitely a West Coast thing. There are certain staples in New York that just haven't made it out here. I'll just name three - duck sauce, chow mein noodles and chow mein.
Duck sauce in Las Vegas is really sweet and sour sauce - very red, very sweet - no character. Real duck sauce is a combination of apricots, peaches - chunky, golden, sweet, but not too sweet. The noodles from New York are thick with air bubbles, rather than skinny and solid. (You can actually buy NY duck sauce and chow mein noodles in Vons - if your wife lets you.)
In New York, chow mein has no noodles in it, it's all vegetables plus chicken or beef. Rumor has it that Binion's Chinese restaurant has NY chow mein, but I haven't ventured downtown to verify that.
Other than that, the Chinese restaurants are plentiful and okay to good. We have our very own Chinatown, but it ain't New York.
Breaking News
The start of most New Yorker's days is a dash into Dunkin' Donuts. There you wait in line and quickly bark out your order - for coffee. No grandes, no lattes, no no-foam triple caps. Coffee. You can get it black or regular (cream) or regular with two sugars (pretty self-explanatory) - but that's the basic shorthand of coffee in NY.
Dunkin' Donuts is not a trendy hangout - it's stark, fragrant (with everything baked on premises - donuts, muffins, bagels (skip those) and munchkins (donut holes). Today's Review-Journal announced that Dunkin' Donuts is opening 62 stores in Las Vegas, starting later this year. That's good news for everyone - especially Jenny Craig and Weight Watchers.
Mallomars and My-T-Fine pudding
Speaking of the Review-Journal, on Wednesdays there's a column called "Taste of the Town" by Heidi Knapp Rinella. I consider this more of a public service for Las Vegas, and I consider her a "food matchmaker." Frustrated folks from all over the valley write in search of foods they can't find since they left (fill in the blank - New York, Chicago, etc.)
Here's a link to her past columns:
http://www.reviewjournal.com/columnists/rinella.html#col
When you're looking for any type of prepared food, candy or childhood favorite - if she can't give you the answer - she puts it out to the readers. It's a common topic among New Yorkers to ask one another "Have you found Mallomars yet?" (Yes, Smith's on Lake Mead and Rampart - but not during the summer - they melt.) I personally could substitute as a writer for her column because I sort of have a food obsession. Can you tell?
Why Vegas for food?
It seems I'm arguing a case for New York as a better food town. Well, yes and no. Every town has specialties that can't be re-created, that's what makes them special and a great place to visit - "there's no place like home."
Vegas, however, has every ethnic type of food imaginable - in a much smaller space. You've got Thai, Vietnamese, Cuban, Israeli, Ethiopian, Chinese, Japanese, Hawaiian, Italian, Mexican, Caribbean, Brazilian, Filipino, Kosher, Soul food, Greek, Indian, Iranian, Persian and Morrocan - and that's just casual dining.
Almost every famous upscale restaurant in New York or LA is here in Vegas. Rick Moonen, who had an incredibly successful restaurant in NY (Oceana) closed up shop there, and opened two restaurants here. They just don't have his name on them, he runs 'em. Then there's Palms, Morton's, Del Frisco, Craft Steak, Fiamma, Il Mulino, Rao's, Daniel Boulud's, Aureole's, China Grill, Ruth's Chris', Mario Batali's B&B Ristorante, David Burke's, Smith and Wollensky, and I'm sure I'll think of more later.
This is on top of all the great restaurants here that aren't in New York - all the Wolfgang Puck restaurants, Joe's Stone Crab (from Florida), Emeril's and Joel Robuchon's - just to name a few.
If you'll excuse me, I've suddenly gotten very hungry.
Next time, I'll talk about entertainment and celebrities - we've got New York beat!
NY vs. Vegas - Part 1
(Originally posted on May 2, 2007)
Why do people come from all over the country, and the world to Las Vegas? Here's some of my insights...
Native New Yorker
Most folks aren't from Las Vegas. Personally, I'm from New York. When you say you're from NY to a NY'er - they say, "Where?" They don't just say it once, it's more like 10 times. Let me show you...
Me: I'm from New York.
NYer: Where?
Me: The city.
NYer: Where?
Me: Queens.
NYer: Where?
Me: Bayside.
NYer: Where?
Me: 204th and 14th.
