[Lola Granola]

Parking, have you thought about doing some consulting work to get some $ coming in while you're waiting to land a regular position? Business cards are cheap, print some up and start attending Chamber of Commerce and other local business events. Or try some of the local consulting firms for a position.

[parking]

Not in Vegas.

Originally Posted by Greatday

My office is in Tempe, Arizona. The ARMLS has approx 52K listings currently. Interestingly, and according to those who "crunch" numbers, 50K would be considered "normal" for an area that ARMLS encompasses - which is not just Phoenix - we are a "regional" MLS.

Sales are "inching" up - and the inventory is "inching" down. Population and employment growth remains very, very strong.

As an aside - many try to compare sales to 2004/05 etc - those were abnormal years. In my 40 years in the business though, I have gone through those cycles before - they run 10 to 12 years apart - then things settle out again.

Predictions (my ASU College of Business Admin, Dr. Jay Butler) and others are suggesting that by mid '08, we will be back to a good, strong market (not like a couple of years ago) - this shake out is actually a good thing

My office is putting 25 to 30 sales a week into escrow

[Greatday]

Originally Posted by parking

Not in Vegas.

Keep in mind - I also live in Vegas. I also have business interest in Vegas

[parking]

I live in the NW. Everyday I see more and more homes going on the market as a resale or a f[SIZE=3]oreclosure. My housing development (60 homes total) has 16 homes on the market. 6 of those are foreclosures. They have been on the market for more than a year. [/SIZE]

Originally Posted by Greatday

Keep in mind - I also live in Vegas. I also have business interest in Vegas

[Greatday]

Originally Posted by parking

I live in the NW. Everyday I see more and more homes going on the market as a resale or a f[SIZE=3]oreclosure. My housing development (60 homes total) has 16 homes on the market. 6 of those are foreclosures. They have been on the market for more than a year. [/SIZE]

You might want to check to see how many of those foreclosures were originally purchased by investors. Many of these properties in foreclosure (not all of course) were investor owned - they went in with these nutty loans including the 125% LTV - cash outs

New legislation (and admin rules) will be approved this week that will allow FNMA to buy Jumbos in excess of 700K - that is going to significantly help those who got into many of those ARMS that have taken a jump, to re-fi and get into fixed rates (which are real low right now).

FHA will be in place to help in the re-fi market as well

The investors? Oh well - their problem

Owner occupants? Help may be at hand for them -

Values - settling down - median price in LV is UP -

[parking]

Thank you for the imput. Yes I have been doing side work repairing computers. I charge cheap, $30.00 flat rate. Get a couple calls a week. Not much to support a family on.

Originally Posted by Lola Granola

Parking, have you thought about doing some consulting work to get some $ coming in while you're waiting to land a regular position? Business cards are cheap, print some up and start attending Chamber of Commerce and other local business events. Or try some of the local consulting firms for a position.

[parking]

My friend just bought his dream home 3 months ago. I will not name the home builder. THe home sits on an acre lot. Square footage 5000 feet.
Purchased price $650,000.

Last week, he found out that the homebuilder sold his exact home on a larger lot to a buyer for $550,000.

Where is the logic in this? This is real life here. Your statements give the impression that everything will be okay but yet people are still getting slammed by agents.

Originally Posted by Greatday

You might want to check to see how many of those foreclosures were originally purchased by investors. Many of these properties in foreclosure (not all of course) were investor owned - they went in with these nutty loans including the 125% LTV - cash outs

New legislation (and admin rules) will be approved this week that will allow FNMA to buy Jumbos in excess of 700K - that is going to significantly help those who got into many of those ARMS that have taken a jump, to re-fi and get into fixed rates (which are real low right now).

FHA will be in place to help in the re-fi market as well

The investors? Oh well - their problem

Owner occupants? Help may be at hand for them -

Values - settling down - median price in LV is UP -

[sheriff]

Originally Posted by parking

Thank you for your imput. Yes I have applied at the Sands and at the Palazzo. I droved to the Palazzo's HR located by the Airport. I wanted a better chance if I came in dressed in a suit and a resume in hand. The first thing the agent said to me, "Apply on Line." Fortuantely they had terminals there.
After applying on line (one position only allowed), I was screened by a 18 year old kid who said, "I'll forward the application to the department manager, they'll call you for the next interview." Well, no one called. I called back 3 times to inquire about my application. Nothing.

What position did you apply for?

[sheriff]

While your skills and experience may warrant 80K/yr, I will be shocked if you get hired into a position that pays that much. There just aren't that many mid level management jobs in LV, especially in the resorts. Those that do open are generally filled from within, and many transfer from out of state to get the promotion. If you like LV, you may be better off to engage in some type of entrepreneurial endeavor.

[Greatday]

Originally Posted by parking

Where is the logic in this? This is real life here. Your statements give the impression that everything will be okay but yet people are still getting slammed by agents.

An agent did not do this your friend - the builder did. And, this type of situation, while unfortunate, happens Not unlike buying a car for 40K then, the next week, you find you could have bought the same car for 32,500.

Unfortunate but, reality nonetheless