[fishordie]

Just in case you all want to keep believing the so called professionals, here is what the NAR just announced. By the way these professionals were only off by about 800% on single family home sales. As I hear all around the country in various jobs "It's close enough for government work".
Really folks, I cannot make this kind of stuff up. And you really believe this is not grossly affecting Vegas???

FOD

May 27, 2011, 12:24 p.m. EDT
Realtors group downgrades home sales forecast




By Jeffrey Sparshott
WASHINGTON (MarketWatch) -- The National Association of Realtors on Friday trimmed its forecast for new- and existing-home sales, the latest sign of a troubled market.
The Realtors group forecasts that existing home sales will rise 5% in 2011, a downgrade from an earlier projection of 7.7%. New single-family home sales are expected to decline 4.2%, compared with an earlier forecast of a 0.5% drop.
The group also sees housing starts falling 1.0%, compared with an earlier forecast of a 3.1% rise.
Existing-home sales fell 4.8% last year, while new single-family home sales tumbled 14.4%, NAR said.

[olecapt]

Originally Posted by RCCCB

Obama Care had a nice hidden 3.75% tax on the sale of future homes that would have to be collected from the seller. How many are going to want to sell their houses and pay $24,000 to the Obama regime in escrow?
Another issue with real estate coming up IMO.

Ahh comeon. YOu have absolutely nothing better to do than drag out long dead right wing talking points?

That one was done to death months ago.

A 3.8 Percent “Sales Tax” on Your Home? | FactCheck.org

[007 license to sell]

Even though this article doesn't address Vegas's housing directly and it's surrounding area. I see this happing in Vegas, 99% of my buyers are cash buyers and are purchasing vacation homes and planning on holding them until the market turns around or keep them.

As a potential buyer and if your a cash buyer you need to know that you will be competing with other cash buyers for a few more years. If you are a buyer that needs to have a loan to purchase it will be difficult to compete with cash buyers, I don't tell you this to discourage you but to help you prepare for what to expect when making an offer.

Investors to Dominate Market for Next 2 Years
Real estate investors are expected to outnumber the typical
home buyer three to one for the next 24 months, and
investors say they're ready to compete against first-time
home buyers for the best property deals, according to a new
study by Move Inc.
http://go.realtor.org/r/2OAED1N/OZGK/I1K5Y/V1NBN/R06I/PP/t/

Source: Realtor Magazine

[olecapt]

Originally Posted by fishordie

Just in case you all want to keep believing the so called professionals, here is what the NAR just announced. By the way these professionals were only off by about 800% on single family home sales. As I hear all around the country in various jobs "It's close enough for government work".
Really folks, I cannot make this kind of stuff up. And you really believe this is not grossly affecting Vegas???

FOD

May 27, 2011, 12:24 p.m. EDT
Realtors group downgrades home sales forecast




By Jeffrey Sparshott
WASHINGTON (MarketWatch) -- The National Association of Realtors on Friday trimmed its forecast for new- and existing-home sales, the latest sign of a troubled market.
The Realtors group forecasts that existing home sales will rise 5% in 2011, a downgrade from an earlier projection of 7.7%. New single-family home sales are expected to decline 4.2%, compared with an earlier forecast of a 0.5% drop.
The group also sees housing starts falling 1.0%, compared with an earlier forecast of a 3.1% rise.
Existing-home sales fell 4.8% last year, while new single-family home sales tumbled 14.4%, NAR said.

Uhh where did 800% come in?

[Sheryl_Jones]

Originally Posted by 007 license to sell

As a potential buyer and if your a cash buyer you need to know that you will be competing with other cash buyers for a few more years. If you are a buyer that needs to have a loan to purchase it will be difficult to compete with cash buyers, I don't tell you this to discourage you but to help you prepare for what to expect when making an offer.

What about if a property needs a lot of work, is not in good condition or not in a good location, are these investors coming in with cash able to dicker the prices downward or are they bidding the prices up, even on properties in need of major work?

And how does mold damage fit into all of this? I've seen houses showing signs of mold under bathroom floors and I can only guess going into the subfloors and possibly behind the walls. In cases like that, if they required tearing out subfloors or adding new support joists, if they turn out to be moldy, wouldn't that add significant cost and investors would be bidding lower than bank asking?

What is the cure for mold damage anyhow, can't someone just spray it all with moldicide and that would make things good as new again?

[khuntrevor]

Mold gets a huge discount and often it is not expensive to fix. Insulation/drywall/paint--all cheap compared to an A/C unit, for example. I've seen a hole or two in a wall really turn people off, and in reality they could go on CL and get Pedro Handyman to fix it that day for less than a 100 bucks.

A gallon of bleach from the 99centsonly Store will make those studs look brand new--just let it air out for about 5-7 days. A millionaire builder/plumber/investor friend of mine says mold is his "best friend."

[WestieJeff]

Just be aware if you buy a property with current or previous mold, forever, when you go to sell and have to fill out the sellers real property disclosure you will have to check yes on the "Previous or current fungus or mold", even if it is repaired.

Is that a big deal? Maybe not, but as a buyer, I'll always be wondering if it was repaired properly. Given the choice between two homes, one with repaired mold, one with none, I'll pick none.

Originally Posted by khuntrevor

A gallon of bleach from the 99centsonly Store will make those studs look brand new--just let it air out for about 5-7 days. A millionaire builder/plumber/investor friend of mine says mold is his "best friend."

[khuntrevor]

every home out there has a small amount of black stuff--maybe behind the kitchen cabinets, maybe under the carpet pad, definitely in every bathroom. Hidden or not--it's still mold. It's a lot easier to get rid of in dry places like Phoenix or LV.

[RCCCB]

Originally Posted by olecapt

Ahh comeon. YOu have absolutely nothing better to do than drag out long dead right wing talking points?

That one was done to death months ago.

A 3.8 Percent “Sales Tax” on Your Home? | FactCheck.org

Because you live in a hut or tiny home it is OK in your opinion to have this sales tax on homes?
How is that good for people again?
We need to give money to government more for what reason?
And this helps real estate and home sales how again?

[RCCCB]

Originally Posted by olecapt

Ahh comeon. YOu have absolutely nothing better to do than drag out long dead right wing talking points?

Also, regarding Factcheck.org, FactCheck is the Annenberg thing. When the old man died he'd done better to have had his money tossed into the sea than to have funded the foundation that controls this piece of garbage.
Obama's FRIENDS control the foundation and the website.