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Old 06-11-2013, 12:25 PM
 
12,973 posts, read 15,802,978 times
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Sun City Summerlin inventory is normally in the 130 to 150 range. Went down to 50s in 4Q12. Nw back up to 100 while still having a very high sales rate.
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Old 06-11-2013, 01:48 PM
 
2,928 posts, read 3,552,260 times
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Quote:
Originally Posted by lvoc View Post
Sun City Summerlin inventory is normally in the 130 to 150 range. Went down to 50s in 4Q12. Nw back up to 100 while still having a very high sales rate.
I think I said something like that a few months back in other real estate discussion thread and being laughed at by a certain non believer.
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Old 06-11-2013, 10:52 PM
 
Location: Metro Phoenix, AZ USA
17,914 posts, read 43,417,255 times
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Take the personal off topic conversations to DM's, please.
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Old 06-11-2013, 10:54 PM
 
244 posts, read 332,379 times
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Quote:
Originally Posted by lvoc View Post
Sun City Summerlin inventory is normally in the 130 to 150 range. Went down to 50s in 4Q12. Nw back up to 100 while still having a very high sales rate.
Why are prices rising? Are those higher prices sustainable?? What are the costs to the broader economy???

There is little justification as to why home prices should be moving up this quickly based on underlying fundamentals.
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Old 06-11-2013, 10:57 PM
 
244 posts, read 332,379 times
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The return of irrational exuberance to Las Vegas: The growing worries of another Las Vegas housing bubble.

"There are clear signs that Las Vegas real estate is in some form of bubble albeit different from the last one."
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Old 06-12-2013, 08:08 PM
 
244 posts, read 332,379 times
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Looks like they're going after short sale fraud now...

Henderson Couple Indicted on Short Sale Fraud Charges - 8 News NOW

"If convicted, the Hosbrooks face up to 30 years in prison and fines of up to $1 million on each count."



Integrity Home Team/Realty One Group

How ironic.

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Old 06-12-2013, 08:19 PM
 
12,973 posts, read 15,802,978 times
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Quote:
Originally Posted by VegasVicsezhowdy View Post
Looks like they're going after short sale fraud now...

Henderson Couple Indicted on Short Sale Fraud Charges - 8 News NOW

"If convicted, the Hosbrooks face up to 30 years in prison and fines of up to $1 million on each count."



Integrity Home Team/Realty One Group

How ironic.

Silliness. Not worth the cost of prosecuting. Should simply have nailed them for any money made.

If you want to go after that sort of thing there have to be a few hundred mortgage brokers who faked the paper on mortgages in 2004 through 2007. Check virtually anyone who worked for CW and such.
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Old 06-12-2013, 10:51 PM
 
244 posts, read 332,379 times
Reputation: 204
Quote:
Originally Posted by lvoc View Post
Silliness. Not worth the cost of prosecuting. Should simply have nailed them for any money made.

If you want to go after that sort of thing there have to be a few hundred mortgage brokers who faked the paper on mortgages in 2004 through 2007. Check virtually anyone who worked for CW and such.
This is what happens when real estate agents control every aspect of a deal and why I am a proponent of reform.

More short sales bring new scam: flopping

http://realestate.msn.com/more-short...-scam-flopping

"It's just robbery," she says. "And I don't know how to stop the robbery."
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Old 06-12-2013, 11:24 PM
 
12,973 posts, read 15,802,978 times
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Quote:
Originally Posted by VegasVicsezhowdy View Post
This is what happens when real estate agents control every aspect of a deal and why I am a proponent of reform.

More short sales bring new scam: flopping

More short sales bring new scam: flopping - MSN Real Estate

"It's just robbery," she says. "And I don't know how to stop the robbery."
In a lot of ways this is reasonably ironic. Guess who started the whole BPO thing so they would not have to pay the appraisers?

Properly run a short sale system can easily avoid all this stuff. That the lenders don't do so speaks to the lenders priorities.

As I said in the early days I twice had to raise our offer to get it accepted.

Short sales and REOs have always functioned on a reasonably absurd principle - That they are worth substantially less money than a non-distressed sale. You can nail that one to the lenders as well. At the moment REOs have come up a ways relative to non-distressed - but shorts still trail...
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Old 06-13-2013, 12:07 AM
 
244 posts, read 332,379 times
Reputation: 204
Quote:
Originally Posted by lvoc View Post
Properly run a short sale system can easily avoid all this stuff. That the lenders don't do so speaks to the lenders priorities.

What would you have the lenders do differently? As you know, the owners have no obligation to take the highest offer to the bank for short sale approval. There are a number of arms-length requirements for the buyers, sellers and agents to attest to and if they are willing to perpetuate a fraud there isn't much the lender can do about it.

There are people who have posted in this very thread about concealing assets from their lender in order to qualify for a short sale and after obtaining a forgiveness of debt due to their bogus claim of hardship they turned right around and purchased another home, should they not be ordered to pay restitution as well?
Fraud is fraud, right?
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