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Old 05-20-2013, 11:29 AM
 
244 posts, read 332,444 times
Reputation: 204

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Quote:
Originally Posted by ddrhazy View Post
Less sales but higher commissions. They'll be fine.
...a very narrow perception of reality.
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Old 05-20-2013, 11:36 AM
 
2,928 posts, read 3,554,150 times
Reputation: 1882
It's much better than the cronyism we saw when the market was bottoming out. Nobody had a chance to list as all the properties were REOs and banks gave preference and multiple listings to certain individuals.
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Old 05-20-2013, 12:18 PM
 
12,973 posts, read 15,809,783 times
Reputation: 5478
The inventory is stable not dropping. And we see some indications that some markets are returning to more normal. Sun City Summerlin for instance has inventory way up over 6 months ago. Lots of it overpriced but time will cure that.
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Old 05-20-2013, 02:05 PM
 
244 posts, read 332,444 times
Reputation: 204
Quote:
Originally Posted by lvoc View Post
Sun City Summerlin for instance has inventory way up over 6 months ago.
Great grey exodus?

I wonder where they're going. Moving in with the children? Becoming expats?

[off topic]
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Old 05-20-2013, 02:13 PM
 
2,928 posts, read 3,554,150 times
Reputation: 1882
The culture shock of becoming expat is not something everyone can deal with. If it's a choice between moving to Nevada/Florida/Arizona vs. Mexico/Thailand, I wouldn't worry about droves of retirees moving.
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Old 05-20-2013, 02:27 PM
 
244 posts, read 332,444 times
Reputation: 204
Quote:
Originally Posted by lvoc View Post
The inventory is stable not dropping.
Is the market flattening? I'm seeing distressed properties not moving, especially Homepath, Homesteps and HUD, prices being reduced monthly (for the past 2 months) yet still no takers.

Also, when you compare current local prices to other places like Washington (also a no income tax state) you often find better value.
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Old 05-20-2013, 02:33 PM
 
12,973 posts, read 15,809,783 times
Reputation: 5478
Quote:
Originally Posted by VegasVicsezhowdy View Post
Great grey exodus?

I wonder where they're going. Moving in with the children? Becoming expats?

[off topic]
Comeon.

It has gone from absurdly low to low. Need to go up another 50% to be normal.

The major destination is nearer to children. Next is assisted living.
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Old 05-20-2013, 03:51 PM
 
2,928 posts, read 3,554,150 times
Reputation: 1882
Plenty of places are cheaper than Vegas real estate and rent wise. Question is, where would you go if not Vegas? Out of the list I posted below, maybe Sacramento or Portland for me. Anywhere else is really not an option. http://www.numbeo.com/cost-of-living...gs_current.jsp

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Old 05-20-2013, 07:53 PM
 
Location: Las Vegas, NV
327 posts, read 446,693 times
Reputation: 445
Default Fwiw

For what it's worth:

America's Most Distressed Cities - Business Insider
Quote:
Las Vegas-Paradise, Nevada
Total: 61.47%
Employment: 42.28%
Housing: 47.51%
Credit: 85.05%
Net worth: 67.21%
A score below 70% indicates distress, according to CredAbility.
And here's another one:

US Cities With Most Foreclosures - Business Insider
Quote:
Las Vegas-Paradise, Nevada
1 in every 302 homes received a foreclosure filing in April 2013
Properties with foreclosure filings: 2,751
Change from March 2013: -12.47%
Change from April 2012: -18.56%
Source: RealtyTrac
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Old 05-21-2013, 09:33 AM
 
Location: North Las Vegas
1,631 posts, read 3,952,856 times
Reputation: 768
Here is the latest regarding foreclosures and how it could effect the home owner. And available inventory for potential buyers.

[SIZE=5]Wells Fargo, Citigroup Halt Foreclosure Sales[/SIZE]


http://www.americanbanker.com/issues/178_96/wells-citi-halt-most-foreclosure-sales-as-occ-ratchets-up-scrutiny-1059224-1.html
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