Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-18-2012, 06:03 AM
 
2,724 posts, read 4,764,096 times
Reputation: 1042

Advertisements

Quote:
Originally Posted by Coco6163 View Post
On a different note, City Center developers are dropping condo list prices by 10% and offering another 15% in incentives.

http://http://www.lvrj.com/business/citycenter-developers-cut-prices-on-high-rise-condos-147850205.html (broken link)

This can't be good.
They officially called "BOTTOM" in that article too...

I'm calling my agent right now before they're all taken!!!
Reply With Quote Quick reply to this message

 
Old 04-18-2012, 09:05 AM
 
15,849 posts, read 14,479,382 times
Reputation: 11948
Given the know construction problems with City Center, I don't think I'd touch those condos for free.
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 03:05 AM
 
62 posts, read 143,118 times
Reputation: 16
Default From my realtor

Here's what my realtor emailed me today.

Attached is the most recent statistics for your review... The numbers just came out a few days ago so I apologize for the delayed information, however I wanted to send you last months stats.

As you can see on the first page(in blue) we only have 4900 SFR homes for sale, which is down 56% over last year. And yes banks are holding on to foreclosures, the so called "ghost inventory". And also banks are slow to foreclose on home owners, since the December Robo signing law went into effect which halted all foreclosures for Nov and Dec. Once a home owner is foreclosed on the banks are allowing the tenant/homeowner to rent out the home, which in turns keeps many REO properties off of the market.

This summer will be very interesting to see what happens... In my opinion I think were at the bottom and we will slowly be creeping up sales prices, mainly due to supply and demand and multiple offers on MOST properties. Never a dull moment in Las Vegas
Attached Thumbnails
Current Update on the LV Real Estate Market -- Part II-glvar.jpg  
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 07:33 AM
 
Location: Las Vegas, NV
553 posts, read 1,208,752 times
Reputation: 807
Default A different spin on City Center

Looks like the RJ got its info from the Wall Street Journal. Betting on Vegas Comeback - WSJ.com
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 08:07 AM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,498,624 times
Reputation: 7615
Quote:
Originally Posted by Coco6163 View Post
Looks like the RJ got its info from the Wall Street Journal. Betting on Vegas Comeback - WSJ.com
The earliest thread in this forum on the subject of City Center is shown below. It's interesting to go back in time to see what people were saying about it in the beginning. It appears that many of us were able to predict the outcome...including my original assessment of it as a boondoggle.

What is this City Center
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 11:14 AM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
Reputation: 5057
Yes you predicted it as a boondoggle... You also predicted Vegas would be a ghost town. You must be running out of those nuts that you collected....
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 11:45 AM
 
Location: North Las Vegas
1,631 posts, read 3,951,794 times
Reputation: 768
Here is a break down regarding how many properties are in contingency as you can see a good portion of those are short sales.

Fannie Mae anounced starting June 1st they will start responding to short sales up to 60 days, if the servicer can't get the short sale done in 60 days they will update what is going on with the short sale in a timely manner. Keep your fingers crossed that they really follow through with this.
Las Vegas Real Estate Market Report: 04/18/12

This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of April 18, 2012, data is obtained from the Greater Las Vegas Association of Realtors MLS.

Single Family Residence (SFR)
Available – 4,862 (-128, Last Week 4,990)
Under Contract – 13,182 (+174, Last Week 13,008)
Days of Supply – 12 (+0, Last Week 12)
Short Sales – 11,186 (+52, Last Week 11,134)

Condominiums and Town Homes (CONDO/TH)
Available – 951 (-17 , Last Week 968)
Under Contract – 2,429 (+3, Last Week 2,426)
Days of Supply – 12 (+0, Last Week 12)
Short Sales – 2,092 (+17, Last Week 2,075)

Combined SFR + CONDO/TH
Available – 5,813 (-145, Last Week 5,958)
Under Contract – 15,611 (+177, Last Week 15,434)
Days of Supply – 12 (+0, Last Week 12)
Short Sales – 13,278 (+69, Last Week 13,209)

For the complete Las Vegas Real Estate Market Report, including detailed tables and graphs, visit www.narreia.com/market/housingreports.php (login required).
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 11:51 AM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,498,624 times
Reputation: 7615
Quote:
Originally Posted by airics View Post
Yes you predicted it as a boondoggle... You also predicted Vegas would be a ghost town. You must be running out of those nuts that you collected....
Nope, you misread. I was suggesting the theme for the new property be a ghost town. You must have more nuts collected...as you reported 93% of the units sold...back in 2008!
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 11:51 AM
 
3,598 posts, read 4,949,242 times
Reputation: 3169
Days of supply = 12??? You mean the average wait time a seller has before he gets an offer is less than 2 weeks? That doesn't sound right.
Reply With Quote Quick reply to this message
 
Old 04-19-2012, 12:17 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
Reputation: 5057
13 units available in the Mandarin right now out of 225....and more than 93% were presold. Currently 94%
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas

All times are GMT -6. The time now is 04:47 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top