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05-11-2008, 04:14 PM
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I'm a GROUCH! So deal with it!
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Join Date: Dec 2007
Location: Here and there, you decide.
4,109 posts, read 2,748,561 times
Reputation: 382
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hey olecapt, others
what do you think of the spring mountain ranch area, is it riddled with foreclosures, etc?
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05-11-2008, 04:57 PM
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Senior Member
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Join Date: Feb 2008
Location: Las Vegas, Centennial Hills
1,768 posts, read 1,416,102 times
Reputation: 381
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From what I've seen there are quite a few. Olecapt will be able to answer more accurately simply because he has more resources, but I'm going with yes.
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05-11-2008, 05:37 PM
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Saepe errans, num quans hesitans
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Join Date: Sep 2006
Location: NW Las Vegas - Lone Mountain
9,921 posts, read 8,781,934 times
Reputation: 1301
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Spring Mountain Ranch
There are 2075 homes in SMR. 1028 were sold before 2004. 1031 were sold in 2004 or after...most in 2004. With set backs it is likely that most of SMR were committed before the big runup.
Overall 99 are for sale or contingency sold...generally counted in the MLS as for sale.
so overall about 5% for sale. That is about par for the tracts. Normal for sales ratio in large tracts is in the 5% range. Often as high as 6 or 7%.
Of the older homes 4.3% are for sale and 58% of those are distressed.
Of the newer homes 5.3% are for sale and 70% are distressed.
So not a lot for sale but the majority of those that are are in distress...
I would say an excellent place to buy a foreclsosure...particularly the older part.
I have not however looked at the pricing. I would guess that the well priced REPOs are quite competitive.
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05-11-2008, 05:52 PM
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I'm a GROUCH! So deal with it!
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Join Date: Dec 2007
Location: Here and there, you decide.
4,109 posts, read 2,748,561 times
Reputation: 382
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where is the old area vs the new
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