[olecapt]

Originally Posted by JohnG72

Inventory was at a several year low for much of 2009 in many parts of LA.

It still is. 3 MLS listings in Los Feliz? Are you kidding me? There are at least 25 homes in Los Feliz in various states of repair that will be listing soon. Thats 800% shadow inventory there. Same thing where I live in Valley Glen. Around 27 mls listings, around 100 vacant properties. West LA? Like 9 MLS listings, around 150 vacant properties.

One heck of a game the banks are playing here, at least in targeted areas. So if you are planning to sell, knock yourself out, and take your profits. If not, don't even bother mentioning your paper gains because they won't last.

Now back to Vegas....................

However in Vegas what they actually own is a public record.

If you want shadow inventory in Las Vegas it has to be pre-foreclosure. It ain't there after foreclosure.

[SportyandMisty]

Is there a way for me (not a real estate professional) to look on line for recent real estate sales? Of course any number of websites allow me to search for homes for sale (e.g., realtor.com, etc), but those list homes with offering prices rather than actual closed transactions with actual prices paid.

Many thanks

[olecapt]

Originally Posted by SportyandMisty

Is there a way for me (not a real estate professional) to look on line for recent real estate sales? Of course any number of websites allow me to search for homes for sale (e.g., realtor.com, etc), but those list homes with offering prices rather than actual closed transactions with actual prices paid.

Many thanks

Yes but it is awkward. Go to...

GISMO

Locate whatever address you care about and click it. Follow the popup and it will eventually led to the last sale date and price.

The only practical way is to get an RE Agent to do it. The agent tools allow relatively elegant searchs for tracts or area or size or configuration. Can't do that on the public site.

[Natali :)]

Originally Posted by eventusstultorummagister

Affirmative, and although I don't particularly agree with all of his assertions one thing I do concur on is that "the shadow inventory is real"

"the shadow inventory is real"

Agreed.

[Natali :)]

Originally Posted by olecapt

Yes but it is awkward. Go to...

GISMO .

@olecapt

Thanks !

[eventusstultorummagister]

Originally Posted by Natali :)

2008 ? misprint ?

Yes, the NAR report was from 2008 and as you can see they were calling the bottom when in reality the trough didn't arrive until April '09. The inference being that information from trade/industry sources should be taken with a "truckload" of salt.

Here's the latest S&P/Case-Shiller price indices for Las Vegas Metro:

Jan/Feb -0.4%

Jan 2010/Dec 2009 -0.5%

1-Year Change -14.6%

[eventusstultorummagister]

Lots of "flips" showing up back on the market (w/heavy markups), combine that with the steady flow of distressed properties and we will see the supply increasing while demand will diminish.

It will be interesting to see how things shape up come summer/fall/winter...

[olecapt]

Originally Posted by eventusstultorummagister

Yes, the NAR report was from 2008 and as you can see they were calling the bottom when in reality the trough didn't arrive until April '09. The inference being that information from trade/industry sources should be taken with a "truckload" of salt.

Here's the latest S&P/Case-Shiller price indices for Las Vegas Metro:

Jan/Feb -0.4%

Jan 2010/Dec 2009 -0.5%

1-Year Change -14.6%

It will go to -2 or -3% in March and positive in April. That is the one year change.

[MadManofBethesda]

Originally Posted by olecapt

Yes but it is awkward. Go to...

GISMO

Locate whatever address you care about and click it. Follow the popup and it will eventually led to the last sale date and price.

Another site you can try is Blockshopper.

Las Vegas real estate news, data and statistics, home sales and real estate listings | BlockShopper Las Vegas

Just put any street name into the search box and every property on that street will show up. You can then click on each or any property and see the history of real estate transactions for that property from the most recent all the way back to about 1992 IIRC.

I found it invaluable when I was house-hunting. My house, for example, had previously been sold in March 1998, March 2000, June 2004, and June 2007. Blockshopper also shows my purchase in February 2010.

BTW, I bought my house for less than it sold in March 2000 (the previous low) and March 1998.

[olecapt]

Originally Posted by MadManofBethesda

Another site you can try is Blockshopper.

Las Vegas real estate news, data and statistics, home sales and real estate listings | BlockShopper Las Vegas

Just put any street name into the search box and every property on that street will show up. You can then click on each or any property and see the history of real estate transactions for that property from the most recent all the way back to about 1992 IIRC.

I found it invaluable when I was house-hunting. My house, for example, had previously been sold in March 1998, March 2000, June 2004, and June 2007. Blockshopper also shows my purchase in February 2010.

BTW, I bought my house for less than it sold in March 2000 (the previous low) and March 1998.

Somewhat better than GISMO but still very awkward. Try for instance and find out what goes on in Sun City Summerlin...

This is easy stuff on the RE Agent side. I think the alternatives just buys pain.

Might want to use it though to back check and make sure you are getting a straignt story.