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Old 04-21-2013, 05:53 PM
 
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New signs of life arise in Las Vegas - latimes.com

interesting article about vegas on the upswing in LA Times
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Old 04-21-2013, 06:32 PM
 
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It's good to see these projects firing up again. I just don't know if the economy is strong enough to support the long term.
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Old 04-21-2013, 06:49 PM
 
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That 1st comment is hilarious.
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Old 04-21-2013, 07:13 PM
 
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We have a pulse.
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Old 04-21-2013, 07:40 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
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I was there last week for a business conference, and I thought it was a lot quieter than the last two years. Not nearly as many people out and about around the strip, or in the casinos, but I suppose it may have been the cool weather. The hotels are still offering really good deals, even with that $20 resort fee.
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Old 04-21-2013, 08:19 PM
 
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Interesting quite from the article..."..."The rise in home prices can't be sustained," said Robert Noggle, a local real estate lawyer who specializes in short sales. "The backlog of delinquent properties is enormous, and those homes must be disposed of. That means prices will drop."...."

Wonder if he's right?
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Old 04-22-2013, 11:03 AM
 
Location: In the Silver State of Nevada in Las Vegas NV
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Quote:
Originally Posted by brucerby View Post
Interesting quite from the article..."..."The rise in home prices can't be sustained," said Robert Noggle, a local real estate lawyer who specializes in short sales. "The backlog of delinquent properties is enormous, and those homes must be disposed of. That means prices will drop."...."

Wonder if he's right?
Again the Banks rule here and how much of a deal they are going to make if any. They usually mess up short sales and foreclosures and cause them to fail . The banks want every penny back and will go to the death to do so while the property starts to get run down and needs more $$$ to fix it up. Don't believe cash sales rule because the banks change the asking price during the process to meet their needs so any Real estate agent or Lawyer who tells you they can change that is not being truthful especially here in LV.
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Old 04-22-2013, 09:35 PM
 
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Quote:
Originally Posted by irishspy View Post
Again the Banks rule here and how much of a deal they are going to make if any. They usually mess up short sales and foreclosures and cause them to fail . The banks want every penny back and will go to the death to do so while the property starts to get run down and needs more $$$ to fix it up. Don't believe cash sales rule because the banks change the asking price during the process to meet their needs so any Real estate agent or Lawyer who tells you they can change that is not being truthful especially here in LV.
Changing their asking price might happen in a short sale which gets prolonged months and months(I had one that took 1 year to close, and I had to pay an extra 10k to just get the deal done) but usually will not happen in a REO as those are a lot quicker.
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Old 04-26-2013, 12:53 AM
 
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I think the media is trying to talk up something that just isn't there.The economy sucks here and wont change anytime soon. Jobs are still hard to get, if you have a job that is a status symbol.
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Old 04-26-2013, 10:17 AM
 
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I hate to go all macro on people but...

What we're seeing here is what I call a paper fire. The Fed is dumping vast amounts of cash into the system, and it having an effect. However, if they keep it up and the economy actually gets rolling, two things are going to happen:

First, most of this money is likely going under mattresses both real and virtual (ie sitting on corporate balance sheets.) If the economy looks good enough, all this money is going to come out of solution like opening the top on a shaken up soda, and there will be a big wave of inflation.

Second, when this happens, the Fed will have to try to yank back hard on money supply (if they can - see the point above) and try and get the inflation under control. With both of these things happening at the same time, we can end up with stagflation (inflation with no growth), which is the worst of both worlds. Then we'll see how weak the economy really is.
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