NYer: I gotta sista usta live by da Frogs Neck Bridge.
If you're from NY, you've had the above conversation endless times here in Vegas. New Yorkers flock here, and with good reason(s). We've got everything NY has and doesn't have. Well, if you ask my wife, she'd argue strongly against that.
You see, when you move from New York to Las Vegas, it's an unwritten rule that one person will miss New York too much to enjoy life here. Folks, that's not me. Although I love NY (to visit), Las Vegas is my home. For my wife, she has to fly back every few months to get her fix. In fact, we just came back from NY three weeks ago. To drive my point home of what I don't miss, the entire trip was centered around the weather.
The Jet Blues
In the seven plus years we've been in Vegas, there have been a few airlines that cater to the NY to Vegas crowd. We had National Airlines - which made hot chocolate chip cookies mid-flight. They went under. Now we have Jet Blue. I love Jet Blue. How can you dislike an airline that gives your own TV to watch with DirecTv programming and your own remote!?!?!
Unfortunately, Jet Blue had a PR nightmare this winter and stranded way too many folks for way too long. If I were stuck in a plane for 13 hours on the runway, I think you'd be reading about me in the newspapers (and not in a good way.) As a result, at the slightest chance of a delay, especially due to weather, Jet Blue cancels every plane on their roster.
As luck would have it, we flew back east during the Nor'easter of 2007. We were in NY for 4 days and it rained every day but one. Not a drizzle mind you, but I thought for sure I saw Noah's Ark in the distance. The conversation every day was, "Should we leave early?" "Will we get stuck here?" "Let's leave tonight." "Let's leave now." "We should have left yesterday!" Not fun. The entire trip revolved around the weather.
The only good news is that we're pretty savvy as former New Yorkers. We knew it was going to rain there, so we packed some Totes umbrellas. You see, when it's sunny in NY, umbrellas are $3.00. The minute it starts to rain, the price goes up to $20, and they're sold out! Talk about supply and demand.
My point is that Las Vegas has got 99% good weather all the time. No hurricanes, no tornados, no earthquakes (yet), little rain, little humidity, just mostly heat - and that's really just 3 months out of the year. So weather is a big factor here.
Are you hungry?
If there was one subject we talked about more than the weather, it was food. In a nutshell, New York is food. All my wife talks about is the food in New York, and she's right. But we're always on diets here, so can you imagine how big we'd be if were back in New York?
We ate our way through New York every day. I gained a few pounds, and my pants are too short now, but it was worth it. Does that mean we don't have NY food in Vegas? Not at all. Almost everything you could want is here, if you look hard enough and talk to enough people.
Let me break it down for you. There's four main food groups in NY - Italian (including pizza), Jewish (deli's), Greek and Chinese. Remember, New York was the original melting pot, so we've got every kind of food imaginable.
I won't go into the trendy spots of Las Vegas - Vegas excels in steak houses, nightclubs, and Pan Asian fusion - not to mention sushi. If you love sushi, you will love Las Vegas.
I'm talking about comfort food in NY. Hole in the wall places that have questionable sanitary guidelines, but the best food ever. New York has diners (that's a noun, not a verb.) A diner is open 24 hours and their menus have more pages than the phone book. Invariably, two minutes after you sit down, the waitress is there to take your order. God forbid you ask her to come back - you won't see her for a half hour. You're being punished. That's NY attitude, and it's not on the menu.
The closest thing to a diner in Las Vegas is IHOP, and that's as close as Vegas is to the Pacific. Not to say there aren't "diners" here, but they're like Disneyland diners - they "look" like a diner, but the folks are just making believe inside. Readers, if you can enlighten me on a good diner in Vegas, I'm all ears.
Las Vegas has really turned into the ultimate melting pot, with folks from everywhere. I think there are more languages spoken here than in the UN. And almost everyone speaks English. What's up with that? I took Spanish for 7 years in school and can't say more than "Me llamo Marcos." I give people a lot of credit for their communication skills, and envy those who are bilingual, trilingual or more. But I've digressed - back to food.
To be continued...
Why do people come from all over the country, and the world to Las Vegas? Here's some of my insights...
Native New Yorker
Most folks aren't from Las Vegas. Personally, I'm from New York. When you say you're from NY to a NY'er - they say, "Where?" They don't just say it once, it's more like 10 times. Let me show you...
