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Old 09-02-2008, 04:14 PM
 
Location: Somewhere.
9,738 posts, read 21,508,355 times
Reputation: 7063

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I'm a cat person, although I also love dogs, hamsters, mice, and just about any other animal besides jfk.
Send your cats to me dyn, and you won't get them back. Instead they will be spoiled rotten, be fed the best food and get lots of petting and brushing every day. The only downside, my 2 cats may hiss at them and chase them alot.
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Old 09-02-2008, 08:48 PM
 
Location: Beautiful Upstate NY!
13,819 posts, read 24,444,340 times
Reputation: 7615
Send them here, if you must. I'll donate them to the take-out Chinese place down the road.
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Old 09-02-2008, 09:01 PM
 
Location: Kingman AZ
15,371 posts, read 33,611,832 times
Reputation: 8973
Quote:
Originally Posted by PinkString View Post
I'm a cat person, although I also love dogs, hamsters, mice, and just about any other animal besides jfk.
Send your cats to me dyn, and you won't get them back. Instead they will be spoiled rotten, be fed the best food and get lots of petting and brushing every day. The only downside, my 2 cats may hiss at them and chase them alot.
and how is that differant from what they are now??????????



beside JFK....the chinese do dawg......Koreans do cat....
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Old 09-02-2008, 11:29 PM
 
Location: Louisiana
157 posts, read 498,487 times
Reputation: 49
So reading your blogs, does anyone have a guess when the bottom might hit on foreclosures. I am talking the 2-250 price point. I want to buy a house but scared to do it right now. Hate throwing money away on rent too but if there are any physics out there or someone who has read the economic forecast for Vegas, when might be an excellent idea when to take the plunge. This is not going to be a house I flip in 5 years but probably will be my "box" house.

Ideas??
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Old 09-02-2008, 11:52 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,328,749 times
Reputation: 2661
Quote:
Originally Posted by GoreeGal View Post
So reading your blogs, does anyone have a guess when the bottom might hit on foreclosures. I am talking the 2-250 price point. I want to buy a house but scared to do it right now. Hate throwing money away on rent too but if there are any physics out there or someone who has read the economic forecast for Vegas, when might be an excellent idea when to take the plunge. This is not going to be a house I flip in 5 years but probably will be my "box" house.

Ideas??
The market is not yet bottomed. Not far off but not bottomed. The foreclosures go on for another year or more. Prices will likely flatten or even rise before we run out of foreclosures.

When we do run out of foreclosures there will be a distinct bump - ten or fifteen percent. Then back to the historic 3 or 4 % per annum.

There is no need to jump in. Very low probability of loss if you wait for a year.

There is no particular reason to wait. I doubt there is any large drop left in this market...maybe a worxe case of 3 to 5%. What is it worth not to move twice?

If you are uncomfortable however wait. Won't cost you a thing and you might make a few bucks.

Given normal seasonal stuff I would think the first possiblity of an uptick is not until spring.

Note this whole scenario is pretty unique. I think pretty much nobody really knows anything. The overall interaction between two bank parameters...treatment of foreclosures and credit policy....and the conventional residental market is certainly not known. If someone had suggested in Decemmber that we would be selling over 2500 homes a month at this point he would have been laughed out of town. Here we are...
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Old 09-03-2008, 05:53 AM
 
Location: Beautiful Upstate NY!
13,819 posts, read 24,444,340 times
Reputation: 7615
Quote:
Originally Posted by dynimagelv View Post
and how is that differant from what they are now??????????



beside JFK....the chinese do dawg......Koreans do cat....
Very few (if any) Koreans in my neck of the woods. I'll have to send them down to NYC.
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Old 09-03-2008, 02:43 PM
 
150 posts, read 565,719 times
Reputation: 99
Default Taxes on House are Not All Related to Market Value

Quote:
Originally Posted by Buzz123 View Post
How come the value of my house went down but my taxes went up?

Taxes in Clark County are not based on how much your house would sell for. It is divided into two areas, the land and the house.

Generally speaking, taxable value of real property in Clark County is the appraised value of the land (market value) and the current replacement cost of improvements less statutory depreciation. In other words, the replacement cost of your house (cost to rebuild minus depreciation) is the taxable value of the structure (without the land).

The Assessor calculates the amount and cost of materials and labor it would take to replace your house. A depreciation factor of 1 % per year is applied to the effective age of the property, up to a maximum of 50 years.

Land values, however, are derived from market sales or other recognized appraisal methods and are added to improvement values.

Property values are updated every year.

Then to calculate the tax on a new home you find the assessed value first. You do this by multiplying the taxable value of the home by the assessment ratio (35%).

After that multiply the assessed value by the tax rate for where you live in the County.

If the home has already qualified for a 3% or 8% tax abatement, taxes will be figured on the assessed value from the base year it qualified.
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Old 09-03-2008, 02:46 PM
 
150 posts, read 565,719 times
Reputation: 99
Quote:
Originally Posted by olecapt View Post
The market is not yet bottomed. Not far off but not bottomed. The foreclosures go on for another year or more. Prices will likely flatten or even rise before we run out of foreclosures.

When we do run out of foreclosures there will be a distinct bump - ten or fifteen percent. Then back to the historic 3 or 4 % per annum.

There is no need to jump in. Very low probability of loss if you wait for a year.

There is no particular reason to wait. I doubt there is any large drop left in this market...maybe a worxe case of 3 to 5%. What is it worth not to move twice?

If you are uncomfortable however wait. Won't cost you a thing and you might make a few bucks.

Given normal seasonal stuff I would think the first possiblity of an uptick is not until spring.

Note this whole scenario is pretty unique. I think pretty much nobody really knows anything. The overall interaction between two bank parameters...treatment of foreclosures and credit policy....and the conventional residental market is certainly not known. If someone had suggested in Decemmber that we would be selling over 2500 homes a month at this point he would have been laughed out of town. Here we are...
I agree.

I also heard that the foreclosures left are getting pretty nasty (distressed leftovers). What have you heard about that?
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Old 09-03-2008, 03:33 PM
Status: "From the country to the city, back to the country." (set 9 days ago)
 
Location: Here and there, you decide.
11,524 posts, read 22,538,444 times
Reputation: 3820
some of them are pretty bad, i agree... the nicer ones get 10-12 offers on each... very hard to buy too
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Old 09-03-2008, 09:15 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,328,749 times
Reputation: 2661
Quote:
Originally Posted by VegasResident View Post
I agree.

I also heard that the foreclosures left are getting pretty nasty (distressed leftovers). What have you heard about that?
One in four or five needs significant work. One in twenty needs a lot of work. Worse at the bottom (100K). Generally same as ever over $300K. You do run into some odd balls like removing AC compressors or swimming pool filters and pumps. But rare.

It is worse than the standard market but it is not a big problem.

The badly distressed stuff sells fast. The lender listing agents actually price it worse than the damage so it appeals to the investor/flippers.
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