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Old 02-17-2011, 12:38 AM
 
9,848 posts, read 8,285,615 times
Reputation: 3296

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Quote:
Originally Posted by swigchow View Post
usa today: Bulk of las vegas homes are underwater

i'm assuming that the 70% underwater figure refers to those home with mortgages. How many homes in las vegas are owned free and clear?
If one in nine homes with financing went into foreclosure, and this has occurred for the past four years or so (?about 40%), and there must be a certain percentage of people who are underwater who will not foreclose if they are financially sound or for personal moral reasons, then how many homes are left?

two?
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Old 02-19-2011, 09:47 AM
 
Location: North Las Vegas
1,631 posts, read 3,952,856 times
Reputation: 768
According to an aricle in the local news paper this foreclosure mess just gets messier and messier
Judges accused of 'predetermining' foreclosure cases
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Old 02-19-2011, 11:03 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,215,465 times
Reputation: 2661
Quote:
Originally Posted by 007 license to sell View Post
According to an aricle in the local news paper this foreclosure mess just gets messier and messier
Judges accused of 'predetermining' foreclosure cases
That is actually a pretty old story. Mosley has been clear that he won't force loan modifications. It is up to the Supreme Court to change his mind or agree with him
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Old 02-19-2011, 08:03 PM
 
Location: Paranoid State
13,044 posts, read 13,874,291 times
Reputation: 15839
Quote:
Originally Posted by Swigchow View Post
... How many homes in Las Vegas are owned free and clear?...
I don't even know a single person with a mortgage. Everyone I know owns their homes (primary, secondary, etc) free and clear.
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Old 02-20-2011, 05:30 PM
 
4,538 posts, read 10,633,438 times
Reputation: 4073
Quote:
Originally Posted by SportyandMisty View Post
I don't even know a single person with a mortgage. Everyone I know owns their homes (primary, secondary, etc) free and clear.
Hmmm, I don't even live in Vegas and I know 3 people with mortgages there...

caveat.....

All three mortgages are under $125K and basically zero chance of default.
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Old 02-21-2011, 08:04 AM
 
32 posts, read 55,182 times
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Quote:
Originally Posted by SportyandMisty View Post
I don't even know a single person with a mortgage. Everyone I know owns their homes (primary, secondary, etc) free and clear.
Sure you do.
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Old 02-21-2011, 09:19 AM
 
Location: North Las Vegas
1,631 posts, read 3,952,856 times
Reputation: 768
Here is a startling fact taken from the realtor agents social, this isn't just about Vegas but it's about the whole US. Now think about if we are #1 in foreclosures here how can you possibly say you don't know or have heard of someone that isn't in some form of foreclosure, unless you live in a bubble.
Every 20 seconds somewhere in the US a Foreclosure notice is being delivered and the devastation of family and community begins all over again leaving behind more heartbreaking stories of homes lost, families separated and lives destroyed. Unfortunately, at least for most homeowners, the thought of actually reaching out and asking for help is as painful and unlikely as admitting to a serious gambling problem. By the time they actually realize help is available it’s usually too late to do anything to avoid the devastation of Foreclosure. [SIZE=3][/SIZE]
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Old 02-21-2011, 09:44 AM
 
351 posts, read 837,328 times
Reputation: 197
oo7 & other realtors: Has BOA begun to release foreclosures again? Are there any other holdups you're aware of?
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Old 02-21-2011, 05:09 PM
 
4,538 posts, read 10,633,438 times
Reputation: 4073
Hmmmm....prices still falling.

What ever happened to that bouncing along the bottom thing?

I'll note that there is now another impending problem, one that I posted about over a year ago.

Too many rentals.

How long before the ignorant investors(and I posted they were ignorant) get tired of paying property taxes and insurance, and having squatters invade and turn to either section 8 or start dumping properties again? Lots of cash buyers from out of the country right now. Clearly listening to their nations Armando Montelongo about "oh so cheap to buy in Vegas". Also clearly ignorant of what the state of the Vegas RE market is.

Pricing now at mid 1990's level. Wonder how much further things can fall. Wonder what happens when "investors" start cutting losses.
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Old 02-21-2011, 05:21 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,004,431 times
Reputation: 5057
whatever... next you will say that to buy a condo, the bank will give it to you for free! i've got rentals here with no issues... i raised my rent... took it off the mls, threw it on craigslist.. gone in 72hrs... maybe the expensive (150k stuff) is going down.. but the investor (cheap stuff) is still just bouncing along.. too bad its so hard to buy with all the bidders.. i've bid on 5 in the last 3 months.. no luck...

and speaking of rent... we certainly did not have the drop that you did... DOWN 25% IN THE QUARTER! Sucks to be a landlord there, doesnt it?
http://www.zillow.com/local-info/CA-...96025%26el%3D0
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