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)
Closed Thread Start New Thread
 
Old 10-05-2012, 07:42 PM
 
9,855 posts, read 10,409,326 times
Reputation: 2881

Advertisements

Never trust a realtor to tell you that it is not the right time to buy.

 
Old 10-05-2012, 07:59 PM
 
12,973 posts, read 15,793,565 times
Reputation: 5478
Quote:
Originally Posted by pommysmommy View Post
Never trust a realtor to tell you that it is not the right time to buy.
You joining the idiot brigade PM?

You write totally incorrect stuff and you think I should quietly let you?

There have been lots of times recently when the wise and able should not have bought. But anytime homes are selling well below replacement value is not one of those. Someplace in the next years they have to go to that replacement value. Then we see if we have a rational market or the exuberance again breaks out.
 
Old 10-05-2012, 08:37 PM
 
9,855 posts, read 10,409,326 times
Reputation: 2881
Quote:
Originally Posted by lvoc View Post
You joining the idiot brigade PM?

You write totally incorrect stuff and you think I should quietly let you?

There have been lots of times recently when the wise and able should not have bought. But anytime homes are selling well below replacement value is not one of those. Someplace in the next years they have to go to that replacement value. Then we see if we have a rational market or the exuberance again breaks out.
I can assure you that I am not an idiot. I can also assure you that people looking to buy a home to live in should stay away from markets where cash payers are paying above appraised values. It's not rocket science.
 
Old 10-05-2012, 08:39 PM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,152,514 times
Reputation: 3900
Quote:
Originally Posted by pommysmommy View Post
Never trust a realtor to tell you that it is not the right time to buy.
I thought it was don't trust a realtor that says "now is the time to buy".

??

Which one is it?


Sent from cell...
 
Old 10-05-2012, 08:54 PM
 
12,973 posts, read 15,793,565 times
Reputation: 5478
Quote:
Originally Posted by pommysmommy View Post
I can assure you that I am not an idiot. I can also assure you that people looking to buy a home to live in should stay away from markets where cash payers are paying above appraised values. It's not rocket science.
That is an issue only at the low end of the market and is as much the fault of the appraisal system as it is of the cash buyers. We happen to appraise houses to live in to be less valuable than they are to an investor to rent.

JUst appraise property at their more expensive use and the problem vanishes.

The problem does not exist above $150,000 - and is not much of a factor above $100,000.

It is easily countered by having a little more cash than the 3.5%.
 
Old 10-06-2012, 05:29 AM
 
2,724 posts, read 4,762,354 times
Reputation: 1042
Fannie/Freddie own most of the distressed homes and are presently jacking up asking prices. A local REALTOR® is calling for 700% increase in the market, get ready sheeple the time has come to buy, buy, buy or be forever priced out of the market...


 
Old 10-06-2012, 05:46 AM
 
2,724 posts, read 4,762,354 times
Reputation: 1042
Quote:
Originally Posted by lvoc View Post
There have been lots of times recently when the wise and able should not have bought. But anytime homes are selling well below replacement value is not one of those.

Are we really seeing a nascent recovery in housing? I don’t believe it. It seems to me more like a gargantuan wool rug has been rolled out over a gaping hole in the floor; as one stands in the middle of said hole, the rate of descent is reduced to a degree where it seems imperceptible, but it still doesn’t make for a very solid fix.

 
Old 10-06-2012, 06:20 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,687,243 times
Reputation: 9980
The bubble proved one thing, Real Estate is no longer an investment. Every time the market makes a little gain developers go hog wild flooding the market with homes that barely clear building costs.
 
Old 10-06-2012, 06:27 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,687,243 times
Reputation: 9980
Quote:
Originally Posted by pommysmommy View Post
That's what I was going to do, buy cash. Until recently the maarket was flooded with ghost inventory that would have been a great buy at the advertised prices. Unfortunately this turned out to be the same scam I've seen over and over in Phoenix area, none were really available at those prices. I am not looking for profit or rent but with current CD rates I don't want more cash in the bank.
 
Old 10-06-2012, 08:32 AM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,152,514 times
Reputation: 3900
Quote:
Originally Posted by Boompa View Post
The bubble proved one thing, Real Estate is no longer an investment.
At least not a short term investment. People that knew what hey were doing made out great, people who didn't, probably will never touch real estate again...at least for a long while.




Sent from cell...
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.


Closed Thread


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
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 11:23 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