[jpk]

Uh, I don't rent my home. I own it. And it appreciated handsomely during the boom and has held its value just fine in a desirable location with a strong local economy.

Now I've picked through the wreckage of the Vegas bubble bursting and found myself a nice second home on a golf course with a view of downtown that I can retire in. I have no doubts that years from now I'm going to continue to be very comfortable with a home that has appreciated handsomely off of these lows.

You might think you will be fleeing the four horsemen of the apocalypse years from today, in which case you should be investing in race horses and maybe contributions to your local church right now. Or maybe you'll just be kicking yourself for wondering when the real estate bottom was and worrying about a missing it by a few percentage points when you should have seen that in 10+ years the potential appreciation was an order of magnitude greater than any fluctuations in these next six months of the market.

[Terri B]

"Related Cos, Starwood Team Up To Bid for Aliling Las Vegas Casino"

Free Preview - WSJ.com

This casino was mentioned earlier as going into default. Looks like one of the big developers will be buying it.


Have not posted in a long time and am a newbie but more of a lurker. Enjoy all the comments. They have been quite helpful to me regarding renting my home in Las Vegas.

Best to all in your endeavors with LV real estate.

[gulfer]

Hard to believe no new discussion on here for the past 3 days!!! I want to give this a bump back to the first page, so that is why I am writing again.
That and to say, did you see that this is the first month in a long time (I believe it said 6 months) that home sales increased? Could it be all the naysayers that were busting on Ole Capt's chops may have be a little humbled now?
Thanks for the continued input Ole Capt. The short sales and foreclosures may be pushing the sales, but they're moving them. Still falling prices, interest rates while not great are still historically on the low end. Let's hope inflation remains in check, the credit crunch bottom is behind us, and our economy can get back to rising. Oh, and yes it would be nice if all the home sellers in Vegas would drop the price 15-20 percent!! Had to throw that out there for a laugh.

[bumpercar]

Wave of Foreclosures Drives Prices Lower, Lures Buyers - WSJ.com

Quotes:
A glut of foreclosed homes of historic proportions is starting to drive down U.S. home prices faster as lenders put more properties on the market and buyers show signs of interest.

On Monday, new data suggested that pressures like these are starting to drive prices low enough to attract some buyers back into the market.

[Daddys///M3]

Originally Posted by bumpercar

Wave of Foreclosures Drives Prices Lower, Lures Buyers - WSJ.com

Quotes:
A glut of foreclosed homes of historic proportions is starting to drive down U.S. home prices faster as lenders put more properties on the market and buyers show signs of interest.

On Monday, new data suggested that pressures like these are starting to drive prices low enough to attract some buyers back into the market.

According to that article, total REO's in Las Vegas equal between 1% and 2% of total mortgages outstanding. That sounds about right. I did not realize that Denver and Chicago were in such bad shape though.

[SHEPNYC]

"Las Vegas and Miami reported the weakest markets in January, with each city posting an annual decline of 19.3%. Phoenix was the second worst with a decline of 18.2%."


Home prices post another record decline - Mar. 25, 2008

[Suited_Up]

Originally Posted by SHEPNYC

"Las Vegas and Miami reported the weakest markets in January, with each city posting an annual decline of 19.3%. Phoenix was the second worst with a decline of 18.2%."


Home prices post another record decline - Mar. 25, 2008

That looks like good news for people like me who are just getting in the market to buy a place out there. Wonder how long we have before we miss the chance?

Personally, I want to go asap, but there's the problem of having my gf find a job as well as figure out what to do with our place here in Chicago.

But as a buyer, this seems like pretty good news.

[jpk]

Originally Posted by Suited_Up

That looks like good news for people like me who are just getting in the market to buy a place out there. Wonder how long we have before we miss the chance?

Personally, I want to go asap, but there's the problem of having my gf find a job as well as figure out what to do with our place here in Chicago.

But as a buyer, this seems like pretty good news.

Yes, if you are a buyer it's a great time. If you are a seller it is terrible news.

[bumpercar]

L.A. Land : Los Angeles Times : California freefall: Home prices fell 26% in February (http://latimesblogs.latimes.com/laland/2008/03/california-free.html - broken link)

[sheriff]

Another one bites the dust: Packer dealt a dead hand in Vegas | smh.com.au