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Old 04-30-2015, 03:53 PM
 
261 posts, read 234,901 times
Reputation: 370

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Well maybe I have the magic touch as I am doing it and getting the rent. I even have someone interested in the new house before it is complete. Remember there are many doctors coming to UNLV for medical research and they love this close in area and entertainment value.
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Old 04-30-2015, 04:47 PM
 
12,973 posts, read 15,798,868 times
Reputation: 5478
Quote:
Originally Posted by BBMW View Post
I don't know if it's balloon payments so much as old HELOCs that are going to mature, and people with balances who were paying interest only, are going to have to start paying down principle.
This is just another of these things are going to hell shortly views. Nothing will come of this one either.

Inventory is tightening a bit and prices are still moving up a bit. Gonna see more than $120 per SF on average I think. I will run the numbers Monday or Tuesday.
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Old 05-11-2015, 11:35 AM
 
Location: Paradise
3,663 posts, read 5,673,803 times
Reputation: 4865
Default What Is Going On With Real Estate Right Now?

I go into Reator.com, perhaps, once a week and look at home prices. 95% of the homes in my neighborhood are Pending.

Has there been a buying frenzy going on lately?
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Old 05-11-2015, 12:22 PM
 
Location: Las Vegas
2,880 posts, read 2,806,399 times
Reputation: 2465
Quote:
Originally Posted by Everdeen View Post
I go into Reator.com, perhaps, once a week and look at home prices. 95% of the homes in my neighborhood are Pending.

Has there been a buying frenzy going on lately?
Doubt it's 95%...

Use a better site, eg. redfin..... that way you won't have to see homes that have a "pending" status (unless you decide to add/remove it from the filter)

Better to post questions like this in this thread:
//www.city-data.com/forum/las-v...arket-827.html
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Old 05-11-2015, 12:31 PM
 
2,928 posts, read 3,550,907 times
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http://www.unlv.edu/sites/default/fi...et-Feb2015.pdf

http://cber.unlv.edu/publications/NVEconCond.pdf
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Old 05-11-2015, 12:49 PM
 
Location: Paradise
3,663 posts, read 5,673,803 times
Reputation: 4865
You don't have to see Pending homes on Realtor.com either - although some Pendings do slip through. I just prefer that website. There are only a few for sale in my development. I didn't count, so I cannot say definitively that it is 95%, but it's pretty high.
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Old 05-11-2015, 01:40 PM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,807,886 times
Reputation: 925
It appears for now the housing cost has leveled off and the banks are starting to give mortgages again to people with less than perfect credit. The investors who flip houses are cashing in before a new crash happens (a piece of the pie is better than none) The job market has stabilized in LV also.
I know my house has doubled in price in less than 2 years so that is a big turn around. Many people ho have now gone above water with their Mortgages are selling to go and rent until they retire also. So it looks like people are making hay while the sun is shining the last downturn taught many folks a cruel lesson and the housing market is a buyers market. That is my story and I am sticking to it lol.
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Old 05-11-2015, 01:54 PM
 
15,841 posts, read 14,472,390 times
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Mixed in with the charts in the first link is an interesting tidbit. One of my big questions has been how many houses are sitting delinquent mortgages in NV. The answer turns out to be about 20,000. This is well down from it's peak during the recession. But it's several times the prerecession normal. One wonders what would happen to the market if the banks would process all those homes out for sale.

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Old 05-11-2015, 02:09 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,989,097 times
Reputation: 5057
New crash? Lol... leveling off? We are up from last year.... I need 2-3 more years of up and then im out.....
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Old 05-11-2015, 02:12 PM
 
2,928 posts, read 3,550,907 times
Reputation: 1882
It would drop the prices back to 2013 levels, so 10-15% reduction in prices.
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