[jfkIII]

Originally Posted by Brandon26pdx

How much does a place like this probably cost?

The ones in the foreground...or the ones in the background?

[airics]

ahhh so the pics are lofts.. me and my blindness couldn't tell... thought that was a strange looking house

[Brandon26pdx]

Okay I took a look at the link...I was thinking they were maybe half that size from the looks out front so I can see the prices being in that range for a luxury condo of that size.

My comment about rather having a place in Portland for that kind of money wasn't meant to be flattering to Portland or anything...prices are stupid here. My brother bought a 4bdrm house in nice nabe in LV and paid much less for the square footage that he would have near where he grew up around here.

[olecapt]

The inventory of SFR REOs is down to 2873. The last 30 day we sold 2461 REOs. That says we have 1.16 months in inventory. If present rates continue (They won't) we should be to zero inventor by July 1.

Interesting Times.

[rpachigo]

Foreclosures jump in April but repossessions fall - May. 13, 2009

Las Vegas continued to be the worst-hit metro area. It had more than 14,000 filings in April, one for every 56 households and 20% more than in March. Be ready for another mouse to go through the python in the next 3 months. And add insult to injury, this new appraisal proces that was just implemented is marking down properties even more than they already are.

[rpachigo]

"There has been much more 'deed-in-lieu-of foreclosure' activity lately," said Sharga. This is a transaction in which borrowers simply tell their banks that they're not going to pay their mortgage and hand back their keys, and deeds, to their lenders.

Also from same article.

[JohnG72]

Originally Posted by olecapt

The inventory of SFR REOs is down to 2873. The last 30 day we sold 2461 REOs. That says we have 1.16 months in inventory. If present rates continue (They won't) we should be to zero inventor by July 1.

Guess not, huh?

It had more than 14,000 filings in April, one for every 56 households and 20% more than in March.

Originally Posted by olecapt

Interesting Times.

Nah, not really. Desperate times maybe, but not all that interesting.

[jwt8070]

Originally Posted by rpachigo

Foreclosures jump in April but repossessions fall - May. 13, 2009

Las Vegas continued to be the worst-hit metro area. It had more than 14,000 filings in April, one for every 56 households and 20% more than in March. Be ready for another mouse to go through the python in the next 3 months. And add insult to injury, this new appraisal proces that was just implemented is marking down properties even more than they already are.

When I was in Vegas in April, I read in the local paper that March/09 was the first month since early 2007 when banks sold more foreclosed properties than they took in. I won't be surprised if this repeated in April. However, it seems that things are heading back to "norm" again.

In a separate article I read a few days ago, an analyst was saying that foreclosure activities in california and nevada will rise sharply in the 2nd half of the year and will peak in Q4. This new data seems to support it.

[Wing Feathers]

The supposed glut of property must be on the high end.

Below 100k there is nothing worthwhile

[tony soprano]

Originally Posted by jwt8070

When I was in Vegas in April, I read in the local paper that March/09 was the first month since early 2007 when banks sold more foreclosed properties than they took in. I won't be surprised if this repeated in April. However, it seems that things are heading back to "norm" again.

In a separate article I read a few days ago, an analyst was saying that foreclosure activities in california and nevada will rise sharply in the 2nd half of the year and will peak in Q4. This new data seems to support it.

I haven't even closed escrow yet and I'm already suffering from buyer's remorse.