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Old 06-24-2013, 12:56 AM
 
164 posts, read 260,627 times
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i just drove through this neighborhood out of curiosity...

Henderson Real Estate & Henderson Homes for Sale - Zillow

the houses are small but less than 10 years old or so and many look like they are around 110k. the property isn't much bigger than the house and they have one car garages. it looked quiet and seemed fine.
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Old 06-24-2013, 04:52 AM
 
557 posts, read 793,699 times
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This looks like a short sale judging by purchase price of over 200k in 08 by current owner. The bank may or may not let the offer of 105 k go through. Also status went from listed to contingent in 5 days so it is a cash deal. Lets see what the actual sale price is and how long it takes to close .
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Old 06-24-2013, 08:27 AM
 
15,856 posts, read 14,483,585 times
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I haven't sold in NY yet, so I'm still in the game that way. And that market doesn't have the delinquencies overhanging it. I'm thinking the supply shortage in LV is a bit artificial.

Quote:
Originally Posted by lvoc View Post
You making excuses for having missed another minimum?

Wait six months and you can really feel dumb.

I hope this thing eventually stabilizes...but it shows no sign of reversing direction.
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Old 06-24-2013, 10:11 AM
 
Location: Sunrise
10,864 posts, read 16,996,765 times
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There's nothing artificial about it. I put offers in on properties every week. EVERYTHING has multiple offers, unless it's very overpriced.


Investors are still bullish on Las Vegas real estate. And now the general public has decided that they want to buy, too. They're a year late and many thousand dollars short, though.
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Old 06-24-2013, 10:13 AM
 
15,856 posts, read 14,483,585 times
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How many nonperforming mortgages are there still out there? Still a lot

http://www.lasvegassun.com/news/2013...#axzz2X9Q6rkUS

But they're not converting to foreclosures. If that dam breaks, the market will change significantly.
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Old 06-24-2013, 10:42 AM
 
13,586 posts, read 13,122,874 times
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Quote:
Originally Posted by BBMW View Post
How many nonperforming mortgages are there still out there? Still a lot

Nevada second to only Florida in mortgage delinquency - Las Vegas Sun News

But they're not converting to foreclosures. If that dam breaks, the market will change significantly.
The house next door to me has been abandoned for about two years now. Still not for sale yet. The bank is maintaining the yard because the city of NLV and our HOA jumped their butts about it, ( I got tired of pulling their weeds, I have enough weeds of my own) but still no for-sale sign.

I think the market (and I'm not in the real estate business, so take this information for exactly what you paid for it) has a lot more going on under the surface than people realize.
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Old 06-24-2013, 03:05 PM
 
6,385 posts, read 11,888,213 times
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Quote:
Originally Posted by Kevin_nlv View Post
Why would he feel dumb, for not participating in another real estate scam?
Is this what you told your clients back in 2005?
I am not a realtor, but I still find these idiotic comments offensive. I bought a house in 2004 that is still underwater and I remember plenty about what my realtor said. Never did I hear a buy now or else comment. Not once did he evaluate the market on a quality of investment basis. That is what rational people understand. Realtors facilitate transactions, they don't judge them. They are not economists or financial advisors. They just tell you what's available and what the comps are. I am sure there were plenty of cheerleaders back then, but they were not good professionals who had seen numerous market conditions. I stick to quality professionals and take their advice under serious consideration. What you and many others want to do is just whine and blame others and take no blame.
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Old 06-24-2013, 05:03 PM
 
2,928 posts, read 3,552,974 times
Reputation: 1882
There's a lot of areas that are still under valued because they are either older developments or not as desirable. Lots of deals can be found in those areas.
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Old 06-24-2013, 06:03 PM
 
1,374 posts, read 2,435,920 times
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Quote:
Originally Posted by ddrhazy View Post
There's a lot of areas that are still under valued because they are either older developments or not as desirable. Lots of deals can be found in those areas.
There is no under valued properties. Every property is has a fair market value. Older or undesirable properties are simply less valuable, and not "under valued".
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Old 06-24-2013, 06:10 PM
 
2,928 posts, read 3,552,974 times
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Quote:
Originally Posted by Scott456 View Post
There is no under valued properties. Every property is has a fair market value. Older or undesirable properties are simply less valuable, and not "under valued".
They have not seen the same price correction as other areas of LV.
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