[JohnG72]

Originally Posted by Baawstun2LV

So a correction is on tap this year? ...once the banks get their paperwork in order?

EDIT: "this year" meaning 2013

No one knows. The federal government has gone to great lengths to prop up the real estate market....certainly moreso than I would have ever expected. So who knows how long that will last.

[lvoc]

Originally Posted by BBMW

The changes in foreclosure processing rules are preventing a lot of delinquent properties from hitting the market. This is depressing supply.

YOu really believe that?

I hear it a lot in RE circles...but I don't see any indication it is true. Note that Phoenix is far out performing Las Vegas. And it had no AB284.

I think what you see if what you are going to get in the short term.

December prices appear up - Median at $150K, Average upper 180Ks. That puts SFRs at early 2009 prices. And approaching the cost of replacement.

Nutso Market.

[MadManofBethesda]

Originally Posted by lvoc

December prices appear up - Median at $150K, Average upper 180Ks. That puts SFRs at early 2009 prices. And approaching the cost of replacement.

Nutso Market.

So, what became of the permanent renters and the anti-housing trolls who used to populate this board with their gloating as prices were dropping? (As if that situation was going to last forever, lol.)

Come out, come out, wherever you are.............

[damania]

Originally Posted by MadManofBethesda

So, what became of the permanent renters and the anti-housing trolls who used to populate this board with their gloating as prices were dropping? (As if that situation was going to last forever, lol.)

Come out, come out, wherever you are.............

Do you think it's wise to buy at current price points now?

[von949]

Originally Posted by damania

Do you think it's wise to buy at current price points now?

Primary residence or investment property?


Posted from Nokia 8210

[cre8lite]

Originally Posted by Fredericko666

you will have negative equity like many other Americans.

Perhaps you've been living under a rock? Pretty much all of southern NV, as well as AZ is currently in this situation.

[airics]

Originally Posted by MadManofBethesda

So, what became of the permanent renters and the anti-housing trolls who used to populate this board with their gloating as prices were dropping? (As if that situation was going to last forever, lol.)

Come out, come out, wherever you are.............

Here kitty kitty. Here kitty kitty.

[007 license to sell]

Some area's are experiencing an increase in home value's more than others it's not valley wide. Also just because values are going up now doesn't mean they will continue to go up. This housing market is very volatile there are so many caveats that could derail the housing values in Vegas. Such as the release of Shadow inventory, the interest deduction going away, the mortgage debt relief going away. Unemployment , stricter lending standards, and more. I don't remind people of these possibilities to discourage anyone from buying.
I just want to people to look at any purchase realistically. To view a purchase of a property as a long term investment and not a piggy bank like home owners did in the past. This economy is going to take a long time to make a real correction and anyone thinking things are going to turn around next year isn't being realistic in their thinking. If a buyer isn't sure of their job or has enough in saving to help with any financial set backs then those potential buyers should rent.