[olecapt]

They are setting the price wherever...I have seen pricing from 25% over market to 20% under in the last few weeks. Note that in August the REOs were selling at 104% of list.

The most amazing thing is they offer a property at $75K no takers. Come down to 69K list and it sells for $76K. Market exuberance or something.

A client has lost two bids on $400K REOs when bidding more than $50K over.

[Plain Jane 3953]

Mr Taylor, if you are buying property for investment purposes then you need to buy in areas that you know, else you are taking too much of a risk.

Anyway, Vegas hasn't seen the worst of their downturn - that would be one of the last places where I buy property.

[gulfer]

Plain Jane, are you from the UK? Reason I ask, and it's only my point of view, is why would Las Vegas be one of the last places you would buy? But everyone buys for different reasons. I personally hope that all these people buying for investments or to rent out and make money each month lose thier shirt. But I'm a little old school. Buy a house that you can afford and use it for what it is intended...a place to call home.

[Swigchow]

Originally Posted by gulfer

I personally hope that all these people buying for investments or to rent out and make money each month lose thier shirt.

these people are helping support a bottom.

[Plain Jane 3953]

Actually, I agree with you Mr/Miss gulfer. I hate seeing any homes being bought up by investors and then rented out. Often the investors don't even know the area and do not care what is going on as long as they get the rent each month.

Even worse are the people who buy 2nd homes as a holiday home and then occupy it only on the weekends or a couple of weeks a year. That has devastated many lovely towns and villages. When the English starting buying property for this purpose in Wales, some found their homes burnt down by the locals.

But the reason I would not buy in Vegas is because I don't particularly like the desert, I hate the consequences of gambling and the complete waste of energy in maintaining the Strip.

Cheers.

[airics]

Originally Posted by Plain Jane 3953

But the reason I would not buy in Vegas is because I don't particularly like the desert, I hate the consequences of gambling and the complete waste of energy in maintaining the Strip.

Cheers.

so you come on this site and bash the city.. 1. u don't live here 2. u don't know the area 3. and on this post, it is all your opinions.. we dont care what you in particular dislike... stay in the uk troll! by the way, where can you leave in london reasonably.. ? you can't ..

in a month, you will want to invest here..

[dynimagelv]

Originally Posted by Plain Jane 3953

Often the investors don't even know the area and do not care what is going on as long as they get the rent each month.



Cheers.

Kinda like the UK trolls that visit this site just because they learned to spell Las Vegas.

[gulfer]

Hmmm...no Desert, No Gambling, and a waste of energy. Okay, well at least we see your point of view. But as Airics so elegantly put it, I wonder why you would post here. I've been to England 4 times. Actually spent 22 straight days there and it rained 21 of those 22. I love the heat, the sun, the dry, etc...
Good luck to you though, we just want different things. And that's okay

[olecapt]

Originally Posted by gulfer

Hmmm...no Desert, No Gambling, and a waste of energy. Okay, well at least we see your point of view. But as Airics so elegantly put it, I wonder why you would post here. I've been to England 4 times. Actually spent 22 straight days there and it rained 21 of those 22. I love the heat, the sun, the dry, etc...
Good luck to you though, we just want different things. And that's okay

That is how you tell an English person. Look for the mold growing in their northern Armpit...

[barocko7]

....and they ran so fast the hounds could`nt catch em`, on down the Mississipi to the Gulf of Mexico.