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Old 08-22-2014, 01:31 PM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,259,145 times
Reputation: 712

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New homes sales slumping.

Truth be told in the comments under the article, lol


Las Vegas new home sales down - Las Vegas Sun News

Blessings
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Old 08-22-2014, 01:52 PM
 
15,842 posts, read 14,476,031 times
Reputation: 11916
Maybe, maybe not. There are lots of forecloseable houses that aren't being foreclosed on. So there aren't that many houses on the market. Also, new houses may be more desirable than some old, neglected, possibly abandoned house, even if it does get on the market.

Quote:
Originally Posted by Kitchen Witch View Post
New homes sales slumping.

Truth be told in the comments under the article, lol


Las Vegas new home sales down - Las Vegas Sun News

Blessings
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Old 08-22-2014, 02:03 PM
 
Location: Sunrise
10,864 posts, read 16,992,760 times
Reputation: 9084
Quote:
Originally Posted by BBMW View Post
Maybe, maybe not. There are lots of forecloseable houses that aren't being foreclosed on. So there aren't that many houses on the market. Also, new houses may be more desirable than some old, neglected, possibly abandoned house, even if it does get on the market.
And also many buyers couldn't get financing on a resale because the underwriters wouldn't approve the sale price. They are lagging behind the market. That isn't an issue with new construction, with the paper often carried by the builder.
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Old 08-22-2014, 05:03 PM
 
119 posts, read 183,386 times
Reputation: 141
Quote:
Originally Posted by Raiderman View Post
Hmm.. 3 cash offers and a 38% net... Yup, sounds like a REALLY **** poor real estate market..
You're still relatively new to Vegas, friend, or maybe that doesn't matter to you; you might have cash to offer, are renting, don't mind paying post 2014 prices, and that's cool, but for a native, it's **** poor believe me. I bought a short sale at the end of 2009 in 89178 with a $920 mortgage, sold at a price I would never dream about paying for the same home... It's all relative as far as what you deem an acceptable price to pay for a Las Vegas home. Way over-priced if you ask me. To each his own
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Old 08-22-2014, 05:10 PM
 
119 posts, read 183,386 times
Reputation: 141
Quote:
Originally Posted by Onlyliveonce View Post
Where are you living now ?
Matthews, North Carolina, just south of Charlotte. That's after 25 years in Las Vegas. Been here 8 months and love the hell out of it. Mosquitoes can make for a good evening adventure, but other than that, we're happy.

I came back to Vegas as a veteran in 2005 to an economy in shambles, while prices here stayed nearly the same... It took almost 5 years of waiting this **** storm out before finally being able to buy a home in Vegas with great credit, VA financing and 4 years on the job at a decent income. We miss our lovely home, but love our new neighborhood, our "neighbors" which actually exist here, and our town.
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Old 08-27-2014, 04:16 PM
 
3,598 posts, read 4,948,701 times
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Case Shiller numbers out yesterday. (3-month running average)

"Las Vegas had the highest annual gain in home prices among the 20 component cities -- 15.2%."

Home prices show smallest gains in 17 months
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Old 08-28-2014, 10:45 AM
 
Location: Paranoid State
13,044 posts, read 13,865,519 times
Reputation: 15839
Quote:
Originally Posted by BBMW View Post
There are lots of forecloseable houses that aren't being foreclosed on...
I've been reading that for years. I wonder if it is an urban myth.
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Old 08-28-2014, 11:09 AM
 
15,842 posts, read 14,476,031 times
Reputation: 11916
I keep hearing news reports that state it's true.

There are people here who could probably run the numbers. The are available, if you know where to get them. I think the banks have to publish their delinquencies.

Quote:
Originally Posted by SportyandMisty View Post
I've been reading that for years. I wonder if it is an urban myth.
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Old 09-07-2014, 08:06 AM
 
Location: Las Vegas
687 posts, read 1,945,015 times
Reputation: 693
Quote:
Originally Posted by lvoc View Post
It is a simple process with less participants than in most of the east. And the NV procedure is simpler than say CA by a bit. There are very few people involved and "monkeys and scammers" are quite rare in any normal transaction. Colorful "do it yourself" transactions may be different.

Finding good tenants is simply a matter of proper screening and a reasonable property. I recommend that only locals do low end rentals as they are much more challenging than up scale ones though far more profitable. . However you need to be local and on top of the situation and willing to tolerate a high risk of rework due to damage.
You are one of the few truth tellers around. I've bought a couple places in the past few years in Las Vegas and never had a problem. Had many improvements done and never had an issue. My only regret is that I didn't buy more property while it was cheap. Now it's psychologically difficult to make a purchase knowing that the price is double what it was 4 years ago. Anyone still under the impression that the RE deals are still here in Las Vegas has missed the boat by a long-shot.

The naysayers kept talking about the market dropping further and a shadow inventory ad nauseum years ago when the prices were so low they were unreal. I notice they are still around saying the same thing. If I ever live to see another buying opportunity in Las Vegas RE like we have just been through, I will definitely jump in with both feet.

Croce
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Old 09-07-2014, 09:22 AM
 
Location: State of Denial
111 posts, read 134,857 times
Reputation: 166
Quote:
Originally Posted by Croce View Post
If I ever live to see another buying opportunity in Las Vegas RE like we have just been through, I will definitely jump in with both feet.

Croce
My favorite bumper sticker in Silicon Valley after the dot-com bubble burst:

Quote:
Please, God, grant me one more bubble before I die; I promise I'll know when to sell.
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