[airics]

Originally Posted by luckpants

This is so immature, I understand selling things to re coupe some losses but destroying things out of spite is uncalled for. I hope they make this a criminal offense and start prosecuting these clowns, it is so wrong.

the old neighbors (they took everything, they were renters) even took the Kitchen sink... I mean it.. even the Cabinets...

[StaggerLee22]

When we were house hunting we toured some real gems.
One house had 'THIS HOUSE HAS SCORPIONS EVERYWHERE!! DON'T BUY THIS HOUSE! written with black spray paint right across the dining room wall....and FLOOR!
Completely destroyed the tile.
What the paint didn't mess up the hammer they used to make holes in the tile did.
We were in and out in 2 seconds. Not because of the scorpion or the tiles either.
I happen to stumble across a syringe and other goodies.
Somebody set up home there.

[modhatter]

Originally Posted by airics

We just had one in our development (smallest one) list at 134k and sell for 155k. It was sold as is needing work. The guy was a jerk, bet he put cement down the drains

Well, I guess then she was telling the truth. What a big jump. Redkin is emailing me "solds" from the short sales, and they are mostly showing asking price or maybe $500 over. However, these are houses that have closed I think. Can't tell for sure. Realtor, said this all started the beginning of April, the multiple contracts and bidding up.

How was that house priced at $155,000?

[airics]

These were homes that were 300-700 in the good ole days

[LVPoker1]

The houses in my neighborhood in 89135 are getting contracts within days and selling 30-45 days after going on market. At one point we had 11 for sale at the same time in our development, the last few months it has been 0-2 at a time. The prices are not going up though, even with the quick sales. They are not going down either, so I guess at least that is a good sign.

[eventusstultorummagister]

It's getting much more difficult to find supportive reasoning for a floor in valuations (notice I did not use the "B" word) over the next couple years. It would not surprise me one bit if there were no appreciable gains in Las Vegas home prices until 2016 (or later)

Of course if interest rates explode upwards all bets are off. If (some might say when) this happens more RE deflation will occur. A 10-20% down payment in this scenario just seems like p'ing away money.

[costaricageorge]

Any clue as to when some more bank-owned properties will hit the market?

[eventusstultorummagister]

Originally Posted by costaricageorge

Any clue as to when some more bank-owned properties will hit the market?

There are so many people not paying their mortgage at the moment that the banks would go belly up if they were processed in a timely manner.

[StaggerLee22]

Originally Posted by costaricageorge

Any clue as to when some more bank-owned properties will hit the market?

This is part of the so-called "phantom inventory" of foreclosed homes being held by banks.
I wonder if it reallllly exists.

[modhatter]

Anyone know the procedure for allowing a short sale? Would seem to me with the amount there, that everyone underwater sitting in a $350,000 house now worth $150,000 would be very tempted to want to bail. Do they have to PROVE hardship? If anyone can do it, I would think the supply could be endless. (Not that I condone the practice)