[umbilicus]

What is the general opinion of the Panorama Towers?

[olecapt]

Originally Posted by umbilicus

What is the general opinion of the Panorama Towers?

Nice place. Good buys. Very big HOA fees.

[SHEPNYC]

Vegas was the only city nationwide to post double digit decreases in the first quarter of the year according to Case-Shiller.

Prices nationwide were up 2% while Las Vegas was down 12%.

It can't be just unemployment, Detroit was down 4% and had 15% unemployment. Miami was down less than 2% with 12% unemployment.

Any ideas why that is?

[olecapt]

Originally Posted by SHEPNYC

Vegas was the only city nationwide to post double digit decreases in the first quarter of the year according to Case-Shiller.

Prices nationwide were up 2% while Las Vegas was down 12%.

It can't be just unemployment, Detroit was down 4% and had 15% unemployment. Miami was down less than 2% with 12% unemployment.

Any ideas why that is?

Just hit hard in the sub-prime and trailing a couple of months. Should go positive in April.

LV as a whole heavily over corrected. Simply went down harder than any other place...I would think much of that was because it went up further and faster than anywhere else.

[MomMom]

Originally Posted by SHEPNYC

Vegas was the only city nationwide to post double digit decreases in the first quarter of the year according to Case-Shiller.

Prices nationwide were up 2% while Las Vegas was down 12%.

It can't be just unemployment, Detroit was down 4% and had 15% unemployment. Miami was down less than 2% with 12% unemployment.

Any ideas why that is?

This looks like it might be the most recent article to which you are referring?


while Las Vegas posted the biggest drop. Eight cities — Atlanta, Charlotte, Chicago, Detroit, Las Vegas, New York, Portland and Tampa — posted new index lows

http://blogs.wsj.com/economics/2010/...ea-may-update/

[SHEPNYC]

Originally Posted by MomMom

This looks like it might be the most recent article to which you are referring?

By J.W. ELPHINSTONE
AP Real Estate Writer

updated 14 minutes ago
NEW YORK - The housing slump isn't over.

Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 percent in March from February, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday


Home prices drop 0.5 pct. from February to March - Business- msnbc.com (http://www.msnbc.msn.com/id/37333143/ns/business/ - broken link)

It doesn't state that prices nationwide were up, the Case Shiller Index targets 20 cities...

Can you provide the info pertaining to Las Vegas only?

Las Vegas home values are going to drop a bit further it seems, the more foreclosed homes there are, the lower the prices

You'r comparing March to February, I'm talking 2009 vs. 2010, check the link ebelow:

"The S&P/Case-Shiller National Index, a broad gauge of U.S. home prices, posted a 2% gain in the first quarter from a year earlier, but was down 3.2% from the end of 2009."



A Look at Case-Shiller, by Metro Area (May Update) - Real Time Economics - WSJ

[MomMom]

Originally Posted by SHEPNYC

You'r comparing March to February, I'm talking 2009 vs. 2010, check the link ebelow:

"The S&P/Case-Shiller National Index, a broad gauge of U.S. home prices, posted a 2% gain in the first quarter from a year earlier, but was down 3.2% from the end of 2009."



A Look at Case-Shiller, by Metro Area (May Update) - Real Time Economics - WSJ

I got it Shep, the article is in my updated post...

[dano]

Originally Posted by olecapt

Just hit hard in the sub-prime and trailing a couple of months. Should go positive in April.

LV as a whole heavily over corrected. Simply went down harder than any other place...I would think much of that was because it went up further and faster than anywhere else.

Article in today's RJ says prices 1.6% lower year-over-year as opposed to prior reports that it turned up. What gives?

[MomMom]

Originally Posted by dano

Article in today's RJ says prices 1.6% lower year-over-year as opposed to prior reports that it turned up. What gives?

I just saw this on the news as well...here's the article to which you are referring to

Prices have not changed much in the past year, Home Builders Research President Dennis Smith said. The median resale price fell to $128,000 in April, down $2,000, or 1.6 percent, from a year ago.

Existing home sales rise in April - Business - ReviewJournal.com

[Natali :)]

Maybe home price go down but inventory today not good.
Frankly speaking I am actively looking from September 2009 and when I just start looking I saw many beautiful homes and what I see today ...its looks like "clearance sale".