[von949]

Originally Posted by JackieL65

Here we go another real estate agent defending his fellow real estate agent.
As I said before go and pound your family members brain about mortgage debt and phony home ownership not us here.
Latest statistic says that 70% Las Vegas homeowners are currently underwater or upside down on their mortgages.
70%
70%
70%
Close to 30% are owning more then double on their current house worth.

Who are you real estate agents kidding here??????????
You must be asleep to believe in that phony homeownership dream.
And then you have someone like gulfer saying why people take everything with grain of salt these days and why many don't believe in that homeownership scam.
Just 5 years ago most real estate agents told us that back then is the best time to buy a house.
They said house prices will NEVER go down only up.

Any yes this is just my personal opininon but 95% of real estate agents in Las Vegas are crooks and should NOT be trusted anything they say.

The ultimate question. When was the "best" time to buy?

2005 or 2012?

There are people who purchased in 2005 and sold a year later to make a solid six figures.
then again...
There are people that purchased a home this year that they could not afford in 2005.

[Tek_Freek]

Originally Posted by von949

The ultimate question. When was the "best" time to buy?

2005 or 2012?

There are people who purchased in 2005 and sold a year later to make a solid six figures.
then again...
There are people that purchased a home this year that they could not afford in 2005.

It's not the "When is the best time to buy" but "how many homeowners got totally screwed in the intervening years".

[JackieL65]

Dude 70% of Las Vegas homeowners are underwater.
70%
70%
70%

30% own more then double of the current house worth.
30%
30%
30%

Go and tell those people how homeownership and mortgage debt is a great thing.
I can care less about Canadians or Australians or new transplants who are posting here......what about Las Vegans who are losing their homes, who are underwater and don't see a way out of this crisis. We have posters here who dominate this forum and live in Las Vegas part time or for a few months.

Las Vegans are hurt, Las Vegans are underwater and losing their homes.
Don't you dare tell us why we are bitter and why we are not happy.

Go ahead and tell us again how mortgage debt is a great thing.

[JackieL65]

Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC

Nearly 70 percent of Las Vegas homeowners remain*underwater

The home-mortgage crisis in Las Vegas is showing few signs of abatement, as borrowers remain far underwater.
About 68.5 percent of Las Vegas Valley homeowners with mortgages were underwater — meaning their debt exceeds the home’s value — during the second quarter this year.

Nationwide, Las Vegas had the highest rate of underwater borrowers among the 30 largest markets tracked by Zillow.
Pittsburgh


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.

[von949]

Originally Posted by Tek_Freek

It's not the "When is the best time to buy" but "how many homeowners got totally screwed in the intervening years".

I almost ended up being one of those people that would have gotten "screwed" in early 2006. On my enlisted military salary alone I got pre-approved for $360K in northern Utah. I was really considering it but got deployed and then got orders to Las Vegas right after. I did keep tabs on the new home/neighborhood that I was looking at. The place and neighborhood was around $345K, while in Korea the place surged up to $420K. Then I left Korea for Vegas about a year later...the whole neighborhood average was in the the mid $250Ks.

Dodged a bullet on that one.

My strategy was to get in quick and make a quick buck. A couple of roommates would have sustained me till I was ready to sell. Worst plan in my life ever.

Talk about being "screwed" if I would have went through with everything.

[von949]

Originally Posted by JackieL65

Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC

Nearly 70 percent of Las Vegas homeowners remain*underwater

The home-mortgage crisis in Las Vegas is showing few signs of abatement, as borrowers remain far underwater.
About 68.5 percent of Las Vegas Valley homeowners with mortgages were underwater — meaning their debt exceeds the home’s value — during the second quarter this year.

Nationwide, Las Vegas had the highest rate of underwater borrowers among the 30 largest markets tracked by Zillow.
Pittsburgh


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.

Do you own a home in Vegas? Do you have a home underwater?

[lvoc]

Originally Posted by JackieL65

Here we go another real estate agent defending his fellow real estate agent.
As I said before go and pound your family members brain about mortgage debt and phony home ownership not us here.
Latest statistic says that 70% Las Vegas homeowners are currently underwater or upside down on their mortgages.
70%
70%
70%
Close to 30% are owning more then double on their current house worth.

Who are you real estate agents kidding here??????????
You must be asleep to believe in that phony homeownership dream.
And then you have someone like gulfer saying why people take everything with grain of salt these days and why many don't believe in that homeownership scam.
Just 5 years ago most real estate agents told us that back then is the best time to buy a house.
They said house prices will NEVER go down only up.

Any yes this is just my personal opininon but 95% of real estate agents in Las Vegas are crooks and should NOT be trusted anything they say.

There is no such statistic and never was. You lie...blatantly.

5 years ago was a good time to rent if you had the option. Which is what I told clients. Seven years ago was a lot tougher.

It appears many in LV are going to guts it out. I don't agree in a lot of cases but I do understand. At the present rate of rise all but the basket cases may well be at the surface by year end. Appreciation of 2.5% per month will fix a lot in the next six.

[lvoc]

Originally Posted by JackieL65

Dude 70% of Las Vegas homeowners are underwater.
70%
70%
70%

30% own more then double of the current house worth.
30%
30%
30%

Go and tell those people how homeownership and mortgage debt is a great thing.
I can care less about Canadians or Australians or new transplants who are posting here......what about Las Vegans who are losing their homes, who are underwater and don't see a way out of this crisis. We have posters here who dominate this forum and live in Las Vegas part time or for a few months.

Las Vegans are hurt, Las Vegans are underwater and losing their homes.
Don't you dare tell us why we are bitter and why we are not happy.

Go ahead and tell us again how mortgage debt is a great thing.

A blatant lie repeated is still a blatant lie.

[lvoc]

Originally Posted by JackieL65

Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC

Nearly 70 percent of Las Vegas homeowners remain*underwater

The home-mortgage crisis in Las Vegas is showing few signs of abatement, as borrowers remain far underwater.
About 68.5 percent of Las Vegas Valley homeowners with mortgages were underwater — meaning their debt exceeds the home’s value — during the second quarter this year.

Nationwide, Las Vegas had the highest rate of underwater borrowers among the 30 largest markets tracked by Zillow.
Pittsburgh


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.


In the valley as a whole, 36 percent of underwater homeowners owe more than double their home’s value; nationally, it’s 14.5 percent.

The headline is blatantly wrong. The text is correct for a quarter ago by one reporter. By now it is down another 8 or 10 points and will continue to improve. Another show it as 64% in the first quarter.

Underwater is well under 50% of all homes and is likely under 40% at the moment. It is the last 20 or 25% that will be hard...and they should probably bail. But who knows.

But it is no longer an insurmountable problem and will continue to improve month by month.

[JackieL65]

Hey Real Estate Agent.....you better check your facts before you accuse someone of posting a blatant lie.

http://www.vegasinc.com/news/2012/au...n-unde/]Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC


http://www.vegasinc.com/news/2012/au...n-unde/]Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC


http://www.vegasinc.com/news/2012/au...n-unde/]Nearly 70 percent of Las Vegas homeowners remain underwater - VEGAS INC

Nice try Real Estate Agent.
Its not down 8 or 10 points it's down only 2.5 points from a first quarter.
STOP making up your own numbers and misleading other people.

"In Las Vegas, 68.5 percent of homeowners were underwater as of June 30, the most of 30 metro areas analyzed by Zillow. That was down from 71 percent in the first quarter."