[007 license to sell]

Here is an Nevada association of Realtors report that was given to Assembly Majority Leader Marcus Conklin to help convince him of the importance of finding a solution for our states foreclosure problem.
This document is enlightening on what has been happening with foreclosures.
And addressing the need to change how the banks respond to the home owner. As well as how to reach out more effeiciantly to help the distressed home owner.

NVAR's Face of Foreclosure report

[JohnG72]

Originally Posted by MN-Born-n-Raised

. You thought you had a handle on the Vegas market but you overlooked shadow inventory and other key variables. Even many real experts got it wrong. You have an out. You are an ex-engineer turned part time Real Estate agent. No one expected you to see it coming.

LOL. He didn't just overlook shadow inventory.

He actually dismissed NOD's as anything that could have an impact on the Vegas REA market. Even when the concept of NOD was essentially shoved down his throat.

[olecapt]

Originally Posted by MN-Born-n-Raised

Yea. Altos Research data is "misleading and wrong". Didn't your plot show that the prices were dropping as well.

Yes as used in the context. Nothing that prevents a data base compiler from providing perfectly good information that can be incorrectly interpreted.

People who were better at predicting the market thought the governments incentive as well as banks holding off inventory would eventually cause the market drop further. It took about a year for that to happen. Hence you didn't predict the bottom. That's how it works in the mind of every other person who is reading this. I'll prove it. Who thinks Ole's prediction was correct???? Anyone? Someone please come to his rescue.... Does anyone think Ole called the bottom correctly????

The bottom in 2Q09 was driven intially almost exclusively by the lenders stopping their price cutting. Other factors certainly had a role in sustaining the bottom.

"One of these bottoms". Your killing me! Listen. I'm sure you are good at stats because you are a former engineer turned realtor. But the reality is, there is ONE bottom not multiple bottoms. The key word here is BOTTOM. Now just admit it. You called it wrong. Your pom-poms got in the way of seeing what was really happening. You thought you had a handle on the Vegas market but you overlooked shadow inventory and other key variables. Even many real experts got it wrong. You have an out. You are an ex-engineer turned part time Real Estate agent. No one expected you to see it coming.

Markets bottom more than once. It is a change of direction from heavily downward to flat or growing slowly. One sustained for over 16 months is a real bottom. May not be the last but still a bottom. The bottom hit in 2Q2009 was quite a sharp and distinct one. We went from over two percent per month to nothing in 60 days. That is a well defined bottom.

[tony soprano]

Originally Posted by olecapt

Markets bottom more than once. It is a change of direction from heavily downward to flat or growing slowly. One sustained for over 16 months is a real bottom. May not be the last but still a bottom. The bottom hit in 2Q2009 was quite a sharp and distinct one. We went from over two percent per month to nothing in 60 days. That is a well defined bottom.

Typical huckster rubbish. There is but one price bottom. Your self titled thread was The Bottom has Arrived, not A Bottom has Arrived. You were wrong.

//www.city-data.com/forum/las-v...s-arrived.html

The fact that it took months for prices to fall an additional 12% from your bottom call only indicates that the rate of the price decline slowed. I'm sure that's of great comfort to the underwater home buyer - well you're underwater now, but at least it took 16 months to get there!

[olecapt]

Originally Posted by tony soprano

Typical huckster rubbish. There is but one price bottom. Your self titled thread was The Bottom has Arrived, not A Bottom has Arrived. You were wrong.

//www.city-data.com/forum/las-v...s-arrived.html

The fact that it took months for prices to fall an additional 12% from your bottom call only indicates that the rate of the price decline slowed. I'm sure that's of great comfort to the underwater home buyer - well you're underwater now, but at least it took 16 months to get there!

A bottom is a bottom. It was "the" bottom for that run down.

No "bottom" is ever forever. There will always be another.

[tony soprano]

Originally Posted by olecapt

A bottom is a bottom. It was "the" bottom for that run down.

No "bottom" is ever forever. There will always be another.

Maybe you're on to something - every time I think your credibility has bottomed, you manage to put in a new low.

[bay bridge]

Originally Posted by tony soprano

Maybe you're on to something - every time I think your credibility has bottomed, you manage to put in a new low.

Ø

I agree with you. I do love it how Olecapt puts his usually spin on things. Lmao!!!!

[logline]

"Markets bottom more than once... No "bottom" is ever forever... There will always be another."

You CAN NOT be serious! Olecapt, you've lost this argument a LONG time ago, so just stop it, okay? You're embarrassing yourself in front of hundreds of readers. The more you try to cover your bases, the worse you look and less likely you're ever going to score a client looking for a good realtor. I used to respect you , but now this has sunk to an all-time low. You're washed up. Just take your lumps and stop making it worse. Your credibility has reached a new bottom... but will it be "the" bottom or will there be lower ones in the future? JUST STOP!

[MN-Born-n-Raised]

Originally Posted by olecapt

The bottom in 2Q09 was driven intially almost exclusively by the lenders stopping their price cutting.

You speak as though the banks are like OPEC and they have the market cornered. Nope. The way I remember it was the spring season started to kick in (in all markets across the country). Then the governement program kicked in and brought a whole lot of people who were waiting on the sidelines into the market. That created a false perception that the bottom was in and therefore people were busy catching knives off of the false sense of urgency. Sense of urgency is paramount in all types of sales. That's why some RE agents say "it's never a better time to buy" in order to reel-in another uneducated buyer.

[MN-Born-n-Raised]

Originally Posted by logline

"Markets bottom more than once... No "bottom" is ever forever... There will always be another."

You CAN NOT be serious! Olecapt, you've lost this argument a LONG time ago, so just stop it, okay? You're embarrassing yourself in front of hundreds of readers. The more you try to cover your bases, the worse you look and less likely you're ever going to score a client looking for a good realtor. I used to respect you , but now this has sunk to an all-time low. You're washed up. Just take your lumps and stop making it worse. Your credibility has reached a new bottom... but will it be "the" bottom or will there be lower ones in the future? JUST STOP!

I'm still waiting for someone to agree with Ole. Question of the day: If everyone on this forum disagrees with Olecapt on this point of his supposedly accurate bottom prediction, can he still be right???