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Old 04-20-2010, 06:20 PM
 
4,538 posts, read 10,628,669 times
Reputation: 4073

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Quote:
Originally Posted by dano View Post
Yes, if the world goes to further hell in a hand basket, we're all in trouble.
Incorrect. Only those that can't afford their current mortgage and need to sell within the next 10 years or so would be in trouble.

Relatively small segment of the RE market IMO.
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Old 04-20-2010, 09:00 PM
 
2,724 posts, read 4,763,638 times
Reputation: 1042
Quote:
Originally Posted by dano View Post
I read the article and it's not telling us anything we don't already know. Many of us here called the bottom without reading this guy. Yes, if the world goes to further hell in a hand basket, we're all in trouble. Do you have any thoughts of your own or do you just quote so called experts?

Did anyone bother to peruse the LPS mortgage data?

Delinquencies are rising not falling.

Did anyone bother to review employment data?

Again, unemployment still rising.

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Old 04-20-2010, 09:04 PM
 
182 posts, read 246,235 times
Reputation: 52
Quote:
Originally Posted by eventusstultorummagister View Post
According to the Las Vegas Sun...

End of homebuyer tax credit likely to halt rise in sales - Las Vegas Sun

"The median price of single-family homes edged slightly higher in March to $136,000, up from $135,694 in February. Prices are 8.7 percent below where they were a year ago."

It means a modest monthly increase in home prices but still lower compared to the same month last year. For homeowners increasing home value is good news but for those investors who like to flip, they may have to wait a little longer.
I still see the affordability of homes in Vegas as a factor in bringing in new residents and more investors hopefully more on the former than the latter even with the ending of the tax credit.

Off and On the Vegas Strip
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Old 04-22-2010, 09:53 AM
 
Location: Las Vegas
3,728 posts, read 9,473,542 times
Reputation: 1323
Default LV Property Values at 2000 Levels

From today's paper..

Officials says real estate decline can stimulate growth

By HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL
•Housing in Southern Nevada
Las Vegas property values have declined to levels of 10 years ago, but will recover to 60 percent of their peak in the next two to three years, the leader of a local academic institution said Wednesday.



Las Vegas property values at 2000 levels - Business - ReviewJournal.com
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Old 04-22-2010, 11:04 AM
 
1,347 posts, read 2,448,277 times
Reputation: 498
In a somewhat ironic turn of events, the hedge fund manager that figures in the SEC suit against Goldman Sachs is now bullish on housing.

John Paulson Says He is Bullish on Economy, Housing
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Old 04-22-2010, 09:38 PM
 
177 posts, read 357,133 times
Reputation: 55
Quote:
Originally Posted by eventusstultorummagister View Post
Did anyone bother to peruse the LPS mortgage data?

Delinquencies are rising not falling.

Did anyone bother to review employment data?

Again, unemployment still rising.

I still believe the foreclosure rate will rise a little bit again.
The banks can't hold the inventory forever.
However, I also believe the house price will remain stagnant in the near future.
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Old 04-22-2010, 09:55 PM
 
2,724 posts, read 4,763,638 times
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Company seeks bankruptcy after Elvis Presley resort plans fizzle - Thursday, April 22, 2010 | 9:38 a.m. - Las Vegas Sun

"The current global financial crisis has had a particularly grave impact on the Las Vegas real estate market, including a substantial reduction in the number of visitors and per visitor spending, the abandonment of, and/or loan defaults related to, several major new hotel and casino development projects as well as publicly expressed concerns regarding the financial viability of several of the largest hotel and casino operators in the Las Vegas market."
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Old 04-23-2010, 10:14 AM
 
11,177 posts, read 16,016,652 times
Reputation: 29925
Quote:
Originally Posted by MomMom View Post
From today's paper..

Officials says real estate decline can stimulate growth

By HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL
•Housing in Southern Nevada
Las Vegas property values have declined to levels of 10 years ago, but will recover to 60 percent of their peak in the next two to three years, the leader of a local academic institution said Wednesday.


Las Vegas property values at 2000 levels - Business - ReviewJournal.com
Coincidentally, the house I closed on in February had previously sold in March of 2000 (although there have been intervening sales), so on an anecodotal basis I can confirm that prices are at 2000 levels. In fact, I purchased my house for 10% less than it sold for in March 2000.
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Old 04-23-2010, 11:50 AM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,496,245 times
Reputation: 7615
ouch!
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Old 04-23-2010, 01:17 PM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,836,746 times
Reputation: 985
Quote:
Originally Posted by jfkIII View Post
ouch!
I paid 27% of what the previous owner paid in 2006.
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