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Old 06-12-2013, 10:04 AM
 
2,132 posts, read 2,188,763 times
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Quote:
Originally Posted by VegasVicsezhowdy View Post
Back to the subject...

Appreciation versus Manipulation as the shift in Las Vegas Real Estate begins - Las Vegas Real Estate, Las Vegas Short Sales

"A lottery system in 2012? Maybe in the height of the market back in 2006. This is just too extreme of a shift."

This article is more about a particular couple seeing that a new build is not of value for them, not about a manipulated market.
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Old 06-12-2013, 10:15 AM
 
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Quote:
Originally Posted by ddrhazy View Post
This article is more about a particular couple seeing that a new build is not of value for them, not about a manipulated market.
Despite all the empty homes, decaying in the sweltering desert heat, we have not only begun building new ones again, but created a flash sales market where prices rise daily in spite of no underlying fundamental support from the economy.

Is this really a good idea?
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Old 06-12-2013, 10:28 AM
 
2,132 posts, read 2,188,763 times
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Quote:
Originally Posted by VegasVicsezhowdy View Post
Despite all the empty homes, decaying in the sweltering desert heat, we have not only begun building new ones again, but created a flash sales market where prices rise daily in spite of no underlying fundamental support from the economy.

Is this really a good idea?
When a couple can sell their house in California for 600k and come here and buy at 1/3 the cost, then yes it makes sense.
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Old 06-12-2013, 11:55 AM
 
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Originally Posted by ddrhazy View Post
When a couple can sell their house in California for 600k and come here and buy at 1/3 the cost, then yes it makes sense.
+1

It starts making much, much more sense when you reach retirement age and the kids are grown. Kids can stay in LA for work and parents are 4 hour drive/40min flight away living for much less.
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Old 06-12-2013, 11:57 AM
 
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Quote:
Originally Posted by ddrhazy View Post
When a couple can sell their house in California for 600k and come here and buy at 1/3 the cost, then yes it makes sense.
yea, and hope that the remaining 400K (if the mortgage on their California house is all paid off) can last for the rest of their lives, because they won't be able to make a living in LV.
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Old 06-12-2013, 12:38 PM
 
2,132 posts, read 2,188,763 times
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[

I suppose if we had some hard numbers to analyze what's going on I'd find this thread more productive. I'm finding that 95% of the houses in my own neighborhood are not underwater. The 5% that are underwater got a loan mod so it could potentially go into foreclosure in the future.

Last edited by observer53; 06-13-2013 at 06:11 AM.. Reason: quoted deleted post
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Old 06-12-2013, 01:20 PM
 
3,574 posts, read 4,014,298 times
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Quote:
Originally Posted by ddrhazy View Post
I suppose if we had some hard numbers to analyze what's going on I'd find this thread more productive. I'm finding that 95% of the houses in my own neighborhood are not underwater. The 5% that are underwater got a loan mod so it could potentially go into foreclosure in the future.
Just heard today that the number of underwater mortgages is now at 45% (it was much higher before).
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Old 06-12-2013, 01:21 PM
 
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Originally Posted by logline View Post
Just heard today that the number of underwater mortgages is now at 45% (it was much higher before).
Could you post the link?
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Old 06-12-2013, 03:38 PM
 
3,574 posts, read 4,014,298 times
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Quote:
Originally Posted by ddrhazy View Post
Could you post the link?
Rising home prices rescue underwater homeowners

Underwater mortgage percentage falls below 20% - MarketWatch
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Old 06-12-2013, 04:27 PM
 
1,205 posts, read 1,891,592 times
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Anybody complaining the current RE market and claiming it is being manipulated is perhaps jealous of investors or buyers who bought in the last couple years. I am not complaining, I wish this market has been manipulated even more !!
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