The good news is that the housing market in Las Vegas is set to recover. The bad news? The predictions are that it won’t do so until the first quarter of 2012, according to a housing analyst with The Concord Group. Recover, according to this Newport Beach, California real estate firm, means three to four new home sales each month per subdivision.

While Marta Borsanyi, principal of this real estate firm, had originally predicted a full recovery in the fourth quarter of 2011, she is now pushing back her predictions since the 2009 housing purchases were lower than expected.

As an example, new home sales dropped from their 45000 peak in 2005 to only 4500 over the last 12 months. Certainly, everyone has their eye on helping in the recovery effort. The Obama administration has created loan modifications and first time buying incentives; companies like Kirk Sanford’s Sightline Acquisition are trying to bring money to the Las Vegas real estate market; and others are trying to add jobs and opportunities through the Nevada area.

An interesting national study funded by the Federal Transit Administration and the U.S. Department of Housing and Urban Development show that house location matters as much as house pricing. These types of studies are certainly important for individuals looking to purchase homes, and for companies, such as Kirk Sanford and Sightline Acquisition, who want to know where to invest their money.

This particular study (available at http://www.reconnectingamerica.org/public/reports/137) found that every dollar saved on housing by living in more distant suburbs, actually costs an extra 77 cents for transportation. Many people who need to travel to urban centers to work, but feel that they can only afford a cheaper house in the suburbs, should take this into consideration. It’s important to balance out the savings that you accrue on the house with the costs of gasoline that you’ll be spending on the commute.

A new study from ceosforcities.org has shown that the more walkable a neighborhood is, the more expensive the real estate prices will be. They have a Walk Score which shows how accessible the neighborhood is without needing a car to get to groceries, parks and more.

Their most recent statistics show that every walk point that’s added to a neighborhood’s score increases the value of the homes from between $500 and $3000. Interestingly, this holds true in almost every city, but not in Las Vegas, where Sightline Acquisition with Kirk Sanford invest, and not Bakersfield. Why? They weren’t sure.

Mayor Oscar Goodman of Las Vegas delivered his annual State of the City address in mid-January. His outlook was optimistic as he described steps that are now being taken to improve the city’s economy and diversify.

Step one will be the development of academic medical centers, including construction of the Nevada Cancer Institute and the Cleveland Clinic Lou Ruvo Center for Brain Health which was completed in Symphony Park in Las Vegas. Mayor Goodman described these new developments as “absolute miracles.”

There are plans to construct the Smith Center for the Performing Arts as a place where high culture can be experienced. The third phase of the diversification of the economy will be a downtown entertainment district complete with a world class arena.

For businessmen in Las Vegas such as Kirk Sanford this is welcome news and bodes well for the overall economy of the area.