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Old 05-29-2009, 10:44 PM
 
Location: Fort Worth and Las Vegas
255 posts, read 557,132 times
Reputation: 73

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Quote:
Originally Posted by airics View Post
wow.. that must have hurt... aren't they heavy?
Hercules, Hercules, Hercules... These reos - we're running out of 'em don't ya know. I wonder where I've heard that before. So I had to pick two off the ground lest I miss their disappearance forever. So x-files that guy is.
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Old 06-01-2009, 10:38 AM
 
Location: Fort Worth and Las Vegas
255 posts, read 557,132 times
Reputation: 73
How many homes do banks really own? - Las Vegas Sun

How many homes do banks really own?
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Old 06-01-2009, 11:09 AM
 
1,347 posts, read 2,449,312 times
Reputation: 498
Quote:
Originally Posted by rpachigo View Post
How many homes do banks really own? - Las Vegas Sun

How many homes do banks really own?
Housing analysts and realtors need not speculate when all they have to do is ask OC to fire up his proprietary database and pull a number out of his...hat.
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Old 06-01-2009, 01:44 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,215,465 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
Housing analysts and realtors need not speculate when all they have to do is ask OC to fire up his proprietary database and pull a number out of his...hat.
You might also note that Smith is confirming the number of REOs available as shown on the blog.

The whole reason for that post is that the media is beginning to figure out the thing does not compute.

But you have been hearing that for a while now...

Though of course you lack the whatever to appreciate it...
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Old 06-01-2009, 02:29 PM
 
1,347 posts, read 2,449,312 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
You might also note that Smith is confirming the number of REOs available as shown on the blog.

The whole reason for that post is that the media is beginning to figure out the thing does not compute.
Yeah, I'm sure that was the basis of the article, the media thinks bank owned properties have been overstated. That should be pretty evident to everyone when he says-
Quote:
Originally Posted by Dennis Smith
“Realtors who specialize in foreclosures and bank-owned properties are certainly gearing up for a flood of listings during the upcoming weeks,” Smith says.
Quote:
Originally Posted by olecapt
But you have been hearing that for a while now...

Though of course you lack the whatever to appreciate it...
The whatever I lack is confidence in your ability to accurately extract or correctly interpret anything that involves numbers.
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Old 06-03-2009, 09:18 AM
 
Location: Las Vegas
3,728 posts, read 9,477,101 times
Reputation: 1323
Default Foreclosed Homes Create Bidding Wars

From today's news ...


"Foreclosures are creating a big jump in sales as prospective home buyers wade back in to the housing market in search of good deals. However realtors warn if you think homes are still going for below asking price, think again."

Foreclosed Homes Create Bidding Wars - Las Vegas Now |
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Old 06-03-2009, 09:28 AM
 
Location: Here and there, you decide.
12,908 posts, read 28,004,431 times
Reputation: 5057
i'm sure soprano or rpachio will deny this article...
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Old 06-03-2009, 10:12 AM
 
Location: Bellevue WA
27 posts, read 80,279 times
Reputation: 13
I've been reading this thread with much interest.I've been looking for a property for a few month.

Many here say the housing market is rising. But every few days,I get emails from my realtor showing properties,mostly located in NLV lowering prices.

Why the contridiction?
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Old 06-03-2009, 10:22 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,215,465 times
Reputation: 2661
Quote:
Originally Posted by BellevueWa View Post
I've been reading this thread with much interest.I've been looking for a property for a few month.

Many here say the housing market is rising. But every few days,I get emails from my realtor showing properties,mostly located in NLV lowering prices.

Why the contridiction?
We are still running 2700 REOs a month. But they are becoming increasingly difficult to buy.

I have a well qualified young couple at about 55,000 with an FHA loan. It is becoming clear that it is almost impossible for them to buy anything other than a HUD offering. They cannot buy the fixups because they won't meet FHA requirements. They can't go more than a couple of thousand past an appraisal as they have to fund the difference. But the investor community is going 5 or 10K higher than the likely appraisal. We are in fact finding most of the nicer homes in that price range are refusing to accept FHA mortgages...even those from federal controllled sources like Freddie Mac.

I am reaching the conclusion that there only shot will be on a HUD where the owner occupant gets first dibs. Now all I have to do is find a nice HUD in the price range.
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Old 06-03-2009, 10:22 AM
 
Location: Las Vegas
3,728 posts, read 9,477,101 times
Reputation: 1323
I think it depends upon what you're looking for. Homes in the low price ranges and smaller homes...they are plentiful and in varying state of "condition". These types of homes are good for renting out.

Homes that are in really good shape, have larger square footage, 3, 4 or 5 bedroom for families to purchase and LIVE IN, in the best of areas, those are the ones that I saw bidding wars on when I was doing temp work at the realty office..
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