[logline]

Originally Posted by Kevin_nlv

It's too late for you to spin it now.

You're a funny guy. Keep posting.

[von949]

Originally Posted by Kevin_nlv

People are like sheeps lining up for round two of the Las Vegas housing bubble.

...and there is probably going to be a round three, four, five, six and so on...





(╯°□°）╯ ︵ ┻━┻

[Datafeed]

Originally Posted by Kevin_nlv

It's too late for you to spin it now.
Let me just touch base in regards to reaping the benefits of the recent price appreciation.
You do not lock into property gains until you sell, you know that right. So unless you plan on buying and selling on a routine basis, the fast rise is really nothing to scream home about especially when underlying fundamentals are so out of sync with a normal market.

Today, with no real wage growth, low rates are being used as the catalyst to boost home prices. As we saw with rates only going from 3.5 to 4.5 in the last month, the market went nutty just on this little change. Even 4.5 percent is a ridiculous rate thanks to the Fed’s aggressive policies. We’ve papered over a weak decade of wage growth with financial gimmicks. The history of mortgages rates demonstrates that yes, incomes absolutely matter.

Of course, higher rates this time will pop this bubble because many of the large investors are focusing on real estate for flips/rentals because the market is providing negative rates courtesy of the Fed. So people are chasing yields like cats after mice wherever they can but the market is now overbought and people are trying to get their hands on whatever chair remains as the music speeds up.

People are like sheeps lining up for round two of the Las Vegas housing bubble.

So when can I get a home in Lake Las Vegas under 300k? I will buy you a beer downtown if you can tell me when I should buy. Just don't be a negative Nelly.

[ddrhazy]

Originally Posted by Datafeed

So when can I get a home in Lake Las Vegas under 300k? I will buy you a beer downtown if you can tell me when I should buy. Just don't be a negative Nelly.

Just rent, I'm sure the rents are cheap.

[airics]

i'm waiting till 2500sf homes in Vegas are 25,000

[Robustus]

I haven't looked at this thread in about a year. Just read the last two pages. Seems like not much has changed around here.

Anyways, for what it's worth, when I first moved in to my neighborhood in 2010, there were 3 or 4 for-sale signs up (in a neighborhood of roughly 75 houses). That was pretty much the average until about 6 months ago when that dropped to just one house for sale (which is still for sale). The neighborhood is 1800-2400sqft 3 & 4 bed SFRs, built in 2006 (so, pretty much peak-bubble neighborhood). There's one bank-owned vacant house currently, and it's been vacant since shortly after I moved in. The bank has not done anything with it for 2+yrs now.

Anyways - not sure if the above is relevant/interesting to anyone; just adding some anecdotal data to the mix.

[Tarara Boomdea]

A few bad apples... Be careful out there.

Las Vegas: a wretched hive of realtor scum and villainy » OC Housing News

Comments:
Las Vegas: a wretched hive of realtor scum and villainy » OC Housing News

[Tarara Boomdea]

The Housing Bubble Blog » Plenty Of Empty Houses

The Wall Street Journal on Nevada. “In a city dotted with tens of thousands of vacant houses, Jericho Guarin figured it would be effortless to buy his 1st home. But nearly a year after beginning a search late last summer, he has come up dry. ‘It has-been a nightmare,’ says the - 37-year-old U.S. Air Force officer. ‘There are plenty of empty houses, yet they’re just not for sale.’”

“Many real-estate agents, home builders & consumer advocates argue that the law, intended to remedy foreclosure-processing abuses, has backfired. Some owners who are behind on payments aren’t maintaining their homes as banks refrain from eviction proceedings. The perverse outcome: Inventory shortages have spurred new developments despite a glut of properties stuck in foreclosure limbo.”

“‘The people injure most by this law are the middle class,’ says Steve Hawks, a real-estate agent in Henderson, Nev. He refers to the phenomenon wrought by the foreclosure measure, Assembly Bill 284, as the ‘A.B. 284 bubble.’”

[lvoc]

Originally Posted by lvnyc

A few bad apples... Be careful out there.

Las Vegas: a wretched hive of realtor scum and villainy » OC Housing News

Comments:
Las Vegas: a wretched hive of realtor scum and villainy » OC Housing News

[mod cut-- rude]

The OC Housing guy is an idiot. Too stupid to watch his own paperwork.

There are only two kinds of retail RE Agents who do the job for a low flat fee. Those who are coming into the field and those on the way out. Neither is likely to be outstanding or they would not take the business. If you swim in the scum you get scummy.

There are people who are well set up to run a cost effective paperwork mill. But those are almost always PMs or other specialists who do little conventional business. Another option is one of the partners gets licensed and handles the inside business.

And this is the same guy pushing a 400K plus 1955 home in Buena Park as a good rental opportunity...How dumb can one get...

[ddrhazy]

Originally Posted by lvoc

[mod cut-- rude]

The OC Housing guy is an idiot. Too stupid to watch his own paperwork.

There are only two kinds of retail RE Agents who do the job for a low flat fee. Those who are coming into the field and those on the way out. Neither is likely to be outstanding or they would not take the business. If you swim in the scum you get scummy.

There are people who are well set up to run a cost effective paperwork mill. But those are almost always PMs or other specialists who do little conventional business. Another option is one of the partners gets licensed and handles the inside business.

And this is the same guy pushing a 400K plus 1955 home in Buena Park as a good rental opportunity...How dumb can one get...

The OC dude spouts all this nonsense and then at the end of every blog post says, "LET OC HOUSING REPRESENT YOUR RE NEEDS". Well obviously this individual has an agenda. I dunno why lvnyc continues linking blogs from unscrupulous individuals.