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Old 06-12-2013, 05:36 PM
 
2,149 posts, read 2,227,532 times
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Well, it says Nevada. I'd rather it be a report for LV numbers though, with a percentage breakdown on the ranges of the negative equity.
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Old 06-12-2013, 06:13 PM
 
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ARE BANKERS MANIPULATING THE HOUSING MARKET?

Bank Owned Homes Slow to be Listed for Sale -- RealtyTrac

"RealtyTrac shows 8,793 bank-owned homes in Las Vegas, while Realtor.com only shows 1,515 active listings (both re-sale and REO inventory). Where’s the nearly 9,000 bank-owned REOs cited by RealtyTrac?"
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Old 06-12-2013, 06:32 PM
 
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Myself and 2 other friends who bought heavy in Las Vegas the last 2 years are no longer buying at all...it's done (for us anyway). Sitting on cash all waiting for the Dow to collapse again. Prices went up 60%-75% in RE in Vegas from their low and have now corrected to where (we feel) they should have been...we're now on the sidelines watching..
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Old 06-12-2013, 06:44 PM
 
1,206 posts, read 1,908,191 times
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Quote:
Originally Posted by VegasVicsezhowdy View Post
ARE BANKERS MANIPULATING THE HOUSING MARKET?

Bank Owned Homes Slow to be Listed for Sale -- RealtyTrac

"RealtyTrac shows 8,793 bank-owned homes in Las Vegas, while Realtor.com only shows 1,515 active listings (both re-sale and REO inventory). Where’s the nearly 9,000 bank-owned REOs cited by RealtyTrac?"
RealtyTrac want to sell you membership to use their system. Do you really believe everything you read online??
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Old 06-12-2013, 06:48 PM
 
1,206 posts, read 1,908,191 times
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Quote:
Originally Posted by aardogfsu View Post
... Sitting on cash all waiting for the Dow to collapse again...
Really? don't tell me you have been sitting on the sideline since 2008...lol
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Old 06-12-2013, 06:52 PM
 
2,149 posts, read 2,227,532 times
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Quote:
Originally Posted by Scott456 View Post
RealtyTrac want to sell you membership to use their system. Do you really believe everything you read online??
Not that you necessarily need to disbelieve everything, however realtytrac's information is old and is often just wrong. Without looking at their methods or at least a sample of what they are using to extrapolate their info, there's no way to analyze the veracity of their info.
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Old 06-12-2013, 07:12 PM
 
674 posts, read 761,705 times
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Quote:
Originally Posted by Scott456 View Post
Really? don't tell me you have been sitting on the sideline since 2008...lol
Lol, no, closing on my last one this Friday, just not seeing any buys out there. Started buying late 2010. In total I think I shelled out $560,000 for property worth around $800,000 now. My friends who bought earlier did a lot a better. I went heavier in 2012 when stuff was already up 20-30% and got countered on a couple shorts that took forever. Have enough rental income to sustain a retirement (or a SICK retirement in SE Asia, ). So it's been a good decision I think. Good luck everyone. If you NEED a house to live in I still think it's ok to buy, if you're doing it for investment, I'm not so sure.
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Old 06-12-2013, 07:23 PM
 
1,206 posts, read 1,908,191 times
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Quote:
Originally Posted by aardogfsu View Post
Lol, no, closing on my last one this Friday, just not seeing any buys out there. Started buying late 2010. In total I think I shelled out $560,000 for property worth around $800,000 now. My friends who bought earlier did a lot a better. I went heavier in 2012 when stuff was already up 20-30% and got countered on a couple shorts that took forever. Have enough rental income to sustain a retirement (or a SICK retirement in SE Asia, ). So it's been a good decision I think. Good luck everyone. If you NEED a house to live in I still think it's ok to buy, if you're doing it for investment, I'm not so sure.
$800,000-$560000=42% gain over 2.5 years, averaging 17% per year. Not bad. But 17%?
Actually, I was talking about your comments on Dow-- did you sitting on the stock market sideline since 2008?
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Old 06-12-2013, 07:43 PM
 
674 posts, read 761,705 times
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Lost everything in 2008-09, had nothing to invest.

To put this post on target, here's a good article...

Banks Manipulate Las Vegas Housing Floor

It seems the banks have a solid hold on things and have successfully manipulated the bottom (assuming there's a lot more property out there).
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Old 06-12-2013, 07:54 PM
 
2,149 posts, read 2,227,532 times
Reputation: 1311
Quote:
Originally Posted by aardogfsu View Post
Lol, no, closing on my last one this Friday, just not seeing any buys out there. Started buying late 2010. In total I think I shelled out $560,000 for property worth around $800,000 now. My friends who bought earlier did a lot a better. I went heavier in 2012 when stuff was already up 20-30% and got countered on a couple shorts that took forever. Have enough rental income to sustain a retirement (or a SICK retirement in SE Asia, ). So it's been a good decision I think. Good luck everyone. If you NEED a house to live in I still think it's ok to buy, if you're doing it for investment, I'm not so sure.
I think your story is indicative of a lot of property investors. Everyone looks at you with envy that you're RE portfolio is up 240k but if they looked at the whole picture, you're just making up for past losses.
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