[007 license to sell]

I am sharing this article with you not to feel sorry for realtors but to have more insight into what is going on out here at all levels, whether you care or not.




Realtors adjust to times

[butterflybird]

Thanks for posting that link. I read the article but have to wonder, if it's so tough right now for realtors, why when I contacted a well known RE company, their agents never even followed up with me online (which is where a huge amount of their contacts and business is coming from I would think). so I went to another agent who at least set me up with an mls feed. If it were me in this very challenging environment, I sure wouldn't pass up any lead, or let any client slip through my fingers to go to another agent. I had made it clear I'm an all cash buyer, open to shorts, flexible in my schedule, the whole bit. I feel bad for everyone in this market, but if a realtor isn't going to do their job and reach out and track leads, I wonder just how hurting they are for business.

[007 license to sell]

This is important news regarding homes priced in the $100,000 are dwindling. Both investors and primary home buyers aren't buying as much since good inventory in this price range seems to be going away.
I have personally seen this happening, homes in that price range now seem to be major fixer uppers.

Fewer existing LV homes sell in May, June than in 2009 July 30, 2010 By Buck Wargo Sales of existing homes in Las Vegas ended a two-year run of year-to-year increases in May.

[lyra33]

Just wondering...how long it will be before my home gets back to what I paid for it in 2006?

I paid 450,000 and now it's worth about half that. Very depressing. My husband has had a couple job offers out of state that we had to turn down because we can't sell.

[las vegas drunk]

Originally Posted by lyra33

Just wondering...how long it will be before my home gets back to what I paid for it in 2006?

I paid 450,000 and now it's worth about half that. Very depressing. My husband has had a couple job offers out of state that we had to turn down because we can't sell.

It is coming out that that the recovery was a joke (as I had said before), so I would not plan on selling the house for anywhere what you owe on it anytime soon.

[007 license to sell]

Originally Posted by lyra33

Just wondering...how long it will be before my home gets back to what I paid for it in 2006?

I paid 450,000 and now it's worth about half that. Very depressing. My husband has had a couple job offers out of state that we had to turn down because we can't sell.

No one really knows, I have heard anywhere from 5 yrs to 10 yrs and when homes will start to go up and stableize. Analysts predict that when homes start to increase in Value it will be nothing like before it should return to a normal 2 or 3% increase in Value.
Click on the link below to see what analysts are predictiong for Nevada's economy.

Index: No quick recovery for Southern Nevada

July 30, 2010 By Buck Wargo The July index that forecasts the Southern Nevada economy and job growth through Nov. 1 shows no promise of a quick recovery. The Southern Nevada Index of Leading Economic Indicators recorded a 0.57 percent decline from the June index and 0.57 decline from the July 2009 index.

[von949]

Originally Posted by lyra33

Just wondering...how long it will be before my home gets back to what I paid for it in 2006?

I paid 450,000 and now it's worth about half that. Very depressing. My husband has had a couple job offers out of state that we had to turn down because we can't sell.

My wife's house is in the same situation. She purchased it before I moved to Vegas(2007). We definitely want to get rid of it with out affecting her credit. Now we are just worried about about renting it out just in case I get orders overseas. The neighborhood rate for rentals wont cover the mortgage.

[thecuse]

Originally Posted by lyra33

They all suck.

...Yep

[logline]

Originally Posted by lyra33

Just wondering...how long it will be before my home gets back to what I paid for it in 2006?

I paid 450,000 and now it's worth about half that. Very depressing. My husband has had a couple job offers out of state that we had to turn down because we can't sell.

At a reasonable 3% rate of appreciation, it will take 24 years for you to get back to "even".

[Natali :)]

Originally Posted by 007 license to sell

New]Fewer existing LV homes sell in May, June than in 2009 July 30, 2010 By Buck Wargo Sales of existing homes in Las Vegas ended a two-year run of year-to-year increases in May.

Thanks !