[gulfer]

I'd be more than happy to take a look at what I said a few years ago. I have absolutely no problem admitting I was wrong. I will say in 2008 and 2009 I was in the Navy, just coming from Japan and going to work in Norfolk. I didn't retire until 4 months ago. I was overseas reading and watching for 3 full years before that (yes, right during the housing bubble and into the crisis)

So anything I said about the market was my opinion from outside the Real Estate business. Please send it, I would like to see the reference and in what capacity I said it.

It is actually a good point you bring up though. I am not expert, and nobody is regarding the housing situation. [mod cut]
Also, not that it matters to you, but if you want to use my military title out of sarcasim, you can use the appropriate one, and call me Master Chief. If it is for general discussion, being called a Chief is PERFECTLY FINE WITH ME!

Originally Posted by eventusstultorummagister

I tried to put out some "positive" information that is of potential interest and value to anyone considering relocating to Las Vegas. [mod cut-rude, discussiing posters, not topic] Everybody knows how wrong the protagonist was but I'm going to single you out as well Chief, you posted that the RE market had levelled off in '08 and that we would see appreciation in '09. You think you're benefitting anyone? On the contrary, you're handing out BAD gouge.

[mod cut-- no "I'm leaving" posts, per the TOS]

[gulfer]

Back to rents.

Vons - If your wife manages 400 and she says they are going up, that is good enough information for me. I can tell where I am at they are going up.

The houses for 70,000 and below are selling quickly and you see them a month later online for rent.

The number one complaint here is for people wanting to rent when they don't live here yet. They are relocating for various reasons but most are coming because of job transfers. But if they are not here locally, they are not even considered. When they do get to a property management company, they are being told there are 4 or 5 people ahead of them to see the home, they have to be here to see it before it can be rented, etc...

Is that going on out there as well?

[lvoc]

Originally Posted by eventusstultorummagister

First, there's nothing wrong with renting if your financial position doesn't allow you to take on a mortgage.

Second, the "Buy, Buy, Buy" was indeed instrumental and partly responsible for the foreclosure crisis... the stigma of renting as "throwing away money" or so they said.

People who weren't ready to buy homes (insufficient income), bought, simply because they were told that they were wasting money by not buying.

Last, renting isn't throwing away money, you do get something in return, which is a roof over your head.

Who said?

If you are talking about the run up to the bust you are incorrect. In those days you bought for reasons other than economic. The rent to buy question was quite completely the other way.

When you did hear "buy, buy, buy" sold it was for appreciation. Buy now or be forever locked out. At one point in the mid 70s I moved from CA to upstate NY. Hocked my soul to buy the most expensive and shiney new house I could afford. The only reason was that I intended to go back to CA in a few years and wanted sufficient equity to buy my old house back. Which is what I did. And I needed that equity.

[von949]

Originally Posted by gulfer

Back to rents.

Vons - If your wife manages 400 and she says they are going up, that is good enough information for me. I can tell where I am at they are going up.

The houses for 70,000 and below are selling quickly and you see them a month later online for rent.

The number one complaint here is for people wanting to rent when they don't live here yet. They are relocating for various reasons but most are coming because of job transfers. But if they are not here locally, they are not even considered. When they do get to a property management company, they are being told there are 4 or 5 people ahead of them to see the home, they have to be here to see it before it can be rented, etc...

Is that going on out there as well?

Most definitely they are. Out of the three apartment complexes she manages, one of them is at 99.9% occupied(188 units). That 99.9% is because of the model unit which the owner is thinking about renting out finally. Once the property hit 97%, the owner increased rents to full market value. About $200 extra a month. No more rebates, no incentives, no discounts, no waived credit check fees...nothing. Don't need it anymore when you have renters coming in from everywhere ready to rent.

On a side note...

My wife always surveys a tenant when they move out or don't renew their lease. Two main reasons have been because tenants are ready to buy a house or are moving out of the city.

[von949]

Originally Posted by Alert 2012

Good for you.......I'm much more happier RENTING and living in San Diego then owning a cookie cutter stucco home in middle of desert. Even if you would give me a Las Vegas house for free I would NEVER move back and live in that city.
Las Vegas is a market for flippers, scammers and get rich quick folks. No one is buying house there for a long run. All those new homeowners are looking for quick turnaround and quick profit. Most Las Vegas residents who have lived there for a while are dreaming of escaping Las Vegas and retire somewhere else.....why would you be any different????
New transplants stay excited for a first couple of years and then when REALITY CHECK kicks in they realize that you can't live in Las Vegas for a long time.

So whats your story? I assume that something extreme happened to you while living in Vegas.

[eventusstultorummagister]

Raises rent $200?

I just did a search on Craigslist for rentals, I entered "FREE" into search for in the title, it returned 1000 listings. Here's a sampling:

1st month FREE
FREE iPad or Xbox
FREE cable and internet
One month FREE
FREE water, gas and garbage
No credit check, FREE WiFi, Utils and Cable TV
Up to 2 months FREE

[von949]

Originally Posted by eventusstultorummagister

Raises rent $200?

I just did a search on Craigslist for rentals, I entered "FREE" into search for in the title, it returned 1000 listings. Here's a sampling:

1st month FREE
FREE iPad or Xbox
FREE cable and internet
One month FREE
FREE water, gas and garbage
No credit check, FREE WiFi, Utils and Cable TV
Up to 2 months FREE

I searched the same thing last year sometime and there was a "free" offer for a female roommate. But the poster wanted sexual favors once a week.

[brucerby]

Originally Posted by von949

I searched the same thing last year sometime and there was a "free" offer for a female roommate. But the poster wanted sexual favors once a week.

Sorry, but I removed that offer as the roomate opening was 'filled'..... :-)

[clutchcargo777]

Another benefit to renting is the ability to pick up and move to where the work is any time you need to. How many people are trapped in upside down houses in a city with high unemployment?

[von949]

Originally Posted by clutchcargo777

Another benefit to renting is the ability to pick up and move to where the work is any time you need to. How many people are trapped in upside down houses in a city with high unemployment?

Very true. But in 2005 when the economy was on cloud 9, owners benefitted from downside up houses where everyone had 2 jobs. Renters did not get a chance to pull out equity from anything.

I guess in this current economy, owners want to be renters yet in a good economy, renters want to become owners.


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