[eventusstultorummagister]

Default filings showing no sign of slowing.
3083 for the month of April (as of 4/26)

If I were a buyer (which I am) I would disregard all "multiple offer" properties as there appears to be a plethora of homes that will eventually make their way to market.

[Natali :)]

Originally Posted by eventusstultorummagister

If I were a buyer (which I am) I would disregard all "multiple offer" properties as there appears to be a plethora of homes that will eventually make their way to market.

I am a buyer and I would disregard all "multiple offer" too !

[Natali :)]

Originally Posted by jjameson922

Being a realtor myself John, I totally understand that. . Everyone in the country is hearing LV has great housing deals. ................
...., the LV housing market is still high priced ... .

[strato58]

Im from NJ so im use to high prices but with the state of the economy and with the bad job market in las vegas in particular, these home prices still seem high. Every article I read seems to state that las vegas is one of the worst if not the worst hit.
Most homes are upside down....blah blah blah...im sure you've heard it all.
Prices still seem pricey compared to say the Phoenix valley area.

Im looking to move to 1 of these 2 areas and the housing prices is going to be a big determination for me...

I love both areas equally well.

[airics]

i can't believe people still feel vegas is overpriced.. according to forbes, it was the most underpriced place in the country. imo, its not going to get any cheaper, whether or not the banks release this so called wave of foreclosures.... just because there are filings, doesn't mean the house is going to be sold.. in order to get a modification, you have to be 3-4 months behind which triggers the notice.

[Natali :)]

Originally Posted by airics

i can't believe people still feel vegas is overpriced.. according to forbes, it was the most underpriced place in the country.....

Well- maybe average home price for Las Vegas is underpriced but "average" price means average for ALL Las Vegas
includingVERY BAD HIGH CRIME areas what is really have low price per sq ft but good areas still overpriced compared to other state with low crime and better employment cituation

[olecapt]

This is actually getting kind of silly. The median single family in Las Vegas is well below the national average. It is in fact lower than virtually any other large city. The SFR median has been as low as 75 psf and is presently around 78.

So $100 per sf is about 20% more than Las Vegas.

It is generally about the same as Phoenix. Note that Phoenix has a much larger older housing stock whick lowers there median to Vegas. If you compare newer homes Phoenix is more expensive.

[olecapt]

Originally Posted by Natali :)

Well- maybe average home price for Las Vegas is underpriced but "average" price means average for ALL Las Vegas
includingVERY BAD HIGH CRIME areas what is really have low price per sq ft but good areas still overpriced compared to other state with low crime and better employment cituation

Nope. Las Vegas shows bigger price advantages at the high rather than the low end. Note that it is the newer homes in LV that were whacked...big or small.

[olecapt]

Originally Posted by eventusstultorummagister

Default filings showing no sign of slowing.
3083 for the month of April (as of 4/26)

If I were a buyer (which I am) I would disregard all "multiple offer" properties as there appears to be a plethora of homes that will eventually make their way to market.

You will not get a house anytime soon. There is vastly more demand than there is supply.

I would think you could easily double the supply of REOs and not change much...and that does not appear to be about to happen.

[strato58]

Olecapt, unfortunately im not seeing $75 to $78 psf.....but maybe you have an inventory list you should send me....I hear your a pretty good realtor.
Are list prices much higher than what they are closing for?....What percentage below list are these generally closing for?