Me: I'm from New York.
NYer: Where?
Me: The city.
NYer: Where?
Me: Queens.
NYer: Where?
Me: Bayside.
NYer: Where?
Me: 204th and 14th.
NYer: I gotta sista usta live by da Frogs Neck Bridge.
If you're from NY, you've had the above conversation endless times here in Vegas. New Yorkers flock here, and with good reason(s). We've got everything NY has and doesn't have. Well, if you ask my wife, she'd argue strongly against that.
You see, when you move from New York to Las Vegas, it's an unwritten rule that one person will miss New York too much to enjoy life here. Folks, that's not me. Although I love NY (to visit), Las Vegas is my home. For my wife, she has to fly back every few months to get her fix. In fact, we just came back from NY three weeks ago. To drive my point home of what I don't miss, the entire trip was centered around the weather.
The Jet Blues
In the seven plus years we've been in Vegas, there have been a few airlines that cater to the NY to Vegas crowd. We had National Airlines - which made hot chocolate chip cookies mid-flight. They went under. Now we have Jet Blue. I love Jet Blue. How can you dislike an airline that gives your own TV to watch with DirecTv programming and your own remote!?!?!
Unfortunately, Jet Blue had a PR nightmare this winter and stranded way too many folks for way too long. If I were stuck in a plane for 13 hours on the runway, I think you'd be reading about me in the newspapers (and not in a good way.) As a result, at the slightest chance of a delay, especially due to weather, Jet Blue cancels every plane on their roster.
As luck would have it, we flew back east during the Nor'easter of 2007. We were in NY for 4 days and it rained every day but one. Not a drizzle mind you, but I thought for sure I saw Noah's Ark in the distance. The conversation every day was, "Should we leave early?" "Will we get stuck here?" "Let's leave tonight." "Let's leave now." "We should have left yesterday!" Not fun. The entire trip revolved around the weather.
The only good news is that we're pretty savvy as former New Yorkers. We knew it was going to rain there, so we packed some Totes umbrellas. You see, when it's sunny in NY, umbrellas are $3.00. The minute it starts to rain, the price goes up to $20, and they're sold out! Talk about supply and demand.
My point is that Las Vegas has got 99% good weather all the time. No hurricanes, no tornados, no earthquakes (yet), little rain, little humidity, just mostly heat - and that's really just 3 months out of the year. So weather is a big factor here.
Are you hungry?
If there was one subject we talked about more than the weather, it was food. In a nutshell, New York is food. All my wife talks about is the food in New York, and she's right. But we're always on diets here, so can you imagine how big we'd be if were back in New York?
We ate our way through New York every day. I gained a few pounds, and my pants are too short now, but it was worth it. Does that mean we don't have NY food in Vegas? Not at all. Almost everything you could want is here, if you look hard enough and talk to enough people.
Let me break it down for you. There's four main food groups in NY - Italian (including pizza), Jewish (deli's), Greek and Chinese. Remember, New York was the original melting pot, so we've got every kind of food imaginable.
I won't go into the trendy spots of Las Vegas - Vegas excels in steak houses, nightclubs, and Pan Asian fusion - not to mention sushi. If you love sushi, you will love Las Vegas.
I'm talking about comfort food in NY. Hole in the wall places that have questionable sanitary guidelines, but the best food ever. New York has diners (that's a noun, not a verb.) A diner is open 24 hours and their menus have more pages than the phone book. Invariably, two minutes after you sit down, the waitress is there to take your order. God forbid you ask her to come back - you won't see her for a half hour. You're being punished. That's NY attitude, and it's not on the menu.
The closest thing to a diner in Las Vegas is IHOP, and that's as close as Vegas is to the Pacific. Not to say there aren't "diners" here, but they're like Disneyland diners - they "look" like a diner, but the folks are just making believe inside. Readers, if you can enlighten me on a good diner in Vegas, I'm all ears.
Las Vegas has really turned into the ultimate melting pot, with folks from everywhere. I think there are more languages spoken here than in the UN. And almost everyone speaks English. What's up with that? I took Spanish for 7 years in school and can't say more than "Me llamo Marcos." I give people a lot of credit for their communication skills, and envy those who are bilingual, trilingual or more. But I've digressed - back to food.
To be continued...
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